Abstract

Since the 21st century, China's economy has shown a medium-rapid development trend. To be specific, a large amounts of enterprises have chosen the financing strategy of dual listing in the Chinese market and the international capital market in the development and development process of China's capital market. As a matter of fact, with different trading mechanisms and valuation strategies everywhere, the share price of the same company in different markets is also biased. On this basis, in order to explore this phenomenon, this study selects Tsingtao Beer, the first local Chinese enterprise listed in the A-share market and H-share market in the A-share market, as the research object. The aim is to systematically evaluate the enterprise through the cash flow discount method. According to the analysis, this study compares and analyzes the reasons behind the stock price difference, and gives investors more scientific theoretical investment suggestions. Overall, these results shed light on guiding further exploration regarding to dual listing investment analysis.

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