Research On The Private Enterprise' Success In Listing On The Gem In China

It has been ruminated for 10 years before the declaration of the official launch of the growth enterprise market (GEM) in 2009 in China. Undoubtedly, this domestic GEM will not only set light to the economic development in China, but also bring about good opportunities for small and medium non-state-owned enterprises, especially for private high-tech enterprises. Therefore, it is of great necessity for a private high-tech enterprise who plan to list on the GEM to conduct some research to related matters about listing on the GEM in China, draw lessons from others who have succeeded in listing, and get listed by following some specific requirements.In this paper, the author takes Jinlong Machinery & Electronics Co., Ltd, a private high-tech enterprise who is specialized in researching, developing, producing and selling micro-special-motors, as an example. Jinlong has take the domestic GEM as its primary choice to achieve its strategic goal, and has been listed on the Shenzhen Stock Exchange Market successfully on December 25, 2009. In this paper, the author will give a relatively explicit exploration and analysis to matters about Jinlong's listing qualification and procedure, prep work before its listing --including its choice to intermediary institutions, its transformation and reorganization, its IPO process, and its list price), stock issuance and continual disclosure of information after its listing.Therefore, for one thing, this paper is about a study on how Jinlong Machinery & Electronics Co., Ltd succeed in listing on the GEM in China; for another thing, it is of great reference for other small and medium enterprises who want to list on the GEM in China.