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即使是成功上市的企业也在一段时间内对持续上市交易的要求毫不知情,许多企业因此面临退市风险。对大多数企业来说,适应美国的公司治理模式是一项全新的挑战。过去10年中,许多赴美上市的中资企业以一个熟悉的模式进入美国资本市场——反向并购一个美国上市公司,借壳上市。借壳上市,此处指反向收购。意即非上市公司股东通过收购一家壳公司(上市公司)的股份,控制该公司,再由该公司反向收购非上市公司的资产和业务,使之成为上市公
Even the successful listing of companies for a period of time without the knowledge of the continuing listing of the transaction, many companies therefore face the delisting risk. For most businesses, adapting to the U.S. corporate governance model is a completely new challenge. In the past 10 years, many Chinese-funded companies that went public in the United States entered the US capital market in a familiar pattern - reverse mergers and acquisitions of a US listed company, backdoor listing. Backdoor listing, here refers to reverse mergers and acquisitions. This means that a shareholder of a non-listed company controls the company by acquiring the shares of a shell company (a listed company), and the reverse merger of the non-listed company’s assets and businesses makes it a public company