A Case Study Of Wu Xi App Tec Co.'s Return To A-share Market

Influenced by various factors such as differences in corporate culture at home and abroad,slow economic growth and the crisis of Chinese stocks,overseas investors do not approve of the business philosophy and business model of Chinese stocks.The undervalued and poor liquidity of the company's shares have restricted the refinancing ability of enterprises in foreign capital markets and the sustainable development of the company's business.As a result,many Chinese stocks have started privatization and delisting in order to re-list in domestic capital markets.After WuXi AppTec Co.,Ltd returned to the A-share market,he realized a second burst of enterprise value,provided domestic investors with high-quality underlying assets,enriched the investment structure and industry level of the domestic capital market,and promoted the development of the domestic capital market.As the first Chinese stock company to successfully return to the A-share market in the form of IPO,WuXi AppTec Co.,Ltd's return plan has certain representativeness and novelty,and has certain reference value for other Chinese stock companies.On the basis of previous studies,this paper uses the research method of combining theoretical analysis and case analysis,taking WuXi AppTec Co.,Ltd as the research case,to make an in-depth analysis on the motivation of WuXi AppTec Co.,Ltdt's return to the A-share market,the choice of return time,the design of return plan and the market effect,financial effect and corporate governance effect after returning to A shares are analyzed in depth.It is found that after Yaoming Kant listed on A shares market,the company's stock price rises,the price-earnings ratio and valuation rise,bringing positive wealth effect to shareholders.In addition,the company's return on net assets,net profit margin,asset-liability ratio and total asset turnover rate and other financial indicators have been improved to varying degrees,and financial performance has improved.The company's equity structure has been optimized and the short-term effect of equity incentive is remarkable.Finally,according to the previous research results,it is suggested that Chinese stock companies should rationally choose the way to return to the domestic capital market according to their own characteristics,industry background and domestic market conditions,and the Gegulatory authorities should improve relevant laws and regulations to guide high-quality Chinese stock companies to return.