New OTC Market Financing Problem Research

Although in recent years to our country economy rapid development,but in the process of development also faces the pressure of economic downturn,and many industries have been unable to give our economy take-off power.So you need to occupy the important proportion of small and medium-sized enterprise economic subject for our country economy continues to deliver new vitality,whether they grow new relationship between the vibration state of the economy,the current sluggish economic environment,the entity economy,national implementation of strategic transformation-and build and perfect the multi-level capital market system cannot leave the development of small and medium-sized enterprises,and the development of small and medium-sized enterprise is the most key link is whether they need funds raised to expand production scale,technical research and development,etc.Therefore,to develop the new OTC market market in our country,hope the new OTC market market can provide financial services for small and medium-sized enterprises,for small and medium enterprises to provide diversified financing channels,to solve the plight of financing difficulties.Through the capital market,making money is optimized configuration,need them into the real economy.The role of the new OTC market is to those innovative,technology-based small and medium-sized enterprises to provide platform and channel to raise money,the new OTC market with unique system,such as rotating plate system,hierarchical system,also stipulates that the brokers need to listed companies for continuous supervision and inspection,regular financial reporting allows investors to better understand the situation and development prospect of listed corporate earnings,etc.,not only to reduce the risk of financial markets,at the same time also makes the capital flow to be approved by the investors,the excellent enterprise has a bright future.Because of the new OTC market listed companies are belong to the start-up stage,although high growth,good prospects,but there are anti-risk ability is not strong,lack of mature management system,does not have enough assets to pledge loan financing the adverse conditions,and so on,so it is difficult to go to raise needed funds to expand production scale,new technology research and development,etc.New OTC market from three in 2012 in high-tech zone within the scope of the pilot,the new OTC market then expanded to a nationwide in 2013,more and more small and medium enterprises listed on the new OTC market from 10 in 2006,after the expansion to the whole country in 2016 in a listing on the new OTC market enterprise number soared to 10163.Although with the 2013 new OTC market after the expansion,the new OTC market in scale,market,liquidity has got a rapid growth of aspects,but the new OTC market listed companies financing efficiency is still cannot be compared with the main board market,will not be able to satisfy the business enterprise demand for capital,liquidity,investor enthusiasm is not high also.This article mainly from the following four aspects analyzes the financing efficiency of the new OTC market:first of all new OTC market structure of listed companies is analyzed,including the general situation of the new OTC market data,data analysis and regional distribution of industry,it is concluded that the new OTC market all listed companies in the industry and regional concentration is very high;Next to the new OTC market listed companies financing present situation,including setting increases,equity pledge,privately raised company bonds were analyzed,it is concluded that the present new OTC market enterprise financing is still single,still give priority to with constant increase,then analyze the data of the new OTC market stock liquidity,including total equity,circulation capital,turnover,turnover rate,etc.,and compare with the motherboard market liquidity index,it is concluded that the present new OTC market still lack of liquidity,Then,the new OTC market listed companies financing case for analysis and collation,and finally,according to the foregoing,the new OTC market financing problems are analyzed,and finally put forward their own suggestions.