Strictly review IPO and not go public with problems
Source: Beijing Business Daily
Beijing Business Daily (reporter Cui Qibin and Liu Fengru) At the full delegation review of the Shanghai delegation held on the afternoon of March 5, Zhu Jiandi, a deputy to the National People's Congress and the chief partner of Lixin Certified Public Accountants, suggested that we should continue to strengthen the supervision of IPO, strictly review IPO, and not go public with illness.
Zhu Jiandi said that we should strengthen the follow-up supervision of capital market financing and continue to release the dividend of supply side reform. From the perspective of the capital market, enterprises can integrate social funds through IPO, mergers and acquisitions, and backdoor listing to promote industrial adjustment. However, during the audit, we found that some listed companies were dishonest, and some companies changed the use of the raised funds at will, illegally raised funds and carried out cross-border large-scale acquisitions. These companies were preparing lies. Other companies have signed wager agreements in enterprise mergers and acquisitions, which have agreed on high performance commitments that are difficult to achieve. Through high price acquisitions, they have formed a large amount of goodwill. Now there are more than 100 billion yuan of goodwill assets, and each enterprise has to bear an average of more than 600 million yuan. Once the performance is not up to the standard, the large amount of goodwill assets will be revalued, which will cause losses. Many other enterprises use stock pledge to obtain bank funds, which will lead to market panic once their positions are blown out and closed.
Therefore, Zhu Jiandi suggested that in order to strengthen the supervision of listed companies' financing, it must be used in accordance with the provisions of the CSRC. We should strengthen the supervision of fund products and asset management companies, and supervise whether these institutions have invested their funds in the real economy, so as to prevent financial giants from speculating in the capital market and causing trouble, damaging the interests of small and medium-sized investors.
In fact, the regulators have made it clear many times before that they should prevent enterprises from going public with diseases and keep the "entrance gate" for listing. In particular, since the operation of the "DFAC" last year, the audit style of the DFAC has changed more, and more attention has been paid to the authenticity of enterprise performance, gross profit margin, internal control system and other more detailed issues. In the view of insiders, the IPO acceleration and strict review are still inseparable, and those companies that want to achieve the purpose of listing through financial packaging will no longer have room for survival. The stricter audit will help further improve the quality of listed enterprises.
Editor in charge: Chen Youran SF104
