红筹回归路径探索（Red chip return path exploration）.docVIP

红筹回归路径探索（Red chip return path exploration） Source: chief financial officer Author: Zero2IPO date: 2011-03-15 With the domestic capital market continues to improve, more and more has set up a good red chip structure of the enterprise, is in the process of removal of red chip architecture in the capital market to seek a listing way. Red chip return path exploration Since the No. 10 issued by building enterprise China via red chip architecture of overseas capital market listing and financing in the capital market with almost vanish like soap bubbles, continuously perfect, clear research center observed, more and more has set up a good red chip structure of the enterprise, is a hand in removal of red chip architecture in the capital market to seek a listing way. Overseas red chip architecture structure formed when established, often have two ways: one is the information industry such as Sina, which belongs to the field of foreign investment restrictions, you can through the VIE protocol control, so that foreign entity mergers in the enterprises financial statements; two is a common industry, namely non restrictions on foreign investment industry then, through the establishment of overseas Special Purpose Company, the domestic equity indirect response to foreign entities, after overseas entities can be listed overseas. It can be derived from multiple regression model is not listed on the red chip architecture enterprises. But at present the Commission for listed companies will have consideration for the equity structure, information disclosure of the prospectus in the grasp, there is no return of red chips fixed pattern applicable everywhere, the non listed companies still need to combine its own characteristics, some fine-tuning of the regression model in available in order to meet their own demands. Not listed companies to return of red chip architecture model In return of red chip mode, the method is clear and complete removal of overseas architecture, and the equity