Research On The Effection Of Huayi Bros. Media Group’s Directional Add-issuance

China began to implement the "listing Corporation securities issuance management approach" in 2006, the market began to restore the financing function, directional add-issuance to the unique superiority of the market is becoming the most popular way of financing. Directional add-issuance of a wide range of directional add-issuance, corporate asset acquisition, project financing, supplementary working capital, repayment of debt, etc. can be used to raise funds for directional add-issuance. Compared to the public offering, directional add-issuance issuance costs lower, the issuance cycle is shorter, no profit requirements of the threshold, more targeted, raising faster, can choose the source of funding, and thus the number of directional add-issuance in recent years was a blowout outbreak. The placement of this hot issue as a starting point, the rapid development in recent years the media industry listing Corporation Huayi Brothers as the research object, comprehensive research and analysis about the effect of directional add-issuance.Based on this principle, the advantages and disadvantages of the directional add-issuance and the relevant literature, in-depth analysis combined with the Huayi Brothers operating conditions, price changes, financial situation. This thesis first analyzes the basic situation of Huayi Brothers, Huayi Brothers will increase, but also discusses the lateral directional other companies in the same industry in recent years to make additional reference. Then focus on the Huayi Brothers directional add-issuance market effects, from the impact of capital market, the stock market to carry on the discussion. In the final analysis, Huayi Brothers directed after the completion of the issuance of business status and financial effect, use comparative analysis, ratio analysis and other analysis methods to discuss the financial effect of the directional add-issuance, on the topic in-depth summary.This thesis considers that after the directional add-issuance, companys not only get the strategic partners, for the long-term development of enterprises but also choose directional add-issuance in partners, to a certain extent, also bound in the next few years, the development strategy, which for the listed companies far from short-term financial support can be compared. In the process of directional add-issuance, listed companies in the announcement placement plan, the committee through the SFC audit, the successful implementation of directional add-issuance of these stages, the secondary market price will also have bigger fluctuation, issuance will bring obvious effect of market; increase the ups and downs of the company’s share price depends on market expectations for the future development of the company, listed on the company’s future development and performance, a direct impact on the investor’s interest income. Directional add-issuance in the shortest possible time to improve the company’s cash flow, the company’s financial situation greatly improved, short-term effect is obvious. The price of the stock may not really is the value of the enterprise, the listing Corporation after the directional add-issuance have abundant cash flow, fixed financial indicators can also reflect the impact of the directional add-issuance of enterprises. This thesis considers the placement, enterprise in addition to obtain funds to strategic partners, for the long-term development of enterprises and, choose directional add-issuance in partners, to a certain extent, also bound in the next few years, the development strategy, which for the listed companies far from short-term financial support can be compared. In the process of directional add-issuance, listed companies in the announcement placement plan, the committee through the SFC audit, the successful implementation of directional add-issuance of these stages, the secondary market price will also have bigger fluctuation, issuance will bring obvious effect of market; increase the ups and downs of the company’s share price depends on market expectations for the future development of the company, listed on the company’s future development and performance, a direct impact on the investor’s interest income. Directional add-issuance in the shortest possible time to improve the company’s cash flow, the company’s financial situation greatly improved, short-term effect is obvious.