id	sid	tid	token	lemma	pos
fbem-13214	1	1	frontiers	frontier	NOUN
fbem-13214	1	2	in	in	ADP
fbem-13214	1	3	business	business	NOUN
fbem-13214	1	4	,	,	PUNCT
fbem-13214	1	5	economics	economic	NOUN
fbem-13214	1	6	and	and	CCONJ
fbem-13214	1	7	management	management	NOUN
fbem-13214	1	8	issn	issn	PROPN
fbem-13214	1	9	:	:	PUNCT
fbem-13214	1	10	2766	2766	NUM
fbem-13214	1	11	-	-	PUNCT
fbem-13214	1	12	824x	824x	NUM
fbem-13214	1	13	|	|	ADJ
fbem-13214	1	14	vol	vol	NOUN
fbem-13214	1	15	.	.	PUNCT
fbem-13214	2	1	11	11	NUM
fbem-13214	2	2	,	,	PUNCT
fbem-13214	2	3	no	no	INTJ
fbem-13214	2	4	.	.	NOUN
fbem-13214	2	5	3	3	NUM
fbem-13214	2	6	,	,	PUNCT
fbem-13214	2	7	2023	2023	NUM
fbem-13214	2	8	190	190	NUM
fbem-13214	2	9	three	three	NUM
fbem-13214	2	10	operational	operational	ADJ
fbem-13214	2	11	modes	mode	NOUN
fbem-13214	2	12	of	of	ADP
fbem-13214	2	13	back‐door	back‐door	ADV
fbem-13214	2	14	listing	list	VERB
fbem-13214	2	15	in	in	ADP
fbem-13214	2	16	china	china	PROPN
fbem-13214	2	17	chaoqun	chaoqun	PROPN
fbem-13214	2	18	song1	song1	PROPN
fbem-13214	2	19	,	,	PUNCT
fbem-13214	2	20	a	a	DET
fbem-13214	2	21	1bimba	1bimba	NUM
fbem-13214	2	22	business	business	NOUN
fbem-13214	2	23	school	school	NOUN
fbem-13214	2	24	,	,	PUNCT
fbem-13214	2	25	nsd	nsd	PROPN
fbem-13214	2	26	,	,	PUNCT
fbem-13214	2	27	peking	peking	NOUN
fbem-13214	2	28	university	university	NOUN
fbem-13214	2	29	,	,	PUNCT
fbem-13214	2	30	100091	100091	NUM
fbem-13214	2	31	,	,	PUNCT
fbem-13214	2	32	china	china	PROPN
fbem-13214	2	33	asongchaoqun2018@bimba.pku.edu.cn	asongchaoqun2018@bimba.pku.edu.cn	PROPN
fbem-13214	2	34	abstract	abstract	PROPN
fbem-13214	2	35	:	:	PUNCT
fbem-13214	2	36	backdoor	backdoor	NOUN
fbem-13214	2	37	listing	list	VERB
fbem-13214	2	38	refers	refer	VERB
fbem-13214	2	39	to	to	ADP
fbem-13214	2	40	a	a	DET
fbem-13214	2	41	transaction	transaction	NOUN
fbem-13214	2	42	in	in	ADP
fbem-13214	2	43	which	which	PRON
fbem-13214	2	44	an	an	DET
fbem-13214	2	45	acquiring	acquire	VERB
fbem-13214	2	46	company	company	NOUN
fbem-13214	2	47	purchases	purchase	VERB
fbem-13214	2	48	a	a	DET
fbem-13214	2	49	listed	list	VERB
fbem-13214	2	50	company	company	NOUN
fbem-13214	2	51	and	and	CCONJ
fbem-13214	2	52	changes	change	VERB
fbem-13214	2	53	its	its	PRON
fbem-13214	2	54	main	main	ADJ
fbem-13214	2	55	business	business	NOUN
fbem-13214	2	56	.	.	PUNCT
fbem-13214	3	1	this	this	DET
fbem-13214	3	2	paper	paper	NOUN
fbem-13214	3	3	provides	provide	VERB
fbem-13214	3	4	a	a	DET
fbem-13214	3	5	comparative	comparative	ADJ
fbem-13214	3	6	analysis	analysis	NOUN
fbem-13214	3	7	of	of	ADP
fbem-13214	3	8	the	the	DET
fbem-13214	3	9	three	three	NUM
fbem-13214	3	10	operation	operation	NOUN
fbem-13214	3	11	modes	mode	NOUN
fbem-13214	3	12	for	for	ADP
fbem-13214	3	13	backdoor	backdoor	NOUN
fbem-13214	3	14	listing	list	VERB
fbem-13214	3	15	in	in	ADP
fbem-13214	3	16	china	china	PROPN
fbem-13214	3	17	:	:	PUNCT
fbem-13214	3	18	reverse	reverse	ADJ
fbem-13214	3	19	acquisition	acquisition	NOUN
fbem-13214	3	20	,	,	PUNCT
fbem-13214	3	21	agreement	agreement	NOUN
fbem-13214	3	22	acquisition	acquisition	NOUN
fbem-13214	3	23	,	,	PUNCT
fbem-13214	3	24	and	and	CCONJ
fbem-13214	3	25	three	three	NUM
fbem-13214	3	26	-	-	PUNCT
fbem-13214	3	27	party	party	NOUN
fbem-13214	3	28	cooperative	cooperative	ADJ
fbem-13214	3	29	acquisition	acquisition	NOUN
fbem-13214	3	30	.	.	PUNCT
fbem-13214	4	1	it	it	PRON
fbem-13214	4	2	discusses	discuss	VERB
fbem-13214	4	3	the	the	DET
fbem-13214	4	4	advantages	advantage	NOUN
fbem-13214	4	5	,	,	PUNCT
fbem-13214	4	6	disadvantages	disadvantage	NOUN
fbem-13214	4	7	,	,	PUNCT
fbem-13214	4	8	transaction	transaction	NOUN
fbem-13214	4	9	structure	structure	NOUN
fbem-13214	4	10	and	and	CCONJ
fbem-13214	4	11	compliance	compliance	NOUN
fbem-13214	4	12	with	with	ADP
fbem-13214	4	13	the	the	DET
fbem-13214	4	14	backdoor	backdoor	NOUN
fbem-13214	4	15	listing	list	VERB
fbem-13214	4	16	criteria	criterion	NOUN
fbem-13214	4	17	defined	define	VERB
fbem-13214	4	18	by	by	ADP
fbem-13214	4	19	the	the	DET
fbem-13214	4	20	china	china	PROPN
fbem-13214	4	21	securities	securities	PROPN
fbem-13214	4	22	regulatory	regulatory	PROPN
fbem-13214	4	23	commission	commission	PROPN
fbem-13214	4	24	(	(	PUNCT
fbem-13214	4	25	csrc	csrc	PROPN
fbem-13214	4	26	)	)	PUNCT
fbem-13214	4	27	.	.	PUNCT
fbem-13214	5	1	the	the	DET
fbem-13214	5	2	acquirer	acquirer	NOUN
fbem-13214	5	3	should	should	AUX
fbem-13214	5	4	consider	consider	VERB
fbem-13214	5	5	the	the	DET
fbem-13214	5	6	risks	risk	NOUN
fbem-13214	5	7	and	and	CCONJ
fbem-13214	5	8	benefits	benefit	NOUN
fbem-13214	5	9	of	of	ADP
fbem-13214	5	10	each	each	DET
fbem-13214	5	11	mode	mode	NOUN
fbem-13214	5	12	based	base	VERB
fbem-13214	5	13	on	on	ADP
fbem-13214	5	14	relevant	relevant	ADJ
fbem-13214	5	15	legal	legal	ADJ
fbem-13214	5	16	provisions	provision	NOUN
fbem-13214	5	17	and	and	CCONJ
fbem-13214	5	18	regulations	regulation	NOUN
fbem-13214	5	19	.	.	PUNCT
fbem-13214	6	1	regulatory	regulatory	ADJ
fbem-13214	6	2	authorities	authority	NOUN
fbem-13214	6	3	,	,	PUNCT
fbem-13214	6	4	on	on	ADP
fbem-13214	6	5	the	the	DET
fbem-13214	6	6	other	other	ADJ
fbem-13214	6	7	hand	hand	NOUN
fbem-13214	6	8	,	,	PUNCT
fbem-13214	6	9	should	should	AUX
fbem-13214	6	10	use	use	VERB
fbem-13214	6	11	these	these	DET
fbem-13214	6	12	provisions	provision	NOUN
fbem-13214	6	13	and	and	CCONJ
fbem-13214	6	14	regulations	regulation	NOUN
fbem-13214	6	15	as	as	ADP
fbem-13214	6	16	screening	screen	VERB
fbem-13214	6	17	tools	tool	NOUN
fbem-13214	6	18	to	to	PART
fbem-13214	6	19	identify	identify	VERB
fbem-13214	6	20	transactions	transaction	NOUN
fbem-13214	6	21	that	that	PRON
fbem-13214	6	22	may	may	AUX
fbem-13214	6	23	pose	pose	VERB
fbem-13214	6	24	serious	serious	ADJ
fbem-13214	6	25	risks	risk	NOUN
fbem-13214	6	26	to	to	ADP
fbem-13214	6	27	the	the	DET
fbem-13214	6	28	capital	capital	NOUN
fbem-13214	6	29	market	market	NOUN
fbem-13214	6	30	.	.	PUNCT
fbem-13214	7	1	keywords	keyword	NOUN
fbem-13214	7	2	:	:	PUNCT
fbem-13214	7	3	back	back	ADJ
fbem-13214	7	4	-	-	PUNCT
fbem-13214	7	5	door	door	NOUN
fbem-13214	7	6	listing	listing	NOUN
fbem-13214	7	7	,	,	PUNCT
fbem-13214	7	8	reverse	reverse	ADJ
fbem-13214	7	9	acquisition	acquisition	NOUN
fbem-13214	7	10	,	,	PUNCT
fbem-13214	7	11	agreement	agreement	NOUN
fbem-13214	7	12	acquisition	acquisition	NOUN
fbem-13214	7	13	,	,	PUNCT
fbem-13214	7	14	three	three	NUM
fbem-13214	7	15	-	-	PUNCT
fbem-13214	7	16	party	party	NOUN
fbem-13214	7	17	cooperative	cooperative	ADJ
fbem-13214	7	18	acquisition	acquisition	NOUN
fbem-13214	7	19	.	.	PUNCT
fbem-13214	8	1	1	1	X
fbem-13214	8	2	.	.	X
fbem-13214	8	3	introduction	introduction	NOUN
fbem-13214	8	4	backdoor	backdoor	NOUN
fbem-13214	8	5	listing	listing	NOUN
fbem-13214	8	6	is	be	AUX
fbem-13214	8	7	also	also	ADV
fbem-13214	8	8	known	know	VERB
fbem-13214	8	9	as	as	ADP
fbem-13214	8	10	backdoor	backdoor	NOUN
fbem-13214	8	11	restructuring	restructuring	NOUN
fbem-13214	8	12	.	.	PUNCT
fbem-13214	9	1	the	the	DET
fbem-13214	9	2	process	process	NOUN
fbem-13214	9	3	of	of	ADP
fbem-13214	9	4	backdoor	backdoor	NOUN
fbem-13214	9	5	listing	listing	NOUN
fbem-13214	9	6	,	,	PUNCT
fbem-13214	9	7	also	also	ADV
fbem-13214	9	8	known	know	VERB
fbem-13214	9	9	as	as	ADP
fbem-13214	9	10	reverse	reverse	ADJ
fbem-13214	9	11	merger	merger	NOUN
fbem-13214	9	12	,	,	PUNCT
fbem-13214	9	13	refers	refer	VERB
fbem-13214	9	14	to	to	ADP
fbem-13214	9	15	a	a	DET
fbem-13214	9	16	transaction	transaction	NOUN
fbem-13214	9	17	in	in	ADP
fbem-13214	9	18	which	which	PRON
fbem-13214	9	19	the	the	DET
fbem-13214	9	20	acquirer	acquirer	NOUN
fbem-13214	9	21	purchases	purchase	VERB
fbem-13214	9	22	a	a	DET
fbem-13214	9	23	listed	list	VERB
fbem-13214	9	24	company	company	NOUN
fbem-13214	9	25	and	and	CCONJ
fbem-13214	9	26	changes	change	VERB
fbem-13214	9	27	its	its	PRON
fbem-13214	9	28	main	main	ADJ
