GHQC Back Door MLYY Listing Case Analysis

Challenges and opportunities coexist in the development of China's automobile industry.Under the background of abrupt changes in the overall development environment and frequent introduction of industrial policies,automobile circulation enterprises choose to be listed as the primary way for enterprises to break the development bottleneck,improve the financing level and improve their own operating conditions.However,strict access audit makes it more difficult for enterprises to get listed through IPO.In this case,backdoor listing becomes an important way for these enterprises to seek listing.As a leading enterprise in the automobile circulation industry,GHQC entered the capital market through backdoor MLYY and became a star enterprise in the automobile circulation industry under the background of the overall slowdown of new car sales and the increasing distribution pressure.Therefore,the case of GHQC backdoor listing MLYY is selected for relevant analysis,to find out its experience and inspiration in the process of backdoor listing,and to provide ideas for other enterprises that want to backdoor listing in the future.This paper firstly sorted out the relevant domestic and foreign literatures on shell resource selection,backdoor motivation and changes in enterprise performance before and after listing.Secondly,it introduced the theoretical basis of backdoor listing in terms of definition and process,resource allocation theory,information and signal theory and financing constraint theory.It also introduces the details of both sides,the time line and the specific process.It also analyzes the motivation of backdoor listing,the change of market share,the impact on corporate governance and the financial aspects.At last,relevant enlightenment is obtained by combining the existing problems in the case.After the analysis,we know that GHQC backdoor listing has broadened the financing channels,improved the financial situation and optimized the corporate governance structure.It can be seen that GHQC backdoor listing achieved the expected effect.Combined with the enlightenment listed at the end of the paper,I hope this paper can provide help for enterprises who want to expand financing channels or go public through backdoor in the future.