One article touches the bottom of the LED market for the third board market.

What is the financing status of new three board enterprises? According to the introduction, the new three boards, which experienced rapid expansion, grew steadily in 2015. One of the notable signs is that the new three board financing capability has been significantly enhanced: the data released by the stock transfer system show that in 2015, the total number of new stock issuance was 2565 times, and the total amount of financing reached 121 billion 617 million yuan, not only far beyond 2014. The total financing of new three boards (only 13 billion 209 million yuan) increased by 8.2 times compared with the same period last year (at the same time, the growth rate of listed company was 2.26 times), and it surpassed the growth enterprise market in a single move (the state securities research report said that in 2015, the scale of the gem issuance fund was 115 billion 630 million yuan). In the first half of 2016, although the new three board market has increased by more than 1500 times, the total amount of funds raised has reached 67 billion 134 million yuan. But according to the Oriental Wealth Choice data, from the single month data, the new three board financing in November 2015 was as high as 24 billion 473 million yuan, while the amount of financing in December was rapidly shrinking, only 11 billion 558 million yuan, a drop of more than 50%. Since 2016, the new three board single month financing level has not been restored to this pre peak period, and this year January ~4 month. The monthly financing of the new three boards has always been maintained at a range of about 10000000000 yuan, especially in the past May. The monthly financing amount was 8 billion 769 million yuan, less than 10 billion yuan. This shows that the new three board financing has gradually entered the "cold winter". (since the stock market in the second half of last year has experienced unprecedented stock market crash, the financing function of the whole capital market is also weakening along with the decrease of valuation). But compared with gem financing, the performance of new three boards in the first half of this year is not too bad. According to Oriental Wealth Choice, 80 GEM companies completed the private placement in the first half of this year, with a total financing amount of 90 billion yuan. In addition, statistics show that after deducting the financing of financial enterprises, the financing amount of new third board enterprises was 69 billion 800 million yuan in the first half of 2016, compared with only 20 billion 400 million yuan in the same period last year. That is to say, compared with the same period last year, more funds went to the real economy this year. Which industries are more likely to melt money on the new three boards? The answer is information technology and cultural media. According to statistics, after the elimination of the financial sector, in the first half of 2016, the total number of new three board financing companies exceeded 100 million, with a total of 140 enterprises, with a total of 38 billion 925 million. From the industry point of view, the information technology industry has consolidated 8 billion 334 million yuan, ranking first (in fact, excluding the financial industry is also the case); the cultural media industry financing amount is 8 billion 180 million yuan, ranking second; the 3-5 industries are basic chemical industry, pharmaceutical and biological and Mechanical equipment. Then he pointed out the current situation of the new three board market, and the activity of the new three board market has always been criticized. As of the first half of 2016 (June 30th), there were 7685 new three board listed company, of which 4747 were listed company accounts, accounting for 60% (61.77%), and all of them were "under the agreement", while the remaining 2938 companies with transaction records transferred the total amount of the agreement. There are 1406, accounting for 47.86%; the total number of transfers is 1532, accounting for 52.14%. According to Oriental Wealth Choice data, in the 120 trading days of the first half of 2016, there were only 56 stocks with a continuous transaction record, accounting for 0.73%, of which 53 were for market transfer and 3 were for agreement transfer. At the same time, in the 56 stocks with continuous trading records, only 4 were recorded in the first half of the year. They were Ying Perry, Ren Hui bio, China magnetic video and Xiao Bailong. The rest recorded a decline, of which the worst decline in the search network was 78.26%, and the total decline of kailid and Lexus's environmental protection was 50%. Above. From the point of view of volume, the number of the first time, the first day of a single day, has reached the top of the new three board turnover in the first half of 2016. It has accumulated more than 20 billion shares, but the cumulative decline in the first half of the year is more than 20%. Weidong's environmental protection ranks the second place, accumulative total of 1 billion 200 million shares, and a 38.26% decline in the first half. In addition, there are 10 stocks including