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“十一五”期间,中国资本市场已经发生了巨大的变化。中国的GDP总额超过了邻国日本,成为全球第二大经济体。在此期间,中国的股票总市值增长了8.2倍,从第十四名升至第二名。中国境内证券公司资产总额增长了7倍,净资本额增加了2倍,基金公司管理的资产规模扩大了4.2倍,境内股票融资金额达2.84万亿元。因此一些原先于美国上市但市场表现并不良好的中国概念股公司也开始考虑海外退市回归A股,本文以康鹏化学为例,探讨其美股上市后的表现以及私有化退市过程中需要注意的一些因素。
During the 11th Five-Year Plan, China’s capital market has undergone tremendous changes. China’s gross domestic product has surpassed its neighbors Japan to become the world’s second-largest economy. During this period, China’s total market capitalization rose 8.2 times, from 14th place to 2nd place. The total assets of securities companies in China increased seven-fold, the net capital increased two-fold, the fund assets managed by fund companies expanded 4.2 times, and the amount of domestic equity financing reached 2.84 trillion yuan. As a result, some Chinese concept stocks listed in the United States but not performing well in the market have started to consider overseas delisting back to A shares. This article takes Kangpeng Chemical as an example to discuss the performance of its US stocks after the listing and the need for privatization delisting Note some of the factors.