Accumulation of Capital: Cases of Fundraising by Chinese Listed Companies

Author: Zou Li
Publisher:
Publish Date: 2006-05-01
Features: "Financial Director Series #8226; Listed Company Case Series" is a sub-series of the "Financial Director Series," consisting of the following six books: "The Mystery of Numbers—Financial Analysis Cases of Chinese Listed Companies," "The Accumulation of Funds—Capital Raising Cases of Chinese Listed Companies," "The Distribution of Interests—Dividend Distribution Cases of Chinese Listed Companies," "The Effect of Mergers and Acquisitions—Asset Restructuring Cases of Chinese Listed Companies," "Lessons from Failure—Financial Failure Cases of Chinese Listed Companies," and "The Cost of Violations—Fraud Cases of Chinese Listed Companies." The features can be summarized as: 1. All cases are derived from the practical experience of Chinese listed companies, with concentrated and novel material closely related to China's reality. They include both successful experiences and lessons from failures. Whether successful or unsuccessful, these cases provide practical inspiration and guidance for corporate financial managers. 2. Each case provides a detailed description of the situation, followed by in-depth qualitative and quantitative analysis. Highlighted comments are included during the introduction and analysis of the case, and a theoretical summary that connects to practice is provided at the end of each case. 3. The selection of cases is both systematic and thematic, with a focus on specific issues. Systematically, the six books in this series cover the main content of financial management as comprehensively as possible. Thematic-wise, each book focuses on a specific aspect of financial management. Capital comes from the accumulation of funds and is the prerequisite and foundation for a company's existence. A company is established and exists because of capital, and capital uses the company as a means and path for its appreciation. Due to this inseparable relationship between capital and the company, questions such as where capital comes from, how to sustain it, and how to coordinate it become issues that companies must seriously consider and address. Listed companies skilled in the capital markets use this ever-changing stage to interpret these questions in various ways. Based on extensive data collection and research, this book roughly divides a company's sources of funds into three parts: internal financing, debt financing, and equity financing, each of which selects some typical cases for illustration. The book uses multiple cases to explain the issue of capital accumulation from different perspectives of listed companies. While focusing on capital accumulation methods, it also touches on topics such as integrated listings, the financing characteristics of private enterprises, and strategic alignment. The content is rich, the structure is logical, and it provokes deep reflection. In terms of case selection, it primarily focuses on listed companies in the domestic capital market, with some coverage of overseas listings. In terms of case content, it includes both common financing methods such as bond issuance, rights offerings, and additional offerings, as well as more specialized methods like convertible bonds, along with comprehensive multi-channel financing cases. In terms of case commentary, it includes both comprehensive summaries at the end of cases and insightful comments that run throughout the cases.