Editorial Summary

Thirteen companies, including community site Tianya Club and movie production company Huayi Brothers, took part in a meeting for prospective listing candidates about the launch of a new Growth Enterprise Market (GEM) on March 24, reports National Business Daily. The GEM is expected to launch this year in Shenzhen, with some reports saying as early as June. Most of the 13 prospective companies are from the IT industry, including solar energy company Zhejiang Sunflower Light Energy Science & Technology Co., Ltd., said the report.

A 163.com report quoted Tianya Club CEO Xing Ming saying that his company will not be among the first batch of companies to list on the GEM. Xing said Tianya will observe the performance of the GEM first before deciding whether to list and added that based on its profit growth Tianya would be able to list on the main A-shares market in 2009. Xing said Tianya’s profit grew nine-fold in 2007 from RMB2 million in 2006.