Case Study On The Holistic Listing Of JH

With the completion of the reform of non-tradable shares,the overall listing in the capital market in China.Many state-owned enterprise group began to make the overall listed,such as the port group,baosteel group,etc.,and in the future business proved the success of the overall listing process.This makes our country state-owned enterprise group and capital and pay more attention to the overall stock market listing this hot issue.In this background,this article selects JH company absorbed JQ group to achieve the overall listing as a case,mainly for the motivation and the overall impact of listed after the analysis,thus is concluded that the overall listing of relevant enlightenments and Suggestions are put forward.First of all,native and abroad about the document of the overall listing and merger and acquisition made a comb,system this paper introduces the overall listing of relevant concepts and basic theory,secondly introduces the JH company listed on the overall situation.Is analyzed after the effects of overall listing to JH company: first of all,USES event study method to analyze the market for JH company listed on the overall response;Secondly,the employer,operating income and assets to illustrate the scale enlargement of JH company,and the resulting market share increase;Through the measure of the absolute quantity and relative quantity of affiliated transactions that overall listing effectively reduce JH company of related transactions;From equity ownership structure and the change of the internal governance structure,to illustrate the overall of the impact of the corporate governance of listed to JH company;Finally,compared with the industry as a whole,to weed out the overall listing outside factors for JH company financial performance,the influence of JH financial index analysis method are used to analyzed the listed company as a whole after the change of financial performance.Listed in this paper,the main conclusions include : the overall basic completed JH company expected goals,but also brought negative influence to the company,the profitability is not high,as a result of asset injection JH company profitability decline.Corresponding revelation is : at first,in the overall listing should meet the company'sdevelopment strategy,flexible design overall listed company shall,according to their own actual situation;Second,in the choice of the injection of assets,should be careful to consider when to prevent blind expansion,should introduce rules constraint assets access standards;Finally,as to take care of the healthy and orderly development of capital market of our country and should continue to strengthen the supervision of overall listing.