Donghai securities and Silicon Valley paradise, with a total turnover of more than 100 million shares. From the perspective of turnover, Donghai securities, which was transferred through agreement, ranked first in the turnover of the new three boards with a cumulative turnover of 5 billion 350 million yuan. The joint securities company retreated to the second place and accumulated a total turnover of 5 billion 23 million yuan. Weidong ranked third in the environmental protection industry, with a total turnover of more than 40 billion yuan. In the first three months of the new third board, 168 stocks were traded over 100 million yuan. It is worth noting that the new three board layering situation, according to the relevant standards, in June 24, 2016, the national stock transfer company announced the final list, 953 enterprises entered the first innovation layer. According to statistics, since June 27th, the stock transfer system has been formally implemented in the first week of the implementation of the management system in July 1st. The turnover of the company's stock in the innovation layer is 1 billion 690 million yuan, accounting for 49% of the total turnover volume of the week. In the first week of the division, the activity level of the new three board market increased significantly, and the average daily turnover increased by 48%, the average daily turnover ring was 48%. That's 28% more than that. Finally, from the overall development trend of the new three boards, we can see that the new three boards will undoubtedly be the capital market of China's multi-level capital market with the fastest development speed and the largest number of companies. As of June 30, 2016, the number of new three board listing companies has exceeded 7500, to 7685, representing an increase of 2556 from 5129 last year. The number of households increased for only half a year has reached 70% of the total growth in 2015. With other factors remaining unchanged, according to this trend, the number of entrepreneurs listed on the new third board in 2016 is expected to impact the "Wanjia" mark. Second, the total market value of the new three boards is expected to exceed the total market value of the gem in 2017. At the end of 2014, the total market value of the new three boards was 459 billion 100 million yuan; at the end of 2015, the total market value of the new three boards reached 2 trillion and 460 billion yuan, up 5.35 times compared with the same period last year; in 2016, the total market value of the new three boards is expected to exceed 5 trillion. In 2014, the total market value of the gem was 2 trillion and 490 billion, and in 2015, the total market value of the gem was 6 trillion and 810 billion, up 2.73 times compared with the same period last year. In 2016, the total market value of the gem was about 53 thousand and 100 yuan, not rising or falling. It is expected that if gem IPO is still unable to expand and no longer change, according to the current development trend, the total market value of the new three boards is expected to surpass the total market value of the gem in 2017. On the Nasdaq's experience and inspiration, in 1971, NASDAQ (the National Association of Securities Dealers' Automated Quotation System) was only used to concentrate on displaying some selected securities prices in the US OTC market (OTC market, also known as the counter exchange market). Price system does not provide transaction services. Stock trading is realized through the terminals of various market makers. In 1975, NASDAQ set the first set of listing standards to differentiate itself from the OTC market and become an independent listing place. This is regarded as the first stratification of NASDAQ. In 1982, NASDAQ selected 40 excellent companies from the original listed company according to the stock market value and trading activity, and incorporated them into the NASDAQ Global Market (NasdaqGlobalMarket). This stratification (second tiered) has laid an important foundation for the Nasdaq market to develop from the small and micro enterprises market to the upper market. In 1990, Nasdaq was separated from OTC and became a trading place with IPO function. In 2006, due to a large number of companies such as Microsoft and Google, NASDAQ's listed companies gradually surpassed the NYSE, and in July of that year, a higher listing standard was introduced, and the NASDAQ Global Select Market (NasdaqGlobalSelectMarket) was set up. Its listing standards basically copied the listing of the NYSE at that time. The standard is "pre tax profit" index, "market value + income + cash flow" index and "market value + income" index, but the threshold value is slightly higher. The stratified (third tier) adopts the open auction system. It is the rule of the NASDAQ stratification that "first divide the lower level market and set up a top-level market step by step". From the development of NASDAQ over the past 40 years, the establishment of a multi-level internal market is not accomplished overnight. The market is layered and refined, and potential companies are excavated in the low-level market to provide potential high-quality resources for the high level market.