Research On The Performance Of Montage Technology's Delisting From Nasdaq Stock Market And Its Returning To Science And Technology Innovation Board

From the 21st century until now,a large number of domestic companies have listed in the United States.At the same time,the short-selling event of China concept stock also happened constantly and became more frequent.The problems exposed by this have also aroused the attention of domestic and foreign scholars.In sharp contrast to the American capital market,China's capital market has been maturing in recent years,with its market system gradually improved and financing channels constantly expanded.Instead of enjoying the advantages brought by the US capital market,many high-tech enterprises and Internet companies that were originally listed in the US stock market have encountered a series of problems such as poor financing effect,frequent short selling,and high maintenance costs for listing.Some companies have opted to go private and return to the domestic A-share market.In this paper,I choose Montage Technology,an integrated circuit design company,as the case object to study the whole event of its privatization and delisting from the US stock market.I combined relevant theories and data to analyze the reasons for Montage Technology's delisting from the US stock market.In order to evaluate the effect of Montage Technology after its delisting from the US stock market privatization,I analyzed its business performance after privatization from the perspectives of financial index evaluation and non-financial index evaluation.The non-financial index was analyzed by market share and EVA economic added value.In order to analyze the effect of Montage's return to the Science and Technology Innovation Board,I evaluates the effect of Montage's return to the Science and Technology Innovation Board from the perspective of the stock price performance,stock liquidity,company market value,the change of raised funds and corporate governance.Finally,I summarize the previous analysis and relevant literature to draw the corresponding conclusions.And from the two levels of enterprises and government,I put forward the corresponding countermeasures and enlightenment for the phenomenon of Chinese general stocks' poor performance in the United States and the return to A-shares.