Chinanews client, Beijing, March 23 (Zuo Yukun) In the recent capital market, the phrase "the first stock in the XX industry" appeared frequently.

  Go out shopping to buy a cup of milk tea, rent a shared power bank in a hurry, go home to cook and buy food online with the APP... The industry behind these scenes that can be seen everywhere in life is brewing a runaway "XX No. "One share" contention.

Data map: Investors in a securities business department are concerned about the market trend.

Photo by China News Agency reporter Zhang Lang

All walks of life grab the "first share" of crabs

  In the early autumn of 2020, the "autumn first cup of milk tea" went viral all over the Internet without warning.

CBNData's data shows that the scale of the new tea drink market in 2019 has reached nearly 100 billion yuan, and it is expected to reach 110.2 billion yuan by 2021.

  In the beginning of 2021, the amazing potential of the new-style tea market will make the “first share of new-style tea” another melee.

Naixue’s tea was the first to formally apply for an IPO on the Hong Kong Stock Exchange on New Year’s Eve. Heycha, which is also positioned in the high-end price market, continued to raise funds, and news of the Michelle Ice City listing of "Pinduoduo in the milk tea industry" was also spread.

  Also competing for the first share of the industry are shared charging treasure companies.

As one of the representatives of the sharing economy, shared power banks have recently attracted a lot of saliva due to price increases, but this does not hinder the listing process of industry companies.

  Among the four head players "three powers and one beast" (street power, small power, caller, and monster) sharing the power bank, Xiaodian Technology is the first to report that it has signed a listing counseling agreement with Zheshang Securities and intends to IPO in China ; But in March, Monster Charge suddenly submitted a prospectus to the US Securities and Exchange Commission, planning to list on the Nasdaq in the first half of the year.

Data map: Citizens are renting shared power banks.

Photo by Kang Yuzhan

  The explosive growth of fresh food e-commerce catalyzed by the epidemic has also become a new growth outlet for capital competition.

  Daily fresh food e-commerce platforms, such as Youxian,, Dingdong Maicai, etc., have all reported IPO news, and Wumart’s "Dai Dai" is also eager to go public, sprinting into the domestic "fresh food e-commerce No. "One share" seems to be an industry goal.

  Also fierce competition is online car-hailing.

In October 2020, Dida Travel submitted a prospectus to the Hong Kong Stock Exchange.

If all goes well, Dida will become the first domestic online car-hailing stock.

Behind it, platforms such as Didi, Cao Cao, and T3 are also "fighting with gods."

  "China's Internet industry is staged an unprecedented battle for the'first share'." Someone commented.

The eldest son Qi Juechen, the second son is more anxious

  In fact, in 2020, many industries have already ran out of the "first stock."

  In September 2020, the New York Stock Exchange ushered in the listing of "China's first pet e-commerce stock"-Boqi Pet; in November, Yixian e-commerce, the parent company of the beauty brand Perfect Diary, also launched on the New York Stock Exchange After the listing bell, the "first share of Chinese beauty" was settled; in December, the Hong Kong Stock Exchange ushered in the "first share of blind box" Bubble Mart.

  It can be said that these brands have won the first name smoothly and logically, because they are undisputed leaders in their respective fields.

  The cumulative number of downloads of Poggi Pets ranked first in the Internet pet APP, twice as much as the second; Perfect Diary defeated L'Oreal and Estee Lauder in the competition for Tmall Double 11 makeup brands in 2019 and took the top spot ; Bubble Mart has driven the blind box out of the circle with its own strength, and other similar brands such as 52TOYS and Twelve Dong Culture have been catching up.

Data map: People stop in front of the blind box unmanned vending machine.

Photo by Zhang Yichen

  But in the current competition for the first stock, the second in the industry seems to be more anxious than the boss.

  In the hot new tea-drinking track in the past few years, in terms of the number of stores, the degree of popularity of the products, and the scale of income, the leading company has always been Heytea.

