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非上市股本融资的方式日益普遍,且发展迅速,内地企业正好籍此融资方式筹集资金,拓展市场,以期在数年后迈向股份上市的目标。本文分析非上市股本融资的内涵,剖析非上市股本融资在近几年的特点,包括它的资本来源与出路、管理者的投资策略,并讨论目前内地企业在融资方面的错觉与解决方法。分析非上市股本融资对内地企业发展的好处,探讨内地企业采用非上市股本融资方式无论在程序简化、发展灵活与领导意识改进等好处。分析内地企业吸纳非上市股本面对的五项挑战,并就各项挑战提供回应的方法。分析香港在非上市股本融资与内地企业的发展上扮演的角色,讨论香港在融资市场方面的优势,并为内地企业在非上市股本融资上所扮演的角色。
The ways of financing of unlisted equity capital are becoming more and more commonplace and are developing rapidly. Mainland enterprises just took this means of financing to raise funds and expand their markets with a view to moving towards the listing of shares in a few years. This article analyzes the connotation of unlisted equity financing, analyzes the characteristics of unlisted equity financing in recent years, including its sources of capital and outlets, managers’ investment strategies, and discusses the current misconceptions and solutions of financing in the Mainland. This paper analyzes the benefits of non-listed equity financing for the development of enterprises in the Mainland and discusses the benefits of using non-listed equity financing for Mainland enterprises in terms of streamlining procedures, developing flexibility and improving leadership awareness. Analyze the five challenges China’s enterprises face when it comes to attracting unlisted equity and provide responses to various challenges. Analyze Hong Kong’s role in the financing of unlisted equity and the development of Mainland enterprises. Discuss Hong Kong’s advantages in the financing market and its role in financing non-listed equity for Mainland enterprises.