A Case Study On The Financing Dilemma Of Listed Companies On NEEQ Based On JinShuo Group

In order to serve the real economy and SMEs, and to alleviate the financing difficulty of SMEs in our country, National Equities Exchange and Quotations(commonly known as the "new three board") was incorporated in 2012. In recent years, NEEQ has made big progress. But with the existing problems of the NEEQ and its listed companies, financing of the listed companies still faces a lot of problems.The thesis uses micro and macro analysis, combining with quantitative and qualitative analysis. The analysis object of the case is Jin Shuo Information Technology Group(referred to as “Jin Shuo Group”), which is listed on NEEQ. Based on the analysis of the current situation, problem, and its cause of financing of Jin Shuo Group, as well as the condition and characteristics of Jin Shuo Group, this thesis puts forward suggestion to ease the financing difficulties of Jin Shuo Group. And taking it as the breakthrough point, this thesis extends the universal conclusions and suggestions to all the listed companies. Considering the characteristics, financing situation and problems of listed companies and the problems of NEEQ, this thesis puts forward specific proposals to solve financing problem of all the listed companies.Study found that financing of listed companies generally has small size, high cost, and narrow channels. NEEQ has poor fluidity, limited power, and its financing function needs to be improved. To solve the financing problems of the listed companies and strengthen the financing function of NEEQ, on the one hand, listed companies need to improve its own power, strengthen cooperation with other enterprises, broaden financing ways, build corresponding financing pattern to its own development situation, make financing plan beforehand, optimize their asset structure, and improve financing effect. On the other hand, the government may lower the standard of investors, adjust its subsidy methods to the listed companies, perfect the NEEQ system, and strengthen its supervision on NEEQ in order to provide a good external financing condition for the listed companies.