Analysis Of The Financing Effect Of Chinese Concept Stocks Returning To The Science And Technology Innovation Boar

Due to the intensification of international trade conflicts,the supervision of China concept stocks has been continuously strengthened,and the short-selling agencies have intensified their crackdown,and the crisis of confidence in China concept stocks has erupted again.When the first crisis of confidence occurred,a large number of companies withdrew from the US stock market.However,the domestic capital market was not yet mature at that time,and the return and development of China concept stocks was hindered.Now the A-share market has deepened reform and is fully prepared for the return of more China concept stocks.Based on this,this paper selects Trina Solar,a China concept stock that returns to the science and technology innovation board after delisted in the United States,to conduct research.By combing relevant literature and combining the delisting regression process of Trina Solar,it analyzes and summarizes the reasons for its return and selection of the science and technology innovation board.On this basis,it focuses on the analysis of the effect of Trina Solar ’s listing and financing,and explores the impact of listing on the science and technology innovation board on the financing of China concept stocks,in order to provide reference for China concept stocks that want to return to the science and technology innovation board.When studying the financing effect of Trina Solar,this paper first analyzes the changes in the financing situation of Trina Solar ’s various channels,and then analyzes it from four aspects : financing cost,enterprise performance after financing,financing risk and financing efficiency.First of all,by comparing the situation of other plates and other enterprises in the same plate,using the financial indicators and the idea of internal rate of return to calculate and analyze,it is concluded that the listing and issuance costs and refinancing costs of Trina Solar are higher.Secondly,it analyzes the market reaction,R & D funds and personnel input,income and so on after the listing and financing of Trina Solar,and finds that Trina Solar performs well.Again,the analysis of related financing risks found that Trina Solar faces certain financial risks,but the risks are controllable.Finally,the data envelopment method(DEA)is used to measure the financing efficiency of the listed companies on the science and technology innovation board in the same year.The results show that the overall financing efficiency of the science and technology innovation board is low,and the financing efficiency of Trina Solar is low in the year of listing.On the whole,Trina Solar has a good financing effect and basically achieves the financing purpose,but the efficiency of capital utilization needs to be enhanced,the capital structure also needs to be adjusted,and attention should be paid to R & D efforts to avoid financing risks.This also brings some enlightenment to other enterprises ’ financing,that is,the financing cost is low,the financing efficiency will increase with the increase of listing time,and the market performance can be improved.