Case Study On Privatization And Returning To Chinese Capital Martet Of Qihoo 360

Since 2015,the well-known China Concept Stock Companies have successfully completed the privatization of overseas exchanges and landed in domestic capital markets such as Stormwind,Giant Network and Focus Media.In the theoretical sense,the research on the privatization of Chinese capital market has some meaning for the improvement of the rules of Chinese market.From a practical point of view,the research on privatization mode,the demolition of VIE structure and the research on risk control are of guiding to the follow-up of China Concept Stock Companies which are expected to return to domestic capital markets.Valuation analysis is of great meaning to private equity investment institutions.This paper focus on Qihoo 360 as a case study of the privatization from overseas stock markets and returning to Chinese capital market in the research,and hopes to stand from the angle of practical practitioners,to explore the issues,such as the ways of privatization,delisting and return,the motivation of regression,risk control,valuation factors and so on.This article firstly introduces the historical evolution path of China Concept Stock Companies and the current situation of its research in very brief way.Secondly,it elaborates on the process of Qihoo 360 from privatization to the dismantling of the VIE structure and then backdoor listing to the domestic capital market through Jiangnan Jiajie.The essential part is on analysis of the Internet industry and Qihoo 360's business model,with the relevant valuation method theory and Qihoo 360's financial situation,trying to explore its valuation issues.Last part,through the summary of the key points of Qihoo 360,presenting Some of Qihoo 360's successful experiences to following China Concept Stock Companies which may seek its way back to domestic capital markets in the future.