Performance Analysis Of Overseas Mergers And Acquisitions Of Non-ferrous Metal Enterprises Based On EVA

In recent years,with the continuous implementation of chinese "going out" strategy and the "Belt and Road" policy,a large number of domestic enterprises have begun to embark on the road of overseas mergers and acquisitions,in order to open the international market and take enterprises to the international stage,determined to Create internationalization.The development and utilization of minerals and mineral resources have become a strong support for chinese economy and one of the reasons for the rapid development of chinese economy.With the rapid economic development,the demand for resources continues to increase.chinese per capita resource occupancy is relatively small and unevenly distributed.In addition,the non-renewable characteristics of most mineral resources cause the situation of resource depletion and form a resource supply and demand situation.contradiction.Non-ferrous metal enterprises are going to increase chinese resource reserves,enrich mineral resources,expand industrial scale and improve production technology through overseas mergers and acquisitions.Enterprises want to quickly expand their scale and go to the world.Successful overseas mergers and acquisitions are a very effective method,but the journey of mergers and acquisitions is not smooth,and companies will inevitably face many problems.Therefore,in order to help enterprises better understand the opportunities and challenges brought by overseas mergers and acquisitions,it is imperative to more comprehensively evaluate the impact of overseas mergers and acquisitions on the performance of enterprises and establish an appropriate performance evaluation system.In this paper,the case study method and EVA value evaluation method are used to study the overseas M & A performance of nonferrous metals enterprises with TFM company located in DRC as an example.Firstly,this paper analyzes the research background and significance,shows the overall framework and methods of the research,and summarizes the innovation in the research process.Secondly,it focuses on sorting out the main theoretical views of relevant experts and scholars at home and abroad in recent years,including the research on the motivation of overseas M & A of enterprises and the research on performance evaluation brought about by it,and briefly introduces the theory of M & A performance and the method of M & A performance evaluation,so as to provide theoretical basis and method guidance for performance analysis.Thirdly,it briefly describes the current situation of non-ferrous metals mining and processing industry and the participation of enterprises in the industry in overseas M & A,introduces the M & A enterprises and the merged enterprises,and shows the causes and consequences of Luoyang molybdenum industry's overseas M & A combined with the background and motivation of M & A.Then through the analysis of financial indicators,the long-term performance of the M & A is investigated,and the results of performance evaluation are obtained.In the research process,EVA value method is mainly used to analyze the performance of Luoyang molybdenum industry before and after the M & A,and the results are compared with the traditional index evaluation method,so as to evaluate the M & A performance more accurately.Finally,the paper summarizes the conclusion of the case of Luoyang molybdenum's overseas merger and acquisition of Congo TFM company,and summarizes the experience and Enlightenment of the enterprise's overseas merger and acquisition,so as to provide reference for other enterprises.Through the comparison of various indicators,it is found that the overseas M & A has a positive impact on the long-term performance of Luoyang molybdenum industry,especially in the late stage of M & A integration,which makes the enterprise further expand the international territory in the low period of industry development and successfully enter the forefront of the colored metal industry.The conclusion is as follows: in order to successfully complete overseas M & A and achieve certain M & A benefits,enterprises should reasonably choose M & A objectives,seize the best opportunity of M & A,make full preparation for M & A,fully consider the synergy,and strengthen the later integration.At the same time,the government should also give strong support in policy and other aspects.