fbem-13214	9	29	business	business	NOUN
fbem-13214	9	30	.	.	PUNCT
fbem-13214	10	1	to	to	PART
fbem-13214	10	2	determine	determine	VERB
fbem-13214	10	3	whether	whether	SCONJ
fbem-13214	10	4	a	a	DET
fbem-13214	10	5	transaction	transaction	NOUN
fbem-13214	10	6	qualifies	qualify	VERB
fbem-13214	10	7	as	as	ADP
fbem-13214	10	8	a	a	DET
fbem-13214	10	9	backdoor	backdoor	NOUN
fbem-13214	10	10	listing	list	VERB
fbem-13214	10	11	,	,	PUNCT
fbem-13214	10	12	two	two	NUM
fbem-13214	10	13	conditions	condition	NOUN
fbem-13214	10	14	must	must	AUX
fbem-13214	10	15	be	be	AUX
fbem-13214	10	16	met	meet	VERB
fbem-13214	10	17	simultaneously	simultaneously	ADV
fbem-13214	10	18	:	:	PUNCT
fbem-13214	10	19	a	a	DET
fbem-13214	10	20	change	change	NOUN
fbem-13214	10	21	in	in	ADP
fbem-13214	10	22	the	the	DET
fbem-13214	10	23	actual	actual	ADJ
fbem-13214	10	24	controller	controller	NOUN
fbem-13214	10	25	of	of	ADP
fbem-13214	10	26	the	the	DET
fbem-13214	10	27	listed	list	VERB
fbem-13214	10	28	company	company	NOUN
fbem-13214	10	29	,	,	PUNCT
fbem-13214	10	30	and	and	CCONJ
fbem-13214	10	31	change	change	NOUN
fbem-13214	10	32	in	in	ADP
fbem-13214	10	33	the	the	DET
fbem-13214	10	34	listed	list	VERB
fbem-13214	10	35	company	company	NOUN
fbem-13214	10	36	's	's	PART
fbem-13214	10	37	main	main	ADJ
fbem-13214	10	38	business	business	NOUN
fbem-13214	10	39	.	.	PUNCT
fbem-13214	11	1	the	the	DET
fbem-13214	11	2	change	change	NOUN
fbem-13214	11	3	in	in	ADP
fbem-13214	11	4	main	main	ADJ
fbem-13214	11	5	business	business	NOUN
fbem-13214	11	6	implies	imply	VERB
fbem-13214	11	7	a	a	DET
fbem-13214	11	8	significant	significant	ADJ
fbem-13214	11	9	asset	asset	NOUN
fbem-13214	11	10	restructuring	restructuring	NOUN
fbem-13214	11	11	of	of	ADP
fbem-13214	11	12	the	the	DET
fbem-13214	11	13	listed	list	VERB
fbem-13214	11	14	company	company	NOUN
fbem-13214	11	15	.	.	PUNCT
fbem-13214	12	1	backdoor	backdoor	NOUN
fbem-13214	12	2	listing	list	VERB
fbem-13214	12	3	needs	need	NOUN
fbem-13214	12	4	to	to	PART
fbem-13214	12	5	be	be	AUX
fbem-13214	12	6	evaluated	evaluate	VERB
fbem-13214	12	7	in	in	ADP
fbem-13214	12	8	accordance	accordance	NOUN
fbem-13214	12	9	with	with	ADP
fbem-13214	12	10	laws	law	NOUN
fbem-13214	12	11	and	and	CCONJ
fbem-13214	12	12	regulations	regulation	NOUN
fbem-13214	12	13	,	,	PUNCT
fbem-13214	12	14	including	include	VERB
fbem-13214	12	15	:	:	PUNCT
fbem-13214	12	16	firstly	firstly	ADV
fbem-13214	12	17	,	,	PUNCT
fbem-13214	12	18	the	the	DET
fbem-13214	12	19	change	change	NOUN
fbem-13214	12	20	in	in	ADP
fbem-13214	12	21	the	the	DET
fbem-13214	12	22	actual	actual	ADJ
fbem-13214	12	23	controller	controller	NOUN
fbem-13214	12	24	of	of	ADP
fbem-13214	12	25	the	the	DET
fbem-13214	12	26	listed	list	VERB
fbem-13214	12	27	company	company	NOUN
fbem-13214	12	28	,	,	PUNCT
fbem-13214	12	29	referencing	reference	VERB
fbem-13214	12	30	the	the	DET
fbem-13214	12	31	administrative	administrative	ADJ
fbem-13214	12	32	measures	measure	NOUN
fbem-13214	12	33	for	for	ADP
fbem-13214	12	34	acquisition	acquisition	NOUN
fbem-13214	12	35	of	of	ADP
fbem-13214	12	36	listed	list	VERB
fbem-13214	12	37	companies	company	NOUN
fbem-13214	12	38	(	(	PUNCT
fbem-13214	12	39	2020	2020	NUM
fbem-13214	12	40	amendment	amendment	NOUN
fbem-13214	12	41	)	)	PUNCT
fbem-13214	12	42	;	;	PUNCT
fbem-13214	12	43	and	and	CCONJ
fbem-13214	12	44	secondly	secondly	ADV
fbem-13214	12	45	,	,	PUNCT
fbem-13214	12	46	the	the	DET
fbem-13214	12	47	significant	significant	ADJ
fbem-13214	12	48	asset	asset	NOUN
fbem-13214	12	49	restructuring	restructuring	NOUN
fbem-13214	12	50	of	of	ADP
fbem-13214	12	51	the	the	DET
fbem-13214	12	52	listed	list	VERB
fbem-13214	12	53	company	company	NOUN
fbem-13214	12	54	,	,	PUNCT
fbem-13214	12	55	referencing	reference	VERB
fbem-13214	12	56	the	the	DET
fbem-13214	12	57	administrative	administrative	ADJ
fbem-13214	12	58	measures	measure	NOUN
fbem-13214	12	59	for	for	ADP
fbem-13214	12	60	significant	significant	ADJ
fbem-13214	12	61	asset	asset	NOUN
fbem-13214	12	62	restructuring	restructuring	NOUN
fbem-13214	12	63	of	of	ADP
fbem-13214	12	64	listed	list	VERB
fbem-13214	12	65	companies	company	NOUN
fbem-13214	12	66	(	(	PUNCT
fbem-13214	12	67	2020	2020	NUM
fbem-13214	12	68	amendment	amendment	NOUN
fbem-13214	12	69	)	)	PUNCT
fbem-13214	12	70	.	.	PUNCT
fbem-13214	13	1	to	to	PART
fbem-13214	13	2	determine	determine	VERB
fbem-13214	13	3	whether	whether	SCONJ
fbem-13214	13	4	there	there	PRON
fbem-13214	13	5	has	have	AUX
fbem-13214	13	6	been	be	AUX
fbem-13214	13	7	a	a	DET
fbem-13214	13	8	substantial	substantial	ADJ
fbem-13214	13	9	change	change	NOUN
fbem-13214	13	10	in	in	ADP
fbem-13214	13	11	the	the	DET
fbem-13214	13	12	actual	actual	ADJ
fbem-13214	13	13	controller	controller	NOUN
fbem-13214	13	14	of	of	ADP
fbem-13214	13	15	the	the	DET
fbem-13214	13	16	listed	list	VERB
fbem-13214	13	17	company	company	NOUN
fbem-13214	13	18	and	and	CCONJ
fbem-13214	13	19	a	a	DET
fbem-13214	13	20	significant	significant	ADJ
fbem-13214	13	21	asset	asset	NOUN
fbem-13214	13	22	restructuring	restructuring	NOUN
fbem-13214	13	23	,	,	PUNCT
fbem-13214	13	24	specific	specific	ADJ
fbem-13214	13	25	provisions	provision	NOUN
fbem-13214	13	26	in	in	ADP
fbem-13214	13	27	these	these	DET
fbem-13214	13	28	two	two	NUM
fbem-13214	13	29	laws	law	NOUN
fbem-13214	13	30	and	and	CCONJ
fbem-13214	13	31	regulations	regulation	NOUN
fbem-13214	13	32	need	need	VERB
fbem-13214	13	33	to	to	PART
fbem-13214	13	34	be	be	AUX
fbem-13214	13	35	analyzed	analyze	VERB
fbem-13214	13	36	.	.	PUNCT
fbem-13214	14	1	this	this	DET
fbem-13214	14	2	paper	paper	NOUN
fbem-13214	14	3	introduces	introduce	VERB
fbem-13214	14	4	three	three	NUM
fbem-13214	14	5	modes	mode	NOUN
fbem-13214	14	6	of	of	ADP
fbem-13214	14	7	operation	operation	NOUN
fbem-13214	14	8	for	for	ADP
fbem-13214	14	9	backdoor	backdoor	NOUN
fbem-13214	14	10	listing	list	VERB
fbem-13214	14	11	in	in	ADP
fbem-13214	14	12	china	china	PROPN
fbem-13214	14	13	:	:	PUNCT
fbem-13214	14	14	reverse	reverse	ADJ
fbem-13214	14	15	acquisition	acquisition	NOUN
fbem-13214	14	16	,	,	PUNCT
fbem-13214	14	17	agreement	agreement	NOUN
fbem-13214	14	18	acquisition	acquisition	NOUN
fbem-13214	14	19	,	,	PUNCT
fbem-13214	14	20	and	and	CCONJ
fbem-13214	14	21	three	three	NUM
fbem-13214	14	22	-	-	PUNCT
fbem-13214	14	23	party	party	NOUN
fbem-13214	14	24	cooperative	cooperative	ADJ
fbem-13214	14	25	acquisition	acquisition	NOUN
fbem-13214	14	26	.	.	PUNCT
fbem-13214	15	1	by	by	ADP
fbem-13214	15	2	analyzing	analyze	VERB
fbem-13214	15	3	the	the	DET
fbem-13214	15	4	definition	definition	NOUN
fbem-13214	15	5	,	,	PUNCT
fbem-13214	15	6	advantages	advantage	NOUN
fbem-13214	15	7	,	,	PUNCT
fbem-13214	15	8	disadvantages	disadvantage	NOUN
fbem-13214	15	9	,	,	PUNCT
fbem-13214	15	10	and	and	CCONJ
fbem-13214	15	11	transaction	transaction	NOUN
fbem-13214	15	12	structures	structure	NOUN
fbem-13214	15	13	of	of	ADP
fbem-13214	15	14	each	each	DET
fbem-13214	15	15	mode	mode	NOUN
fbem-13214	15	16	,	,	PUNCT
fbem-13214	15	17	this	this	DET
fbem-13214	15	18	paper	paper	NOUN
fbem-13214	15	19	assists	assist	VERB
fbem-13214	15	20	regulatory	regulatory	ADJ
fbem-13214	15	21	authorities	authority	NOUN
fbem-13214	15	22	in	in	ADP
fbem-13214	15	23	identifying	identify	VERB
fbem-13214	15	24	and	and	CCONJ
fbem-13214	15	25	preventing	prevent	VERB
fbem-13214	15	26	potential	potential	ADJ
fbem-13214	15	27	risks	risk	NOUN
fbem-13214	15	28	to	to	ADP
fbem-13214	15	29	the	the	DET
fbem-13214	15	30	chinese	chinese	ADJ
fbem-13214	15	31	capital	capital	NOUN
fbem-13214	15	32	market	market	NOUN
fbem-13214	15	33	during	during	ADP
fbem-13214	15	34	the	the	DET
fbem-13214	15	35	supervision	supervision	NOUN
fbem-13214	15	36	process	process	NOUN
fbem-13214	15	37	.	.	PUNCT
fbem-13214	16	1	2	2	X
fbem-13214	16	2	.	.	X
fbem-13214	16	3	mode	mode	NOUN
fbem-13214	16	4	1	1	NUM
