Rebirth: The Financial Giant

Thursday, June 13.

Around ten o'clock in the morning, Lu Ming was sitting in the office with his back on the office chair, his eyes focused on the computer screen on the table.

Today is another historic moment in the capital market. The Science and Technology Innovation Board was officially opened today, and the top leader of the village personally presided over the opening ceremony.

At this time, Lu Ming was watching the mainstream media reports on this matter:

[As the news came from Shencheng, the eyes of all parties once again focused on the banks of the Huangpu River. In just over 200 days, from the announcement in early November last year to the gradual clarity of the plan and the official opening of the board today, the domestic capital market has ushered in a brand new sector.

Behind the historic moment lies the courage and efforts of reformers, the expectations and expectations of all parties in the market, and it also reflects the heavy responsibility of the capital market in the process of national economic transformation. The experimental field may inevitably encounter ups and downs, and all parties in the market need to be rational, inclusive, and jointly build, so that the reform of the Sci-tech Innovation Board will be stable and far-reaching]

The English name of the Science and Technology Innovation Board is STAR-Market, and investors from all walks of life are focusing on the opening of the Science and Technology Innovation Board today. However, it is worth mentioning that the opening of the Science and Technology Innovation Board today does not mean the opening of the market. The market will not be open until mid to late July.

Of course, all kinds of capital in the market, including retail investors, are paying attention to the first batch of companies listed on the Science and Technology Innovation Board. This is the key point.

As early as mid-to-late March this year, the Shanghai Stock Exchange disclosed the prospectus of the first batch of nine companies accepted by the Science and Technology Innovation Board. Among them, three companies have received much attention, namely Tianchi Technology in the field of new energy, and Tianchi Technology in the field of semiconductors. Zhuoshengwei and Pinduoduo in the e-commerce field, because these three companies are all related to Tiansheng Capital.

It is worth mentioning that Zhuoshengwei was originally going to be listed on the Growth Enterprise Market. The reason why it finally landed on the Science and Technology Innovation Board was to fill the list of Mihayou. The three companies that Tiansheng Capital was responsible for were Mihayou. It is one of them. As long as it is listed, it must be the first share in the big A game sector, and the market value has exceeded 200 billion yuan. However, the company's senior management finally decided not to list for the time being.

Pinduoduo was originally going to be listed on the US stock market last year, but finally gave up listing in the United States and returned to China to come to the Science and Technology Innovation Board, which currently supports the listing of companies with different rights of the same stock, which is also a highlight of concern.

As for Tianchi Technology, needless to say, the son of Tiansheng Capital, the company with the most fierce momentum in the new energy industry.

On the 5th of this month, the first annual review meeting of the Science and Technology Innovation Board Listing Committee was held. Six companies including Weixin Bio, Tianhuai Technology, Anji Technology, Tianchi Technology, Pinduoduo and Zhuoshengwei attended the meeting.

As of last night, the total number of companies applying for the Science and Technology Innovation Board was 125, of which 105 have been inquired, 16 have been accepted, 6 passed, 3 submitted for registration, and 1 terminated.

During this period of time, for the opening of the Sci-Tech Innovation Board, all aspects of work are in full swing.

In the first half of last month, the SSE and China Securities Depository Corporation organized the first full-network test of the Sci-tech Innovation Board business. Nine leading brokerages have obtained the right to refinance securities on the Sci-tech Innovation Board and have launched relevant tests. Routine testing of market, trading, clearing, custody and other links.

According to the Special Regulations on Stock Trading on the Science and Technology Innovation Board, individual investors must meet two conditions before they can invest in the Science and Technology Innovation Board. First, the daily assets in the securities account and capital account for the 20 trading days before the opening of the application authority shall not be less than RMB. 500,000 yuan, the second is to participate in securities trading for more than 24 months, that is, more than 2 years of stock age.

Individual investors who meet the two requirements can apply to the securities company for permission to open the Science and Technology Innovation Board, and after the opening of the Science and Technology Innovation Board, the primary market will be launched and the secondary market will be traded.

As for small and medium investors who do not meet the investor suitability requirements, they can participate in the Sci-tech Innovation Board through products such as public funds.

