A Study On The Return Of Chinese Listed Chinese Holding Companies

China's securities market started late,the system was not perfect,and audits were stringent and could not meet the needs of many high-quality companies for quick time to market financing.Since 2000,many small and medium-sized innovative technology companies in China have turned their eyes to the US securities market and set off a Another wave of overseas listings.However,the development of Chinese-listed Chinese-funded holding companies has not been smooth.In 2011,large-scale short-selling of US Chinese shares,undervalued values due to cultural differences,and stringent regulatory systems led to the gradual return of US-listed Chinese-funded enterprises.In the beginning of the year,China's Chinese stocks showed a trend of large-scale collective return.This paper analyzes the return to the status quo of Chinese-funded companies in the United States,the reasons for privatization in the US market,the privatization process,and the re-listing path of domestic A-shares.The analysis concludes that the return trend of US-invested Chinese stocks has intensified,mainly focusing on computers,games and In the media and other industries,in the process of listing domestic A shares,backdoor listing is still the mainstream way for U.S.Chinese capital stocks to return to the A-share market.This article selects Qihoo 360,the largest and most representative of privatization at present,as a case.By analyzing the reasons and process of its listing in the United States and the situation within a few years of listing in the United States,Qihoo 360,s return to the domestic market is mainly due to the undervaluation.,corporate strategy objectives,domestic policy support,and the high cost of keeping the US listed;then the analysis of 460 cases of backdoor Jiangnan Jiajie,the main reasons for the backdoor is Jiangnan Jiajie share capital is small,the equity structure is simple,the main business is single and Profit decreased year by year;after Qihoo 360 borrowed Jiangnan Jiajie,the equity structure was optimized and the company's value was improved.Finally,the problems encountered during the return of Qihoo 360 were analyzed,including cost of capital,legal issues,and pressure on the appreciation of the US dollar.Problems and uncertainties in domestic listings and A-share environmental issues after listing.Finally,we summarize Qihoo 360's regression case analysis and draw inspiration and suggestions from the perspective of the listed entity,management perspective and investors.For US-listed Chinese-funded companies,they should return to motives,strengthen risk management,and strictly abide by laws and regulations.For management,it is necessary to improve the information disclosure and delisting systems and prepare for the registration system.For one thing,small and medium investors should avoid blindly following the trend,and institutional investors can participate appropriately.