fbem-13214	16	5	:	:	PUNCT
fbem-13214	16	6	reverse	reverse	VERB
fbem-13214	16	7	acquisition	acquisition	NOUN
fbem-13214	16	8	2.1	2.1	NUM
fbem-13214	16	9	.	.	PUNCT
fbem-13214	17	1	definition	definition	NOUN
fbem-13214	17	2	reverse	reverse	NOUN
fbem-13214	17	3	acquisition	acquisition	NOUN
fbem-13214	17	4	refers	refer	VERB
fbem-13214	17	5	to	to	ADP
fbem-13214	17	6	the	the	DET
fbem-13214	17	7	process	process	NOUN
fbem-13214	17	8	in	in	ADP
fbem-13214	17	9	which	which	PRON
fbem-13214	17	10	the	the	DET
fbem-13214	17	11	target	target	NOUN
fbem-13214	17	12	company	company	NOUN
fbem-13214	17	13	,	,	PUNCT
fbem-13214	17	14	which	which	PRON
fbem-13214	17	15	is	be	AUX
fbem-13214	17	16	to	to	PART
fbem-13214	17	17	be	be	AUX
fbem-13214	17	18	acquired	acquire	VERB
fbem-13214	17	19	,	,	PUNCT
fbem-13214	17	20	is	be	AUX
fbem-13214	17	21	first	first	ADV
fbem-13214	17	22	acquired	acquire	VERB
fbem-13214	17	23	by	by	ADP
fbem-13214	17	24	the	the	DET
fbem-13214	17	25	listed	list	VERB
fbem-13214	17	26	company	company	NOUN
fbem-13214	17	27	through	through	ADP
fbem-13214	17	28	private	private	ADJ
fbem-13214	17	29	placement	placement	NOUN
fbem-13214	17	30	.	.	PUNCT
fbem-13214	18	1	after	after	SCONJ
fbem-13214	18	2	the	the	DET
fbem-13214	18	3	private	private	ADJ
fbem-13214	18	4	placement	placement	NOUN
fbem-13214	18	5	is	be	AUX
fbem-13214	18	6	approved	approve	VERB
fbem-13214	18	7	and	and	CCONJ
fbem-13214	18	8	the	the	DET
fbem-13214	18	9	funds	fund	NOUN
fbem-13214	18	10	are	be	AUX
fbem-13214	18	11	raised	raise	VERB
fbem-13214	18	12	,	,	PUNCT
fbem-13214	18	13	the	the	DET
fbem-13214	18	14	acquirer	acquirer	NOUN
fbem-13214	18	15	then	then	ADV
fbem-13214	18	16	purchases	purchase	VERB
fbem-13214	18	17	a	a	DET
fbem-13214	18	18	portion	portion	NOUN
fbem-13214	18	19	of	of	ADP
fbem-13214	18	20	the	the	DET
fbem-13214	18	21	shares	share	NOUN
fbem-13214	18	22	held	hold	VERB
fbem-13214	18	23	by	by	ADP
fbem-13214	18	24	the	the	DET
fbem-13214	18	25	major	major	ADJ
fbem-13214	18	26	shareholder	shareholder	NOUN
fbem-13214	18	27	of	of	ADP
fbem-13214	18	28	the	the	DET
fbem-13214	18	29	listed	list	VERB
fbem-13214	18	30	company	company	NOUN
fbem-13214	18	31	in	in	ADP
fbem-13214	18	32	the	the	DET
fbem-13214	18	33	form	form	NOUN
fbem-13214	18	34	of	of	ADP
fbem-13214	18	35	cash	cash	NOUN
fbem-13214	18	36	.	.	PUNCT
fbem-13214	19	1	2.2	2.2	NUM
fbem-13214	19	2	.	.	PUNCT
fbem-13214	19	3	advantages	advantage	NOUN
fbem-13214	19	4	after	after	SCONJ
fbem-13214	19	5	the	the	DET
fbem-13214	19	6	listed	list	VERB
fbem-13214	19	7	company	company	NOUN
fbem-13214	19	8	's	's	PART
fbem-13214	19	9	private	private	ADJ
fbem-13214	19	10	placement	placement	NOUN
fbem-13214	19	11	is	be	AUX
fbem-13214	19	12	approved	approve	VERB
fbem-13214	19	13	,	,	PUNCT
fbem-13214	19	14	the	the	DET
fbem-13214	19	15	acquirer	acquirer	NOUN
fbem-13214	19	16	initiates	initiate	VERB
fbem-13214	19	17	the	the	DET
fbem-13214	19	18	cash	cash	NOUN
fbem-13214	19	19	acquisition	acquisition	NOUN
fbem-13214	19	20	procedure	procedure	NOUN
fbem-13214	19	21	,	,	PUNCT
fbem-13214	19	22	making	make	VERB
fbem-13214	19	23	the	the	DET
fbem-13214	19	24	overall	overall	ADJ
fbem-13214	19	25	operation	operation	NOUN
fbem-13214	19	26	plan	plan	NOUN
fbem-13214	19	27	relatively	relatively	ADV
fbem-13214	19	28	secure	secure	ADJ
fbem-13214	19	29	.	.	PUNCT
fbem-13214	20	1	the	the	DET
fbem-13214	20	2	initial	initial	ADJ
fbem-13214	20	3	use	use	NOUN
fbem-13214	20	4	of	of	ADP
fbem-13214	20	5	the	the	DET
fbem-13214	20	6	acquirer	acquirer	NOUN
fbem-13214	20	7	's	's	PART
fbem-13214	20	8	own	own	ADJ
fbem-13214	20	9	funds	fund	NOUN
fbem-13214	20	10	is	be	AUX
fbem-13214	20	11	relatively	relatively	ADV
fbem-13214	20	12	small	small	ADJ
fbem-13214	20	13	.	.	PUNCT
fbem-13214	21	1	2.3	2.3	NUM
fbem-13214	21	2	.	.	PUNCT
fbem-13214	21	3	disadvantages	disadvantage	NOUN
fbem-13214	21	4	(	(	PUNCT
fbem-13214	21	5	1	1	NUM
fbem-13214	21	6	)	)	PUNCT
fbem-13214	21	7	long	long	ADJ
fbem-13214	21	8	operation	operation	NOUN
fbem-13214	21	9	cycle	cycle	NOUN
fbem-13214	21	10	,	,	PUNCT
fbem-13214	21	11	approximately	approximately	ADV
fbem-13214	21	12	12	12	NUM
fbem-13214	21	13	months	month	NOUN
fbem-13214	21	14	.	.	PUNCT
fbem-13214	22	1	(	(	PUNCT
fbem-13214	22	2	2	2	X
fbem-13214	22	3	)	)	PUNCT
fbem-13214	22	4	high	high	ADJ
fbem-13214	22	5	requirement	requirement	NOUN
fbem-13214	22	6	for	for	ADP
fbem-13214	22	7	the	the	DET
fbem-13214	22	8	professionalism	professionalism	NOUN
fbem-13214	22	9	and	and	CCONJ
fbem-13214	22	10	reliability	reliability	NOUN
fbem-13214	22	11	of	of	ADP
fbem-13214	22	12	the	the	DET
fbem-13214	22	13	financial	financial	ADJ
fbem-13214	22	14	advisory	advisory	ADJ
fbem-13214	22	15	team	team	NOUN
fbem-13214	22	16	.	.	PUNCT
fbem-13214	23	1	(	(	PUNCT
fbem-13214	23	2	3	3	X
fbem-13214	23	3	)	)	PUNCT
fbem-13214	23	4	requires	require	VERB
fbem-13214	23	5	high	high	ADJ
fbem-13214	23	6	cooperation	cooperation	NOUN
fbem-13214	23	7	from	from	ADP
fbem-13214	23	8	the	the	DET
fbem-13214	23	9	listed	list	VERB
fbem-13214	23	10	company	company	NOUN
fbem-13214	23	11	:	:	PUNCT
fbem-13214	23	12	the	the	DET
fbem-13214	23	13	acquirer	acquirer	NOUN
fbem-13214	23	14	can	can	AUX
fbem-13214	23	15	improve	improve	VERB
fbem-13214	23	16	the	the	DET
fbem-13214	23	17	cooperation	cooperation	NOUN
fbem-13214	23	18	level	level	NOUN
fbem-13214	23	19	of	of	ADP
fbem-13214	23	20	the	the	DET
fbem-13214	23	21	listed	list	VERB
fbem-13214	23	22	company	company	NOUN
fbem-13214	23	23	by	by	ADP
fbem-13214	23	24	paying	pay	VERB
fbem-13214	23	25	a	a	DET
fbem-13214	23	26	deposit	deposit	NOUN
fbem-13214	23	27	to	to	ADP
fbem-13214	23	28	the	the	DET
fbem-13214	23	29	major	major	ADJ
fbem-13214	23	30	shareholder	shareholder	NOUN
fbem-13214	23	31	in	in	ADP
fbem-13214	23	32	advance	advance	NOUN
fbem-13214	23	33	and	and	CCONJ
fbem-13214	23	34	providing	provide	VERB
fbem-13214	23	35	value	value	NOUN
fbem-13214	23	36	-	-	PUNCT
fbem-13214	23	37	added	add	VERB
fbem-13214	23	38	services	service	NOUN
fbem-13214	23	39	to	to	ADP
fbem-13214	23	40	the	the	DET
fbem-13214	23	41	listed	list	VERB
fbem-13214	23	42	company	company	NOUN
fbem-13214	23	43	.	.	PUNCT
fbem-13214	24	1	whether	whether	SCONJ
fbem-13214	24	2	it	it	PRON
fbem-13214	24	3	meets	meet	VERB
fbem-13214	24	4	the	the	DET
fbem-13214	24	5	criteria	criterion	NOUN
fbem-13214	24	6	for	for	ADP
fbem-13214	24	7	backdoor	backdoor	NOUN
fbem-13214	24	8	listing	list	VERB
fbem-13214	24	9	defined	define	VERB
fbem-13214	24	10	by	by	ADP
fbem-13214	24	11	the	the	DET
fbem-13214	24	12	china	china	PROPN
fbem-13214	24	13	securities	securities	PROPN
fbem-13214	24	14	regulatory	regulatory	PROPN
fbem-13214	24	15	commission	commission	PROPN
fbem-13214	24	16	(	(	PUNCT
fbem-13214	24	17	csrc	csrc	PROPN
fbem-13214	24	18	):	):	PUNCT
fbem-13214	24	19	it	it	PRON
fbem-13214	24	20	is	be	AUX
fbem-13214	24	21	possible	possible	ADJ
fbem-13214	24	22	.	.	PUNCT
fbem-13214	25	1	it	it	PRON
fbem-13214	25	2	needs	need	VERB
fbem-13214	25	3	to	to	PART
fbem-13214	25	4	consider	consider	VERB
fbem-13214	25	5	whether	whether	SCONJ
fbem-13214	25	6	the	the	DET
fbem-13214	25	7	actual	actual	ADJ
fbem-13214	25	8	controller	controller	NOUN
fbem-13214	25	9	of	of	ADP
fbem-13214	25	10	the	the	DET
fbem-13214	25	11	listed	list	VERB
fbem-13214	25	12	company	company	NOUN
fbem-13214	25	13	has	have	AUX
fbem-13214	25	14	changed	change	VERB
fbem-13214	25	15	and	and	CCONJ
fbem-13214	25	16	whether	whether	SCONJ
fbem-13214	25	17	the	the	DET
fbem-13214	25	18	future	future	ADJ
fbem-13214	25	19	listed	list	VERB
fbem-13214	25	20	company	company	NOUN
fbem-13214	25	21	will	will	AUX
fbem-13214	25	22	be	be	AUX
fbem-13214	25	23	involved	involve	VERB
fbem-13214	25	24	in	in	ADP
fbem-13214	25	25	significant	significant	ADJ
fbem-13214	25	26	asset	asset	NOUN
fbem-13214	25	27	restructuring	restructuring	NOUN
fbem-13214	25	28	.	.	PUNCT
