Honggao Design Backdoor Listing Case Financial Performance Analysis

Compared with the general enterprise,the biggest advantage of listed companies is to raise funds on the stock market,so as to promote the rapid growth of the company.Therefore,the listing of listed companies has become a rare resource,the so-called shell refers to the listing qualifications of listed companies.Because of some listed companies conversion mechanism is not complete,not good at management,it is performance is not satisfactory,they loss of the ability to raise funds in the stock market,to make full use of the "shell" of the listed company,it must carry on the asset restructuring,backdoor listing is to make full use of the resources listed on the reorganization of the form.Backdoor listing can optimize the allocation of resources to improve the operating conditions of listed companies.At the same time,because the backdoor listing of the company in the stock market to raise funds on a large scale,it can also help the company to solve the problem of shortage of funds to solve the backdoor,to promote the economic development of the backdoor.Although the backdoor listing and convergence of IPO standards,but there are still their own advantages,backdoor listing of the heat is still unabated,there are still many companies want to achieve through the backdoor listing.However,many companies failed in the process of backdoor listing,there are many companies even if successful backdoor listing,the subsequent development of the existence of a lot of contingent liabilities,capital black hole and other issues.Therefore,how to achieve successful backdoor listing and standardize the operation,for many companies is a very important issue.In this paper,Through the research and analysis of the design of backdoor listing.This theory includes the backdoor listing,backdoor listing of the concept of mode analysis and backdoor listing motivation and performance research,and on the basis of in-depth analysis of Hong gao design backdoor case,through the study of Hong Gao design backdoor case draws the relevant experience and enlightenment.In the case study,the author first introduces the situation of the two companies,including company profiles,equity changes,business analysis,as well as analysis of their respective backdoor and shell.Next introduces the scheme of backdoor listing,for replacement of assets and issue shares to buyassets of the two step,then evaluate the effect analysis of backdoor listing,analysis before and after the listing of the operation,performance,through the analysis of the performance before and after the backdoor listing,backdoor found after the profitability,operation ability and development ability have been improved.Finally,we get the enlightenment and experience of Hong Kong's successful backdoor listing: including the rational choice of shell resources and the backdoor listing model,and give full play to the role of intermediaries and other experience.