Study On The Performance Of Cross-Border M&A Of HNA

With the rapid development of the world economy,countries are increasingly connected by globalization,and their political,economic,and cultural influences are increasing.At the same time,international competition is becoming increasingly fierce.In order to open up markets,learn from new technologies and methods,and acquire more resources,companies in various countries are looking for opportunities and ways to “go global”,in which cross-border mergers and acquisitions have become countries.An important way for enterprises to invest abroad.Since the 1990 s,China’s economic situation has been changing with each passing day,and tremendous changes have taken place.Chinese enterprises have taken the lead in state-owned enterprises and become over-private enterprises,gradually trying cross-border mergers and acquisitions.Then,with the continuous development of China’s economy,its international status has continued to rise after its accession to the WTO,its comprehensive strength has been continuously strengthened,and the number and amount of cross-border mergers and acquisitions have gradually increased,which has attracted the attention of all sectors of society.At the 16 th National Congress,the Chinese government put forward a development strategy of “going out” to encourage Chinese enterprises to boldly conduct cross-border cooperation with Europe,open up overseas markets and seek new opportunities to realize the blue ocean strategy.Although the development process of cross-border mergers and acquisitions by Chinese companies is relatively short-lived compared with European and American countries,they have been able to find a path that suits them for many years.In recent years,on the one hand,due to the continuous enhancement of the core competitiveness of Chinese enterprises and the invaluable experience of enterprises in developed countries such as Europe and the United States in cross-border mergers and acquisitions,Chinese enterprises have become new and personalized in cross-border mergers and acquisitions.For example,in the main body of mergers and acquisitions,private enterprises and state-ownedenterprises ardual-led;in the industries involved in mergers and acquisitions,energy and minerals are gradually shifting to high-tech industries such as electronics,finance,and communications;in the source of M&A funds,multi-channel financing models have emerged.In 2013,China proposed the "One Belt,One Road" strategy,which not only provided preferential policies and convenient conditions for Chinese enterprises to go abroad,but also provided a good opportunity for the era of large-scale cross-border mergers and acquisitions.Near the “Belt and Road”,there are nearly 65 countries and regions including Singapore and Malaysia,most of which are developing countries and emerging economies.These countries are generally relatively weak in terms of infrastructure,Internet technology,and finance.Therefore,the development prospects of Chinese cross-border mergers and acquisitions are very broad.This paper introduces the development process of Chinese companies in cross-border mergers and acquisitions,as well as the motives and new features of M&A in the context of the “Belt and Road”.Based on the real case “Haihang Industry Cross-border M&A Singapore CWT Logistics” as a reference,the company analyzes its financial indicators to judge the increase and decrease of its performance,and evaluates its performance for other companies along the “Belt and Road”.The cooperation of the state provides reference and theoretical basis,and it has practical significance for rationally utilizing the “One Belt and One Road” policy and promoting cross-border M&A cooperation and win-win.