fbem-13214	26	1	2.4	2.4	NUM
fbem-13214	26	2	.	.	PUNCT
fbem-13214	26	3	transaction	transaction	NOUN
fbem-13214	26	4	structure	structure	NOUN
fbem-13214	26	5	①	①	NUM
fbem-13214	26	6	major	major	ADJ
fbem-13214	26	7	shareholder	shareholder	NOUN
fbem-13214	26	8	:	:	PUNCT
fbem-13214	26	9	major	major	ADJ
fbem-13214	26	10	shareholder	shareholder	NOUN
fbem-13214	26	11	of	of	ADP
fbem-13214	26	12	the	the	DET
fbem-13214	26	13	listed	list	VERB
fbem-13214	26	14	company	company	NOUN
fbem-13214	26	15	②	②	NUM
fbem-13214	26	16	company	company	NOUN
fbem-13214	26	17	a	a	PRON
fbem-13214	26	18	:	:	PUNCT
fbem-13214	26	19	company	company	NOUN
fbem-13214	26	20	designated	designate	VERB
fbem-13214	26	21	by	by	ADP
fbem-13214	26	22	the	the	DET
fbem-13214	26	23	acquirer	acquirer	NOUN
fbem-13214	26	24	③	③	NUM
fbem-13214	26	25	loans	loan	NOUN
fbem-13214	26	26	:	:	PUNCT
fbem-13214	26	27	company	company	NOUN
fbem-13214	26	28	a	a	PRON
fbem-13214	26	29	lends	lend	VERB
fbem-13214	26	30	money	money	NOUN
fbem-13214	26	31	to	to	ADP
fbem-13214	26	32	the	the	DET
fbem-13214	26	33	major	major	ADJ
fbem-13214	26	34	shareholder	shareholder	NOUN
fbem-13214	26	35	for	for	ADP
fbem-13214	26	36	investing	invest	VERB
fbem-13214	26	37	in	in	ADP
fbem-13214	26	38	the	the	DET
fbem-13214	26	39	private	private	ADJ
fbem-13214	26	40	placement	placement	NOUN
fbem-13214	26	41	shares	share	NOUN
fbem-13214	26	42	④	④	NUM
fbem-13214	26	43	repayment	repayment	NOUN
fbem-13214	26	44	of	of	ADP
fbem-13214	26	45	part	part	NOUN
fbem-13214	26	46	of	of	ADP
fbem-13214	26	47	the	the	DET
fbem-13214	26	48	loan	loan	NOUN
fbem-13214	26	49	:	:	PUNCT
fbem-13214	26	50	the	the	DET
fbem-13214	26	51	major	major	ADJ
fbem-13214	26	52	shareholder	shareholder	NOUN
fbem-13214	26	53	pledges	pledge	VERB
fbem-13214	26	54	the	the	DET
fbem-13214	26	55	shares	share	NOUN
fbem-13214	26	56	obtained	obtain	VERB
fbem-13214	26	57	through	through	ADP
fbem-13214	26	58	the	the	DET
fbem-13214	26	59	private	private	ADJ
fbem-13214	26	60	placement	placement	NOUN
fbem-13214	26	61	for	for	ADP
fbem-13214	26	62	financing	financing	NOUN
fbem-13214	26	63	and	and	CCONJ
fbem-13214	26	64	repays	repay	VERB
fbem-13214	26	65	the	the	DET
fbem-13214	26	66	financing	financing	NOUN
fbem-13214	26	67	funds	fund	NOUN
fbem-13214	26	68	to	to	PART
fbem-13214	26	69	company	company	NOUN
fbem-13214	26	70	a.	a.	NOUN
fbem-13214	26	71	the	the	DET
fbem-13214	26	72	amount	amount	NOUN
fbem-13214	26	73	of	of	ADP
fbem-13214	26	74	financing	financing	NOUN
fbem-13214	26	75	is	be	AUX
fbem-13214	26	76	determined	determine	VERB
fbem-13214	26	77	by	by	ADP
fbem-13214	26	78	the	the	DET
fbem-13214	26	79	pledge	pledge	NOUN
fbem-13214	26	80	rate	rate	NOUN
fbem-13214	26	81	of	of	ADP
fbem-13214	26	82	the	the	DET
fbem-13214	26	83	shares	share	NOUN
fbem-13214	26	84	.	.	PUNCT
fbem-13214	27	1	⑤	⑤	X
fbem-13214	27	2	acquisition	acquisition	NOUN
fbem-13214	27	3	:	:	PUNCT
fbem-13214	27	4	the	the	DET
fbem-13214	27	5	listed	list	VERB
fbem-13214	27	6	company	company	NOUN
fbem-13214	27	7	achieves	achieve	VERB
fbem-13214	27	8	the	the	DET
fbem-13214	27	9	acquisition	acquisition	NOUN
fbem-13214	27	10	of	of	ADP
fbem-13214	27	11	the	the	DET
fbem-13214	27	12	target	target	NOUN
fbem-13214	27	13	company	company	NOUN
fbem-13214	27	14	by	by	ADP
fbem-13214	27	15	increasing	increase	VERB
fbem-13214	27	16	capital	capital	NOUN
fbem-13214	27	17	or	or	CCONJ
fbem-13214	27	18	acquiring	acquire	VERB
fbem-13214	27	19	shares	share	NOUN
fbem-13214	27	20	from	from	ADP
fbem-13214	27	21	the	the	DET
fbem-13214	27	22	existing	exist	VERB
fbem-13214	27	23	shareholders	shareholder	NOUN
fbem-13214	27	24	of	of	ADP
fbem-13214	27	25	the	the	DET
fbem-13214	27	26	target	target	NOUN
fbem-13214	27	27	company	company	NOUN
fbem-13214	27	28	.	.	PUNCT
fbem-13214	28	1	191	191	NUM
fbem-13214	28	2	figure	figure	NOUN
fbem-13214	28	3	1	1	NUM
fbem-13214	28	4	.	.	PUNCT
fbem-13214	28	5	transaction	transaction	NOUN
fbem-13214	28	6	structure	structure	NOUN
fbem-13214	28	7	of	of	ADP
fbem-13214	28	8	reverse	reverse	ADJ
fbem-13214	28	9	acquisition	acquisition	NOUN
fbem-13214	28	10	figure	figure	NOUN
fbem-13214	28	11	2	2	NUM
fbem-13214	28	12	.	.	PUNCT
fbem-13214	28	13	transaction	transaction	NOUN
fbem-13214	28	14	structure	structure	NOUN
fbem-13214	28	15	of	of	ADP
fbem-13214	28	16	reverse	reverse	ADJ
fbem-13214	28	17	acquisition	acquisition	NOUN
fbem-13214	28	18	①	①	NUM
fbem-13214	28	19	major	major	ADJ
fbem-13214	28	20	shareholder	shareholder	NOUN
fbem-13214	28	21	:	:	PUNCT
fbem-13214	28	22	major	major	ADJ
fbem-13214	28	23	shareholder	shareholder	NOUN
fbem-13214	28	24	of	of	ADP
fbem-13214	28	25	the	the	DET
fbem-13214	28	26	listed	list	VERB
fbem-13214	28	27	company	company	NOUN
fbem-13214	28	28	⑥	⑥	PROPN
fbem-13214	28	29	company	company	NOUN
fbem-13214	28	30	b	b	NOUN
fbem-13214	28	31	:	:	PUNCT
fbem-13214	28	32	company	company	NOUN
fbem-13214	28	33	designated	designate	VERB
fbem-13214	28	34	by	by	ADP
fbem-13214	28	35	the	the	DET
fbem-13214	28	36	acquirer	acquirer	NOUN
fbem-13214	28	37	⑦	⑦	NUM
fbem-13214	28	38	agreement	agreement	NOUN
fbem-13214	28	39	transfer	transfer	NOUN
fbem-13214	28	40	:	:	PUNCT
fbem-13214	28	41	company	company	NOUN
fbem-13214	28	42	b	b	PROPN
fbem-13214	28	43	purchases	purchase	VERB
fbem-13214	28	44	a	a	DET
fbem-13214	28	45	certain	certain	ADJ
fbem-13214	28	46	percentage	percentage	NOUN
fbem-13214	28	47	of	of	ADP
fbem-13214	28	48	the	the	DET
fbem-13214	28	49	listed	list	VERB
fbem-13214	28	50	company	company	NOUN
fbem-13214	28	51	's	's	PART
fbem-13214	28	52	shares	share	NOUN
fbem-13214	28	53	held	hold	VERB
fbem-13214	28	54	by	by	ADP
fbem-13214	28	55	the	the	DET
fbem-13214	28	56	major	major	ADJ
fbem-13214	28	57	shareholder	shareholder	NOUN
fbem-13214	28	58	in	in	ADP
fbem-13214	28	59	cash	cash	NOUN
fbem-13214	28	60	.	.	PUNCT
fbem-13214	29	1	3	3	X
fbem-13214	29	2	.	.	X
fbem-13214	29	3	mode	mode	NOUN
fbem-13214	29	4	2	2	NUM
fbem-13214	29	5	:	:	PUNCT
fbem-13214	29	6	agreement	agreement	NOUN
fbem-13214	29	7	acquisition	acquisition	NOUN
fbem-13214	29	8	3.1	3.1	NUM
fbem-13214	29	9	.	.	PUNCT
fbem-13214	30	1	definition	definition	NOUN
fbem-13214	30	2	agreement	agreement	NOUN
fbem-13214	30	3	acquisition	acquisition	NOUN
fbem-13214	30	4	refers	refer	VERB
fbem-13214	30	5	to	to	ADP
fbem-13214	30	6	the	the	DET
fbem-13214	30	7	acquisition	acquisition	NOUN
fbem-13214	30	8	party	party	NOUN
fbem-13214	30	9	initially	initially	ADV
fbem-13214	30	10	purchasing	purchase	VERB
fbem-13214	30	11	and	and	CCONJ
fbem-13214	30	12	controlling	control	VERB
fbem-13214	30	13	a	a	DET
fbem-13214	30	14	listed	list	VERB
fbem-13214	30	15	company	company	NOUN
fbem-13214	30	16	with	with	ADP
fbem-13214	30	17	cash	cash	NOUN
fbem-13214	30	18	,	,	PUNCT
fbem-13214	30	19	without	without	ADP
fbem-13214	30	20	altering	alter	VERB
fbem-13214	30	21	the	the	DET
fbem-13214	30	22	main	main	ADJ
fbem-13214	30	23	business	business	NOUN
fbem-13214	30	24	of	of	ADP
fbem-13214	30	25	the	the	DET
fbem-13214	30	26	listed	list	VERB
fbem-13214	30	27	company	company	NOUN
fbem-13214	30	28	.	.	PUNCT
fbem-13214	31	1	in	in	ADP
fbem-13214	31	2	the	the	DET
fbem-13214	31	3	future	future	NOUN
fbem-13214	31	4	,	,	PUNCT
fbem-13214	31	5	the	the	DET
fbem-13214	31	6	listed	list	VERB
fbem-13214	31	7	company	company	NOUN
fbem-13214	31	8	will	will	AUX
fbem-13214	31	9	raise	raise	VERB
fbem-13214	31	10	funds	fund	NOUN
fbem-13214	31	11	through	through	ADP
fbem-13214	31	12	targeted	target	VERB
fbem-13214	31	13	issuance	issuance	NOUN
fbem-13214	31	14	,	,	PUNCT
fbem-13214	31	15	and	and	CCONJ
fbem-13214	31	16	the	the	DET
fbem-13214	31	17	funds	fund	NOUN
fbem-13214	31	18	raised	raise	VERB
fbem-13214	31	19	by	by	ADP
fbem-13214	31	20	the	the	DET
fbem-13214	31	21	listed	list	VERB
fbem-13214	31	22	company	company	NOUN
fbem-13214	31	23	will	will	AUX
fbem-13214	31	24	be	be	AUX
