A Case Study Of Three New Board Listed A Company

Since 2013,the expansion of the new three board market,the new three board market make a great rapid development.As of April 2017,the number of new three board listing has more than 10000,and there is a trend of further development.China's small and medium enterprises also seize this opportunity to actively apply for the listing of three new board,actively seeking new ways of financing for enterprises.Enterprises eager to break the traditional way of financing,access to capital markets,financing.In this paper,A company listed on the new board as an example,the basic situation of A company and the development prospects of listed after analysis.Mainly for the A company before the listing of the operating conditions,the company's pricing,the company's listing process,the company's governance analysis.This A in the listing before the operation,including the analysis of A company's assets,profitability,debt level and operational level,that the A company has been in line with the new board listing requirements,but the financial situation has a certain risk.Through the analysis of the pricing of the company,the valuation is reasonable,in line with the actual value of the company,but due to the selected valuation method,and the main reference is the historical data of the company,there is a possibility of deviation.Through the analysis of the company's governance structure,the company's governance mechanism is gradually improved,the company's governance has been improved,but there is still the actual control risk.Through the analysis of the situation of the listed companies in the new three board market,the prospect of the listed company of A is prospected,That the A company listed on the new board,can be carried out in the market and private placement equity pledge financing way to break the traditional enterprise,raise the funds needed for the development of enterprises,to inject new vitality into the development of enterprises.A company can transfer of shares in two markets,equity trading may produce premium effect,the wealth of shareholders to bring added value,on the other hand,shareholders can be withdrawn through the equity transfercompany,increase the flexibility of shareholders.At the same time,after the new three board listing,it became a public company,is conducive to enterprises by the government,banks,financial institutions concerned,resulting in a brand effect.Although listed in the new board by a lot of benefits,but there are some challenges.First,the company became a public company,the industry's attention has been significantly improved,so that companies in the same industry in a competitive disadvantage.Secondly,the company's information disclosure,the company listed,the need to regularly disclose semi annual report,annual report,etc.,may disclose the company's trade secrets,weakening the competitiveness of the company.Finally,through the analysis of the new three board market transactions,found that the new three board market liquidity is poor,A listed in the new three board market,may also face the problem of poor equity transactions.In conclusion,this paper analyzes the operation status of A company,corporate governance,pricing and so on,that the A company although the three new board listed the conditions have been met,but there are still many problems,the common problems for the A company in the new board listed existing in the process,and put forward reasonable suggestions to me in the small business,later on companies listed on the new board to provide reference experience.At the same time,the A listed companies after the analysis of opportunities and challenges in the new third market,that Chinese enterprises listed in the new board market advantages,and actively encourage small and medium-sized enterprises of our country should seize the opportunity to break the traditional corporate financing mode,listed for trading on the new board to raise funds for the market.The development of enterprises.