With the successful passing of Zhou Dasheng and Jinyi Technology, 80 companies have successfully passed the meeting so far in 2017***. In these 80 companies, how long does it take for a company to receive approval from the meeting, which intermediaries undertake the most projects, what is the situation of the issuance cost rate, and what is the situation of the geographical area to which the company belongs, in this article, the Niu Niu Financial Research Center will be elaborated one by one.
One, how long does it take to get the approval
So far in 2017, 80 companies have passed the meeting, there have been 52 companies to get the approval of the approval, by combing through the information published by the Securities and Futures Commission, analysis of the time required from the meeting to get the approval of the approval of the situation is as follows:
It can be seen that from the meeting to get the approval of the approval of the majority of the companies need to be It can be seen that from the meeting to the approval, most of the companies need more than a month, only two companies to get the approval time is the shortest, only need 4 days, the two lucky ones are Minova and Longpan Technology, Minova and Longpan Technology are on March 6, the hair review will be passed on March 10 to get the approved approval.
Minova is registered in Ningbo, Zhejiang province, and the questions raised by the review committee at the meeting were:
1. The issuer's representative was asked to further explain whether there is a relationship between KRKA and the issuer in terms of shareholding relationship, degree of participation in the management, technology, market, pricing of the products, and quality control, etc., and whether there is a reliance on the issuer's sales of KRKA, and whether the related risks are sufficiently disclosed and sustainable, and whether the risks are sufficiently disclosed and sustainable. Whether the issuer's sales to KRKA are dependent on KRKA, whether they are sustainable and whether the relevant risks have been fully disclosed; the main reasons for the fluctuations in different directions between the issuer's supply price to KRKA, sales price to other customers, unit price in Europe for products from China, and unit price in Europe for products from India, and whether the issuer's sales price to KRKA is fair. Please ask the sponsor's representative to give a verification opinion.
2. The representative of the issuer is requested to further explain whether the production and operation of the issuer complied with the relevant national environmental protection laws and regulations during the reporting period; whether there were any major environmental protection violations during the reporting period and up to now, and whether the relevant penalties constitute a significant impact on the issuer's production and operation as well as its financial situation. During the reporting period, whether the production and pollutant discharge of the Issuer's subsidiary Anhui Minowa Pharmaceutical Chemistry Co., Ltd. complied with the relevant laws and regulations, and whether there was any risk of being penalized; the reasons for the repeated occurrence of environmental violations by Zhejiang Minowa Pharmaceutical Chemistry Co. Whether the issuer's internal control system on environmental protection is sound and effective, and whether it has been effectively implemented; whether the issuer's construction and operation of environmental protection facilities and related processes meet the requirements and have been effectively implemented, and whether they are compatible with the scale of production. Please ask the sponsor's representative to give a verification opinion.
3. The representative of the issuer is requested to further quantify the main factors for the gradual improvement of the gross profit margin of the main business during the reporting period. Please ask the sponsor's representative to give a verification opinion.
4. Will the representative of the issuer please further explain the reason why the shares of Shanghai New Five Continents Pharmaceutical Co., Ltd. were held by a third party on behalf of the actual controller of the issuer before it was acquired by the issuer? Please ask the sponsor's representative to give a verification opinion.
During the reporting period, the financial situation of MENOVA is shown in the following chart:
Longbranch Technology is registered in Nanjing, Jiangsu Province, and the questions raised by the Board of Issue at the meeting of Longbranch Technology are as follows:
1. Please ask the representative of the issuer to further explain the issuer's investment in information technology management of the distributors, its use and coverage, and whether it achieves the purpose of effective management; and whether, in view of the rapid rise in the number of distributors, the issuer is able to achieve effective management. In the case of a rapid increase in the number of dealers, the issuer's internal control system for dealer management, the implementation of the internal control system during the reporting period;
2. The issuer's specific management mode and management of the dealer's purchase, sale and inventory.
3. Please ask the sponsor's representative to further explain the verification of the above information technology means, in the verification of the distributor's import, sale, inventory and financial transactions, whether the use of such information technology means of comparison, the specific circumstances of the comparison, and whether the issuer's internal control system for the distributor's effective operation.
In the companies that have been approved, the longest time required for the two companies for the Opie Home and Debonair Lighting, Opie Home and Debonair Lighting are on January 11 through the meeting, March 3 to get the approval, the time required for 51 days.
The examination and approval board of Opie Home Furnishings will review the following:
1. Please ask the issuer's representative to further explain the progress of disputes and lawsuits over the company's relevant trademarks and font sizes, the types of products whose trademarks are involved in the lawsuits by the issuer, the proportion of the relevant products' revenues to the company's sales revenues and net profits, the impact of the relevant trademark lawsuits on the issuer's continuous legal operation, and whether the relevant risks are adequately disclosed. Please ask the sponsor's representative to give a verification opinion.
2. Please ask the representative of the Issuer to further explain:
(1) Whether the staff dormitory and cafeteria constructed on the land lease agreement signed by the Issuer on behalf of the actual controller Yao Liangsong are in possession of and utilized by the Issuer and its subsidiaries, and the basis for determining that the aforesaid leasing party is the actual controller Yao Liangsong as well as the reasons and reasonableness of the same, and whether there is any other land or housing lease agreement signed by the Issuer and utilized by the actual controller. The process of acquiring the land and properties involved in the factory buildings and warehouses with ownership defects used by the Issuer and all the statutory approvals or filing procedures performed by the Issuer, and whether there are any disputes and potential legal risks; whether the aforesaid situation has any impact on the sustained and lawful production and operation of the Issuer, and whether it has any material adverse impact on the production, operation and profitability of the Issuer;
(4) Whether there is any significant violation of laws and regulations on the part of the Issuer or risks, whether the administrative penalties imposed are of a serious nature, and whether there are circumstances that circumvent the provisions of relevant laws and regulations. Whether the relevant risks are fully disclosed. Please ask the sponsor's representative to give a verification opinion.