fbem-13214	31	25	used	use	VERB
fbem-13214	31	26	to	to	PART
fbem-13214	31	27	acquire	acquire	VERB
fbem-13214	31	28	the	the	DET
fbem-13214	31	29	controlling	control	VERB
fbem-13214	31	30	rights	right	NOUN
fbem-13214	31	31	of	of	ADP
fbem-13214	31	32	the	the	DET
fbem-13214	31	33	target	target	NOUN
fbem-13214	31	34	company	company	NOUN
fbem-13214	31	35	,	,	PUNCT
fbem-13214	31	36	ultimately	ultimately	ADV
fbem-13214	31	37	achieving	achieve	VERB
fbem-13214	31	38	a	a	DET
fbem-13214	31	39	transformation	transformation	NOUN
fbem-13214	31	40	of	of	ADP
fbem-13214	31	41	the	the	DET
fbem-13214	31	42	main	main	ADJ
fbem-13214	31	43	business	business	NOUN
fbem-13214	31	44	of	of	ADP
fbem-13214	31	45	the	the	DET
fbem-13214	31	46	listed	list	VERB
fbem-13214	31	47	company	company	NOUN
fbem-13214	31	48	.	.	PUNCT
fbem-13214	32	1	3.2	3.2	NUM
fbem-13214	32	2	.	.	PUNCT
fbem-13214	32	3	advantages	advantage	NOUN
fbem-13214	32	4	and	and	CCONJ
fbem-13214	32	5	disadvantages	disadvantage	VERB
fbem-13214	32	6	the	the	DET
fbem-13214	32	7	acquiring	acquire	VERB
fbem-13214	32	8	party	party	NOUN
fbem-13214	32	9	can	can	AUX
fbem-13214	32	10	prioritize	prioritize	VERB
fbem-13214	32	11	the	the	DET
fbem-13214	32	12	control	control	NOUN
fbem-13214	32	13	of	of	ADP
fbem-13214	32	14	a	a	DET
fbem-13214	32	15	listed	list	VERB
fbem-13214	32	16	company	company	NOUN
fbem-13214	32	17	.	.	PUNCT
fbem-13214	33	1	the	the	DET
fbem-13214	33	2	initial	initial	ADJ
fbem-13214	33	3	cash	cash	NOUN
fbem-13214	33	4	acquisition	acquisition	NOUN
fbem-13214	33	5	by	by	ADP
fbem-13214	33	6	the	the	DET
fbem-13214	33	7	acquiring	acquire	VERB
fbem-13214	33	8	party	party	NOUN
fbem-13214	33	9	requires	require	VERB
fbem-13214	33	10	a	a	DET
fbem-13214	33	11	relatively	relatively	ADV
fbem-13214	33	12	large	large	ADJ
fbem-13214	33	13	amount	amount	NOUN
fbem-13214	33	14	of	of	ADP
fbem-13214	33	15	funds	fund	NOUN
fbem-13214	33	16	.	.	PUNCT
fbem-13214	34	1	the	the	DET
fbem-13214	34	2	uncertainty	uncertainty	NOUN
fbem-13214	34	3	of	of	ADP
fbem-13214	34	4	the	the	DET
fbem-13214	34	5	subsequent	subsequent	ADJ
fbem-13214	34	6	targeted	target	VERB
fbem-13214	34	7	issuance	issuance	NOUN
fbem-13214	34	8	of	of	ADP
fbem-13214	34	9	the	the	DET
fbem-13214	34	10	listed	list	VERB
fbem-13214	34	11	company	company	NOUN
fbem-13214	34	12	is	be	AUX
fbem-13214	34	13	strong	strong	ADJ
fbem-13214	34	14	.	.	PUNCT
fbem-13214	35	1	if	if	SCONJ
fbem-13214	35	2	the	the	DET
fbem-13214	35	3	performance	performance	NOUN
fbem-13214	35	4	of	of	ADP
fbem-13214	35	5	the	the	DET
fbem-13214	35	6	original	original	ADJ
fbem-13214	35	7	business	business	NOUN
fbem-13214	35	8	of	of	ADP
fbem-13214	35	9	the	the	DET
fbem-13214	35	10	listed	list	VERB
fbem-13214	35	11	company	company	NOUN
fbem-13214	35	12	is	be	AUX
fbem-13214	35	13	poor	poor	ADJ
fbem-13214	35	14	,	,	PUNCT
fbem-13214	35	15	the	the	DET
fbem-13214	35	16	acquiring	acquire	VERB
fbem-13214	35	17	party	party	NOUN
fbem-13214	35	18	may	may	AUX
fbem-13214	35	19	be	be	AUX
fbem-13214	35	20	exposed	expose	VERB
fbem-13214	35	21	to	to	ADP
fbem-13214	35	22	the	the	DET
fbem-13214	35	23	risks	risk	NOUN
fbem-13214	35	24	of	of	ADP
fbem-13214	35	25	the	the	DET
fbem-13214	35	26	listed	list	VERB
fbem-13214	35	27	company	company	NOUN
fbem-13214	35	28	being	be	AUX
fbem-13214	35	29	labeled	label	VERB
fbem-13214	35	30	as	as	ADP
fbem-13214	35	31	st	st	PROPN
fbem-13214	35	32	,	,	PUNCT
fbem-13214	35	33	*	*	PROPN
fbem-13214	35	34	st	st	PROPN
fbem-13214	35	35	,	,	PUNCT
fbem-13214	35	36	or	or	CCONJ
fbem-13214	35	37	being	be	AUX
fbem-13214	35	38	delisted	delist	VERB
fbem-13214	35	39	.	.	PUNCT
fbem-13214	36	1	whether	whether	SCONJ
fbem-13214	36	2	it	it	PRON
fbem-13214	36	3	meets	meet	VERB
fbem-13214	36	4	the	the	DET
fbem-13214	36	5	criteria	criterion	NOUN
fbem-13214	36	6	for	for	ADP
fbem-13214	36	7	backdoor	backdoor	NOUN
fbem-13214	36	8	listing	list	VERB
fbem-13214	36	9	defined	define	VERB
fbem-13214	36	10	by	by	ADP
fbem-13214	36	11	china	china	PROPN
fbem-13214	36	12	securities	securities	PROPN
fbem-13214	36	13	regulatory	regulatory	PROPN
fbem-13214	36	14	commission	commission	PROPN
fbem-13214	36	15	(	(	PUNCT
fbem-13214	36	16	csrc	csrc	NOUN
fbem-13214	36	17	):	):	PUNCT
fbem-13214	36	18	no	no	INTJ
fbem-13214	36	19	.	.	PUNCT
fbem-13214	37	1	because	because	SCONJ
fbem-13214	37	2	the	the	DET
fbem-13214	37	3	acquiring	acquire	VERB
fbem-13214	37	4	party	party	NOUN
fbem-13214	37	5	first	first	ADV
fbem-13214	37	6	controls	control	VERB
fbem-13214	37	7	a	a	DET
fbem-13214	37	8	listed	list	VERB
fbem-13214	37	9	company	company	NOUN
fbem-13214	37	10	,	,	PUNCT
fbem-13214	37	11	indicating	indicate	VERB
fbem-13214	37	12	that	that	SCONJ
fbem-13214	37	13	the	the	DET
fbem-13214	37	14	actual	actual	ADJ
fbem-13214	37	15	controller	controller	NOUN
fbem-13214	37	16	of	of	ADP
fbem-13214	37	17	the	the	DET
fbem-13214	37	18	listed	list	VERB
fbem-13214	37	19	company	company	NOUN
fbem-13214	37	20	has	have	AUX
fbem-13214	37	21	changed	change	VERB
fbem-13214	37	22	.	.	PUNCT
fbem-13214	38	1	however	however	ADV
fbem-13214	38	2	,	,	PUNCT
fbem-13214	38	3	whether	whether	SCONJ
fbem-13214	38	4	the	the	DET
fbem-13214	38	5	listed	list	VERB
fbem-13214	38	6	company	company	NOUN
fbem-13214	38	7	is	be	AUX
fbem-13214	38	8	involved	involve	VERB
fbem-13214	38	9	in	in	ADP
fbem-13214	38	10	major	major	ADJ
fbem-13214	38	11	asset	asset	NOUN
fbem-13214	38	12	restructuring	restructuring	NOUN
fbem-13214	38	13	needs	need	VERB
fbem-13214	38	14	to	to	PART
fbem-13214	38	15	be	be	AUX
fbem-13214	38	16	determined	determine	VERB
fbem-13214	38	17	based	base	VERB
fbem-13214	38	18	on	on	ADP
fbem-13214	38	19	the	the	DET
fbem-13214	38	20	specific	specific	ADJ
fbem-13214	38	21	acquisition	acquisition	NOUN
fbem-13214	38	22	transaction	transaction	NOUN
fbem-13214	38	23	of	of	ADP
fbem-13214	38	24	the	the	DET
fbem-13214	38	25	listed	list	VERB
fbem-13214	38	26	company	company	NOUN
fbem-13214	38	27	in	in	ADP
fbem-13214	38	28	the	the	DET
fbem-13214	38	29	future	future	NOUN
fbem-13214	38	30	.	.	PUNCT
fbem-13214	39	1	3.3	3.3	NUM
fbem-13214	39	2	.	.	PUNCT
fbem-13214	40	1	transaction	transaction	NOUN
fbem-13214	40	2	structure	structure	NOUN
fbem-13214	40	3	figure	figure	NOUN
fbem-13214	40	4	3	3	NUM
fbem-13214	40	5	.	.	PUNCT
fbem-13214	40	6	transaction	transaction	NOUN
fbem-13214	40	7	structure	structure	NOUN
fbem-13214	40	8	of	of	ADP
fbem-13214	40	9	agreement	agreement	NOUN
fbem-13214	40	10	acquisition	acquisition	NOUN
fbem-13214	40	11	①	①	NUM
fbem-13214	40	12	major	major	ADJ
fbem-13214	40	13	shareholder	shareholder	NOUN
fbem-13214	40	14	:	:	PUNCT
fbem-13214	40	15	major	major	ADJ
fbem-13214	40	16	shareholder	shareholder	NOUN
fbem-13214	40	17	of	of	ADP
fbem-13214	40	18	the	the	DET
fbem-13214	40	19	listed	list	VERB
fbem-13214	40	20	company	company	NOUN
fbem-13214	40	21	②	②	NUM
fbem-13214	40	22	company	company	NOUN
fbem-13214	40	23	a	a	PRON
fbem-13214	40	24	:	:	PUNCT
fbem-13214	40	25	company	company	NOUN
fbem-13214	40	26	designated	designate	VERB
fbem-13214	40	27	by	by	ADP
fbem-13214	40	28	the	the	DET
fbem-13214	40	29	acquirer	acquirer	NOUN
fbem-13214	40	30	⑧	⑧	NUM
fbem-13214	40	31	protocol	protocol	NOUN
fbem-13214	40	32	transfer	transfer	NOUN
fbem-13214	40	33	:	:	PUNCT
fbem-13214	40	34	the	the	DET
fbem-13214	40	35	acquiring	acquire	VERB
fbem-13214	40	36	party	party	NOUN
fbem-13214	40	37	acquires	acquire	VERB
fbem-13214	40	38	the	the	DET
fbem-13214	40	39	controlling	control	VERB
fbem-13214	40	40	rights	right	NOUN
fbem-13214	40	41	of	of	ADP
fbem-13214	40	42	the	the	DET
fbem-13214	40	43	majority	majority	NOUN
fbem-13214	40	44	shareholder	shareholder	NOUN
fbem-13214	40	45	in	in	ADP
fbem-13214	40	46	cash	cash	NOUN
fbem-13214	40	47	.	.	PUNCT
fbem-13214	41	1	the	the	DET
fbem-13214	41	2	majority	majority	NOUN
fbem-13214	41	3	shareholder	shareholder	NOUN
