Case Study Of China Stocks Returning To A-share Market By Backdoor Listing

With the popularity of mobile Internet,Internet of Things and the rapid development of cloud computing and big data,the importance of network security has become increasingly prominent.Under this background,Internet security enterprises that conform to the development direction of national industrial strategy will undoubtedly be favored by domestic investors.At the same time,China's capital market continues to improve and foreign financing channels narrow.More and more listed companies in the United States hope to expand their financing channels through domestic listings to obtain more working capital to achieve long-term effective enterprise development.Many Chinese stocks were delisted from US stocks.After privatization delisting,demolition of VIE structure and equity restructuring,they chose the right way to return to A shares.Under the strict control of the IPO,the backdoor listing has gradually become an important way to realize the optimal allocation of capital market resources by helping companies to get listed faster,alleviating financing constraints,and effectively using the market to reduce the cost of listing.In recent years,there have been many stocks.-For example,Baofeng Technology,Focus Media and Giant Network have achieved the purpose of curve listing financing through backdoor listing,which makes the successful acquisition of information technology in the stock market.This paper uses the case study method to select the largest enterprise in the return of China stocks,Qihoo 360,as a case study,and conducts research on the use of backdoor listings to return to A shares.This paper introduces the background of Qihoo360 privatization delisting and dismantling the VIE architecture,analyzes the unique backdoor operation plan of Qihoo 360,why it gives up the IPO to choose the backdoor Jiangnan Jiajie,and the performance realization problems and potential risks after the return,and from The paper proposes a case of a listed company and a management perspective to summarize the case revelation of Qihoo 360's successful backdoor listing.This paper believes that the success of Qihoo 360 is not only dependent on the support of national policies,but also because of its sufficient preparatory work,that is,scientific and rational privatization plan,high-quality innocent market shell resources and efficient and feasible backdoor trading strategy and flexible choice.The transaction method;in addition,the government should strengthen the supervision of mergers and acquisitions,improve the delisting system and maintain market order to protect theinterests of investors,and innovative listing system such as the introduction of the CDR system and the improvement of the science and technology board,for other outstanding Chinese stocks The return provides policy convenience.For the Chinese stock companies,"return is to go better." Returning to A-shares is only the first step towards achieving the company's development goals.The future capital market road is full of variables.How to achieve long-term sustainable development is the key.The stocks represented by Qihoo 360 can only gain the recognition of the domestic capital market by not forgetting the initial intention,focusing on the improvement of their own performance,building the advantageous brand and accumulating good reputation and realizing the return of the enterprise after realizing the enterprise value.Investor support.