IPO poverty alleviation new policy, the biggest characteristic is to cut the queue, the Commission s-k9084

"The biggest feature of IPO is the new deal in poverty alleviation Commission emphasizes the audit standards do not drop Sina App: Live on-line blogger to guide your entries as you earn take can make you my source: surging on the Commission" IPO poverty alleviation "new discussion continues. In September 13th, some investment bankers said to the surging news (News), the new policy for poor areas to be listed enterprises, the biggest advantage is only "newspaper" on the trial, not queuing". Of course, the benefits are not small. General enterprises from IPO declaration to the listing will be nearly 3 years, "jumping the queue" can narrow this time to the first half of the year. Galaxy Securities chief strategist Sun Jianbo believes that, from the new policy point of view, support for poor areas, not to relax these regional Corporation listing conditions for the audit, but to give professional help. In order to apply for initial public offering and listing, it is applicable to the policy of "reporting, examining, reviewing and issuing". In this statement, it does not reduce the listing standards of Listed Companies in backward areas. Prior to September 9th, the CSRC issued the opinions of China Securities Regulatory Commission on giving full play to the role of capital market in serving the strategy of national poverty alleviation (hereinafter referred to as "opinion"). "Opinions" mentioned, for the poor areas of enterprises IPO, three new board listing, issuing bonds, mergers and acquisitions and other green channel opened. Some market participants interpret it as "the registration system for domestic listed companies in poor counties."". It then raises concerns about the sudden expansion of the IPO market. In this regard, Xie Baisan, director of the financial and capital market research center of Fudan University in his personal micro-blog public voice, bluntly "opinion" is "wrong", and said "more than 100 million disaster difficult Chinese investors" by the "opinions" scared". However, insiders close to the regulation point out that even if the listed companies in poor areas are to meet these standards, the audit standards are the same. "Opinions" also stressed that the enterprises in the poor areas (listing) of the audit matters adhere to the "three principles", adhere to the standard does not drop, the conditions are not reduced, to ensure stable and healthy development of the market. According to the current "IPO and listing management approach" (hereinafter referred to as the "measures"), the issuer’s initial public offering (IPO) requirements, in addition to some of the company’s main qualifications, independence, standard operation that needed to meet a series of financial conditions, including the recent 3 fiscal year net profits are positive and accumulated more than 30 million yuan; the net