Research On The Issue Of Turn Board In NEEQ Of China

In 2017,the market of turning board in NEEQ of China is obvious hot.According to statistics of the Eastmoney Choice,the number of companies of NEEQ which turned to the A-share market has increased from 12 at the beginning of 2017 to 30 at the end of the year.In 2017,the number of companies which turned board successfully have surpassed all previous successful cases.However,at the same time,the number of companies listed on the NEEQ has reached 11,630.By contrast,the quantity of companies which turned board successfully is still very thin.Under this background,this article takes turning board in NEEQ of China as the research theme,through analyzing the current situation of the companies of NEEQ and switchboard case of Three Stars New Materials corporation,then provides some feasible suggestions for the new three-board switchboard mechanism in China.This paper adopts the current situation analysis method and case analysis method to study and analyze the new three-board.The article first introduced the background of the topic and the research status at home and abroad,and then introduced the concept of the transfer board and related theories in detail.In the part of current situation analysis,starting from the policy background,the status quo of the transfer board,and the current feasible transfer mode,and from the fact that the new three-board market has begun to take shape and the stratification system has come to the ground,the new three board transition system has already begun to implement the foundation.At the same time,taking the first domestic switchboard-to-board company,Three Stars New Materials corporation,as a research case,it first introduced its background,industry development status,and the transition process,and then adopted its turntable motives,transfer costs,and transfers.The following three conclusions are drawn from the results of the board study: The lack of liquidity in the new three-board market is serious,the new three-board transfer mechanism is not perfect,and the cost of switchboard is too high.Finally,based on the analysis of the current situation and the results of the case analysis,this article draws the following enlightenment: First of all,to solve the lack of liquidity in the new three-board market,it can lower the access threshold for investors and introduce public funds to expand the transaction size and improve new three-board activity;Secondly,the problem of imperfections in the new three-board transfer mechanism and the high cost of the transfer board.In the final analysis,due to a single IPO transfer mechanism,it is possible to establish a “green channel” or launch a “selected floor” to connect with GEM docking pilot to improve.