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H股公司是指根据中国《公司法》在中国内地设立,并在香港联交所上市的股份有限公司。在1997年10月以来的亚洲金融风暴中,H股公司在香港的股价长期处于低迷状态,不利于公司的发展及国有资产的保值。面对金融风暴,香港上市公司,包括红筹公司可以根据香港《公司条例》及香港联交所有关公司股份回购的有关规范,通过回购股份支持其股价,以避免股价因市场因素的影响而不合理地低廉。与之相比较,H股公司因受中国《公司法》及有关证券法律、法规的限制,不能及时回购股份,痛失良机,因此
H-share company refers to a company limited by shares established in Mainland China under the Company Law of China and listed on the Hong Kong Stock Exchange. During the Asian financial turmoil since October 1997, the share prices of H-share companies in Hong Kong have been in a downturn for a long time, which is detrimental to the development of the company and the preservation of state-owned assets. In the face of the financial turmoil, listed companies in Hong Kong, including red-chip companies, may, in accordance with the relevant provisions of the Hong Kong Companies Ordinance and the Hong Kong Stock Exchange’s share repurchase agreements, repurchase their shares to replenish their shares so as to avoid any impact on the share prices due to market forces Unreasonably low. In contrast, due to the restrictions imposed by the PRC Company Law and the relevant securities laws and regulations, H-share companies can not repurchase shares promptly and thus lose their opportunities. Therefore,