Equity chips are distorted by business logicChinese nternet difficult to grasp the rhythm of listed


2, quality project transfer;

everyone voted as an example, most projects for the traditional service industry projects, but do not take into account the surrounding consumption level, consumer habits, the project feasibility is low, high risk.

October 26, 2010, Mcglaughlin landed Nasdaq, known as "China’s first B2C shares."". Following Mcglaughlin, in December 8th, Dangdang joined hands Youku synchronous landing NYSE, the stock price is becoming a stronger trend, a strong rise. Dangdang rose 87% on the first day, among the top 5 U.S. IPO first day gains in 2010. While Youku, which still has a poor record of performance, has been trading on its first day, up 161%, to be the highest on the first day of all IPO in the US since sh419 was listed in 2005. The two one under the concept Chinese "Amazon" concept, another China resorted to "Youtube+hulu", the same year listed Chinese network shares include BITAUTO, SouFun and Sky. Or tell the story, or hit "China’s ×, × ×", such a path almost all Chinese Internet companies listed in the United States will be a necessary step. History, however, has opened a new leaf. If you rely on the concept of packaging and listing, or at the beginning of the listing on the valuation of the enterprise is too high, even if the Nasdaq, the capital market will be mercilessly stripped of the veil, and eventually hit back to the prototype.

public equity raised at the beginning of development, the platform to cover user risk, to raise public projects strictly, excellence, at a slow pace of development in exchange for good reputation, and thus retain users.

equity investors raised the capital game tickets to the public, and more people formed a community of interests, thereby sharing the risk, and expect higher capital gains. Theoretically, his risk and earnings will be higher than the stock market.

feelings are part of the chips, but in the current China, the stock raised as a financial products, the audience is expected to pay the bill, rather than the idea of innovation, feasibility of paying.

Dangdang also failed to escape the fate of share prices. After Dangdang listed, the stock price fell for 6 consecutive days, the overall decline of more than 30%, from December 10th closing of $32.79 fell to December 20th closing of $22.92. In the industry, Dangdang shares fell mainly after the listing, Dangdang and Jingdong mall, Amazon triggered a price war with the saliva. Internet analyst Hong Bo thinks


, China’s 1 billion 400 million population, claims to have nearly 300 million of the middle class, the congregation raised participants concentrated in the first tier cities, confirmed the irony of poetry and distant words, want feelings, first get rich".

Dangdang has become the United States listed martyrs

Mcglaughlin opens Pandora’s box,

today, with the economic problems in the United States, Chinese Listed Companies in the United States are becoming more aware of the pressure, and it seems that it is becoming increasingly difficult to seize the "American dream".

but seek capital nature, rapid development is the expectations of shareholders.

this has led to many problems:

with the return of investment as the most important purpose of all participants, the lack of independent analysis and judgment of the project, relying on platform endorsement, the ability to resist risk is weak, the ability to invest in capital is not enough. Higher returns, higher risk projects still choose private financing.

is a magical thing with Chinese characteristics. It distorts the logic of things in itself and caters to a large number of audiences, thus obtaining primitive accumulation.

Mcglaughlin will not think of it, the first day of its shares closed at $17.26, or 56.91%, and this figure has become the highest closing price of Mcglaughlin NASDAQ so far. All of these have to do with a lawsuit. Mcglaughlin has just appeared on the market, has been a United States law firm class action, involving claims amounting to more than one million U.S. dollars. The reason for the prosecution is that Mcglaughlin in the initial public offering of related registration statements and prospectus disclosure of the company’s actual business and expectations inconsistent with false information. Since then, Mcglaughlin’s share price has gone down all the way.

but in the capital, policy expectations, management ambition and other factors, to raise public equity has been out of the steady strategy, into the rapid expansion of the track.

although the risk was equal, but for the elite investors grassroots investors and the lack of complete knowledge of business terms, their income is not sufficient to cover the risk.

2010, the New York people might have on the NYSE building and flying the five-star red flag in front of the building and a group of Chinese cheering scene flattering photo. In the securities market of the United States, Chinese enterprises are becoming more and more important, there is a big change from supporting roles to leading roles.

1, project feasibility decreased, capital returns declined;

since the reform and opening up, behind the industrial development and upgrading, is a huge amount of capital investment, the policy for the back door, the law is clear even in the fuzzy zone, turn a blind eye to the rapid completion of the primitive accumulation of capital, to go abroad, to grab global interests.

in all the chips in the west, the middle class for the feelings of the bill, so that the audience can cause feelings, but also slightly better natural, slightly innovative ideas. The participants provide initial start-up funds to all the sponsors who have only one idea. The benefits are good and there is no profit. Feelings are the spiritual chips to make up for economic losses.

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