美国上市以及投资顾问OTCBB.ppt

1、,Realizing Shareholder Goals,实现股东目标,君悦资本-美国上市总顾问,China - U.S. Transactions 中美间的投资活动,A US Expert on Your Team,我们作为您团队中的美国专家, Achieving Successful Outcomes 助您达到成功 Minimizing Risks 将风险降到最低, Finding the best Capital Markets Advice获得有关美国,资本市场的最优秀的顾问服务, Independent evaluation of proposals and ideas 对各种,投资

2、建议和想法提供独立的专业评估,君悦产业基金,Key Services to Chinese Businesses 对中国私营公司的关键服务, Family Business Planning/Strategy 家族企业的战略策划 Intergenerational Planning “IR Strategy Series-Navigating the Waters of China Reverse Mergers” CCG Asia,君悦产业基金,26,Reverse Mergers (Cont.) 反向收购,Characters 反向收购的特点, ,Deal is priced at the

3、 beginning of the transaction and money is injected at closing 交易价格在开始阶段决定；资金在交易完成时注 入。 IPO could be withdrawn after upfront costs have been expended 同相比，有可能花了大量前期费用但仍不能成功。 No underwriter is involved 不需要承销商参与 Separate going public process from raising capital process 上市和 融资程序分开,君悦产业基金,27,Reverse Mer

4、gers (Cont.) 反向收购,Potential Disadvantages 潜在的劣势, ,No Wall Street Research Support 没有华尔街的研究支持 No Wall Street Trading Support 没有华尔街的交易支持 Often the Reverse Merger company has a small market value (under $100 million) and many investors wont invest in such companies 通常反向并购上市的公司的市值很小，在1亿美元以下 ，很多投资者不会投资这样

5、的公司。 The company really lacks the benefits of being public but still has all the costs 这类公司缺少上市的好处但仍承担所有的费用,君悦产业基金,28,Reverse Mergers (Cont.) 反向收购,Process and Timeline 过程和时间表, ,Assemble a team 组成团队 Locate a publicly traded shell company 找到上市的壳公司, ,Pink Sheets Company vs. OTCBB Company SEC Reporting

6、Company vs. Non-SEC Reporting Company Price US $200,000 to US $600,000 Perform due diligence, ,Letter of intent with public shell company 向上市的壳公司递交意向 书 Enter into share exchange agreement 达成股票交换协议 Prepare audited financial statements 准备经审计的财务报表,The financial statements must be audited by PCAOB-regis

7、tered accountant 财务报表必须要经过PCAOB 注册的会计师事务所, ,Close the share exchange完成股份交换 Make appropriate SEC filings 进行SEC要求的各项申报,君悦产业基金,29,Reverse Mergers (Cont.) 反向收购 After the Transaction 交易后的策略 Develop and implement a strategy策略的制定和实施, ,Create liquidity for the companys stock 为公司的股票创造 流动性 Raise capital 融资 Pr

8、ovide long-term value and market support for the companys stock 为公司的股票提供长期的价值和市场支持, Key elements 要素, ,Identify market makers 找好造市商 Establish relationships with institutional investors 和机构投 资人建立良好的关系 Establish a format to communicate the companys financial success 找到沟通有关公司财务成功的方式,君悦产业基金,30,Current SE

9、C Investigations 目前SEC对中国某些上市公司的调查 There have been allegations that American investors have suffered losses in excess of $34 billion because of stock fraud 有指控称和中 国上市公司相关的股票欺诈已经使美国投资人蒙受340亿美元的损失 SEC is investigating several China-based reverse merger companies 美国SEC集中调查多家有中国背景的 通过反向并购而上 市的公司 Quite a few Chinese listed companies in trouble 多家如此上市的中 国公司处境艰难,Examples:, ,Bodisen Biotech: traded $20 per share in 2006, now $0.50 Fuwei F