If it is said that since February 2019, holographic devices are sweeping the world.

Then February 2019 is also the beginning of the delisting of Dongtang enterprises from the Milijia stock market.

A large number of domestic Internet companies have taken the initiative to apply for delisting from the three major stock markets.

At present, there are 223 companies listed in Dongtang (excluding those that have been delisted), and a total of 227 shares have been issued. There are about 7,000 publicly traded companies in the United States.

So how many listed companies are there in Mi Lijia?

There are nearly 3,000 listed companies on the New York Stock Exchange, and companies listed on the New York Stock Exchange can generally be considered as relatively good listed companies.

The NASDAQ, which we often hear about, is equivalent to the domestic SME board and GEM, with nearly 4,000 companies on it.

However, there are new companies listed every day, and there are delistings every day, so the number is not very exact.

Therefore, there are about 7,000 listed companies in Mi Lijia.

Among the domestic listed companies in Mi Lijia, Internet companies occupy the most.

Like Alibaba, Qiandu, Sina, 360, NetEase, Sogou, Shanda, and Jingdong, these are all listed on Milijia.

So why are domestic companies keen to list on the Mi Lijia stock market?

The company is listed in China, and the valuation is several times that of the Mi Lijia listing, and the funds that can be raised are of course several times that of foreign countries.

Why are there no foreign companies listed in China, but there are still many domestic companies that go to Mi Lijia to be listed?

It's really not that foreign companies don't want to come, but they can't meet the requirements, and they can't stay up for time when they do, which is a bit heart-wrenching!

The difference between listing on rice stocks and listing in China:

The first time the cost is above.

The listing of Mi Lijia is a registration system, and a set of processes can be completed in less than 10 months, and about 4 months as fast.

In China, it used to be an average of 30 months, and if you are lucky, it is possible to wait for three to five years.

You must know that a company is in a period of rapid development only a few years ago, and the financial data of the enterprise may change greatly every year.

If the listing in China is delayed for two or three years, it is likely that the listing data will have to be revised, which will take time to find an audit. Whether to slow down the pace of development to cater to the data, or to find an audit to modify the data, both are not good for the enterprise.

In addition, the rapid development period of an enterprise needs the most financial support, and it is obvious that the Mi Lijia stock market is much better than the domestic one.

The second is the listing threshold.

The focus of Mi Lijia's stock market listing is the future, while in China it is the past.

It is very important to restrict many domestic companies from going to the listing of Mi Lijia, which requires continuous profitability in the past three years, while there is no such requirement in Mi Lijia, as long as it can be profitable in the future.

This is the case like Qiandu, Jingdong, Penguin, iQiyi, etc., in the early stage, they only focus on occupying the market and don't care about profitability, which is stuck outside the door of Big A, and this period often needs the most financial support.

The third is the stock market system.

Mi Lijia allows different rights to the same shares (Ali therefore went to the United States to list, and wheat went to Xiangjiang after the change of the Hong Kong stock system), and there is no law on the lock-up period, but it is similar to the agreement, generally half a year.

Unlike domestic regulations, which are generally three years, and the proportion of outstanding shares issued in the listing is also clearly stipulated.

There are many more regulations of this kind, and the restrictions on enterprises are very large, and the rice grain family is relatively relaxed.

Fourth, there is the regulatory system.

Compared with China, the regulators of Mi Lijia only perform the responsibility of supervision, and foreign shareholders can play the role of inspection, as long as the company has problems, a small shareholder can sue the listed company.

And many lawyers like to take on this type of lawsuit for free, the more famous the company, the more the lawyer likes it, provided you have evidence.

If you win the lawsuit, you will be paid and famous, which objectively plays a role in supervision.

Fifth, the shareholder structure and trading system are different.

The Mi Lijia stock market has a history of 200 years, and the shareholder structure is more reasonable, with more than 70% of them being operated by institutions, paying more attention to fundamental research and value investment.

Even retail investors are mainly long-term investments, and there are few short-term speculative transactions.

In terms of trading system, we all know that rice stocks are a two-way mechanism for long and short, and T+0 has no limit on the rise and fall.

In this environment, the stock price can quickly find a reasonable valuation range, which is conducive to the stable development of the company.

Sixth, openness and influence.

The Mi Lijia stock market is an international market, where companies from all over the world can go public, and free funds can be invested.

After the listing of Mi Lijia, it can gain a higher reputation than in China.

Moreover, due to its large size, perfect system, stable economy, and relatively stable stock market environment, the stock market can maintain a long-term bull market pattern, which is undoubtedly a fatal benefit for the financing of listed companies.

This is also the reason why many domestic Internet companies choose to go public on Mi Lijia, not to mention the problems on the domestic A-shares.

However, this time, Dongtang Internet companies chose to delist, not for the purpose of listing on the A-share market, but for privatization.

In fact, some domestic companies listed on rice stocks have reached the point where they have to be delisted.

For example, Ali Group, the current shareholding ratio of Tianhan Group has risen to 33.7%, plus the shares held by other major shareholders, the shareholding ratio of major shareholders has almost triggered the delisting mechanism of rice stocks.

Alibaba, Sanxin, and Taiji Electric announced at the end of February that they would privatize and delist rice stocks.

Although the management of rice stocks has been retained repeatedly, the three companies are still determined to announce their delisting plans.

And this incident suddenly became a fuse, and a large number of enterprises closely related to the Galaxy Consortium chose to be privatized and delisted.

The reason why it will trigger a chain reaction is mainly that rice stocks have been red in the past two years, as a technology stock with a market value of more than 100 billion yuan, such as Amazon, Micro Hard, Gu Ge, Intel, etc., the market value has almost been cut in half.

Except for the acquired Sydney, which has come back to life, other stocks are now falling and falling, with semiconductors and the Internet being the most severe.

Now the first market capitalization of the rice stock market is Amazon, the second is Sydney, and the stocks of some other technology companies are in a half-dead state.

Considering the future situation, many domestic companies listed on the stock market have chosen to repurchase shares or privatize and delist.

It can only be said that the delisting of Alibaba, Sanxin, and Taiji Electric has strengthened the minds of many people.

……

Hangcheng West Lake, Ali headquarters.

"Jack, the management of the A-share Securities Regulatory Commission met with me yesterday to test whether we have the idea of listing on the A-share market." Zhang Xiaoyao said with a wry smile.

Ma Jack raised his eyebrows: "I will not consider listing on A-shares for the time being." ”

After all, Ali's shareholding structure is destined to be difficult to list in A-shares, after all, A-shares require the same shares and same rights, and once listed in China, Ali's management may lose control of Ali Group, which is unacceptable to them.

Although Tianhan Group controls more than one-third of Alibaba's shares, Tianhan Group does not have the ability to control Alibaba, only financial supervision and the like.

Even if it is a re-listing, Ali may choose the Xiangjiang stock market, but the recent turmoil in Xiangjiang has made Ali not consider re-listing for the time being.