the CSRC actively supports eligible listed companies to carry out refinancing and mergers and acquisitions. At present, there are no changes in relevant regulations and policies, and any changes and adjustments in the future will be announced to the public through formal channels.
the rumor that the CSRC has suspended the cross-border fixed growth of listed companies has been spreading continuously recently, until the afternoon of the 13th, the spokesman for the Securities Regulatory Commission, Deng Jie, officially responded to the recent rumors in the market that the Securities Regulatory Commission had suspended the "cross-border fixed increase". he said that the CSRC actively supports listed companies that meet the requirements to carry out refinancing and mergers and acquisitions. At present, there is no change in relevant regulations and policies, and any changes and adjustments in the future will be announced to the public through formal channels. so far all speculation has become nonsense. On May 11, according to Caixin, a person familiar with the matter revealed that the CSRC recently suspended the cross-border growth of listed companies, involving Internet finance, gaming, film and television, and VR. At the same time, mergers and acquisitions and refinancing in these four industries have also been suspended. the person familiar with the matter also cited as an example that cement companies are not allowed to invest in the above four industries through fixed acquisitions or raising funds, and mergers and acquisitions and refinancing in these four industries have also been suspended. However, the CSRC encourages listed companies to develop industries. For example, it is possible for cement companies to increase cross-border photovoltaic industries, but cross-border gaming industries will be prohibited. as soon as the news came out, the related online games and virtual reality concept stocks plummeted. By the end of the day, online games were down 2.93% and virtual reality were down 2.89%. Ranked first or second on the decline list of the concept sector. for this rumor, there have been two different voices in the industry, some people think that it will help reduce the bubble and promote the health of the industry. < strong > Zhang Ying, founding managing partner of Matrix Partners China: < / strong > on the news that the CSRC has suspended the increase in cross-definition, he believes that such a measure may reduce the current popularity and bubble of entrepreneurship. At the same time, he said that he is not afraid of capital winter or financial turmoil, so that you can more accurately see which companies are really valuable. 'no matter whether the big market is good or bad, capable founders can always raise money, and adversity will only make surviving companies more valuable,'he said. < strong > Gobi Venture Capital partner Xu Chen: < / strong > is actually positive, otherwise the prices of some industries are too outrageous, the premium of listed companies will go up as soon as they enter this industry, and the competition pattern will produce an unhealthy tilt and a lot less noise, but at the same time, there will be less takeover. < strong > Jiuxuan Capital Liu Yizhou: < / strong > in the first half of this year, several investments in the VR sector were made by listed companies, but VC is very cautious. After the new regulations of the CSRC, VR projects that rely on increased investment (market capitalization management) of listed companies without long-term profit logic should pay more attention to investment logic. VC is not so easy to deceive. < strong > Li Zhonghang, Chairman of Shanghai Futang Asset Management: < / strong > this move should be to regulate the financing environment of the capital market. Regulators strictly control the fixed increase in the hope that capital market funds will concentrate on supply-side reform and that more financial capital will enter the real economy, which will be good for the market for a long time. some people think that the SFC's move is against the trend and hinders the development of emerging industries. < strong > Yi Kai Capital CEO Wang ran: < / strong > similarly, after the privatization and dismantling of the VIE structure, 100% of the domestic companies should enjoy the national treatment of domestic companies. Whether they can be listed, in what way and at what price should be the choice of the company and the market. If you want to curb the hype of shell price, the really effective way is to open the channel for backdoor companies to list independently through IPO, rather than artificially limit the industry attributes and prices of backdoor trading. in the numerous discussions, although the rumors have settled today, the outside world has only increased its attention to the developments of Internet finance, games, film and television, and VR. some media analysts have pointed out that there is indeed a big bubble in the valuation of the above four types of industries. Although it is difficult to have a clear standard to judge whether the valuation is reasonable, as long as the logic is feasible, it will inevitably cause a lot of doubts in the market. For example, the phenomenon of box office water injection is widespread in the film and television industry, this false prosperity is a bubble for the film and television industry, so that cross-border to the film and television industry enterprises and capital face great risks.
Edit: yvonne
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