GLM virtual currency
Publish: 2021-05-27 00:34:25
1. It's all made up by swindlers. It's really naive!
2. Digital currency, similar to bitcoin, but gongxinbao has an app to play as a small game. Its official website https://gxs.gxb.io/
3.
nine Chinese companies were listed on the New York Stock Exchange last year
Chris Taylor, vice president of the listing Services Department of the New York Stock Exchange, told the media that 89 companies were listed on the New York Stock Exchange last year, with a total financing of $31 billion. According to data provided by Taylor, the NYSE has more than 2300 listed companies in 45 countries, with a total market value of more than $25 trillion
4. http://blog.sina.com.cn/u/1233721385
Chinese companies have been listed in the United States for seven years. They have experienced three ups and downs on Wall Street. "In the past seven years, there have been brilliant Chinese concept stocks such as zhonghua.com, while most of the stock prices have fallen below the issue price, and some of the stocks are worth only a few cents. They can't bear to see the bitterness." An international financial and investment banking expert summed up the seven-year process of Chinese companies going public overseas. Chinese concept stocks have set off four waves on Wall Street
the first wave: Chinese stocks landed on Wall Street for the first time
at the end of 1992, China Securities Regulatory Commission was established, and then approved the first batch of companies to list overseas. Chinese companies first appeared on the US stock market in July 1993 at Tsingtao beer, followed by Shanghai Petrochemical, Ma'anshan steel and Yizheng Chemical fiber. Their main listing is in Hong Kong, but they are listed on the New York Stock Exchange through GDR and ADR. In August 1998, when Shanghai Petrochemical H shares were listed in Hong Kong, 50% of H shares were converted to ADR and GDR and listed in New York. The first China related stock listed on the New York Stock Exchange through other channels was Brilliance Jinbei Automobile, which was listed on October 9, 1992. The issue price was US $16 and rose to US $33 at the end of November that year. The second is China Zhongce tire, and the third is Shanghai motorcycle. Since it was the first time for Chinese companies to list in the United States, a boom soon formed in the New York Stock Exchange and reached its peak in July 1993. Tsingtao beer was the most popular of these stocks. At that time, 39 famous foreign investment companies were competing to be their agents, and the subscription rate was 200 times higher. The share price peaked at HK $14
the first batch of overseas listed enterprises have two significant characteristics: first, most of them are state-owned enterprises before the restructuring; second, the instry is limited to manufacturing. So why are these stocks favored by international investors? Experts believe that, first of all, from a macro perspective, the growth rate of China's economic GDP at that time was more than twice the world average. Second, international investors are optimistic about China's huge consumer market. Their idea is very simple. When they make decisions, they only care about a few simple figures, that is, the per capita consumption of a certain proct in China. Then they compare it with the international average and feel astonishing potential. In addition, China's manufacturing instry has a long history and a strong foundation. Moreover, the Chinese government has always given strong support to the manufacturing instry
the first wave lasted until 1994, and the stock price dropped to the bottom. On the one hand, it is affected by the financial crisis in Mexico, on the other hand, it is the company itself, which is also the main reason. The medium-term performance bulletin half a year after listing and the annual report one year after listing have poor performance, which is quite different from the prediction made by the company's management in the process of listing recommendation. As a result, international investors have doubts about China's manufacturing instry. Although they are joint-stock enterprises, these listed enterprises still have traditional traces in management system, system and corporate governance structure. In particular, there are a series of problems, such as the lack of incentive mechanism, the company's operating performance and stock price performance are not closely related to the interests of management and employees. So the first wave went down
the second wave: infrastructure stocks are leading the way. Soon after the first wave triggered by manufacturing stocks subsided, the second batch of Chinese stocks listed in the United States began to appear on Wall Street. However, there are few manufacturing companies this time. Instead, most of them are infrastructure and public utilities companies, which are involved in aviation, railway, highway, power and other fields. Such as Huaneng Power International, China Eastern Airlines, China Southern Airlines, Datang Power Generation and other companies
as soon as these companies go public, they will soon arouse the appetite of those who want to buy Chinese infrastructure stocks. However, investors changed. They also compare the per capita air mileage, per capita electricity consumption, per capita energy consumption and other indicators with foreign countries and find that they are far behind the major countries in the world and have great growth potential. They think that investing in such stocks is less risky, so they buy them one after another. However, the good times are not long. These stocks are mainly purchased by a class of institutional investors, who originally intended to hold them for a long time and make strategic investment, but they are not easy to sell when they have to. As a result, these institutions sold off the shares of these Chinese companies one after another, causing the share prices to plummet
