Transformation Of Financial Printing Under Paperless Audit: Home Of Securities Companies

"If you can't find a strategic investor, ask the IR team of Rongda." Recently, an article released by Rongda group has attracted market attention.

As the printing leader of securities business, Rongda has become popular in the financial circle relying on the printing of declaration materials and documents in IPO and other fields.

However, with the reform of IPO electronic and paperless audit initiated by the science and technology innovation board, the printing business once faced challenges, and Rongda also transformed into other capital market businesses.

According to the 21st century economic report, Rongda has been expanding in the direction of financial information retrieval, cloud collaboration and prospectus content verification in recent years, and now the investor relationship service (IR) has become an important field for it. As early as 2014, Zhou Zhengrong, the actual controller of Rongda, established Rongda Technology Co., Ltd. with several shareholders, which has become the main body of many new businesses of Rongda.

With the rapid development of the transformation, the mysterious veil of the latest development of the printing enterprise, the former leading securities industry, is slowly being uncovered.

Rongda turns around

In the same time, it has obtained a high proportion of "first century consulting materials" and "Rongda group" in the field of "internal consulting" and "Rongda group" with a high share of "First Century Consulting" in the "first century" consulting market.

According to its own analysis, its branch, which is mainly responsible for financing in Nanjing and Shenzhen for two consecutive years, has been set up in Nanjing for two consecutive years.

The above-mentioned business reports of investment agencies, such as the above-mentioned roadshow, IR, investment relationship analysis reports, etc.

In addition, Rongda has developed different IR management business processes for the issuing stage and listed companies.

For example, for the business in the issuance stage, Rongda needs to explore the characteristics of the enterprises to be listed through interviews, communicate with investors and seller's institutions, and finally achieve the writing and publishing of research reports. According to its work objectives, it will eventually determine 40 institutional investors and prepare the corresponding enterprise issuance valuation report.

For the listed companies, the work content determined by Rongda will match up to 80 investment institutions, and determine 30 potential investment institutions.

It is worth mentioning that in this material, Rongda regards "the guidance of small and medium-sized retail investors" as one of the contents of the work objectives.

"Professional IR institutions are two-way service for companies and investors, which can further solve the information asymmetry in the market." An investment bank person close to the regulatory level said, "but IR business has not developed mature in China in recent years, and sometimes market value management is easy to be mixed with violations of institutional investors and sellers. This is because the seller institutions of securities companies are required to write reports independently and can not be affected by the third party or public relations factors. However, there may be some problems if there is a corresponding bidding report or research report

Resource transformation?

The reason why we are confident that we can communicate with so many investors for an IR project may be related to the institutional resources held by Rongda.

The above materials show that the capital division of Rongda "links" the customer resources accumulated by Rongda in the past 20 years, including more than 3000 listed companies and thousands of companies to be listed, as well as more than 6200 institutional investors.

"Financial printing can get in touch with more listed companies, securities companies, investment banks and even institutional investors, but whether they can establish a deeper relationship often depends on whether they are professional." An investment bank of a listed securities firm pointed out that "Rongda is very vertical in the printing of IPO and other businesses, but whether it can effectively contact so many market entities still needs to draw a question mark."

For example, the investment projects of Baosteel and Tianjin tianque Investment Co., Ltd.

In the above materials, Rongda made a quotation for IR business. For the companies to be listed in the issuance stage, Rongda provides three services, including report writing, investment institution matching and article publishing. Among them, the number of analysis articles is up to 10, and the channels are more than 100. The quotation of the above three services is about 550000 yuan.

"In recent years, there is no demand for IR in the RMB market, because IPO pricing is locked up. However, with the reform of registration system and marketization of new share pricing, the pricing of 23 times P / E ratio will be broken, which means that the investment value of the issuer in the future and the presentation of its own value in the process of roadshow will have a very important impact on the pricing." A PE organization in Beijing said, "there is no problem with the track of Rongda transformation, but there may be more ways to go in the future for a printing company to transform to IR."