A Study On The Performance Of Equity Transfer Of Listed Companies In China's Financial Distress

The rapid development of China's wine industry began at the beginning of reform and opening up,since the 20 th century,the wine industry has shown a blowout of the development of China's wine industry,new entrants have chosen to join stock market.After China's accession to the WTO,with the further integration of China's economy into the world economic system,the reduction of tariffs for the import of wine into China's market to eliminate the barriers.From 2009 to 2011,the share of imported wines in the Chinese wine market was 15.1%,20.6% and 26.2% respectively.The domestic wine market was squeezed.The wine industry,as a typical capital-intensive industry,takes a long period of time from the cultivation of wine grapes to the end of the wine market,which makes the wine industry from investment to income requires a lot of capital as a support.In the 2008 financial crisis in the big economic environment,the wine industry by the market shrinking,the sharp decline in sales,many wine listed companies have appeared in the debt burden of excessive financial situation deteriorated.At the same time,the comprehensive function of the winery development and utilization of the wine industry has become the goal of transformation,the wine listed companies face.opportunities and challenges need more additional capital investment to achieve sales model innovation,industrial structure adjustment,consumer culture Nurture.In this paper,ST CGW co.LTD as an example,through the study of equity transfer on its market performance and financial performance impact,hoping for other companies to solve the deterioration of financial conditions to provide reference.Based on the combination of theoretical research and case study,this paper summarizes the financial dilemma,the financial reorganization performance of listed companies and the research status of equity transfer performance of listed companies at home and abroad,and the relevant theories of the special treatment system and the related theories of equity transfer Elaborated.On the basis of the introduction of the process of transfer of ST CGW co.LTD,this paper analyzes the market performance and financial performance of ST CGW co.LTD equity rights,and obtains the equity transfer of ST CGW co.LTD to make its market performance and financial performance Improve the conclusion.In the process of writing,the paper obtains a large amount of data and indicators by referring to the financial statements of CGW co.LTD in the past calendar year and using Guotai'an database,and calculates the market performance and financial performance of ST CGW co.LTD.The innovation of this paper is to explore the impact of equity transfer on the performance of financial distress listed companies and the introduction of indicators of solvency in the study of financial performance.The research on the performance of financial distress listed companies in the past is very limited to the transfer of equity,and the calculation of financial performance rarely introduces the index of solvency.In this paper,the transfer of ST CGW co.LTD as the starting point,its CAR and reflects the solvency,operational capacity,profitability and development capacity of the indicators to calculate the financial distress listed companies to get rid of financial difficulties to provide a corresponding reference.