Research on Share Flotation in Hong Kong Stock Market for Enterprises in Mainland China -- Shanghai Petrochemical Company Limited

• Main Authors: Ko Chih-Jen, 柯智仁
• Other Authors: Fahn Jiin-Ming
• Format: Others
• Language: zh-TW
• Published: 1999
• Online Access: http://ndltd.ncl.edu.tw/handle/30436025406402925122

碩士 === 淡江大學 === 大陸研究所 === 87 === In recent years, the articles discussing about share flotation in Hong Kong stock market for enterprises in Mainland China are getting more. However, almost all of these papers emphasize on the growing process of an enterprise; less discusses about real case study. In this paper, we choose Shanghai Petrochemical Company Limited as an example. By observing this case, we want to know what are the effects on capital use, financial ratio, and business administration after sharing flotation in Hong Kong stock market for the enterprises in Mainland China. Besides, by observing the flotation experience of Shanghai Petrochemical Co., we want to know how it can help for other enterprises. This paper adopt three kinds of methods to study on the topic: historical method, financial statement analysis method, and secondary source method. This means that we will analysis this question from the developing process of Shanghai Petrochemical Co. based on its opened financial statement and secondary source We conclude the research results in the following: 1. As for the capital use. In 1993, Shanghai Petrochemical Co. has many capital resources. Share flotation in Hong Kong stock market is not used as prearranged, but the plans are finished on schedule. 2. As for the financial ratio. Share flotation in Hong Kong stock market is only one of the reasons that improves the company financial ratio. This means that financial ratio improvement depends on the flotation amount and other financial item (for example, loan) at the same year. 3. As for the business administration. The share flotation in Hong Kong stock market will change the company business, but the major changes are caused by other factors (such as demand and supply and the leader's thought). 4. As for its experience in flotation. The major help for other enterprises in Mainland China is the methods to solve the problems.