Uber China listing in China Industry legal work

Rumors of Uber China plans IPO in the country, Wen Wu said law firm partner, Uber on conception in mainland China or Hong Kong has great ideas, but in mainland China and Hong Kong under the framework of almost impossible. Robots do in radish is too hot why do education

Wu believes that first seen from the listed conditions, China's Mainland and China's Hong Kong stock market has sustained profitability requirements, Uber China mentioned in the materials provided to investors, Uber China plans over the next 3 years, losing more than $ 1 billion a year, regardless of profit in 3 years, it is impossible to meet the requirements of sustainable profitability. If you can only ban Hong Kong, considered China's new growth enterprise market, but both markets are currently unable to meet the financing needs of the Uber.

Second, on Uber of independence problem, China legal requirements listed subject independent, including financial independent, and personnel independent, and institutions independent, aspects, given Uber headquarters and Uber China Zhijian of associated relationship, multi investment institutions intervention Hou of Uber China, its actual control people will faced identity unknown of problem, and its management layer independence problem, and its corporate governance independent problem, are may exists serious obstacles. Uber control system of Chinese people should be Uber Travis, founder, shareholder, China is still Uber, or a strong capital, these are not yet clear, which may be lethal in the listed criteria, may constitute a substantial obstacle.

Third, the telecommunications regulation from the Chinese mainland, mainland China Telecom business to implement stricter access system, with local companies, Uber company has not access to ICP business license, this will obviously become a barrier to their mainland operations going.

Finally, with regard to VIE on schema issues, while China could gradually open VIE structure, as the Internet company released precedent for listing, but this entirely by foreign companies, foreign capital is a leading company in China does not wish to encourage Internet companies as well. From a practical viewpoint, this way of foreign companies in China to set up subsidiaries, branches, and have never had a precedent for listing in China.