What will be listed for three years

What will be listed for three years

Liu Jia

On the morning of July 12th, four square Gong was placed in the renovated Hall of the Hong Kong stock exchange.

On the same day, the HKEx welcomed the listing of 8 companies. 8 companies include Ying Ke, Qi Yi Technology and fingertips to move 3 technology related companies.

"Unlike the PC Internet era, if mobile Internet Co does the right direction, the listing speed will be very fast." Zhu Xiaohu, a guest investor and a Jinsha River venture partner, said in an interview with the first financial reporter. He believes that the mobile Internet listing tide has just begun. Zhu Xiaohu received a super 40 times return.

The Internet is not to cheat money

At noon on July 12th, CEO, who had finished the bell ringing ceremony at the HKEx, hurriedly took a box lunch and began to receive media interviews.

The listing of Ying Ke broke the curse of the recent break of technology stocks. "It's not so exciting and quiet." Feng Yu Sheng told himself that he was very "Buddhist".

For pricing, Feng Yousheng told reporters that after careful consideration, Ying Ke decided to choose a lower price limit of 3.85 to HK $5 in the issue price range. He says the cash flow is good, and financing is not the most important thing to be listed on the market. The price is to give interest to the investors and set up the confidence of the market. "Let everyone know that we are not the Internet to cheat money."

Feng Yousheng joined the A8 music network in 2004, and later founded the multi metre music. The latter listed the new three boards in September 2016 but left this year. In contrast, the enantiomers, which were founded in 2015 and started in Beijing houses, ended in December last year with the merger and acquisition transactions of the Asia International. After the failure of the plan for the listing of the curves, the Hong Kong stocks were swiftly changed this year.

"The success of Ying Ke was the accumulation and reflection of music that year." At the technical level, Feng Yousheng said, the core team of the audience was hatched from multi meters, inherited the experience in mobile technology, and accumulated more in business models and positioning. Before doing music business, I thought about how to make money every day, and I wanted to understand the business mode quickly.

Zhu Xiaohu told the first financial reporter that when he chose to invest in his own year, he looked at the company that was moving live on the market. He was a solid entrepreneur, but not much, but it had a deep and clear strategy for the thinking and operation of the product.

As for the establishment of a listing in Hong Kong in just three years, he told the first financial reporter that he valued the platform value of listed capital. For example, the promotion of brand awareness after listing, better attract talents, and make use of some leverage of international capital to make proper capital operation and integration.

In the prospectus, there was a slowdown in the active users of the live month. In response to the first financial reporter, the students chose to reduce the advertising in 2017, because the live industry went to the stage of the platform arrangement, accounting for the whole ROI, and he did not want to spend money on some of the data indicators of manufacturing prosperity. Especially in the homogenization competition of the live broadcast industry, the tourists chose to hold the position and crowd of the first tier cities, and naturally abandon some of the crowd.

For the future growth potential of live business, Yau Sheng said the company was established for only three years, and the mode of advertising and membership did not start, and the company began to have sales personnel until this year. After listing, in the field of entertainment video, we will continue to sink into the two or three line city, while there are also four or five product lines in the incubator, such as the live broadcast in the field of education.

Is the "new economy" cool?

This year, with the new regulations issued by the Hong Kong exchange, a number of new economic companies, including millet, the US group, the US group, the game, the dream world and the Tongcheng Yilong, have been released to the IPO. The Hong Kong stock market is facing an unprecedented capital banquet.

But this year, there had been a break in the field of hunting and remittance in Hong Kong.

Wind information data show that as of July 4, 2018, among the hundreds of new companies listed in Hong Kong stocks, 75 enterprises have broken the phenomenon of breaking, the rate of breaking up to 75%.

Is the "new economy" cool? Prior to this, Li Xiaojia, President of the HKEx, responded that all reforms should be based on the general direction, the big events and the great logic. Real meaningful reform is not a whim. He said the Hong Kong stock exchange had no green access, "we are the doorway to take the number", and the company with different rights can take the number. It changed that. "

Feng Yousheng believes that testing a company's standard is not continuous to investors to surpass the expected performance and products. If investors expect the new economy to be very high, and the enterprises will issue at a higher price, they may even face a fall.

He told reporters at the same time, at present, the deleveraging cycle is longer, the one or two tier market price inversion phenomenon, we are very cautious. This also means that the business model of enterprises should be tested in stages, not by burning money or investing.

The newly listed millet founder Lei Jun also told reporters that this year's plan to be listed is indeed many, the main reason is that the company has developed to a stage, plus the past period of time the market is better, but who did not think of the volatility of the market this year. "But I think the timing of a company's listing depends on the development of the company."

In Zhu Xiaohu's view, the past few years have been invested, this year, the beginning of the harvest season, the mobile Internet market has just started, and there will be more Internet Co listing.

"There will be a golden age of several industries in the past one hundred or two hundred years. The golden age of the industry takes up the market value ratio of the whole stock market at 40%~50%. The earliest golden age is the real estate and financial industry. Now information companies account for less than 20% of the total market value of the listed companies, far below the total market value of other industries in their golden age. Proportion. " Zhu Xiaohu said.

In the past, the PC Internet Co has usually been listed for six or seven years or more, but in the mobile Internet era, it has become a representative for three years to go on the market. "If we do the right thing, the speed of business development will be fast and the speed of listing will be very fast." Zhu Xiaohu said.

For the cold winter of the statement, Zhu Xiaohu also expressed his views to reporters, "two or three line funds may not have money, the first line funds still have a lot, the future industry will be more and more centralized."

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