Daily data tracking
Three major indexes: the Shanghai index closed up 1.12%, the Shenzhen composite index closed up 0.31%, and the gem index closed up 0.11%
Shenwanyi sector: real estate, architectural decoration, agriculture, forestry, animal husbandry and fishery rose; National defense, computer and electrical equipment
Concept sector: the concept of coal mining, pig industry and large infrastructure central enterprises rose; Digital currency, operating system, Semiconductor Manufacturing International Corporation(688981) concept callback
Transaction and northbound funds: the transaction between the two cities was about 990.5 billion yuan, a decrease from the previous trading day; The net capital flow to the north is about 8.457 billion yuan
Hot spot tracking: performance review of science and Innovation Board
Spac (Special Purpose Acquisition company) is a special purpose acquisition company. 2021 is the year of the outbreak of SPAC in the world, among which the United States is the most active. In 2021, the number reached 613, with a total fund-raising of 162394 billion US dollars. The first spac of the Hong Kong Stock Exchange landed very fast this time. The time between the proposed launch of the SPAC system and the official release of the first listing of the Hong Kong stock exchange is only about half a year, which is not beyond expectations. The Hong Kong Stock Exchange stipulates that the initial public offering of Hong Kong spac is only for industrial investors, so the overall activity is relatively low. According to the company’s announcement, Aquila plans to focus on companies in Asia, especially China, in new economic fields enabled by science and Technology (such as green energy, life sciences and advanced technology). From the perspective of investment field, investment in new economy and hard science and technology is not only in line with China’s national conditions of economic transformation, but also in line with the label positioning of HKEx.
Spac has become a new trend of global venture capital. Spac listing provides a simple, fast, efficient and determined listing and financing path for private enterprises. Spac listing combines public offering and private financing, which has a strong attraction for private enterprises willing to list, and also provides a fast channel for a large number of idle private capital to exit. The SPAC rules of the Hong Kong Stock Exchange have formulated relatively stricter rules in terms of investor protection, market quality and market attraction, which is conducive to improving the quality of the Hong Kong stock market.
For China’s investment banking business, spac business is still a blue ocean. Compared with backdoor listing and IPO, spac listing has the characteristics of relatively low cost, generally high time efficiency and relatively simple audit process, which fills the frequent project shortage of China’s investment banking business.
At the same time, the SPAC model also has certain risks. For example, it depends on the qualifications of the initiator and management team and the ability to select high-quality projects. If the experience is insufficient, the acquisition of projects with poor quality will cause the loss and departure of investors.
Risk tip: the stock market has risks, and investment should be cautious
