Motivation And Path Choice Of China's Concept Stock Return

Since the 1990 s,some Chinese companies have tried to list overseas in order to obtain new financing channels.Since the largest controlling interest or actual controllers of these companies belong to China,they are called China's concept Stock.However,in recent years,the market value of China's concept stock has been underestimated and the stock price has continued to decline.At the same time,the construction of domestic capital markets has been gradually improved,so some Internet companies have taken the lead in returning.After 2015,Internet companies such as Focus Media and Storm player have succeeded in returning.After that,China's concept stock in various industries also waited for opportunities to find the right time to return.In this context,it is worthwhile for us to study why China's concept Stock choose to return and which path is chosen.This article firstly sorts out the literature,analyzes the reasons for the return of China's Concept Stock,and explains the key steps in the process of return.Secondly,comparing the path of relisting of China's Concept Stock,making a concrete analysis about the advantages and disadvantages of the IPO or listing on the New Third Board,backdoor listing,spin-off listing,merger and acquisition by A-share listed companies,CDR listing,analyzing the relevant requirements of different listing sectors and elaborating on the impact of the return of China's Concept Stock.Later,this paper with JA Solar as the research object,a case analysis method was used to elaborate the entire process of the company from privatization and delisting to backdoor return,studying the motivations,paths and impacts of the return.Finally,some enlightenments were drawn for the company's return process,and it was believed that under the premise of correcting the motivation of returning to China,the selection of asuitable return path is crucial for its successful return.The article proposes corresponding countermeasures and suggestions from the investors themselves,the government and the regulatory level to the relevant problems that may be faced in the process of the return of China's Concept Stock for the reference of others.Although this case is of reference value for the return of other China's Concept stock,when other companies learn from JA Solar's successful experience,they also need to dialectically consider their own situation to choose the optimal return path.