Greenland Group Backdoor Listing Case Study

The real estate industry is a comprehensive industry in which land and buildings are the object of operations and various business activities are integrated.It has driven the energy industry,construction industry,building materials industry,water supply industry,transportation industry,finance and service industry,etc.It has become a new growth point for the national economy and made a certain contribution to China’s economic growth.However,in recent years,China’s economic development has entered a stage of the new normal,the economic growth rate has slowed down,and the real estate industry as an industry closely linked to the development of the national economy has also moved from the Golden Age to the Silver Age,and the frenzied home purchase boom has subsided.The situation of real estate developers is not as optimistic as before.This means that if real estate developers want to seek more space for development,they need to make innovations and efforts in all aspects,such as market planning,sources of funding,and product characteristics.This article will focus on analyzing issues related to real estate financing channels from the perspective of funding sources.In China’s real estate industry,the financing channels of real estate companies are generally relatively single,and the funds are mainly derived from bank loans.The average asset-liability ratio of enterprises is high,and other financing channels are developing slowly.Faced with this situation,most real estate companies choose to use listed methods to improve the operational efficiency of the company.However,due to the high barriers to entry in the securities market and strict auditing,only a few companies can meet the IPO standards.Backdoor listing becomes the best choice for listing real estate companies.This article has introduced China’s real estate market status and economic status,the real estate backdoor listing of the macro situation,and the Greenland Group backdoor Jin Feng investment listing as a case study.The success of this case provides companies that want backdoor listings to step out of financing difficulties and provide references for rapid development.It also enriches the material for backdoor listing research.It also provides lessons for other state-owned enterprises in value addition and mixed ownership reform.