Focusing on the global capital layout – the 2025 Capital Event on “Chinese Enterprises’ Capitalization and Listing Paths in the United States” was successfully held

Introduction

Against the backdrop of the deep integration of the global economy and the accelerated evolution of the capital market, how Chinese companies can achieve cross-border financing and effectively enter the international capital market has become an important topic of concern.

On April 25, the “2025 Chinese Enterprises’ Capitalization and Asset Allocation Path to the United States” capital event co-organized by Fupeng International, Robinson & Cole, Han Kun Law Firm, and Harneys was successfully held in Shanghai. The event attracted extensive participation from investment banks, law firms, corporate executives and industrial capital representatives. The venue was packed and the atmosphere was warm.

The event focused on multiple dimensions such as regulatory trends, structural design, legal compliance and transaction practice in the path of capitalization in the United States, and deeply discussed the realistic challenges and strategic opportunities of Chinese companies going overseas under the current situation, helping companies clarify the direction of capital and grasp the key nodes in the process of globalization.

1.Event Highlights

The event brought together authoritative guests from different fields, who deeply analyzed the current status and trends of Chinese companies’ capitalization in the U.S. from multiple perspectives. Representatives from professional institutions such as U.S. investment banks and law firms shared their rich experience and insights in serving Chinese companies in the process of listing in the U.S.

Mr. Alvin Wang Zhuo, Managing Director of Fupeng International

Alvin first reviewed the dynamic changes in the US capital market since 2021, and deeply interpreted the choice logic of Chinese companies in the IPO and SPAC listing paths. He pointed out that despite the uncertainty of the global macro-economy, the demand for Chinese companies to go overseas is still strong. The key lies in how to establish the correct strategic path and compliance structure. He emphasized that Fupeng International, as one of the few cross-border investment banks that can complete the “double filing of China and the United States”, has always been committed to providing customized solutions for enterprises, shortening the transaction cycle, and improving the certainty of listing.

Ms. Arila Zhou, partner of Robinson & Cole LLP, USA

Ms. Zhou shared the latest developments of US IPO and SPAC listing. From a practical perspective, she analyzed the threshold requirements and practical procedures of the current US IPO and SPAC dual paths. She analyzed in detail the impact of the latest SEC disclosure rules on the preparation of listing materials for enterprises, and pointed out that in the context of increasing thresholds and stricter supervision, it is particularly important for enterprises to plan early and avoid stepping on mines.

Ms. Zhang Zhao, Beijing Han Kun Law Firm
Ms. Zhang Zhao, with her rich experience in overseas listing projects, systematically explained the policy trends and typical cases of the “Overseas Listing Registration Management Measures” since its implementation one year ago. She pointed out that the current regulatory logic pays more attention to “penetrating compliance” and that companies need to build a compliant and sustainable architecture foundation. She also suggested introducing a legal team in the early stages of strategic decision-making to jointly control process risks.

Harneys LLP Ms. Xu Wenjie

Ms. Xu Wenjie gave an in-depth interpretation of the offensive and defensive strategies of Cayman and BVI structures in the process of Chinese companies going public in the United States, and provided practical suggestions on key issues such as employee stock ownership (ESOP) design and penetrating review response. She emphasized that the offshore legal team has irreplaceable strategic value in terms of structure design, cross-border investment and financing structure construction, and regulatory penetration compliance.

Lewis Silberman, Managing Director of Kingswood, USA, connected with the participants on the spot

In addition, the last mysterious guest session was even more exciting, with Lewis Silberman, Managing Director of Kingswood, USA, connected on the spot. The guests shared their views on key issues in the process of listing on the US stock market, involving hot topics such as the path to listing on the US stock market, the company’s pre-listing preparations, and the maintenance and improvement of the company’s market value after listing. Through in-depth exchanges and collisions of ideas, the participants had a deeper understanding of the complexity and importance of capitalization in the United States.

2.Resonance of thoughts and collision of opinions

This forum not only focused on the answers and analysis of practical problems, but also reflected the value of cross-border collaboration and in-depth co-creation——

The guests at the conference generally believed that the current period is a “window period within the window period”. Although there are many challenges, it is a critical moment for high-quality companies to cross the cycle and strengthen their global capital capabilities.

The atmosphere of the on-site Q&A session was lively. Participants had in-depth interactions with guests on topics such as “How to determine whether you are suitable for SPAC listing” and “How to deal with bilateral regulatory reviews between China and the United States”, and the exchanges of ideas were brilliant.

The tea break exchanges and intention matching sessions after the meeting facilitated a number of collaborations and built an efficient resource linkage bridge for Chinese companies.

3.Looking to the future: Let Chinese companies’ capital go overseas more steadily and further

The successful holding of the “Capitalization and Listing Path in the United States” forum is not only a high-quality knowledge sharing and experience transfer, but also a practical exercise of cross-border resource linkage and cooperation promotion.

Standing at the time node of 2025, Chinese companies are facing new opportunities for capital globalization and new challenges of regulatory policies. How to find the right position in the changing situation and build a more stable compliance system in a market with increasingly transparent supervision will become the key to determining the success or failure of going overseas.

In the future, Fupeng International will continue to work with the world’s leading professional institutions to provide Chinese companies with more forward-looking and practical investment banking services, and witness the rise and glory of Chinese companies in the global capital market!