一、“以股抵债”经济业务性质的特殊性“以股抵债”是指上市公司以其控股股东(母公司)“侵占”资金作为对价,冲减控股股东持有的上市公司股份,被冲减股份依法注销。“以股抵债”为解决缺乏现金清偿能力的控股东占用上市公司资金的问题提供了现实选择的途径。对上市公司来说,“ I. The particularity of the nature of the business of “debt-for-equity financing” “Debt-backed by stocks” means that the listed company, taking the “encroachment” funds of its controlling shareholder (parent company) as the consideration, offsetting the shares of the listed company held by its controlling shareholder and being punished Less shares canceled according to law. “Debt-to-equity” provides a realistic alternative for controlling the controlling shareholder's lack of cash liquidity to take over the capital of listed companies. For listed companies, "