Research On The Issues Of Transferrd-board NEEQ Company

Although the number of listed enterprises on the NEEQ and the transaction value of NEEQ have grown rapidly since 2013,due to the small financing scale and lack of liquidity,more and more outstanding enterprises listed on the NEEQ have been transferred to other markets for IPOs,including Main Board,Small and Medium-sized Enterprise(SME)Board,Growth Enterprises Market(GEM)Board,and Sci-Tech Innovation Board(STAR BOARD).Wanma Technology Co.,Ltd.is one of them.Most NEEQ enterprises have improved their operating performance after listing on other markets,but there are also some enterprises that have experienced a decline in their operating performance after listing.Wanma Technology,the research object of this article,has not improved its operating performance after transferring to the GEM Board,but has made it drop significantly.This article analyzes the issues existing in transferred-board Wanma Technology,such as inadequate use of raised funds,the eagerness of major shareholders,directors,supervisors and executives to reduce holdings,the lack of timely adjustment of the capital structure and the company strategy,and then analyzes the economic consequences of Wanma Technology after tranfferring board.It is found that the profitability of Wanma Technology significantly decreased,and its solvency and R & D capabilities did not improved after transferring to the GEM.In response to the issues existing in transferred-board Wanma Technology,this article gives Wanma Technology suggestions to improve operating performance,including improving the use of raised funds,strengthening the management of fundraising projects,strengthening the supervision of reducing holdings of major shareholders,directors,supervisors and executives,improving R & D capabilities and adjusting sales strategies.Finally,summarize the full text,and provide reference suggestions for the NEEQ enterprises planning to transfer board to deal with the issues caused by transferring board.