A Study On Back-door Listing Of Guoxuan High-tech Company

With the development of social economy,enterprises in the market face more and more intense competition,in order to seek better development,business decision makers have to take a positive strategic approach,through mergers and acquisitions,etc.to change the company structure,open new financing channel.Among them,the business combination has always been the focus of social concern,and backdoor listing is China's capital market in recent years,a hot topic.For enterprises,if you want to get the funds needed for enterprise development,the quickest way is to enter the stock market through listing.However,China's initial public offering of funds for the audit system is very strict,making a lot of intention to market but not meet the requirements of the enterprise can only look sigh,while these provisions at a certain level limit a lot of ability to develop enterprises Future growth.Under such conditions,the backdoor listing presented to the backdoor enterprises to obtain the right time to control the backdoor enterprises,in order to achieve indirect market.In this paper,Guoxuan Hi-tech backdoor Dongyuan electrical listing case for the study,the use of case analysis and financial indicators analysis of the case.This paper first introduces the research background,theoretical and practical significance of backdoor listing,and the research status at home and abroad.And then discuss the concept of backdoor listing,shell resource definition,backdoor listing motivation and enterprise asset valuation methods outlined and so on.Followed by the main Xuanxuan high-tech backdoor Dongyuan electrical case study to understand the background of the backdoor,the reasons for the sale of the shell,backdoor listing of the operation process,as well as the listing of pricing issues and payment.In addition,the detailed analysis of the financial performance and market performance of enterprises before and after listing is mainly related to the comparison of IPO and backdoor listing,the rationality of listing pricing,the risk analysis of listing and the performance before and after listing Compared.Finally,through the analysis of the above chapters,the conclusions and enlightenment of this paper are put forward.I think the future of small and medium enterprises in the backdoor listing can learn from the case of Guoxuan Hi-Tech,as Dongyuan electrical appliances as clear structure,the financial situation of clean shell resources;at the same time to learn the country Xuan Gaoke backdoor process how to avoid internal risks;how to do backdoor After the business whether the profitability,or solvency,operational capacity and development capabilities have been greatly improved.