Analysis The Motivation And Effect Of SF Express Backdoor Listing

With the rise of the e-commerce platform,the express delivery industry has developed rapidly and has occupied an increasingly important position in China’s national economy.From the perspective of the development of the express delivery industry in recent years,the business volume of the express delivery industry has surged,and the scale of the industry has grown,which has become a new driving force for China’s economic development.However,there are also some problems in the development of the express delivery industry.The homogenization of products is serious and the gross margin of the industry is continuously declining,which puts great pressure on the industry.More and more express delivery companies,especially private express delivery companies,are seeking a transformation and they are turning to the capital market to seek development.The backdoor listing has a shorter time compared to the IPO listing,and the review is simple.Therefore,in addition to Zhongtong Express’ s choice to go to the US,Yuantong Express,Shentong Express,Yunda Express,and SF Express all opt for a backdoor listing.This article selects the typical case of Shunfeng Holdings’ s backdoor,Dingtai New Materials,adopts normative research method and case study method,and based on efficiency theory,rent-seeking theory,and synergy theory,briefly discusses the basic situation of China’s express delivery industry and the SF Holdings backdoor.The listing process of the new material detailedly analyzed the causes of the listing of Shunfeng Holdings’ backdoor listings and the reasons for Dingtai’s new materials to obtain shells.It also analyzed the financial and development status of Shunfeng Holdings’ backdoor listing in terms of operating performance and the company’s development strategy.It shows that the motivation for this backdoor listing is driven by both internal and external factors.The effect of SFH’s backdoor listing is basically a positive effect and has a tremendous boost to the overall development of the company.Overall,the backdoor listing is a success.The research conclusion of this paper hopes to provide reference and experience for other express delivery companies to market and further improve the competitiveness of China’s express delivery companies,and to promote the healthy development of China’s express delivery industry.