The only products listed on the twists and turns CD materials will visit the New York Stock Exchange has been four days, Throughout the IPO process, can be used twists and turns to describe. The only product released by the prospectus, the company's cash flow is subjected to greater pressure. Last year, the only products will achieve net income of $ 227 million, gross profit of $ 43,340,000 and a net loss of $ 107 million, the average monthly loss of nearly nine million U.S. dollars. As of the end of 2011, cash and cash equivalents will have the only product with only $ 44,954,800, and did not pay off bank loans of $ 12.7 million. Industry analysts, before the successful IPO, the only product to pay off bank debts, the accounts of cash only to support operations in mid-March, from the bankruptcy only more than one month. Such as repayment, the only product that will own funds can only adhere to May this year. Meanwhile, according to media reports, the only product roadshow has not been institutions to respond positively to the issue price reduced to $ 6.5 $ 8.5 from the initial lower limit, the amount of financing of $ 71.5 million, compared with the original plan to raise $ 120 million decreased 40%. Even if the issue price from $ 8.5 bottom line down to $ 6.5, the only products still in the first day of opening, plunged 7.8 percent, to close at $ 5.50, suffered a break embarrassment, a decrease of 15.38%. However, industry sources said that the only product prior to listing, sharp decline in the issue price, the first day, suffered a break, but the only product will eventually landing NYSE shows to some extent the United States secondary market investors For in almost the confidence of the shares began to recover.
Add to this the overall U.S. economic environment has improved, also injected a shot in the arm to the capital markets, the U.S. IPO of the Chinese enterprises to create a better timing. By listed electrical losses The only product is not the first successful U.S. IPO electric providers. 2010 Mecoxlane Dangdang two "decades old" to the United States successful IPO. Annual Report of the reporter access to the two companies found that the two companies into a loss after the listing of vicious circle. The reporter's inquiry found that "China B2C first unit Mecoxlane listed in 2010, in addition to a loss of $ 6,650,000 in 2006, the rest were to remain profitable state. But after the listing, Mecoxlane 2010 net profit of $ 4.4 million, fell more than $ 7,210,000 in 2009 that nearly forty percent. Last year, Mecoxlane losses soared to $ 33.3 million. The same as Dangdang already on the market, but only had a year's earnings history. Dangdang, CEO, Li Guoqing, has said publicly that Dangdang year earnings history is a source of Dangdang confidence in e-commerce industry. The reporters found that the Dangdang net profit of $ 30.8 million in 2010, but financing last year, Dangdang net loss of 229 million yuan (about 36.3 million U.S. dollars). The two already on the market for electric stock, although not with the only product on the first day was a break, but the listing so far the overall downward trend. As of press time, Mecoxlane closing price of $ 1.36 in 2010, its issue price ($ 11) or close to 90% of; the Dangdang closing price of $ 7.39, 2010, issue price ($ 16) than the decline in over half.
The industry believes that the key to power business operations, capital chain. IPO to meet the financing needs of B2C Web site, and have sufficient amount of cash, electricity providers will be able to carry out more industrial investment operations, which better than the competitors. This is also the number of e-commerce sites have listed the main reasons. Electricity supplier market is fiercely competitive, crazy expansion of the scale advertising campaigns, price war means endless, the faster the burn speed, even if the listing is successful there is still loss. IPO is not the only way out As we all know, has been in China's B2C business financing, burn, expand the scale of the refinancing "of the cycle, when private financing deal collapsed after the IPO to be their only way out. Therefore, even if beaten still have to enter the Exchange door B2C they continue to "bleed the tragedy of the listing". The analyst also said that the listing, they must accept the harsh financial control to achieve a fair and transparent business and to diversify the equity investment and expand the market are also subject to the constraints of the various aspects of shareholders. Still in the development of electric commercial enterprises, is not necessarily a good thing. But in the view of the securities analyst, for the electricity supplier companies, listed improving operational means rather than the ultimate goal. "Only the annual profit of more than 10 million U.S. dollars, listed makes sense, otherwise even the market, the low price-earnings ratio will raise capital will be very limited." Industry a voice that only products will be listed does not mean that the electric and commercial enterprises to the United States listed the window to reopen, but rather in testing the waters, the only product and the U.S. capital community test. Electric and commercial enterprises to look at the capital market trends, capital markets need to see a real, credible, beautiful performance report. Electric commercial enterprises still need to Lianhaoneigong solid wanted stability, good performance, the real strength to attract the favor of the capital markets. "A B2C business person in charge said.
It's written by GoodLandShoes date 3.31.2012
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