Conba Split Jolly Pharmaceutical Case Study

With the continuous advance of reform and opening up, China’s economic and social structure is undergoing dramatic changes, constantly adjust the relations between various stakeholders, in the process, the capital market has gradually developed to become perfect and standardized. In order to seek greater interests of capitalists, are actively adjust the structure and scale of enterprises, one important way is to adjust the resource allocation pattern of enterprises. How about the allocation of resources, as an important way to expand the scale of enterprises has been effective merger, each enterprise pursues. As one of the spin off restructuring, this way has been mature foreign enterprises in many countries use. Domestic but within a long time no mature experience and a typical example, this situation continued until 2000, Tongrentang bold attempt to spin off this way, successfully adjusted enterprise resource allocation model, and achieved certain results, spin off listing also began to be entrepreneurs learn to use.With the opening of the 2009 gem, the Commission in April 2010, developed a new policy: allowing domestic listed companies spin off subsidiaries to the gem listing, to the domestic many more opportunities for the enterprises of intention by the spin off way to adjust the structure of enterprises, in these enterprises in high and new technology enterprise is the main part. The companies Conba will to its core business jolly pharmaceutical spin off listing of the gem is a successful case, there are lots of places we can learn and explore.My thesis uses the combination of case study and normative study method, to spin off listing related concepts and theories to sort out, analysis of the split listed to the enterprise itself and the market brought about by the impact; then through the case of Conba split jolly pharmaceutical, on the background of the two companies, spin off of the reasons were analyzed, from solvency indicators before and after the listing of the parent company of; at last, the thesis draws Conba split jolly pharmaceutical of the conclusion of the case study proposed some suggestions, in order to perfect our country spin off system.The main contribution of this paper lies in: with China’s capital market continues to improve and the related policies and regulations promulgated, combined with the case of Conba split jolly pharmaceutical, using the financial index analysis method, the performance before and after the split of the two companies with the same industry compared. At the same time, because of the choice in the case of domestic spin off, compared to the listed in overseas spin off from the previous case, domestic case more compared with the domestic market. It is easier to obtain conclusion matched with the national conditions, more comprehensive response to China’s capital market situation. Because I can get the limited access to the data, the data obtained is also not comprehensive enough, resulting in the analysis will be one-sided, also need to the development of Conba and jolly pharmaceutical for follow-up investigation, in order to analyze in more detail.