Research On The Motivation And Performance Of The Return Of BYD H Shares To A Shares

Since July 15,1993,Tsingtao Brewery has landed H shares on the Hong Kong Stock Exchange and became the first overseas listed company in China.Our domestic companies have gradually started the process of listing overseas.On June 30,1995,entrepreneurial environmental protection became the first company in China’s true sense to return to the A-share market from the return of H shares to the mainland.Since then,my domestic company has sought to become one of the channels for the company’s listing financing by first listing from H shares and then returning to A shares.As of the first quarter of 2019,a total of 112 mainland Chinese companies were listed at the same time in the Mainland and Hong Kong.Among them,81 companies were first H and then A,and H shares returned to A shares.These H-share companies that return to A-share listings generally have national participation or holdings,and the A-share stock price is generally more favorable than the H-share stock price.In addition to directly obtaining support from the capital market,the return of H shares to A-share listing financing will also have certain effects on the company’s strategic layout,business results and market reaction.This article takes BYD Co.,Ltd.,a H-share company that returns to the A-share market,as an example.Firstly,it analyzes the motivation of BYD’s 2011 H-share return to A-share listing,and points out that it has returned to the A-share market from H-shares.Mainly due to the company’s internal capacity shortage,the H-share market is insufficient to support the transformation of the enterprise and the A-share market isconducive to corporate financing.Then it analyzes the financial performance of BYD H shares returning to A shares.Through research,it is found that although BYD’s return to the use of funds is not good,its return behavior has indeed played a positive role in the direct accounting subjects and business indicators in 2011.Furthermore,through the analysis of the financial indicators of case companies and companies in the same industry,it is found that BYD’s solvency and operational capacity after returning to A shares are not increasing,and the indicators are not advantageous in the industry.In order to fully reflect the performance of BYD after the return,the paper then conducted an analysis of non-financial performance.On the one hand,by the cumulative excess return rate,investors react to the return of H shares to A shares.On the other hand,by analyzing the long-term advantages of BYD’s market share,brand building and customer satisfaction,business process optimization and diversification strategy,and increasing the non-financial indicators such as R&D and technology,we found that BYD H shares returned.The non-financial performance of A shares has improved.The full text examines the motivations and performance of BYD H shares returning to A-share listing from multiple perspectives,which helps BYD to achieve its own financing and strategic goals and improve its competitiveness.It also develops for other companies that wish to use this model for financing.A reasonable business plan provides a model to enhance investors’ control over the company’s conversion of financial markets and related behavioral investment information,as well as to improve the domestic capital market and improve the concept of new energy vehicles and H shares returning to A shares.A reasonable policy orientation provides a sample.