Domestic large furniture have accelerated the pace of listing
the first half of the domestic large furniture companies planned for some time listing publicly on the agenda, and accelerated the pace of the market. Time, the listing of furniture enterprises seems to be blossoming. Flowers blooming market scene, reminiscent of last October's DaVinci listing guidance bulletin. Sent the industry into a deep crisis in the DaVinci legend, now apparently is satirical. Hot listings, furniture people more than a drunk at the same time, whether they should stay half awake?
professionals and financial experts say that furniture companies, currently available on the time is ripe it is worth pondering. Investors investment across the face of stock market quotes and contract status, capital operation of inexperienced furniture enterprises in the market really did get financing believe many furniture with the heart has no bottom, but what is certain is if a little careless in the capital markets may be beyond redemption.
according to the People's Republic of China securities law requirements, applying for the listing of enterprises must be three consecutive years of profit, net profit of more than 30 million yuan in three years; and its most recent fiscal year, intangible assets as a proportion of net assets less than 20%, the latest fiscal year net assets of no less than 20 million Yuan.
from the perspective of these two conditions, I believe that most of the furniture already meet this requirement. By 2010, the furniture industry has been in a period of rapid growth. According to statistics, in 2009 on the trend of Chinese furniture industry, achieved a growth of 11.4%, total industry output reached 650 billion yuan, many furniture industry output value shot up to hundreds of millions of Yuan.
However, the market upheaval in the instant situation. Since the second half of 2010, frequently blocked in foreign export markets and domestic real estate regulatory policy all the more severe and the impact of rising raw material prices, this year, the turnover of many furniture companies have fallen sharply, in particular the main European and American classical furniture business declined more than 50%, even leading enterprises with strength and scale, if compared with flat has been very good.
visible enterprise can steady profits remains to be tested, which also listed companies to plan for the future three years added more questions.
ability to get financing
companies usually have two purposes: to finance development and expansion of brand influence. Among them, the primary purpose of financing development is listed, through the issue of shares, publicly to raise capital to expand construction of project construction and brand building, channel to seek a broader space for development. However, the unpredictable current domestic and international stock market, global stock markets suffered a series of fluctuations, leading to investors ' desire to invest contraction.
from the perspective of furniture companies listed have been successfully, the furniture industry's operations in the capital market has not been highlighted. For example, Hennessy holding in June 2009, while listed on the main Board of the stock exchange in Hong Kong, offering price of only HK $ 1.02 per share, and ultimately raised more than 100 million Yuan Fund and Empire furniture listed as early as 2003, current average price is approximately 2.691 Yuan. The reason, in addition to outside the market environment is not matured, the most important thing was that the furniture industry big enough immature and incomplete management, channel network, and so on.
look the same as the manufacturer of "Belle", currently at 9.38 Yuan per share, listed by HK $ 8.6 billion, mainly thanks to Belle has 6090 proprietary retail stores in mainland China. Ask a rhetorical question: both are furniture enterprises in the manufacturing sector which has 6090 proprietary retail stores
can afford betting capital
the industry generally believe that, current speculation is heavy in the furniture industry, so many entered the furniture business capital is also the favor of speculative capital, which is not a good thing for the furniture industry. It is understood that there are some furniture companies to bet against VC Fund has signed an agreement, such as listing to reach 15% growth, the VC was awarded 5% shares; if unable to complete the 15% growth, enterprises may have to give up 10% or 10% per cent of the shares. In addition, signed with the VC also has time to market, profitability and other relevant requirements.
this unfair VAM enterprises everywhere are at risk of falling into the abyss. Even if the company successfully launched, VCs get to go in the sea after a fast buck. Therefore, crazy face capital, businesses must think twice before doing it.
can management, financial transparency
listed is a public model, companies no longer is the enterprise of one person or a few people, but public companies, any company with a certain social effect. Therefore, enterprises listing and financing the right and accordingly also the disclosure of financial information, events such as major changes to accept social supervision obligations. So, current furniture enterprises can effectively managing transparency and financial disclosure
Although the development of the furniture industry for more than 30 years, but many furniture companies have maintained a rough model of factory management: such as anything by the boss in charge, lack of a long-term development plan. There is no doubt that this rough management style furniture companies to seek listing the biggest obstacle. In order listed, many furniture companies have joint-stock reform, but the reform process is quick and hasty. From the look of it, set up joint-stock companies regulations, the establishment of the Board, improve the financial system, hire an attorney Adviser and other programs doing compliance specification fan, but the essence of business is always up with the system, it would be the most deadly combat, for example, once the bright furniture is because the internal financial bankruptcy.
industry experts say that, for the current furniture companies listed the time is ripe, it cannot be answered in general terms "ripe" or "immature", the enterprise must investigate the market timing and their time is also ripe, on the whole, the current is not the furniture industry the right time to enter the capital market, the furniture industry should wash away impetuous, sinking down to the hard skills.