First, the operational risk

The first reporting of listed companies from the industry distribution , mainly in new energy, new materials, electronic information, biological medicine , green energy , modern services and other emerging industries . Such companies have the technology and business model innovation obvious features, but not a long history of entrepreneurship , business stability below the main board listed company as a whole , a number of listed companies may be ups and downs and even business failure, and therefore the share price will fluctuate significantly listed companies face delisting risk is relatively large.

Second, the integrity risk

Private enterprise , there may be a problem of information asymmetry prominent mostly GEM companies , corporate governance, market integrity of the building may be imperfect . There may be insufficient risk information disclosure , investors may not be able to accurately understand the company 's real operating conditions, it is difficult to grasp the future development of the business prospects.

Third, valuation risk

When entrepreneurship, especially in the creation of innovative companies a new business model and corporate earnings rules of survival , but also led to an unstable operating results , future prospects difficult to judge. In most cases their frame of reference pricing is not available , is very difficult to be accurate valuation , so the stock price to determine the risk of large errors . Moreover , the value of innovative enterprises depend more on their core competencies with , but this requires a higher professional judgment and depends more on investor preferences and the prevailing market situation . Therefore, there is a big investor in the judgment randomness and blindness investment value of listed companies .

Fourth, technology risk

The high-tech into real products or services with significant uncertainty , is bound to be many variables and is difficult to estimate in advance the role and impact of uncertainty , the risk of loss caused by the presence of a technical failure.

Fifth, the risk of blind speculation

Chinese investors structure is still dominated by individual investors , the value of screening ability of the company to be improved , risk-resisting ability is not strong, the estimated value of the venture itself is more difficult and prone to blind investment and risk arising from investment losses .

Sixth, the stock price volatility risk

GEM outstanding capital stock of small , high turnover , a large number of stock trading behavior is likely to induce significant fluctuations in share prices , stock price manipulation and more easily. GEM development experience from overseas market, the price volatility of the GEM market is significantly higher than the motherboard market .

Seven, intermediary risk

Due to the characteristics of entrepreneurship itself , if the intermediary market can not be fully screened and oversight role , may lead to the recommended company's quality is not high.

Eight , delisting risk

Our shares are traded on the Main Market ST, * the ST, if not yet reached profitability standards, will face delisting risk . Relatively speaking , the GEM delisting system more rigorous , and more market-oriented . GEM will not appear ST, * ST and other warning transitional phase , unlike the motherboard requirements must be entered agency share transfer system , but directly delisting. By then, investors holding the stock liquidity and the value will be drastically reduced or even zero , which is the biggest risk GEM . For now, directly before the delisting system is not, relatively speaking, a small entrepreneurial companies with large operating risks can not reach market conditions led to the possibility of a lot better than the motherboard and small plates . Therefore , the future appears directly GEM delisting companies is inevitable.