Reasons For The Return Of Chinese Concept Stocks And Performance Analysis ——Take Trina Solar As An Example

At the end of the 20 th century,China’s capital market was still in its infancy,and the foreign capital market had developed relatively mature,and the supporting systems of all parties were relatively perfect.With the success of the first enterprise listed in the United States,some Chinese enterprises have embarked on the road of listing in the United States.In recent years,the development of China’s capital market has been improved day by day,and the science and innovation board and gem have been established to meet the needs of innovative and potential companies to apply for listing and obtain financing.The pilot of registration system has been carried out continuously,which has reduced the threshold of enterprise listing and actively guided Chinese stock companies to return to the domestic capital market.In order to seek development,zhonggai shares have chosen to privatize and return to the domestic capital market.Trina Solar is a leading enterprise in the photovoltaic industry,focusing on R ＆ D and innovation.It has repeatedly set world records in component products.The enterprise has strong overall strength and high global popularity.Trina Solar was listed on the New York Stock Exchange in the United States at the end of 2006.By 2017,the privatization and delisting were completed.The enterprise scale was expanding and the business performance was good,but it still faced the problem of low valuation in the US stock market.In addition,China concept shares were shorted by shorting institutions for many times.Out of the need to adjust the company’s strategy,the development of photovoltaic industry brought opportunities and domestic policies to guide the return of China concept shares were introduced one after another,Trina Solar followed the trend and chose to withdraw from the US capital market.After the withdrawal of US stocks,Trina Solar began to plan to be listed in China and finally listed on the A-share science and innovation board in June 2020.In this paper,Trina Solar energy is selected as the representative case of zhonggai shares.Because in the case study of the privatization return of zhonggai shares,there are few cases that select the photovoltaic industry as the research object,and Trina Solar energy returned in 2020.No scholars have studied it before,so the privatization return of Trina Solar energy to a shares is taken as a case,and the topic is relatively novel.In the process of writing this paper,the research methods of literature research,case analysis and comparative analysis are used to analyze the motivation of the return of Chinese concept shares and the performance before and after the return to the domestic market.In the part of analyzing the performance of Trina Solar’s return to a shares,firstly,compare the performance of Trina Solar in the U.S.and A-share markets and the valuation of the enterprise,secondly analyze its financial aspects from the changes of the company’s profitability,operating ability,solvency and growth ability,and finally analyze the non-financial aspects of the company from the two parts of the company’s business development changes and strategy optimization,It is found that Trina Solar performs better in three aspects after returning to a shares.At present,China’s research on the privatization of China concept shares mostly focuses on the theory and motivation,and there is less research on the performance of China concept shares after returning to the domestic capital market.Combined with the characteristics of Trina Solar’s listing,this paper analyzes the motivation and performance of the return of zhonggai shares to the listing,and judges whether the Chinese market can bring benefits to the returned zhonggai companies.At the same time,at the end,this paper expounds the suggestions on the enterprise level,supervision level and investor level through this case.Taking Trina Solar,a leader in the photovoltaic industry,as a case,this paper analyzes the motivation of the return of China concept share privatization in recent years,studies the performance changes of the company before and after the return from different aspects,and judges whether the return can achieve the expected effect and bring positive economic benefits to the company.These have important reference value for the photovoltaic enterprises to be returned and the China concept share enterprises planning to return to privatization.The return of the privatization of Chinese stock enterprises not only brings many benefits to the enterprises themselves,but also provides investors with more choices and promotes the vigorous development of capital market.