A shares of 28 university-linked companies defy fundamentals

The collective market value of 28 university-promoted companies whose stocks are A shares soared a whopping 163 percent in the last seven quarters, from 187.8 billion yuan ($28.64 billion) in March 2014 to 493.7 billion yuan on Dec 31, 2015.

And only half of the 28 enterprises now have a market value below 10 billion yuan. United Science & Technology Co Ltd, which is affiliated to Zhejiang University, has the lowest market capitalization of 5.6 billion yuan.

Twelve firms' individual market value ranges from 10 billion yuan to 50 billion yuan. The market value of two enterprises, Peking University-promoted Founder Securities Co Ltd and Tsinghua University-founded Tongfang Co Ltd, boast market value exceeding 50 billion each (79 billion yuan and 53.6 billion yuan respectively).