since September last year, the first landing of the U.S. capital market, vip.com 23, the first day of investors’ voting with their feet, fell by 15%. Some analysts believe that many large electricity supplier website burn, serious losses. Plus the threshold is relatively increased, overseas financing Chinese Xixi misappropriating company is still cold.
since 2011 since second in the United States IPO Chinese companies, vip.com, the first day of listing on the first day of the market was abandoned, the opening price of $6, compared with the issue price of $6.5 fell 7.7% to $23. At the close, vip.com shares at $5.5, down by 15.38%. Closing price, the company’s market capitalization of about $268 million.
it is worth noting that vip.com announced at the roadshow release range of $8.5~10.5, but after the roadshow will issue price to $6.5 to the price compared with the March 10th IPO application submitted by the $8.5 to $10.5 price limit by 23.5%, the scale of financing from the planned $120 million has shrunk to 71 million 500 thousand dollars.
In the face of vip.com
on the first day of break, said China international economic exchange center expert Huang Zhilong interview, vip.com first day appeared below the issue price, but also because of the capital market in the United States appear high callback or a lot of investors profit taking the normal market behavior, so vip.com below the issue price, no surprise.
as many domestic companies especially electronic website enterprises just listen to the sound of burn, no profit to the performance, as well as overseas market threshold is relatively increased, the Chinese enterprises overseas financing still cold xixi. Now is the freezing point, it is estimated that there will not be much improvement in the short term, foreign investors are wary of Chinese enterprises." A A share website official told reporters.
vip.com nearly two years
rate of over 30%
vip.com prospectus shows that vip.com invested a lot of money, but did not make money. In 2011, vip.com’s net revenue of $227 million; but a net loss of $107 million over the same period of the corresponding. In addition, the data show, vip.com’s gross margin growth is as high as 19% in 2011, but in recent years the cost rate of more than 30%.
on the contrary, vip.com’s cost of investment has doubled. Prospectus disclosure, 2009-2011 vip.com’s procurement costs accounted for 91.8% of the proportion of revenue of $90.2%, respectively, and 80.9%, the largest expenditure, while operating expenses accounted for the proportion of revenues are more than 30%. This also means that vip.com is still doing a loss trading.