Research On Motivation And Financial Performance Of Backdoor Listing Of Berry Genomics

The background of this case is that in 2016,the new "measures for the management of material assets reorganization of listed companies" was issued,which re-required the previous backdoor listing in terms of rules,and stricter requirements were placed on the target companies of backdoor listing.After the introduction of the new regulations,few cases can fully comply with the backdoor listing,and most m&a companies want to circumvent the "5+2" restrictions in the new regulations.Because under the new rules,once the target company is identified as backdoor listing,it must comply with the "initial public offering stock listing management measures" related provisions.Therefore,the backdoor listing cases under the new rules of mergers and acquisitions have more research value.After the introduction of the new rules,for backdoor listing has taken place a great change.The enterprises that can be listed through backdoor after the new regulation are already qualified for IPO.However,it takes a long time to wait for the traditional IPO listing method in China's capital market.Even though there is a scientific innovation board IPO listing in Shanghai stock exchange,the restrictions on the industry are strict.In particular,as the second ranked enterprise in the industry,this case is waiting for the listing of the leading enterprise in the industry at the time node,and wants to pass the car at the corner by means of backdoor listing.Therefore,in order to avoid the problem of long waiting time,the most optimal and fastest way is to use backdoor listing method.This paper mainly studies the case of Berry Genomics backdoor Tian Xing instrument,and analyzes the internal and external motivation of backdoor listing and the influence of motivation on financial performance.This paper only analyzes the financial performance related to motivation so as to combine the motivation and financial performance of the company.In the process of analyzing financial performance,relevant data were analyzed by comparing with the company law,excluding the influence of other factors on the financial performance of backdoor listing.When analyzing the change of the company's comprehensive strength,the factor analysis method is adopted to analyze the financial performance so as to obtain the comprehensive ranking.Through the research,it is concluded that the motivation related to the backdoor listing of Berry Genomics will have a positive effect on the financial performance of the company.In the end,this paper puts forward enlightenment and Suggestions from three aspects: backdoor process,backdoor motivation and financial performance.In the backdoor process,due to the changes in the steps related to backdoor after the new regulation,this paper puts forward inspirations and Suggestions mainly from the perspectives of adapting to the changes of backdoor steps and introducing merger and acquisition fund in the backdoor process.In the motivation of backdoor will be from the choice of the way of listing and the choice of shell resources from the two aspects of inspiration and Suggestions.In terms of financial performance,this paper mainly elaborates the problems found in financial performance analysis and the deficiencies in financial performance analysis.Backdoor listing,as an important way in mergers and acquisitions.By analyzing the motivation of backdoor listing and the financial performance before and after backdoor listing,we can better understand the changes in the capital market.For the emerging gene sequencing industry like Berry Genomics in this case,after the introduction of merger and acquisition fund,there may be a series of merger and reorganization cases,and its subsequent arrangement in the capital market is more worthy of attention and research.