C.G.D Comments:
 
        Regarding the impact of the "new war board", an online comment is in place: the shell company in the circle of friends has been sealed in the daily limit. The friends who made the investment were full of joy. The friend who made the investment bank expressed frustration. The friends who planned to go public with the loss-making assets began to worry about the profits. The friends of the shell company made a fortune, and the friends of the Shenzhen Stock Exchange thought that they were not expected. The friends of the Shanghai Stock Exchange did not say a word..
 
According to media reports, the words “Establishing a strategic emerging industry board” in the revised contents of the “13th Five-Year Plan Outline” were deleted. The most direct impact of this policy is that it has planned to land in the domestic market and is ready to fight. Many companies in the "new board" had to choose to go public by means of a backdoor. This also makes the shell company, which was hard to find before, even more tight.
 
The typical A-shell company standards are as follows:
 
1. The total market value is suitable
 
        The market value directly determines the cost of backdoors, but it is not as small as possible. Too cheap to coordinate with major shareholders is not easy to reach an agreement, unless the major shareholder has a stronger voice, can get the price. About 4 billion is a higher turnover rate.
 
2, less equity
 
         The number of shares affects earnings per share. Generally speaking, the less the better. It is also convenient to achieve the performance promise after the backdoor.
 
3. The asset-liability ratio is not high
 
         The asset-liability ratio affects the asset value of the shell. As long as the debt ratio is not too high, the impact will not be great, and the creditor will be easy to communicate. However, the divestiture of claims will increase the cost of communication for backdoors due to different loan terms.
 
         In addition, the major shareholders' own asset-liability ratio should not be too high, because in this case, the major shareholders may have to rely on the listed company to obtain more resources, and the asking price is naturally higher.
 
4. Low net assets
 
        It is best to have a net worth of zero.
 
5, the main business is weak
 
        The main business is in the traditional sunset industry such as steel, coal, heavy chemical industry, agriculture, etc., and the company's operating capacity is poor.
 
6. Major shareholders hold more than 50% of shares
 
        If an individual shareholder holds more than 50%, of course, the best case, all communication only needs to face an entity (legal or natural person). Or couples/relatives and friends holding more than 50% together can save time and reduce the risk of uncertainty. However, there will not be much advantage in the single shareholder consideration.
 
7. The major shareholder is an investment company.
 
        Easy to communicate, because it is the same set of industry language systems, mutual understanding is more precise. Especially for investment companies registered in Tibet, the major shareholders are obviously ready to realize tax avoidance.
 
8. Personal status of natural person shareholders
 
        For example, if there is a problem with the inheritance of the major shareholder family, or if the age is too large, the business motivation will be lost, and it is easier to reach an agreement on more plans for money. Correspondingly, the possibility of a small, younger, more ambitious or self-starting success is much less likely.
 
9, the company's registered place in developed regions
 
        In particular, listed companies in remote areas are relatively more involved in the accumulation of government relations due to local tax revenues. Although there will be a corresponding solution, the cost will increase, so although it is not a big problem, it is probably a bayonet problem.
 
10. Try to avoid state-owned enterprises
 
        Although state-owned PE believes that state-owned enterprises are better able to communicate, considering the current reform environment and the difficulty of multi-layer approval, coupled with the sword of Damocles, the loss of state-owned assets, the difficulty of selling shells by state-owned enterprises is exponential. increase.