Case Study Of Wu Xi App Tec's Spin Off Of Wu Xi Biologics Hong Kong Stocks

As a shrinking capital operation model,spin off listing occurred early in more mature overseas capital markets,and fewer domestic companies adopted this model.However,as domestic capital markets are more open to the outside world,relevant policies restrict the standardization of this model;and many companies listed early in foreign countries are waiting for the opportunity of private ownership to adjust their strategic positioning or pursue high company valuations.Catalyzed by many of the above factors,companies have accelerated the pace of choice for spin off.This article selects Wu Xi App Tec's spin off case of Wu Xi Biologics:on the one hand,based on the current domestic academic research objects that prefer early success cases,there are few research cases under the new regulations,and Wu Xi App Tec's as a new successful case objects can enrich relevant case studies.On the other hand,Wu Xi App Tec's as a unicorn in the pharmaceutical R&D service industry and the role of Chinese stocks delisted from US stocks,its success can provide practical reference value for domestic companies to choose this way for listing.This article is studied in the following aspects:First,the relevant theories such as information asymmetry,investment and financing strategies,management incentives and asset divestiture value are sorted out.Secondly,it introduces the company of case and the spin off listing process,and analyzes that the main motives such as the need of corporate strategic positioning,seeking higher valuations,expanding financing platforms,and taking advantage of policies.Thirdly,the economic effects of Wu Xi App Tec's spin off listing,including market,company&financial performance,are studied,and it is concluded that spin offlisting may have a positive effect.Finally,a case-based study concludes that spin off listing based on an appropriate strategic positioning can improve enterprise value,investment and financing efficiency,promote more standardized operation,and make some suggestions for the enterprise and the supervisory layer.