To put it simply, there are two ways for ordinary investors to participate in the Science and Technology Innovation Board. One is to directly participate with a relatively high threshold, and the other is to purchase public fund products to participate indirectly.

At present, there are already six science and technology innovation public offering funds that have been established in the market. The investment scope of such funds requires that at least 80% of the non-cash fund assets be invested in technology innovation stocks in the whole market, but it is not limited to the science and technology innovation board.

The reason is that these funds can invest in many technological innovation stocks on the Growth Enterprise Market, the Small and Medium-sized Board, and the Main Board when there are currently no targets on the Science and Technology Innovation Board.

With the launch of the future stock issuance on the Science and Technology Innovation Board, the technology innovation stocks invested by these funds will be dominated by the Science and Technology Innovation Board.

However, among the six major funds, there are no products of Tiansheng Fund Company. At present, Tiansheng Fund is mainly formulating the Science and Technology 50 ETF, which is less than the next year.

There is a relevant report on Lu Ming's desk. According to estimates, the number of eligible people in the domestic capital market exceeds 3 million, which means that individuals who can directly participate in the new and secondary market trading of stocks on the STAR Market through securities accounts There are more than 3 million investors.

In addition, there are more than 4,000 institutional investors, mainly seven types of institutions, including securities, funds, trusts, insurance, finance companies, qualified foreign institutional investors, and private equity fund managers.

There is another news today. The London Stock Exchange officially announced that all the preparations for the launch of the Shanghai-London Stock Connect have been completed, and issuers can apply for trading on the main market of the London Stock Exchange, or issue depositary receipts on the main market of the Shanghai Stock Exchange. Shanghai-London Stock Connect is the latest milestone in the cooperation between the two parties.

The Science and Technology Innovation Board officially opened today, and the first batch of listed companies that have passed the meeting also officially opened for subscription today, which means that investors who invest in the conditions of the Science and Technology Innovation Board can also enter new ones.

What is certain is that the first batch of companies listed on the Science and Technology Innovation Board will not exceed 30, and the total financing scale of the first batch of listed companies is expected to be around 60 billion yuan.

Among them, Tianchi Technology has the largest financing scale. The IPO raised 20 billion yuan, accounting for one-third of the total financing of this batch of listed companies, followed by Zhongguotonghao, which has a financing scale of 10.5 billion yuan, accounting for 10.5 billion yuan in financing. About one-sixth of the total, and then Pinduoduo, the IPO fundraising on the Science and Technology Innovation Board this time is 6.9 billion yuan.

The combined financing scale of these three companies accounted for about 62% of the total funds raised by the first batch of listed companies.

Among the first batch of listed companies listed on the Science and Technology Innovation Board, Pinduoduo has the highest issuance market value, with a valuation of up to 171 billion yuan, which is a company that has received a lot of attention in the capital market.

But to say that the most concerned is of course Tianchi technology.

The subscription is officially opened today, and eligible shareholders can also buy new ones.

Stock abbreviation: Tianchi Technology

Stock code: 688868

Issuing market value: 37 billion yuan

IPO raised: 20 billion yuan (54.05% of the total share capital)

Issue price: 13.70 yuan

Total share capital: 2.7 billion shares

In terms of major shareholders, the largest shareholder is Tiansheng Capital, which holds 34% of the total shares; the social security fund holds 10%, Ningzhou State-owned Assets holds 7%, and the senior management team or option pool reserves 11.95%. Wanxiang, Chaoyun and other five institutions each hold 5%.

In addition, launching new products online, that is, raising 4.45 billion yuan from retail investors and small and medium investors, accounting for 12.05% of the total share capital.

With the imminent IPO of Tianchi Technology, today's development and purchase of new products, more relevant information will be disclosed one by one.

Small and medium investors soon sparked a lot of discussions on Tianchi technology, among which the most discussed was the market value of issuance, and most of the ordinary shareholders said they couldn't understand it.

Tianchi technology is such a good new energy vehicle manufacturer, sales are so explosive, it is rumored that the record of new energy vehicle companies' million-year sales will be won by Tianchi, but its market value is only 37 billion yuan?

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