another slowdown in the development of electricity providers to deny backdoor listing in Hong Kong
(reporter Xue Song) during the Spring Festival, Jingdong formally submitted to the U.S. Securities and Exchange Commission IPO prospectus, plans to go to the United States market, the maximum financing of $1 billion 500 million. If successful, will hit more than 10 years of Chinese enterprises in the United States IPO financing scale of another record.
this year is the perfect time to market electricity supplier
financial pressure and the rapid growth of the electricity supplier market environment is the main reason for Jingdong to start IPO this year. Public data shows that since 2007, Jingdong financing of about $2 billion 200 million, equivalent to about RMB 14 billion 500 million yuan, but has spent more than half.
on the other hand, Internet experts Ge Jia said: this time the electricity supplier market is quite good, if missed this year’s high growth, the future valuation will certainly be greatly reduced, Alibaba is also the case. From the electricity supplier market development point of view, from 2003 to 2011, China’s online retail industry average annual increase rate of 120%. 2015 will reach $395 billion, equivalent to more than 3 times in 2011.
more important point is that Jingdong has begun to profit. Prospectus data show that Jingdong mall in 2011 and 2012 net loss of 1 billion 284 million yuan, respectively, $1 billion 729 million. The first three quarters of 2013, Jingdong mall net revenues of $49 billion 216 million, an increase of 70%, and has achieved a profit of $63 million, while the same period last year was a loss of 1 billion 424 million yuan.
or face U.S. SEC ruling risk
Jingdong to accelerate the launch of IPO is also intended to avoid the adverse effects of U.S. regulatory policy. Not long ago, the U.S. Securities and Exchange Commission announced that the four major accounting firms in China should be suspended for the United States listed companies audit business, the length of time for 6 months. The Jingdong mall audit is headquartered in Shanghai PWC transit accounting firm, the firm is likely to be suspended audit of u.s.. Since the United States SEC the policy has not yet formally entered into force, therefore, including Jingdong, including Chinese companies are speeding up the IPO, and look forward to the successful implementation of the SEC ban before the listing, can cause a lot of complaints.
Ali denied backdoor listing
in addition to Jingdong, another major electricity supplier giant Alibaba in Hong Kong IPO is inconclusive, but the growth rate has begun to slow down. The major shareholder of YAHOO recently said in the earnings report, the third quarter of last year, Alibaba’s revenue was $1 billion 780 million, an increase of 51%, but the growth in the second quarter of last year and the first quarter of the year but were 61% and 71%, showing a declining trend. Alibaba’s profits also showed the same trend, the three quarter of last year, gross profit growth of up to 58% (>