the reasons for the second wave of Chinese stocks on Wall Street are similar to those for the first. From the macro point of view, e to the weak economy, many projects are forced to postpone or stop construction. In addition, vicious competition in the field of infrastructure leads to serious losses of enterprises. For example, in the civil aviation instry, there are too many imported aircraft, excess aircraft capacity and discount air tickets, resulting in a total loss of the civil aviation instry
the third wave: red chips were once popular in half the sky
the third wave of Chinese concept stocks on Wall Street was red chips, which started at the end of 1996 and ended in the financial storm in October 1997. Although its main battlefield is in Hong Kong, in fact, Wall Street has also been impacted
the so-called red chips are window companies invested in Hong Kong under the background of a certain department and a certain level of government in China. The profits of these companies tend to grow unconventionally. Although these companies are mainly listed in Hong Kong, they can also be listed on the New York Stock Exchange through ADR. These stocks include aerospace science and technology, China Merchants, China Resources, Shanghai instry, Beijing holding, Guangdong Yuehai, etc. For example, when Beijing Holdings subscribed, 60 consortia in Hong Kong took shares, freezing hundreds of billions of funds, creating a record of 1200 times the subscription rate in the Hong Kong stock market. For the first time in Hong Kong, the six richest people in Hong Kong attended the promotion conference together, which became a talk of beauty in the investment community. It was listed on May 18, 1997. The listed share price was HK $11.48. It closed at HK $44 on the same day, reaching a peak of HK $66. Last year, it closed at HK $12.25
there are several factors for red chips to attract overseas investors:
one is the most direct "China concept", which benefits from the rapid development of China's economy
Second, overseas investors believe that red chips are very different from the first two types of enterprises. They are registered in Hong Kong and operated by the local management in Hong Kong. They have considerable autonomy and flexibility, good business environment and convenient financing, avoiding the shortcomings of the first two types of enterprises. Behind the Chinese enterprises, there are either instry sector support or strong local government support
thirdly, these enterprises can obtain high-quality and unconventional asset injection, and their asset portfolio is diversified, which can bring about rapid development of enterprises
fourthly, it has a large number of strategic investors. Finally, it has something to do with the overall environment of Hong Kong's return to the motherland. However, with the sudden outbreak of the Asian financial crisis at the end of 1997, Hong Kong's stock market plummeted and its popularity was extremely low. In addition, the performance and performance of red chips were poor. As a result, the good situation was short-lived. Many stocks fell below the issue price and still hovered at this price. For example, Yuehai was on the road of liquidation, which was a pity
after the third wave subsided, foreign capital markets were closed to Chinese stocks for 15 months< On July 14, 1999, China Securities Regulatory Commission issued the notice on issues related to enterprises applying for overseas listing. On the same day, zhonghua.com was listed on NASDAQ. On the day of listing, its share price soared from US $20 to US $67.2, up 235%. On that day, its market value exceeded 11 billion yuan, raising US $100 million. On the 16th, the stock price soared from $58 to $101.3, up 75%; On the 17th, it soared again to $137. On January 11, 2000, the closing price was as high as $82 (after one split and two split)
the closing price of China Telecom was US $128 on the last day of the year, approaching the highest price in history. The share price of China Rongchang international holding company was only US $1 before the agreement on China's and US accession to the WTO was reached. On the 16th, its closing price rose 11 times to US $11.06. On the 17th, it rose to US $32.06. A few days later, its share price once rose to US $80. Shares of China Resources Development Co. also performed well, rising $19 on the 17th. China Tire Co. rose 77% in two days to $10. 06 a share. Other stocks also performed well
on February 17, 1999, Qiaoxing global, a Guangdong enterprise that dominates the market by procing digital wireless phones, was listed on the Nasdaq market in the United States, thus becoming the first private enterprise listed overseas in China. Stimulated by the favorable factors of China and the United States signing the WTO agreement, Qiaoxing Global's shares rose 268% on the 17th, up $8.375 to close at $11.50, with a record volume of transactions. On December 31, 1999, the share price soared to $28. Within a few days, the price rose sharply, ranking sixth among the top ten stocks in the Nasdaq market, and the market value increased by US $150 million in a week. The foreign reporter described: these days, the stock of China's private enterprises is like sitting on a rocket to rise.
Chinese companies have been listed in the United States for seven years. They have experienced three ups and downs on Wall Street. "In the past seven years, there have been brilliant Chinese concept stocks such as zhonghua.com, while most of the stock prices have fallen below the issue price, and some of the stocks are worth only a few cents. They can't bear to see the bitterness." An international financial and investment banking expert summed up the seven-year process of Chinese companies going public overseas. Chinese concept stocks have set off four waves on Wall Street
the first wave: Chinese stocks landed on Wall Street for the first time
at the end of 1992, China Securities Regulatory Commission was established, and then approved the first batch of companies to list overseas. Chinese companies first appeared on the US stock market in July 1993 at Tsingtao beer, followed by Shanghai Petrochemical, Ma'anshan steel and Yizheng Chemical fiber. Their main listing is in Hong Kong, but they are listed on the New York Stock Exchange through GDR and ADR. In August 1998, when Shanghai Petrochemical H shares were listed in Hong Kong, 50% of H shares were converted to ADR and GDR and listed in New York. The first China related stock listed on the New York Stock Exchange through other channels was Brilliance Jinbei Automobile, which was listed on October 9, 1992. The issue price was US $16 and rose to US $33 at the end of November that year. The second is China Zhongce tire, and the third is Shanghai motorcycle. Since it was the first time for Chinese companies to list in the United States, a boom soon formed in the New York Stock Exchange and reached its peak in July 1993. Tsingtao beer was the most popular of these stocks. At that time, 39 famous foreign investment companies were competing to be their agents, and the subscription rate was 200 times higher. The share price peaked at HK $14
the first batch of overseas listed enterprises have two significant characteristics: first, most of them are state-owned enterprises before the restructuring; second, the instry is limited to manufacturing. So why are these stocks favored by international investors? Experts believe that, first of all, from a macro perspective, the growth rate of China's economic GDP at that time was more than twice the world average. Second, international investors are optimistic about China's huge consumer market. Their idea is very simple. When they make decisions, they only care about a few simple figures, that is, the per capita consumption of a certain proct in China. Then they compare it with the international average and feel astonishing potential. In addition, China's manufacturing instry has a long history and a strong foundation. Moreover, the Chinese government has always given strong support to the manufacturing instry
the first wave lasted until 1994, and the stock price dropped to the bottom. On the one hand, it is affected by the financial crisis in Mexico, on the other hand, it is the company itself, which is also the main reason. The medium-term performance bulletin half a year after listing and the annual report one year after listing have poor performance, which is quite different from the prediction made by the company's management in the process of listing recommendation. As a result, international investors have doubts about China's manufacturing instry. Although they are joint-stock enterprises, these listed enterprises still have traditional traces in management system, system and corporate governance structure. In particular, there are a series of problems, such as the lack of incentive mechanism, the company's operating performance and stock price performance are not closely related to the interests of management and employees. So the first wave went down
the second wave: infrastructure stocks are leading the way. Soon after the first wave triggered by manufacturing stocks subsided, the second batch of Chinese stocks listed in the United States began to appear on Wall Street. However, there are few manufacturing companies this time. Instead, most of them are infrastructure and public utilities companies, which are involved in aviation, railway, highway, power and other fields. Such as Huaneng Power International, China Eastern Airlines, China Southern Airlines, Datang Power Generation and other companies
as soon as these companies go public, they will soon arouse the appetite of those who want to buy Chinese infrastructure stocks. However, investors changed. They also compare the per capita air mileage, per capita electricity consumption, per capita energy consumption and other indicators with foreign countries and find that they are far behind the major countries in the world and have great growth potential. They think that investing in such stocks is less risky, so they buy them one after another. However, the good times are not long. These stocks are mainly purchased by a class of institutional investors, who originally intended to hold them for a long time and make strategic investment, but they are not easy to sell when they have to. As a result, these institutions sold off the shares of these Chinese companies one after another, causing the share prices to plummet