3. Would the representative of the issuer please further explain:
(1) whether the issuer will be penalized by the relevant authorities for non-compliance with the Interim Provisions on Labor Dispatch during the reporting period;
(2) the impact of the adjustment of the ratio of labor dispatch on the issuer's operating results in accordance with the principle of equal pay for equal work;
(3) whether Guangdong Fangsheng Human Resources Service Co. Ltd. and Guangzhou Shibang Human Resources Co., Ltd. provide housing subsidies for the labor dispatchers of the Issuer and its subsidiaries at a rate of not less than RMB50 per month per person whether it is in compliance with the relevant regulations and the impact on the Issuer;
(4) Whether the payment of housing provident fund of the Issuer and its subsidiaries for each period of the Reporting Period is legally compliant and whether there is any dispute. Please ask the sponsor's representative to give a verification opinion.
4. Please ask the representative of the Issuer to further explain the adjustment of the sales policy related to the sales settlement price discount factor for dealers at all levels during the reporting period and the reasons for such adjustment, the impact of the change in the sales settlement price discount factor on the operating results for the reporting period, and whether the relevant information has been fully disclosed. Please ask the Sponsor's Representative to give its verification opinion.
During the reporting period, the financial situation of Oprah Home Furnishings is shown in the following chart:
The audit opinion of the Board of Auditors on Deppon Lighting is as follows:
1. The representative of the issuer is requested to further explain the reasons for recognizing Hengdian Association Economic Enterprises Federation as the de facto controllers, whether it is in compliance with the relevant regulations, and whether it is in line with the actual operation situation. Please ask the sponsor's representative to give a verification opinion.
2. The representative of the issuer is requested to further explain the specific reasons for the issuer's failure to pay social insurance and housing fund for its employees in accordance with the relevant provisions, whether it is detrimental to the interests of the employees, and whether it is in compliance with the relevant provisions. Whether there is a risk of potential disputes and penalties. What corrective measures will be taken by the issuer. Please ask the sponsor's representative to give a verification opinion.
3. The representative of the issuer is requested to further explain the issuer's future energy-saving lamp production capacity layout considerations in relation to the development of the energy-saving lamp products industry, the relevant national and regional industry policies, whether there is any risk of impairment of the relevant fixed assets, and whether the relevant risks have been adequately disclosed. Please ask the sponsor's representative to give a verification opinion.
4. The representative of the issuer is requested to further explain the development method and transaction background of the overseas customers, the basis for signing the relevant large-value contracts and orders, and the execution process. The sponsor's representative is requested to further explain the verification methods, procedures and conclusions regarding the issuer's overseas customers and sales.
Debang Lighting financial situation is shown in the following chart:
It can be seen, Minowa and Longbang Technology are not part of the poverty-stricken areas, in the comparison of the financial situation is also not more than the OuPai Home and Debang Lighting more bright, which Longbang Technology in the reporting period, the performance of the decline of up to 30% or so of the situation, but take the approval of the speed of the approval is still very fast, the reason may be due to the SEC to approve the issuance of the documents The speed is getting faster and faster, the average value of the time taken by the SEC to issue approvals from January to March is shown in the chart below:
Two, the intermediaries behind the passing of the company rankings
The number of brokerage firms to undertake the project is shown in the chart below in the 80 companies that have passed in 2017 so far:
The number of law firms to undertake the project in the 80 companies that have passed in 2017 so far is shown in the chart below:
The number of law firms to undertake the project is shown in the chart below As shown in the following chart:
The number of projects undertaken by accounting firms in the 80 companies that have passed the meeting so far in 2017 is shown in the following chart:
In the IPO issuance costs, underwriting and sponsorship costs are among the most numerous piece of the Niu Niu Financial Research Center on the current known fund-raising costs and the total amount of fund-raising companies to conduct statistical analysis of the brokerage firms in accordance with the rate of fund-raising high and low arrangement of results As follows:
Kaili Medical's IPO was jointly sponsored and underwritten by Great Wall Securities and CICC, and was issued and listed on the GEM board. Excluding this company, the top-ranking brokerage firms in terms of issuance fee rates are Hangtai Changcai Securities, Zhongtai Securities, Guotai Securities, Guotai Securities, Dongxing Securities, and Guohai Securities, all of which are small- and medium-sized brokerage firms.
Third, the passing of the company belongs to the geographical situation
The passing of the 80 companies statistics found that the passing of the company's top three provinces, in order of the most companies in Guangdong, Zhejiang, Jiangsu, the specific ranking information is shown in the following chart:
The ranking of the GDP of each province in 2016 is shown in the following chart:
You can see that GDP rankings of the former provinces, the passing of the company The number is higher, which shows that the Securities and Futures Commission is not unprincipled poverty alleviation, the quality of listed companies is also an important condition to pass the audit.80 passed the meeting of the company, the ranking of the city to which it belongs to is shown below: