The Research On The Backdoor Listing Value Of Shunfeng Holding

In recent years, the domestic express industry increasingly fierce competition, the company listing has become a courier company's urgent needs to open the market. As the industry leader, Shunfeng Holdings originally planned never to be listed, in the face of the current competitive environment, in order to continue to maintain industry-leading position,also chose to be a listed company,raising working capital,expanding the company's shipping capacity and the fresh market,supplementing the company's working capital.Backdoor listing has been a hot spot in China's securities market, but also the focus of the market has always been speculation. However,express giants have used indirect manner of backdoor listing in the A-share market rencently, this phenomenon is still relatively rare. Corporate value assessment has become one of the focus as an important part for a courier company backdoor reorganization Operation naturally. This paper chooses the leading enterprises of courier industry as the object of research,and uses the case study method to analyze and analyze the process of Shunfeng holding backdoor listing in order to get some conclusions and revelation from it, so as to provide some valuable reference for investors and other relevant stakeholders It is suggested that the main contents of this paper are as follows:Firstly, it introduces the background and significance of the research, briefly describes the status quo of the express industry and the writing significance of this article,and introduces the main research contents and research methods of this paper. Secondly,it briefly introduces the basic information of both sides of the backdoor and the purpose of listing both sides of the backdoor, and then describes the process of listing the case in detail,and also gives a brief introduction to the actual value evaluation of the backdoor.Thirdly, on the basis of brief introduction of relevant concepts, assessment methods and theories, the paper analyzes the value evaluation process of both sides from the development situation of the company, the development situation of the express industry and the comparable trade of the same industry,and finds out the shortcomings of the forecasting of the business income, net profit, beta and so on, analyzing the reasons for these problems from the perspective of the securities market, the asset appraisal institution and the asset evaluation method. Finally, the conclusion and enlightenment of the case analysis are given, and some suggestions are put forward from the aspects of asset evaluation method, stock market and asset appraisal institution in order to provide reference for other courier companies to backdoor listing and protect the interests of both investors.