cash flow of the last 3 fiscal year from operating activities totaled more than 50 million yuan, or the last 3 fiscal year operating income totaled more than RMB 300 million yuan; the end of the latest period of intangible assets (excluding land use rights, water aquaculture and mining rights etc.) the ratio of net assets is not higher than 20%. In the opinion, the policies given to the enterprises in poor areas are as follows: the registered places and the main production and management places are all in the poor areas, and the enterprises which have been engaged in production and management for three years and paying the income tax for three years or on the registration theory, IPO

“IPO扶贫”新政最大特色是插队 证监会强调审核标准不降 新浪财经App:直播上线 博主一对一指导 你参赛你赚你拿 总能让你过把瘾   来源:澎湃   关于证监会“IPO扶贫”新政的讨论,还在继续。   9月13日,有投行人士向澎湃新闻()表示,新的政策对于贫困地区的拟上市企业而言,最大的“优势”也只是“报上去就审,不排队”。当然,这个好处并不小。一般企业从IPO申报到上市都要将近3年,“插队”可以将这个时间缩窄至大半年。   银河证券首席策略分析师孙建波认为,从新的政策来看,对贫困地区的支持,并不是放松这些地区公司上市的审核条件,而是给予专业帮助。申请首次公开发行股票并上市的,适用“即报即审、审过即发”政策,从这个表述中,并没有降低落后地区的公司上市标准。   此前的9月9日,证监会发布《中国证监会关于发挥资本市场作用服务国家脱贫攻坚战略的意见》(以下简称《意见》)。《意见》提到,对贫困地区企业首次公开发行股票、新三板挂牌、发行债券、并购重组等开辟绿色通道。   有部分市场人士将其解读为,这等于是对国内贫困县的拟上市企业定点推行“注册制”。继而引发IPO市场可能突然扩容的担忧。   对此,复旦大学金融与资本市场研究中心主任谢百三在其个人微博公开发声,直言《意见》“是错的”,并称“1亿多灾多难的中国股民”被《意见》“吓坏了”。   不过,有接近监管层的业内人士强调,即便是贫困地区的企业上市,也是要达到这些(首次公开发行)标准才去排队,审核标准是一样的。   《意见》也强调,对贫困地区企业(上市)的各项审核事项坚持“三公”原则,坚持标准不降、条件不减,确保市场稳定健康发展。   根据现行的《首次公开发行股票并上市管理办法》(以下简称:《办法》),发行人首次公开发行(IPO)的要求中,除了一些对公司主体资格、独立性、规范运行等认定以外,还需满足一系列财务条件,包括最近3个会计年度净利润均为正数且累计超过人民币3000万元;最近3个会计年度经营活动产生的现金流量净额累计超过人民币5000万元、或者最近3个会计年度营业收入累计超过人民币3亿元;最近一期末无形资产(扣除土地使用权、水面养殖权和采矿权等后)占净资产的比例不高于20%等。   而《意见》中对贫困地区企业IPO给予的政策是:注册地和主要生产经营地均在贫困地区,且开展生产经营满三年、缴纳所得税满三年的企业,或者注册地在贫困地区、最近一年在贫困地区缴纳所得税不低于 2000万元且承诺上市后三年内不变更注册地的企业,申请首次公开发行股票并上市的,适用“即报即审、审过即发”政策。   其中,针对“注册地和主要生产经营地均在贫困地区且开展生产经营满三年、缴纳所得税满三年”的说法,业内人士猜测,对贫困地区企业IPO,财务标准或降到最低限度。   某总部在深圳的券商投行人士解释,上述说法并没有量化的财务指标,而《办法》中规定的财务指标只是最低限度,一般来说,对排队中拟上市企业的财务指标要求,都比《办法》中规定的高。   除此之外,根据《意见》,注册地在贫困地区、最近一年在贫困地区缴纳所得税不低于2000万元,且承诺上市后三年内不变更注册地的企业,也同样适用“即报即审、审过即发”。   业内人士表示,这一条针对纳税的要求较高。   上述投行人士向澎湃新闻解释:如果倒过来算,假设计提的所得税当年全部缴纳,则应纳税所得额是 2000万 0.25=8000万元,那么按13%的税前利润率(约10%的税后利润率),那么营业收入大约在6亿左右。“创业板妥妥的。”该人士称。   因此,《意见》中针对扶贫地区企业IPO的表述中,前半句或意在为达到上市最低标准的扶地区企业开辟IPO绿色通道;而后半句则是希望通过让贫困地区的龙头企业上市,或鼓励大企业迁址贫困地区注册并缴税,以带动贫困地区发展。   孙建波分析,鉴于贫困地区商业和专业服务落后,服务资本市场的人才匮乏,在同等条件下,往往在流程的准备上严重滞后于发达城市的企业。因此,对贫困地区的项目给予审核流程上的优先安排,是在政策上弥补贫困地区的商业和专业服务滞后,弥补贫困地区的资本市场人才匮乏带来的不足,并没有降低企业上市的标准。   而从数量上来看,虽然根据“中国扶贫板”,目前全国34个地区共计800余个贫困县,但在审的贫困地区企业很少。   有市场人士统计,截至2016年8月末,排队中的拟上市企业共743家,辅导备案登记受理企业855家,而位于贫困地区的仅6家。而从新三板的情况来看,近9000家公司中能符合A股上市标准的贫困地区企业也屈指可数。   因此,贫困地区符合上市条件的企业非常有限。孙建波认为,资本市场的扶贫首先在数量上就不会造成对A股的冲击。   其次,由于证监会未放宽审核标准,也未降低监管标准,贫困地区的上市和并购重组虽然审核优先,但同样不会造成股市环境恶化。   孙建波分析,一来证监会不会因为审核贫困地区项目不顾发达地区项目;二来落后地区也有好企业,如贵州地区有优秀的茅台,市场也不必担心劣币驱逐良币。因此,有评论认为证监会的扶贫新政将对A股产生负面影响是一种误解。   “各类评论对证监会这项政策的批评多有欠妥之处,尤其是以蓝田、银广夏造假来隐射贫困地区企业不诚信的说法,是站不住脚的。证监会虽然给予了专业帮扶,但并未降低贫困地区企业上市的标准,也未降低监管标准。只是通过专业帮扶,弥补其落后地区资本服务的不足。”孙建波说。 进入【新浪财经股吧】讨论相关的主题文章: