Izinkampani Zokugeza Ezisohlwini Olusheshisiwe, Yiziphi Izinguquko Ezizolethwa Ngemva Kokwenza Osonhlamvukazi?

U-Lin wangempela we-Xiaoxiong Kitchen kanye nolwazi lweBathroom

Ngokusho kwedatha egunyaziwe, imakethe ye-A-share yayinesamba se 248 ama-IPO aphumelele engxenyeni yokuqala ye 2021, ukwanda kwe 110% unyaka nonyaka. Ikhuphule isamba se-RMB 212.7 ibhiliyoni, phezulu 53% unyaka nonyaka. Ngokulandela umkhondo, Izinhlelo zokusebenza zokufakwa kuhlu kwe-A zihlale zisebenza, mayelana 690 izinkampani ezifaka isicelo sokufakwa ohlwini.

Esigabeni sokuqala sohlu lwe-A-share luqhubeka ngokugcwele, imboni yokugezela ethule isikhathi eside ibuye yabuyekeza njalo ukuqhubeka kwezinkampani ze-IPO. U-Hilk uthole ukwelulekwa ngokohlu, Panasia yokugezela, Ilensi ekhaya, Umcibisholo wasekhaya udalule i-prospectus ngokulandelana.

 

01

Izinkampani zenhlanzeko’ ishadi lohlu

Kusukela ezingeni le-macro, inani lamabhizinisi asekhaya wempahla yenhlanzeko likhulu. Iphethini yokuncintisana ihlakazekile, ikakhulukazi amabhizinisi amancane naphakathi nendawo. Inguqulo yochwepheshe ye-Sky Eye ikhombisa lokho embonini yezakhiwo nekhaya, I-China ingaphezu kwalokho 500,000 ibhizinisi scope eliqukethe “ware wokuhlanzeka” kanye nesimo sebhizinisi, ukusinda, ngena, phuma emabhizinisini ahlobene negumbi lokugezela, imali ebhalisiwe engaphansi kwe 1 izigidi zibalwe ngaphezu kwamaphesenti angamashumi amahlanu.

Isimo se-quo yemboni enkulu kanye namabhizinisi amancane emakethe yokugezela, azikho izinkampani eziningi ezibaliwe endlini yokugezela. Kusukela ngoJulayi 2021, amabhizinisi ahlobene nemboni yokugezela yasekhaya yi-Huida Sanitary Ware, Izindleko zamasheya Dongpeng Holdings, R&T, Ikhaya le-Open, UNkulunkulu Ikhaya, I-Seagull Sumitomo, Ikhaya le-Jianlin, I-Solux Technology, Amasheya eSitong nezinye izinkampani ezisohlwini.

Nokho, njengoba isimo semakethe sishintsha, ulwazi lwemboni yokugezela kanye nokuqonda kosonhlamvukazi kuyaqhubeka nokujula. Ngenqwaba yangaphambili yabadla izinkalankala, kuvele uhlangothi oluhle lokufakwa ohlwini, futhi amabhizinisi amaningi aqala ukucabanga ngomgwaqo wokufakwa ohlwini.

Okwamanje, ngaphezu kohlu lwekhaya lomcibisholo, Ilensi ekhaya, Panasia yokugezela kanye namanye amabhizinisi kulayini, ukwamukela ukufakwa ohlwini lokwelulekwa u-Hilk, Ihhashi laseNtshonalanga, Tangshan He Xiang, Jieer ekhethekile, Jinshali namanye amabhizinisi, Igumbi lokugezela le-Huayi liphinde ladalula esidlangalaleni ukuthi lizoqala inqubo ye-IPO.

Okwemboni, amabhizinisi andayo esohlwini, izonaka kakhulu ukwenza umsebenzi ufane, gxila ekukhiqizeni umphumela wesikali futhi usheshise inqubo ye-digital synergy. Bazoqeda amandla okukhiqiza asemuva, izophinde ikhuthaze ukuhlanganiswa kwezimboni, thuthukisa ukugxilwa kwemboni, futhi kuzoba nomthelela omuhle ekuguquleni isimo semboni yezokuhlanzeka kwemboni enkulu, amabhizinisi amancane.

Futhi ngemva kokuphothulwa of capitalisation of amabhizinisi, imali eqoqwe ingasetshenziselwa ukwakha umkhiqizo, ukwakhiwa kwesiteshi nokwandiswa kwamandla, ukusiza ukusetshenziswa kwezinzuzo zezindleko ukuhlanganisa abangaba izimbangi kanye nokwenza kahle kwebhizinisi. Komzuzwana, ukufakwa kuhlu kwamabhizinisi kulungele ukuthuthukisa ukuqwashisa ngomkhiqizo kanye nokuncintisana kwezimakethe zamazwe ngamazwe, okuzosiza kakhulu ukungena emakethe yamazwe ngamazwe kanye nemakethe yemali esikhathini esizayo.

 

02

Indawo yemakethe kanye nesiqondiso senqubomgomo kazwelonke

Amabhizinisi wezimpahla zenhlanzeko angena emakethe yemali, Ngakolunye uhlangothi, kanye nokwakhiwa kabusha kwendawo yonke yemboni yezindawo zokuhlala kuhlobene eduze, Ngokolunye uhlangothi, sibonga ukuxegiswa kohlelo lokucwaningwa kwamabhuku.

Ngokusho kwedatha yenethiwekhi yamafu ye-Aowei ikhombisa ukuthi ku 2020 isikali semakethe yokuqeda sifinyelelwe 3.25 amasethi ayizigidi, futhi imikhiqizo yenhlanzeko yimikhiqizo ejwayelekile. Isibikezelo sokuthi 2022, isikali semakethe yokuqeda sizofinyelela 5.05 amasethi ayizigidi. Usayizi wemakethe yezokuhlanzeka kulindeleke ukuthi udlule 5 amasethi ayizigidi, futhi ukuthuthukiswa kwemakethe kuhle ngayo yonke indlela.

Ekuhlukaniseni isiteshi, izidingo ezintsha zesixuku esisha sabathengi kanye nokuthambekela kwezindlu ezicolisisiwe, ukusebenzisana nokuphela kwezindlu ezithengiswayo sekube yisiteshi esibalulekile sezinkampani zezimpahla zenhlanzeko. Nokho, lesi yisiteshi esibalulekile sengxenye enkulu yebhizinisi, okudinga ukuhamba kwemali okwengeziwe.

Ikakhulukazi ngemva kokuqiniswa kwenqubomgomo yezimali zezindlu, amabhizinisi endawo ethengisa izindlu azodlulisela ingcindezi yokuhamba kwemali ochungechungeni lokuhlinzeka, futhi amabhizinisi amakhulu kuphela anekhono lokuthuthukisa imali ezokwazi ukuthola ingxenye yekhekhe. Ukungena emakethe yezindlu ecolisisiwe, amabhizinisi adingeka ukuthi abe namandla anamandla okuthwala ukugeleza kwemali. Ngaphansi kwesisekelo sokungafaki engozini ukusebenza okuvamile kwebhizinisi elikhona, uhlu lokukhulisa imali sekuyisinqumo esivamile.

Komzuzwana, ukuguqulwa kwesistimu yokufakwa kuhlu kunikeze umfutho omkhulu kumkhuba we-IPO. Umthetho Wezokuphepha we-People's Republic of China uzosebenzisa le “uhlelo lokubhalisa” phakathi 2020, ukuchibiyela leli gama “inzuzo esimeme” ku “ukuqhubeka kokukhathazeka”. Izinkampani ezisohlwini zizonaka kakhulu amandla okuqhubeka nokusebenza, okuyinto ehambisana nentuthuko yesikhathi eside.

Isikhathi sangemuva kobhubhane sizothonywa ngokuhle ukusimama komnotho wakuleli kanye nokuthuthuka kohlelo lokubhalisa.. Ngesikhathi esifanayo, 2021 unyaka wokuvula ngokusemthethweni Wohlelo Lweminyaka Eyi-14 lwase-China, futhi kukhona uchungechunge lwezinqubomgomo ezintsha zosekelo mayelana nesakhiwo esisha sezimboni ukusekela ukukhula okusheshayo kwamabhizinisi avelele. Muva nje, I-Dongpeng Holdings yaklonyeliswa 10 izigidi zama-RMB nguHulumeni kaMasipala waseQingyuan ukuze kufakwe uhlu lwenkampani.

Ngokomhlahlandlela wenqubomgomo kazwelonke, uhlelo lokukhishwa kanye nokucwaningwa kwamabhuku luzothuthukiswa ngokuqhubekayo esikhathini esizayo, futhi imakethe yemali izoba umkhuba ojwayelekile wokusebenzela umnotho wangempela. Ukwenziwa ngcono okuqhubekayo kwezinguquko zesistimu yokufakwa kuhlu kanye nenqubomgomo yokweseka amabhizinisi amahle kakhulu ukuba aye esidlangalaleni emhlabeni wonke kuzovula iminyango emisha yamabhizinisi andayo., futhi ngokuqinisekile izoletha izinguquko ezintsha ekuhlanganisweni kwezimboni kanye nokuthuthukiswa kwezimboni.

 

03

I-Intelligent iba igama elingukhiye

Capital for the imboni yokugezela kanye nezinkampani yokugezela for isifiso capital umphelelisi nomunye. Esigabeni sokugezela singene embonweni omkhulu, uma kuqhathaniswa nokuqukethwe kobuchwepheshe obuphansi futhi hhayi ukukhula kwesikali semali engenayo eqinile yesigaba sokugezela, ukunakwa okuphezulu kanye nokulindelwe okunikezwa yimakethe yemali endlini yokugezela ehlakaniphile.

I-Arrow Home yasho ku-prospectus ukuthi izotshala izimali eziphakanyiswe odabeni kuphrojekthi yokuguqulwa kobuchwepheshe bomthamo womkhiqizo wasekhaya ohlakaniphile., ikhaya elihlakaniphile R&D kanye nephrojekthi yoguquko lobuchwepheshe yesikhungo sokuhlola, ukuthuthukiswa kobuhlakani bedijithali iphrojekthi yenguquko yezobuchwepheshe, njll.

Futhi ikhaya le-Lens lizokhipha izimali eziqoqiwe zephrojekthi yokuguqulwa kobuchwepheshe besisekelo sokukhiqiza i-Zhongshan Lens ehlakaniphile, I-Jiangsu Lens Pizhou R & Iphrojekthi yokwakhiwa kwesikhungo sika-D kanye nephrojekthi yemali yokusebenza eyengeziwe.

Igumbi lokugezela lasePanasia lizokhipha imali eqoqwe ukutshalwa kwezimali kumaphrojekthi amabili amakhulu, na- “Ikhishi nemikhiqizo yokugezela yokukhiqiza ehlakaniphile isisekelo sokukhiqiza kanye nekhishi negumbi lokugezela R & D isikhungo kanye nephrojekthi yokwakhiwa kobuchwepheshe bolwazi” futhi “imikhiqizo yokugezela ehlakaniphile yokukhiqiza iphrojekthi yokwandisa”.

Eminyakeni yakamuva, isabelo semakethe semikhiqizo ehlakaniphile yenhlanzeko efana nezindlu zangasese ezihlakaniphile, izibuko zezempilo ezihlakaniphile, ompompi bokuhlonza abahlakaniphile, ohlakaniphile kwemizwa odongeni tile abelokhu anda. Imboni ehlakaniphile ye-5G ohlangothini lwebhizinisi nayo ivela njengentwasahlobo. Konke lokhu kubonisa ukuthambekela kobuhlakani, idijithali, ukukhiqiza okusezingeni eliphezulu sekuphenduke ukuthuthukiswa kwemboni yezokuhlanzeka.

Lapho sibhekene nentuthuko yezobuchwepheshe eshintsha ngokushesha emhlabeni, ukuze uhlangane nemikhiqizo yamazwe ngamazwe, amabhizinisi wezimpahla zasekhaya zokukhulisa amandla e-R & D ukusungula nokuqinisa ukuqeqeshwa okusekelwe olwazini, abasebenzi abanekhono, kubaluleke ngokukhethekile. Uhlu lokuqoqwa kwezimali, imali eyengeziwe izotshalwa ku-R & D ibhodi lokusungula, okungasiza amabhizinisi ukuthi aphule ibhodlela lobuchwepheshe bemboni. Ngesikhathi esifanayo, ngemuva kokufakwa ohlwini kwamabhizinisi, ungasebenzisa izitoko noma izinketho ukuze uhehe futhi ugcine ithalente ukuze uqhubeke uzuze ukuthuthukiswa kwekhwalithi ephezulu.

Nakuba imboni yokugezela yalo nyaka isifikile ezinkampanini eziningi ezizofakwa ohlwini, ukuhlushwa kwemakethe yamanje embonini yokugezela nakho kusesezingeni eliphansi kakhulu. Ukufakwa kuhlu kwebhizinisi okungewona umdlalo wokugcina kuyisiqalo kuphela. Ushintsho lwemboni yezokuhlanzeka, ikusasa linendlela ende okufanele liyihambe.