Financial Results Of The Study Oxiranchem Over-Raised Funds

October 30,2009, after a decade of debate, waiting and preparation, the industry as "Chinese NASDAQ" GEM market was officially launched, as of December 31,2012, there have been 355 companies 107 points batch GEM market successfully financing. Due to the high issue price, the GEM raised funds over the phenomenon intensified. According to WIND Information and Statistics, has listed 355 companies with funds raised over 347 cases, it plans to raise net proceeds of 873 million yuan, the actual net proceeds of 2,149.17 billion yuan, the net funds raised over 1,276.17 billion yuan, oversubscription ratio as high as 146.18%, the average GEM listed companies raised over 359 million yuan. Faced with such a huge amount of funds raised over how rational and efficient use, open since becoming GEM has been a hot topic of debate.GEM listed companies frequently hit the newspapers for the improper use of funds raised over the behavior of the Shenzhen Stock Exchange to develop and implement "GEM Information Disclosure Memorandum No.1-Super raise funds "devoted to the GEM listed companies raised over the use of funds to make provision. However, the use of ultra-raised funds still have considerable arbitrariness. The main performance is, inefficient use, waste, misappropriation of funds raised over issues such chaos, super-raised funds to over-investment, capital replacement, buy a car, or even placed directly on the banks and other interest-bearing capital market do not meet the optimal allocation of resources the case features abound, worrying. GEM listed companies raised over the improper use of funds, contrary to the wishes of the initial investors to the detriment of the interests of shareholders, and ultimately affect the market value of listed companies, harm the interests of investors.Based on the above considerations, resulting in GEM listed companies raised over improper use of funds for many reasons, including the use of funds raised imperfect relevant laws and regulations, regulatory agencies deficits, a major shareholder in order to achieve personal income. Research on the GEM listed companies raised funds over improper use of reason, seek to prevent such behavior irrational investment strategies, realistic needs of our capital markets. In this paper, the theoretical analysis and case analysis method of combining analysis of companies listed on GEM improper use of funds raised problems.Case Studies section, select Oxiranchem Limited funds raised over the use of case studies, presentation of the case the company raised funds to be used to analyze the financial results, economic performance dialysis, and then outside to the inside, from the point and the surface, a comprehensive analysis of the GEM listed companies raised funds over improper use of cause and effect, and the corresponding countermeasures.