译 名：QiumingSoftware: The Predicament of Losing Corporate Control Brought by Equity Changes
案例作者：牟晖、欧阳桃花、邢洁
作者单位：北京航空航天大学
所在案例库：中国金融专业学位案例中心
案例链接：http://www.pdf.org.cn/homepage/excellent/49
中文摘要：上市融资是许多高科技企业募集资金和获取投资回报的重要途径，但是在筹备上 市的过程中，容易目标迷失、急功近利而功亏一篑。本案例所述的秋明软件股份有限公司，是一家专业从事软件与信息技术服务的高科技企业。公司以筹备上市为目标，进行了增资扩股、兼并收购、股权转让等多项资本运作，导致 股权结构数次发生变动，公司控制权多次转移，公司经营从生机勃勃陷入举步维艰的困境。从行业佼佼者，到几乎资不抵债，是什么原因导致了秋明软件的经营之困呢?
英文摘要：Listed financing is an important way to raise capital and obtain investment returns for many high-tech enterprises. However, corporate may easily fail during such process, due to the dilution of objectives and the craving for instant success. Qiuming Software Inc. is a high-tech company specialized in software development and information technology service. In order to get listed, the company conducted capital increase, mergers and acquisitions, and equity replacement, leading to change of ownership structure and the transfer of corporate control several times. Consequently, the previous leader of its industry were cornered to nearly insolvent. What cause the failure of Qiuming Software Inc.?
中文关键词：股权结构、控制权、公司治理、高科技企业
英文关键词：Equity structure，Control，Corporate governance，High-tech Enterprises
案例入库时间：2016-06
