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Opportunities and Challenges for Chinese Companies Listed in the US Post US Sanctions

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Opportunities and Challenges for Chinese Companies Listed in the US and Their Investors under Current Environment

Since March 2022, more than 100 Chinese concept stocks have faced the risk of delisting or pre-delisting in the U.S. securities market. Recently, regardless of the implementation rules of the “Foreign Company Accountability Act” of the U.S. Securities Regulatory Commission, or the “Regulations on Strengthening the Confidentiality and File Management Work Related to the Overseas Issuance and Listing of Securities by Domestic Enterprises (Draft for Comment)” of the China Securities Regulatory Commission (CSRC), there have been continuous regulations and policies.

Should Chinese companies remain listed or delisted in the U.S.? Or should they be looking for relisting elsewhere? Is listing in the U.S. still worth considering? How can companies solve the dilemma? How can investors protect their interests? The evaluation, investigation, financing and restructuring experts from Kroll China will interpret the current situation from different angles and discuss coping strategies and solutions.

This session will be conducted in Mandarin.

Our panelists will discuss the following topics

  • Latest development of discussion between PCAOB and CSRC and what are the implications to the Chinese companies listed in the US
  • What strategic options that board of director can consider if PCAOB and CSRC cannot reach consensus (e.g. delisting and then relisting in Hong Kong, M&A etc.)?
  • What are procedures that the boards have to carry out to fulfill their fiduciary duty and manage legal risks?
  • What are the strategic options that existing investors can consider?
  • Why financial distress (operation mismanagement and/or poor corporate governance and compliance) can lead to delisting risks?
  • How can corporate restructuring assist Chinese companies listed on the U.S. exchanges to overcome challenges in the current difficult market situations?
  • How to protect the listed companies from winding up petitions? And work with institutional creditors?
  • How to protect investors? What strategic options for investors of listed Chinese American Depositary Receipts (ADR) or bond holders in financial distress during the process of being delisted?
  • What are the potential opportunities for new investors?

 

Panelists

  • Kevin Leung, Managing Director, Valuation Advisory Services
  • Kevin Song, Managing Director, Restructuring
  • Serene Shi, Managing Director, Corporate Finance
  • Calvin Dong, Associate Managing Director, Forensic Investigations and Intelligence

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