Case Analysis On The New Three Board Financing Of DX Company

Nowadays,our country is in the "new normal" economic transition period,the science and technology is an important means of promoting economic development.The SME(small and mid-sized enterprises),the support of science and technology competitiveness,which has sheer quantities and covered wide range of characteristics,has become the backbone of the economic development of the country.But due to the small scale,the technology cannot practically translated into productivity,our enterprises is restricted by the financing difficulties with slow developing speed.The emergence of new three board market solved the equity financing problem of small and mid-sized technology-based enterprises causing by the "high threshold" main board market.DX company is a typical small and mid-sized enterprise in Hefei that is setting up in 2009.Because of the smaller of bonding finance,the company is struggling.Until the end of 2013,net profit is in a row of negative for three years and net worth is even lower than the registered capital.In 2014,with the help of government,the yuan securities and itself,the company successfully appear on the new third board.Company capital condition improve and have enough money for technology research and development,eventually into actual productivity benefits.At the same time,the company expand the scale,and optimize internal governance structure.The company's reputation was improved.New three board listed a lower threshold,but the company still needs to meet the joint-stock company,clear corporate governance structures and other basic conditions,and recommended by the completion of the listing broker.The DX company successfully listed on the new third board market,solves the problem of difficulties in financing,and also optimizes the internal governance structure,increasing the overall strength of the company.But at the same time,it also exposes many problems: financial information disclosed by companies is not perfect effect of financing effect;do not match the scale of enterprise's operation and development,internal management and rough;long investment time,lack of timeliness.The most of small and mid-sized enterprises in Hefei are not limited companies;Their independent research and development ability is poor,unable to obtain expected earnings;Without enough capital,they lack support from governments.All of these factors hinder the companies using the new three board market financing,which restricts the development of companies.The successful cases of DX company listed on the new three board inspire small and medium-sized enterprises of science and technology.And in order to overcome these difficulties,you need multilateral efforts of the companies itself,government,agencies.Companies need share reforming and adjust the internal structure at the same time to be up to the rigid standards;At the same time they should raise their core creativity to attract sustained invest.Local governments need to create a good market environment for the enterprise,give policy support and set up service integration.Agency must improve business ability to accumulate experience for the new three board market.To sum up,based on the DX company as the breakthrough point,through the analysis of the financing situation of the company and for the small and mid-sized enterprise in Hefei listed on the new three board as a feasible conclusion.DX company,for example,can make the "new three board to solve the financing difficulties" conclusion,be practical support,let the small and mid-sized enterprise can depend on.At the same time hope that through case analysis,provide reference for the government to promote the new three board.