However, Nayuki's tea, which is chasing after him, took the lead and took the initiative in the capital market.

  In the fresh food e-commerce track, the market has been waiting for the founder of the pre-storage model, Daily Youxian, to be the first to go public, and Dingdong Shopping is a latecomer.

However, there is news that Dingdong Shopping is considering going to the US for an IPO within the shortest year, and the pace of latecomers is quite anxious.

  As for Didi, whose national popularity is too small compared to Didi, it is directly referred to by the industry as a "leakage listing".

Didi shut down its ride-hailing business after the ride-hailing incident. Only Tick from the ride-hailing and taxi business took the opportunity to take advantage of the opportunity and became a fat kid by picking up the meat that Didi had thrown away.

  The logic behind the “second first mover” is not difficult to understand, that is, the hope is to get a chance to overtake a corner through the IPO.

After all, such stories are not uncommon in the capital market. The most typical one is the "first share of video website" dispute ten years ago.

  In November 2010, when the hot was about to go public in the United States, founder Wang Wei was forced to postpone the listing due to a property lawsuit with his ex-wife.

The following month, Tudou's competitor, Youku, took the lead and went public in the United States. The stock price rose 160% on the first day.

In the second year of's online market, the stock price fell 12% on the first day, and its market value was only a quarter of Youku's.

Later, Tudou was merged by Youku.

  Therefore, it is not a delusion to use capital to redistribute the original evenly matched pattern. Who says that the second child has no chance to regain a city through IPO?

"Overtaking in a curve or overturning

in a


" is a topic

  "Scramble for the market is a protracted battle. Companies that run ahead in the listing path will get more attention, and will be able to gain more advantages in terms of brand effect and valuation." Digital Economy Research of Zhongnan University of Economics and Law Pan Helin, Executive Dean of the Academy, analyzed the special significance of "the first stock in the industry" in this way.

  Needless to say, there is no need to say more about the benefits of listing. Why is the recent competition for the “first share” so fierce?

  In the context of the comprehensive promotion of the registration system in the domestic market, companies have ushered in opportunities and channels to enter the capital market faster.

According to statistics, the overall IPO meeting rate in the first quarter of 2020 exceeded 95%, a record high.

Looking back at the previous data, the meeting rate for the whole year of 2019 was 84.15%. Earlier in 2018, the meeting rate was only 57.51%.

  In the past two years, the IPO gate has opened wide, and the pass rate has increased significantly, which has also created soil for the birth of various “first shares”.

At the same time, most of the “first shares” are on the emerging track, and many are still in the stage of “burning money”. They need to obtain more “ammunition” through listing and financing to help the platform further develop. Money, grab people.

Investors passed through the internal science and technology innovation board market information display screen of a securities business department in Beijing.

Photo by China News Agency reporter Hou Yu

  In 2021, when IPOs continue to be popular and new frenzy, more and more companies have the courage to dive into the water to eat crabs and strive to be the "first share".

But "regardless of the three or seventy-one, first go public and then talk about it", is it really conducive to the development of enterprises and the industry?

  March 17th was the day when Dongfang Jinyu was delisted from the A-share market.

Due to the decline of the company's main business and continuous losses, the market value has evaporated by nearly 30 billion yuan in a few years.

  In January, luxury e-commerce Secoo announced that the company's board of directors had received an offer to privatize the company's founder, chairman and CEO Li Rixue.

If the privatization is completed, Secoo, the "first share of luxury e-commerce," will be delisted from Nasdaq.

  Earlier in 2018, Uxin, a used car platform, came out of the fierce competition with Guazi and Dasouche, and became the “first-hand car e-commerce stock” listed on Nasdaq in the United States. However, it lost approximately two years after its listing. 3.5 billion yuan, the stock price has shrunk by more than 83%.

  In any case, the "first stock" plays the role of a tester.

Especially in the fast-changing capital market, whether to "overtake" a curve or "roll over" a curve, the "second child" may have more consideration than the "boss".