the reasons for the second wave of Chinese stocks on Wall Street are similar to those for the first. From the macro point of view, e to the weak economy, many projects are forced to postpone or stop construction. In addition, vicious competition in the field of infrastructure leads to serious losses of enterprises. For example, in the civil aviation instry, there are too many imported aircraft, excess aircraft capacity and discount air tickets, resulting in a total loss of the civil aviation instry
the third wave: red chips were once popular in half the sky
the third wave of Chinese concept stocks on Wall Street was red chips, which started at the end of 1996 and ended in the financial storm in October 1997. Although its main battlefield is in Hong Kong, in fact, Wall Street has also been impacted
the so-called red chips are window companies invested in Hong Kong under the background of a certain department and a certain level of government in China. The profits of these companies tend to grow unconventionally. Although these companies are mainly listed in Hong Kong, they can also be listed on the New York Stock Exchange through ADR. These stocks include aerospace science and technology, China Merchants, China Resources, Shanghai instry, Beijing holding, Guangdong Yuehai, etc. For example, when Beijing Holdings subscribed, 60 consortia in Hong Kong took shares, freezing hundreds of billions of funds, creating a record of 1200 times the subscription rate in the Hong Kong stock market. For the first time in Hong Kong, the six richest people in Hong Kong attended the promotion conference together, which became a talk of beauty in the investment community. It was listed on May 18, 1997. The listed share price was HK $11.48. It closed at HK $44 on the same day, reaching a peak of HK $66. Last year, it closed at HK $12.25
there are several factors for red chips to attract overseas investors:
one is the most direct "China concept", which benefits from the rapid development of China's economy
Second, overseas investors believe that red chips are very different from the first two types of enterprises. They are registered in Hong Kong and operated by the local management in Hong Kong. They have considerable autonomy and flexibility, good business environment and convenient financing, avoiding the shortcomings of the first two types of enterprises. Behind the Chinese enterprises, there are either instry sector support or strong local government support
thirdly, these enterprises can obtain high-quality and unconventional asset injection, and their asset portfolio is diversified, which can bring about rapid development of enterprises
fourthly, it has a large number of strategic investors. Finally, it has something to do with the overall environment of Hong Kong's return to the motherland. However, with the sudden outbreak of the Asian financial crisis at the end of 1997, Hong Kong's stock market plummeted and its popularity was extremely low. In addition, the performance and performance of red chips were poor. As a result, the good situation was short-lived. Many stocks fell below the issue price and still hovered at this price. For example, Yuehai was on the road of liquidation, which was a pity
after the third wave subsided, foreign capital markets were closed to Chinese stocks for 15 months< On July 14, 1999, China Securities Regulatory Commission issued the notice on issues related to enterprises applying for overseas listing. On the same day, zhonghua.com was listed on NASDAQ. On the day of listing, its share price soared from US $20 to US $67.2, up 235%. On that day, its market value exceeded 11 billion yuan, raising US $100 million. On the 16th, the stock price soared from $58 to $101.3, up 75%; On the 17th, it soared again to $137. On January 11, 2000, the closing price was as high as $82 (after one split and two split)
the closing price of China Telecom was US $128 on the last day of the year, approaching the highest price in history. The share price of China Rongchang international holding company was only US $1 before the agreement on China's and US accession to the WTO was reached. On the 16th, its closing price rose 11 times to US $11.06. On the 17th, it rose to US $32.06. A few days later, its share price once rose to US $80. Shares of China Resources Development Co. also performed well, rising $19 on the 17th. China Tire Co. rose 77% in two days to $10. 06 a share. Other stocks also performed well
on February 17, 1999, Qiaoxing global, a Guangdong enterprise that dominates the market by procing digital wireless phones, was listed on the Nasdaq market in the United States, thus becoming the first private enterprise listed overseas in China. Stimulated by the favorable factors of China and the United States signing the WTO agreement, Qiaoxing Global's shares rose 268% on the 17th, up $8.375 to close at $11.50, with a record volume of transactions. On December 31, 1999, the share price soared to $28. Within a few days, the price rose sharply, ranking sixth among the top ten stocks in the Nasdaq market, and the market value increased by US $150 million in a week. The foreign reporter described: these days, the stock of China's private enterprises is like sitting on a rocket to rise.
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