china-merger-model
Installation
SKILL.md
china-merger-model
Purpose
Build A股并购分析模型, analyzing accretion/dilution, synergy capture, and purchase price allocation for M&A transactions involving Chinese companies.
Key Differences from US Merger Models
| Parameter | US M&A Model | China M&A Model |
|---|---|---|
| Accounting | US GAAP / IFRS | CAS (企业会计准则) |
| Tax rate | 21% | 25% (or 15% for 高新技术企业) |
| Currency | USD | CNY |
| Goodwill | Indefinite life | Amortized or tested under CAS |
| Stamp duty | Negligible | 0.05% on equity transfer |
| VAT on asset deals | Varies | 6% or 3% depending on 纳税人类型 |
| Deal structure | Stock/cash common | 股权/资产/吸收合并 |
| Premium | 20-30% typical | 20-40% typical for China |