IMOT. GEO . To Read.
Do i understand there are 160 companies quoted now and within 3 years there will be 2.000 commanies quoted?
If that's true then this is a good Grower.
Because with 160 companies, the trading volumes have generated net profit 12Millions RMB = $1.55M . IMOt has 15% , so it will translate to $230K in profit the co. Maybe still a small profit in regards of the pps. But i guess Wallstreet guys will give a very high PE see NYMEX and OPBL.
But i guess IMOT may have other smaller revenues from other 'holding' than this shenzhen Exchange Center.
SHENZHEN, China, Feb 06, 2007 /Xinhua-PRNewswire via COMTEX/ -- The Intermost Corporation (IMOT) , a leading electronic online equity exchange service provider in China, is pleased to announce that its joint venture, the Shenzhen International Hi-Tech Property Rights Exchange Center ('Shenzhen Exchange'), reported a total trading volume of 45.8 billion RMB in 2006, a 40% increase over the previous year. Last year, the Shenzhen Exchange served 7,331 enterprises and renewed records in revenue and profit.
The Shenzhen Exchange ranks among the top three equity exchanges in China, as well as the best performing hi-tech equity exchange. Currently there are 160 stock companies under its depository with approximately ten billion shares. Half of them are well performing hi-tech enterprises. Ten companies have gone public on overseas stock markets, including MINDRAY MEDICAL INTL listed on the NYSE, and LAUNCH TECH, POWERLEADER, and MINGWAH HI-TECH, which all listed on the HKEX. The Shenzhen Exchange is projected to expand its depository to 2000 companies in three years' time.
To provide endless listing-eligible resources to the capital markets in China and abroad, in 2006 the Shenzhen Exchange started the program of 'Growth Road Map of Innovative Enterprises'. In only three months, the applications of sixty enterprises have been accepted. Thirty-eight of them were granted a subsidy of 20.50 million RMB, and six of them successfully went public. The 'Growth Road Map of Innovative Enterprises' opens a green channel for hi-tech enterprises to enter the Multi-Layer Capital Market.
Mr. Xiangxiong Deng, acting CEO of the Intermost Corporation was rather pleased to witness the rapid growth of the Shenzhen Exchange. He said, 'The Chinese government has started the year 2007 with solid support for the Equity Exchange Market, and thus will welcome unprecedented opportunities. The Intermost Corporation has engaged in the equity exchange business since 2003. It's high time that we reap the harvest!'
The Intermost Corporation holds a 15% share in the Shenzhen Exchange. Mr. Deng also indicated that they retained the possibility of increasing the shareholding position in the Shenzhen Exchange, as well as the possibility of direct investment in other leading equity exchanges in China.
About the Intermost Corporation