fbem-13214	41	4	here	here	ADV
fbem-13214	41	5	refers	refer	VERB
fbem-13214	41	6	to	to	ADP
fbem-13214	41	7	a	a	DET
fbem-13214	41	8	company	company	NOUN
fbem-13214	41	9	,	,	PUNCT
fbem-13214	41	10	not	not	PART
fbem-13214	41	11	an	an	DET
fbem-13214	41	12	individual	individual	NOUN
fbem-13214	41	13	.	.	PUNCT
fbem-13214	42	1	4	4	X
fbem-13214	42	2	.	.	X
fbem-13214	42	3	mode	mode	NOUN
fbem-13214	42	4	3	3	NUM
fbem-13214	42	5	:	:	PUNCT
fbem-13214	42	6	three	three	NUM
fbem-13214	42	7	-	-	PUNCT
fbem-13214	42	8	party	party	NOUN
fbem-13214	42	9	cooperative	cooperative	ADJ
fbem-13214	42	10	acquisition	acquisition	NOUN
fbem-13214	42	11	4.1	4.1	NUM
fbem-13214	42	12	.	.	PUNCT
fbem-13214	43	1	definition	definition	NOUN
fbem-13214	43	2	three	three	NUM
fbem-13214	43	3	-	-	PUNCT
fbem-13214	43	4	party	party	NOUN
fbem-13214	43	5	cooperative	cooperative	ADJ
fbem-13214	43	6	acquisition	acquisition	NOUN
fbem-13214	43	7	refers	refer	VERB
fbem-13214	43	8	to	to	ADP
fbem-13214	43	9	the	the	DET
fbem-13214	43	10	collaboration	collaboration	NOUN
fbem-13214	43	11	between	between	ADP
fbem-13214	43	12	the	the	DET
fbem-13214	43	13	acquirer	acquirer	NOUN
fbem-13214	43	14	and	and	CCONJ
fbem-13214	43	15	a	a	DET
fbem-13214	43	16	professional	professional	ADJ
fbem-13214	43	17	third	third	ADJ
fbem-13214	43	18	192	192	NUM
fbem-13214	43	19	party	party	NOUN
fbem-13214	43	20	institution	institution	NOUN
fbem-13214	43	21	to	to	PART
fbem-13214	43	22	achieve	achieve	VERB
fbem-13214	43	23	a	a	DET
fbem-13214	43	24	backdoor	backdoor	NOUN
fbem-13214	43	25	listing	listing	NOUN
fbem-13214	43	26	.	.	PUNCT
fbem-13214	44	1	the	the	DET
fbem-13214	44	2	specific	specific	ADJ
fbem-13214	44	3	steps	step	NOUN
fbem-13214	44	4	involve	involve	VERB
fbem-13214	44	5	the	the	DET
fbem-13214	44	6	third	third	ADJ
fbem-13214	44	7	-	-	PUNCT
fbem-13214	44	8	party	party	NOUN
fbem-13214	44	9	institution	institution	NOUN
fbem-13214	44	10	's	's	PART
fbem-13214	44	11	fund	fund	NOUN
fbem-13214	44	12	purchasing	purchase	VERB
fbem-13214	44	13	a	a	DET
fbem-13214	44	14	controlling	control	VERB
fbem-13214	44	15	stake	stake	NOUN
fbem-13214	44	16	in	in	ADP
fbem-13214	44	17	a	a	DET
fbem-13214	44	18	listed	list	VERB
fbem-13214	44	19	company	company	NOUN
fbem-13214	44	20	,	,	PUNCT
fbem-13214	44	21	and	and	CCONJ
fbem-13214	44	22	the	the	DET
fbem-13214	44	23	future	future	ADJ
fbem-13214	44	24	listed	list	VERB
fbem-13214	44	25	company	company	NOUN
fbem-13214	44	26	acquiring	acquire	VERB
fbem-13214	44	27	the	the	DET
fbem-13214	44	28	target	target	NOUN
fbem-13214	44	29	company	company	NOUN
fbem-13214	44	30	designated	designate	VERB
fbem-13214	44	31	by	by	ADP
fbem-13214	44	32	the	the	DET
fbem-13214	44	33	acquirer	acquirer	NOUN
fbem-13214	44	34	through	through	ADP
fbem-13214	44	35	a	a	DET
fbem-13214	44	36	directed	direct	VERB
fbem-13214	44	37	share	share	NOUN
fbem-13214	44	38	issuance	issuance	NOUN
fbem-13214	44	39	.	.	PUNCT
fbem-13214	45	1	4.2	4.2	NUM
fbem-13214	45	2	.	.	PUNCT
fbem-13214	45	3	advantages	advantage	NOUN
fbem-13214	45	4	and	and	CCONJ
fbem-13214	45	5	disadvantages	disadvantage	VERB
fbem-13214	45	6	the	the	DET
fbem-13214	45	7	acquirer	acquirer	NOUN
fbem-13214	45	8	's	's	PART
fbem-13214	45	9	own	own	ADJ
fbem-13214	45	10	funds	fund	NOUN
fbem-13214	45	11	are	be	AUX
fbem-13214	45	12	not	not	PART
fbem-13214	45	13	occupied	occupy	VERB
fbem-13214	45	14	in	in	ADP
fbem-13214	45	15	the	the	DET
fbem-13214	45	16	initial	initial	ADJ
fbem-13214	45	17	stage	stage	NOUN
fbem-13214	45	18	.	.	PUNCT
fbem-13214	46	1	the	the	DET
fbem-13214	46	2	project	project	NOUN
fbem-13214	46	3	is	be	AUX
fbem-13214	46	4	passive	passive	ADJ
fbem-13214	46	5	,	,	PUNCT
fbem-13214	46	6	and	and	CCONJ
fbem-13214	46	7	the	the	DET
fbem-13214	46	8	acquirer	acquirer	NOUN
fbem-13214	46	9	lacks	lack	VERB
fbem-13214	46	10	control	control	NOUN
fbem-13214	46	11	.	.	PUNCT
fbem-13214	47	1	both	both	CCONJ
fbem-13214	47	2	the	the	DET
fbem-13214	47	3	acquisition	acquisition	NOUN
fbem-13214	47	4	of	of	ADP
fbem-13214	47	5	the	the	DET
fbem-13214	47	6	controlling	control	VERB
fbem-13214	47	7	stake	stake	NOUN
fbem-13214	47	8	in	in	ADP
fbem-13214	47	9	the	the	DET
fbem-13214	47	10	listed	list	VERB
fbem-13214	47	11	company	company	NOUN
fbem-13214	47	12	and	and	CCONJ
fbem-13214	47	13	the	the	DET
fbem-13214	47	14	future	future	ADJ
fbem-13214	47	15	listed	list	VERB
fbem-13214	47	16	company	company	NOUN
fbem-13214	47	17	's	's	PART
fbem-13214	47	18	directed	direct	VERB
fbem-13214	47	19	share	share	NOUN
fbem-13214	47	20	issuance	issuance	NOUN
fbem-13214	47	21	to	to	PART
fbem-13214	47	22	acquire	acquire	VERB
fbem-13214	47	23	the	the	DET
fbem-13214	47	24	target	target	NOUN
fbem-13214	47	25	company	company	NOUN
fbem-13214	47	26	need	need	VERB
fbem-13214	47	27	to	to	PART
fbem-13214	47	28	be	be	AUX
fbem-13214	47	29	led	lead	VERB
fbem-13214	47	30	by	by	ADP
fbem-13214	47	31	the	the	DET
fbem-13214	47	32	third	third	ADJ
fbem-13214	47	33	-	-	PUNCT
fbem-13214	47	34	party	party	NOUN
fbem-13214	47	35	institution	institution	NOUN
fbem-13214	47	36	.	.	PUNCT
fbem-13214	48	1	if	if	SCONJ
fbem-13214	48	2	the	the	DET
fbem-13214	48	3	third	third	ADJ
fbem-13214	48	4	-	-	PUNCT
fbem-13214	48	5	party	party	NOUN
fbem-13214	48	6	institution	institution	NOUN
fbem-13214	48	7	discovers	discover	VERB
fbem-13214	48	8	better	well	ADJ
fbem-13214	48	9	target	target	NOUN
fbem-13214	48	10	companies	company	NOUN
fbem-13214	48	11	in	in	ADP
fbem-13214	48	12	the	the	DET
fbem-13214	48	13	future	future	NOUN
fbem-13214	48	14	or	or	CCONJ
fbem-13214	48	15	uncertain	uncertain	ADJ
fbem-13214	48	16	factors	factor	NOUN
fbem-13214	48	17	arise	arise	VERB
fbem-13214	48	18	,	,	PUNCT
fbem-13214	48	19	the	the	DET
fbem-13214	48	20	thirdparty	thirdparty	PROPN
fbem-13214	48	21	institution	institution	NOUN
fbem-13214	48	22	can	can	AUX
fbem-13214	48	23	abandon	abandon	VERB
fbem-13214	48	24	the	the	DET
fbem-13214	48	25	target	target	NOUN
fbem-13214	48	26	investment	investment	NOUN
fbem-13214	48	27	designated	designate	VERB
fbem-13214	48	28	by	by	ADP
fbem-13214	48	29	the	the	DET
fbem-13214	48	30	acquirer	acquirer	NOUN
fbem-13214	48	31	and	and	CCONJ
fbem-13214	48	32	subjectively	subjectively	ADV
fbem-13214	48	33	select	select	VERB
fbem-13214	48	34	the	the	DET
fbem-13214	48	35	target	target	NOUN
fbem-13214	48	36	for	for	ADP
fbem-13214	48	37	the	the	DET
fbem-13214	48	38	directed	direct	VERB
fbem-13214	48	39	share	share	NOUN
fbem-13214	48	40	issuance	issuance	NOUN
fbem-13214	48	41	.	.	PUNCT
fbem-13214	49	1	whether	whether	SCONJ
fbem-13214	49	2	it	it	PRON
fbem-13214	49	3	meets	meet	VERB
fbem-13214	49	4	the	the	DET
fbem-13214	49	5	criteria	criterion	NOUN
fbem-13214	49	6	for	for	ADP
fbem-13214	49	7	backdoor	backdoor	NOUN
fbem-13214	49	8	listing	list	VERB
fbem-13214	49	9	defined	define	VERB
fbem-13214	49	10	by	by	ADP
fbem-13214	49	11	china	china	PROPN
fbem-13214	49	12	securities	securities	PROPN
fbem-13214	49	13	regulatory	regulatory	PROPN
fbem-13214	49	14	commission	commission	PROPN
fbem-13214	49	15	(	(	PUNCT
fbem-13214	49	16	csrc	csrc	NOUN
fbem-13214	49	17	):	):	PUNCT
fbem-13214	49	18	no	no	INTJ
fbem-13214	49	19	.	.	PUNCT
fbem-13214	50	1	the	the	DET
fbem-13214	50	2	change	change	NOUN
fbem-13214	50	3	of	of	ADP
fbem-13214	50	4	actual	actual	ADJ
fbem-13214	50	5	controller	controller	NOUN
fbem-13214	50	6	of	of	ADP
fbem-13214	50	7	the	the	DET
fbem-13214	50	8	listed	list	VERB
fbem-13214	50	9	company	company	NOUN
fbem-13214	50	10	is	be	AUX
fbem-13214	50	11	unrelated	unrelated	ADJ
fbem-13214	50	12	to	to	ADP
fbem-13214	50	13	the	the	DET
fbem-13214	50	14	acquirer	acquirer	NOUN
fbem-13214	50	15	.	.	PUNCT
fbem-13214	51	1	whether	whether	SCONJ
fbem-13214	51	2	the	the	DET
fbem-13214	51	3	future	future	ADJ
fbem-13214	51	4	listed	list	VERB
fbem-13214	51	5	company	company	NOUN
fbem-13214	51	6	is	be	AUX
fbem-13214	51	7	engaged	engage	VERB
fbem-13214	51	8	in	in	ADP
fbem-13214	51	9	significant	significant	ADJ
fbem-13214	51	10	asset	asset	NOUN
fbem-13214	51	11	restructuring	restructuring	NOUN
fbem-13214	51	12	depends	depend	VERB
fbem-13214	51	13	on	on	ADP
fbem-13214	51	14	the	the	DET
fbem-13214	51	15	target	target	NOUN
fbem-13214	51	16	company	company	NOUN
fbem-13214	51	17	acquired	acquire	VERB
fbem-13214	51	18	by	by	ADP
fbem-13214	51	19	the	the	DET
fbem-13214	51	20	future	future	ADJ
fbem-13214	51	21	listed	list	VERB
fbem-13214	51	22	company	company	NOUN
fbem-13214	51	23	.	.	PUNCT
fbem-13214	52	1	4.3	4.3	NUM
fbem-13214	52	2	.	.	PUNCT
fbem-13214	53	1	transaction	transaction	NOUN
fbem-13214	53	2	structure	structure	NOUN
fbem-13214	53	3	figure	figure	NOUN
fbem-13214	53	4	4	4	NUM
fbem-13214	53	5	.	.	PUNCT
fbem-13214	53	6	transaction	transaction	NOUN
fbem-13214	53	7	structure	structure	NOUN
fbem-13214	53	8	of	of	ADP
fbem-13214	53	9	three	three	NUM
fbem-13214	53	10	-	-	PUNCT
fbem-13214	53	11	party	party	NOUN
fbem-13214	53	12	cooperative	cooperative	ADJ
fbem-13214	53	13	acquisition	acquisition	NOUN
fbem-13214	53	14	①	①	NUM
fbem-13214	53	15	major	major	ADJ
fbem-13214	53	16	shareholder	shareholder	NOUN
fbem-13214	53	17	:	:	PUNCT
fbem-13214	53	18	major	major	ADJ
fbem-13214	53	19	shareholder	shareholder	NOUN
fbem-13214	53	20	of	of	ADP
fbem-13214	53	21	the	the	DET
fbem-13214	53	22	listed	list	VERB
fbem-13214	53	23	company	company	NOUN
fbem-13214	53	24	⑨	⑨	NUM
fbem-13214	53	25	agreement	agreement	NOUN
fbem-13214	53	26	transfer	transfer	NOUN
fbem-13214	53	27	:	:	PUNCT
fbem-13214	53	28	the	the	DET
fbem-13214	53	29	third	third	ADJ
fbem-13214	53	30	-	-	PUNCT
fbem-13214	53	31	party	party	NOUN
fbem-13214	53	32	company	company	NOUN
fbem-13214	53	33	generally	generally	ADV
fbem-13214	53	34	acquires	acquire	VERB
fbem-13214	53	35	the	the	DET
fbem-13214	53	36	controlling	control	VERB
fbem-13214	53	37	stake	stake	NOUN
fbem-13214	53	38	of	of	ADP
fbem-13214	53	39	the	the	DET
fbem-13214	53	40	major	major	ADJ
fbem-13214	53	41	shareholder	shareholder	NOUN
fbem-13214	53	42	through	through	ADP
fbem-13214	53	43	a	a	DET
fbem-13214	53	44	fund	fund	NOUN
fbem-13214	53	45	,	,	PUNCT
fbem-13214	53	46	where	where	SCONJ
fbem-13214	53	47	the	the	DET
fbem-13214	53	48	major	major	ADJ
fbem-13214	53	49	shareholder	shareholder	NOUN
fbem-13214	53	50	is	be	AUX
fbem-13214	53	51	a	a	DET
fbem-13214	53	52	company	company	NOUN
fbem-13214	53	53	,	,	PUNCT
fbem-13214	53	54	not	not	PART
fbem-13214	53	55	an	an	DET
fbem-13214	53	56	individual	individual	NOUN
fbem-13214	53	57	.	.	PUNCT
fbem-13214	54	1	⑩	⑩	PROPN
fbem-13214	54	2	third	third	ADJ
fbem-13214	54	3	-	-	PUNCT
fbem-13214	54	4	party	party	NOUN
fbem-13214	54	5	company	company	NOUN
fbem-13214	54	6	:	:	PUNCT
fbem-13214	54	7	the	the	DET
fbem-13214	54	8	third	third	ADJ
fbem-13214	54	9	-	-	PUNCT
fbem-13214	54	10	party	party	NOUN
fbem-13214	54	11	company	company	NOUN
fbem-13214	54	12	generally	generally	ADV
fbem-13214	54	13	refers	refer	VERB
fbem-13214	54	14	to	to	ADP
fbem-13214	54	15	professional	professional	ADJ
fbem-13214	54	16	financial	financial	ADJ
fbem-13214	54	17	and	and	CCONJ
fbem-13214	54	18	stock	stock	NOUN
fbem-13214	54	19	advisory	advisory	ADJ
fbem-13214	54	20	companies	company	NOUN
fbem-13214	54	21	or	or	CCONJ
fbem-13214	54	22	investment	investment	NOUN
fbem-13214	54	23	consulting	consulting	NOUN
fbem-13214	54	24	companies	company	NOUN
fbem-13214	54	25	.	.	PUNCT
fbem-13214	55	1	factors	factor	NOUN
fbem-13214	55	2	to	to	PART
fbem-13214	55	3	consider	consider	VERB
fbem-13214	55	4	when	when	SCONJ
fbem-13214	55	5	selecting	select	VERB
fbem-13214	55	6	potential	potential	ADJ
fbem-13214	55	7	target	target	NOUN
fbem-13214	55	8	listed	list	VERB
fbem-13214	55	9	companies	company	NOUN
fbem-13214	55	10	for	for	ADP
fbem-13214	55	11	acquisition	acquisition	NOUN
fbem-13214	55	12	by	by	ADP
fbem-13214	55	13	the	the	DET
fbem-13214	55	14	acquirer	acquirer	NOUN
fbem-13214	55	15	:	:	PUNCT
fbem-13214	55	16	1	1	X
fbem-13214	55	17	.	.	PUNCT
fbem-13214	56	1	the	the	DET
fbem-13214	56	2	listed	list	VERB
fbem-13214	56	3	company	company	NOUN
fbem-13214	56	4	is	be	AUX
fbem-13214	56	5	not	not	PART
fbem-13214	56	6	st	st	PROPN
fbem-13214	56	7	or	or	CCONJ
fbem-13214	56	8	*	*	PROPN
fbem-13214	56	9	st	st	PROPN
fbem-13214	56	10	.	.	PROPN
fbem-13214	56	11	2	2	NUM
fbem-13214	56	12	.	.	X
fbem-13214	57	1	the	the	DET
fbem-13214	57	2	net	net	ADJ
fbem-13214	57	3	profit	profit	NOUN
fbem-13214	57	4	in	in	ADP
fbem-13214	57	5	the	the	DET
fbem-13214	57	6	most	most	ADV
fbem-13214	57	7	recent	recent	ADJ
fbem-13214	57	8	financial	financial	ADJ
fbem-13214	57	9	report	report	NOUN
fbem-13214	57	10	of	of	ADP
fbem-13214	57	11	the	the	DET
fbem-13214	57	12	listed	list	VERB
fbem-13214	57	13	company	company	NOUN
fbem-13214	57	14	should	should	AUX
fbem-13214	57	15	be	be	AUX
fbem-13214	57	16	positive	positive	ADJ
fbem-13214	57	17	.	.	PUNCT
fbem-13214	58	1	3	3	X
fbem-13214	58	2	.	.	X
fbem-13214	58	3	it	it	PRON
fbem-13214	58	4	is	be	AUX
fbem-13214	58	5	preferable	preferable	ADJ
fbem-13214	58	6	for	for	SCONJ
fbem-13214	58	7	the	the	DET
fbem-13214	58	8	listed	list	VERB
fbem-13214	58	9	company	company	NOUN
fbem-13214	58	10	to	to	PART
fbem-13214	58	11	be	be	AUX
fbem-13214	58	12	a	a	DET
fbem-13214	58	13	non	non	ADJ
fbem-13214	58	14	-	-	ADJ
fbem-13214	58	15	stateowned	stateowned	ADJ
fbem-13214	58	16	enterprise	enterprise	NOUN
fbem-13214	58	17	.	.	PUNCT
fbem-13214	59	1	4	4	X
fbem-13214	59	2	.	.	X
fbem-13214	59	3	there	there	PRON
fbem-13214	59	4	is	be	VERB
fbem-13214	59	5	no	no	DET
fbem-13214	59	6	financial	financial	ADJ
fbem-13214	59	7	fraud	fraud	NOUN
fbem-13214	59	8	in	in	ADP
fbem-13214	59	9	the	the	DET
fbem-13214	59	10	financial	financial	ADJ
fbem-13214	59	11	data	datum	NOUN
fbem-13214	59	12	of	of	ADP
fbem-13214	59	13	the	the	DET
fbem-13214	59	14	listed	list	VERB
fbem-13214	59	15	company	company	NOUN
fbem-13214	59	16	.	.	PUNCT
fbem-13214	60	1	5	5	X
fbem-13214	60	2	.	.	X
fbem-13214	60	3	the	the	DET
fbem-13214	60	4	listed	list	VERB
fbem-13214	60	5	company	company	NOUN
fbem-13214	60	6	has	have	VERB
fbem-13214	60	7	no	no	DET
fbem-13214	60	8	hidden	hide	VERB
fbem-13214	60	9	external	external	ADJ
fbem-13214	60	10	liabilities	liability	NOUN
fbem-13214	60	11	.	.	PUNCT
fbem-13214	61	1	6	6	X
fbem-13214	61	2	.	.	X
fbem-13214	62	1	it	it	PRON
fbem-13214	62	2	is	be	AUX
fbem-13214	62	3	necessary	necessary	ADJ
fbem-13214	62	4	to	to	PART
fbem-13214	62	5	investigate	investigate	VERB
fbem-13214	62	6	whether	whether	SCONJ
fbem-13214	62	7	the	the	DET
fbem-13214	62	8	registered	register	VERB
fbem-13214	62	9	address	address	NOUN
fbem-13214	62	10	of	of	ADP
fbem-13214	62	11	the	the	DET
fbem-13214	62	12	listed	list	VERB
fbem-13214	62	13	company	company	NOUN
fbem-13214	62	14	can	can	AUX
fbem-13214	62	15	be	be	AUX
fbem-13214	62	16	changed	change	VERB
fbem-13214	62	17	.	.	PUNCT
fbem-13214	63	1	if	if	SCONJ
fbem-13214	63	2	the	the	DET
fbem-13214	63	3	registered	register	VERB
fbem-13214	63	4	address	address	NOUN
fbem-13214	63	5	of	of	ADP
fbem-13214	63	6	the	the	DET
fbem-13214	63	7	listed	list	VERB
fbem-13214	63	8	company	company	NOUN
fbem-13214	63	9	can	can	AUX
fbem-13214	63	10	be	be	AUX
fbem-13214	63	11	relocated	relocate	VERB
fbem-13214	63	12	to	to	ADP
fbem-13214	63	13	some	some	DET
fbem-13214	63	14	certain	certain	ADJ
fbem-13214	63	15	cities	city	NOUN
fbem-13214	63	16	in	in	ADP
fbem-13214	63	17	china	china	PROPN
fbem-13214	63	18	,	,	PUNCT
fbem-13214	63	19	the	the	DET
fbem-13214	63	20	local	local	ADJ
fbem-13214	63	21	government	government	NOUN
fbem-13214	63	22	of	of	ADP
fbem-13214	63	23	that	that	DET
fbem-13214	63	24	city	city	NOUN
fbem-13214	63	25	can	can	AUX
fbem-13214	63	26	provide	provide	VERB
fbem-13214	63	27	the	the	DET
fbem-13214	63	28	listed	list	VERB
fbem-13214	63	29	company	company	NOUN
fbem-13214	63	30	with	with	ADP
fbem-13214	63	31	cash	cash	NOUN
fbem-13214	63	32	subsidies	subsidy	NOUN
fbem-13214	63	33	and	and	CCONJ
fbem-13214	63	34	policy	policy	NOUN
fbem-13214	63	35	incentives	incentive	NOUN
fbem-13214	63	36	such	such	ADJ
fbem-13214	63	37	as	as	ADP
fbem-13214	63	38	land	land	NOUN
fbem-13214	63	39	and	and	CCONJ
fbem-13214	63	40	factory	factory	NOUN
fbem-13214	63	41	subsidies	subsidy	NOUN
fbem-13214	63	42	in	in	ADP
fbem-13214	63	43	the	the	DET
fbem-13214	63	44	range	range	NOUN
fbem-13214	63	45	of	of	ADP
fbem-13214	63	46	tens	ten	NOUN
fbem-13214	63	47	of	of	ADP
fbem-13214	63	48	millions	million	NOUN
fbem-13214	63	49	of	of	ADP
fbem-13214	63	50	yuan	yuan	NOUN
fbem-13214	63	51	.	.	PUNCT
fbem-13214	64	1	5	5	X
fbem-13214	64	2	.	.	X
fbem-13214	64	3	conclusion	conclusion	NOUN
fbem-13214	64	4	this	this	DET
fbem-13214	64	5	paper	paper	NOUN
fbem-13214	64	6	analyzes	analyze	VERB
fbem-13214	64	7	three	three	NUM
fbem-13214	64	8	types	type	NOUN
fbem-13214	64	9	of	of	ADP
fbem-13214	64	10	backdoor	backdoor	NOUN
fbem-13214	64	11	listing	list	VERB
fbem-13214	64	12	operation	operation	NOUN
fbem-13214	64	13	modes	mode	NOUN
fbem-13214	64	14	in	in	ADP
fbem-13214	64	15	china	china	PROPN
fbem-13214	64	16	.	.	PUNCT
fbem-13214	65	1	a	a	DET
fbem-13214	65	2	comparative	comparative	ADJ
fbem-13214	65	3	analysis	analysis	NOUN
fbem-13214	65	4	is	be	AUX
fbem-13214	65	5	conducted	conduct	VERB
fbem-13214	65	6	on	on	ADP
fbem-13214	65	7	the	the	DET
fbem-13214	65	8	definition	definition	NOUN
fbem-13214	65	9	,	,	PUNCT
fbem-13214	65	10	advantages	advantage	NOUN
fbem-13214	65	11	,	,	PUNCT
fbem-13214	65	12	disadvantages	disadvantage	NOUN
fbem-13214	65	13	,	,	PUNCT
fbem-13214	65	14	transaction	transaction	NOUN
fbem-13214	65	15	structure	structure	NOUN
fbem-13214	65	16	,	,	PUNCT
fbem-13214	65	17	and	and	CCONJ
fbem-13214	65	18	whether	whether	SCONJ
fbem-13214	65	19	each	each	DET
fbem-13214	65	20	mode	mode	NOUN
fbem-13214	65	21	violates	violate	VERB
fbem-13214	65	22	the	the	DET
fbem-13214	65	23	backdoor	backdoor	NOUN
fbem-13214	65	24	listing	list	VERB
fbem-13214	65	25	criteria	criterion	NOUN
fbem-13214	65	26	defined	define	VERB
fbem-13214	65	27	by	by	ADP
fbem-13214	65	28	the	the	DET
fbem-13214	65	29	china	china	PROPN
fbem-13214	65	30	securities	securities	PROPN
fbem-13214	65	31	regulatory	regulatory	PROPN
fbem-13214	65	32	commission	commission	PROPN
fbem-13214	65	33	(	(	PUNCT
fbem-13214	65	34	csrc	csrc	PROPN
fbem-13214	65	35	)	)	PUNCT
fbem-13214	65	36	.	.	PUNCT
fbem-13214	66	1	reverse	reverse	ADJ
fbem-13214	66	2	acquisition	acquisition	NOUN
fbem-13214	66	3	,	,	PUNCT
fbem-13214	66	4	agreement	agreement	NOUN
fbem-13214	66	5	acquisition	acquisition	NOUN
fbem-13214	66	6	,	,	PUNCT
fbem-13214	66	7	and	and	CCONJ
fbem-13214	66	8	three	three	NUM
fbem-13214	66	9	-	-	PUNCT
fbem-13214	66	10	party	party	NOUN
fbem-13214	66	11	cooperative	cooperative	ADJ
fbem-13214	66	12	acquisition	acquisition	NOUN
fbem-13214	66	13	have	have	VERB
fbem-13214	66	14	their	their	PRON
fbem-13214	66	15	own	own	ADJ
fbem-13214	66	16	advantages	advantage	NOUN
fbem-13214	66	17	and	and	CCONJ
fbem-13214	66	18	disadvantages	disadvantage	NOUN
fbem-13214	66	19	as	as	ADP
fbem-13214	66	20	operation	operation	NOUN
fbem-13214	66	21	patterns	pattern	NOUN
fbem-13214	66	22	for	for	ADP
fbem-13214	66	23	backdoor	backdoor	NOUN
fbem-13214	66	24	listings	listing	NOUN
fbem-13214	66	25	.	.	PUNCT
fbem-13214	67	1	the	the	DET
fbem-13214	67	2	acquirer	acquirer	NOUN
fbem-13214	67	3	needs	need	VERB
fbem-13214	67	4	to	to	PART
fbem-13214	67	5	weigh	weigh	VERB
fbem-13214	67	6	the	the	DET
fbem-13214	67	7	risks	risk	NOUN
fbem-13214	67	8	and	and	CCONJ
fbem-13214	67	9	benefits	benefit	NOUN
fbem-13214	67	10	of	of	ADP
fbem-13214	67	11	each	each	DET
fbem-13214	67	12	operation	operation	NOUN
fbem-13214	67	13	pattern	pattern	NOUN
fbem-13214	67	14	based	base	VERB
fbem-13214	67	15	on	on	ADP
fbem-13214	67	16	relevant	relevant	ADJ
fbem-13214	67	17	legal	legal	ADJ
fbem-13214	67	18	provisions	provision	NOUN
fbem-13214	67	19	and	and	CCONJ
fbem-13214	67	20	regulations	regulation	NOUN
fbem-13214	67	21	.	.	PUNCT
fbem-13214	68	1	at	at	ADP
fbem-13214	68	2	the	the	DET
fbem-13214	68	3	same	same	ADJ
fbem-13214	68	4	time	time	NOUN
fbem-13214	68	5	,	,	PUNCT
fbem-13214	68	6	regulatory	regulatory	ADJ
fbem-13214	68	7	authorities	authority	NOUN
fbem-13214	68	8	need	need	VERB
fbem-13214	68	9	to	to	PART
fbem-13214	68	10	use	use	VERB
fbem-13214	68	11	corresponding	correspond	VERB
fbem-13214	68	12	legal	legal	ADJ
fbem-13214	68	13	provisions	provision	NOUN
fbem-13214	68	14	and	and	CCONJ
fbem-13214	68	15	regulations	regulation	NOUN
fbem-13214	68	16	as	as	ADP
fbem-13214	68	17	a	a	DET
fbem-13214	68	18	basis	basis	NOUN
fbem-13214	68	19	to	to	PART
fbem-13214	68	20	screen	screen	VERB
fbem-13214	68	21	and	and	CCONJ
fbem-13214	68	22	identify	identify	VERB
fbem-13214	68	23	transactions	transaction	NOUN
fbem-13214	68	24	that	that	PRON
fbem-13214	68	25	may	may	AUX
fbem-13214	68	26	pose	pose	VERB
fbem-13214	68	27	serious	serious	ADJ
fbem-13214	68	28	risks	risk	NOUN
fbem-13214	68	29	to	to	ADP
fbem-13214	68	30	the	the	DET
fbem-13214	68	31	capital	capital	NOUN
fbem-13214	68	32	market	market	NOUN
fbem-13214	68	33	.	.	PUNCT
fbem-13214	69	1	references	reference	NOUN
fbem-13214	69	2	[	[	X
fbem-13214	69	3	1	1	NUM
fbem-13214	69	4	]	]	PUNCT
fbem-13214	69	5	regulations	regulation	NOUN
fbem-13214	69	6	on	on	ADP
fbem-13214	69	7	non	non	ADJ
fbem-13214	69	8	-	-	ADJ
fbem-13214	69	9	public	public	ADJ
fbem-13214	69	10	issuance	issuance	NOUN
fbem-13214	69	11	of	of	ADP
fbem-13214	69	12	stocks	stock	NOUN
fbem-13214	69	13	by	by	ADP
fbem-13214	69	14	listed	list	VERB
fbem-13214	69	15	companies	company	NOUN
fbem-13214	69	16	,	,	PUNCT
fbem-13214	69	17	announcement	announcement	NOUN
fbem-13214	69	18	[	[	X
fbem-13214	69	19	2020	2020	NUM
fbem-13214	69	20	]	]	X
fbem-13214	69	21	no	no	INTJ
fbem-13214	69	22	.	.	NOUN
fbem-13214	69	23	11	11	NUM
fbem-13214	69	24	,	,	PUNCT
fbem-13214	69	25	china	china	PROPN
fbem-13214	69	26	securities	securities	PROPN
fbem-13214	69	27	regulatory	regulatory	PROPN
fbem-13214	69	28	commission	commission	PROPN
fbem-13214	69	29	,	,	PUNCT
fbem-13214	69	30	february	february	PROPN
fbem-13214	69	31	14	14	NUM
fbem-13214	69	32	,	,	PUNCT
fbem-13214	69	33	2020	2020	NUM
fbem-13214	70	1	[	[	X
fbem-13214	70	2	2	2	NUM
fbem-13214	70	3	]	]	PUNCT
fbem-13214	70	4	measures	measure	NOUN
fbem-13214	70	5	for	for	ADP
fbem-13214	70	6	the	the	DET
fbem-13214	70	7	administration	administration	NOUN
fbem-13214	70	8	of	of	ADP
fbem-13214	70	9	listed	list	VERB
fbem-13214	70	10	company	company	NOUN
fbem-13214	70	11	acquisitions	acquisition	NOUN
fbem-13214	70	12	,	,	PUNCT
fbem-13214	70	13	revised	revise	VERB
fbem-13214	70	14	in	in	ADP
fbem-13214	70	15	2020	2020	NUM
fbem-13214	70	16	,	,	PUNCT
fbem-13214	70	17	china	china	PROPN
fbem-13214	70	18	securities	securities	PROPN
fbem-13214	70	19	regulatory	regulatory	PROPN
fbem-13214	70	20	commission	commission	NOUN
fbem-13214	70	21	[	[	X
fbem-13214	70	22	3	3	NUM
fbem-13214	70	23	]	]	PUNCT
fbem-13214	70	24	measures	measure	NOUN
fbem-13214	70	25	for	for	ADP
fbem-13214	70	26	the	the	DET
fbem-13214	70	27	administration	administration	NOUN
fbem-13214	70	28	of	of	ADP
fbem-13214	70	29	major	major	ADJ
fbem-13214	70	30	asset	asset	NOUN
fbem-13214	70	31	restructuring	restructuring	NOUN
fbem-13214	70	32	of	of	ADP
fbem-13214	70	33	listed	list	VERB
fbem-13214	70	34	companies	company	NOUN
fbem-13214	70	35	,	,	PUNCT
fbem-13214	70	36	revised	revise	VERB
fbem-13214	70	37	in	in	ADP
fbem-13214	70	38	2020	2020	NUM
fbem-13214	70	39	,	,	PUNCT
fbem-13214	70	40	china	china	PROPN
fbem-13214	70	41	securities	securities	PROPN
fbem-13214	70	42	regulatory	regulatory	PROPN
fbem-13214	70	43	commission	commission	PROPN
fbem-13214	70	44	.	.	PUNCT