Goodwill Impairment Effect Of Changyuan Group's High Premium Acquisition And Reorganization And Its Preventive Measures Analysis

In recent years,under the background of the rapid development of China's capital market,it is difficult for enterprises to meet the goal of rapid expansion in the capital market just by virtue of their own ability.Therefore,it has become the choice of key multi-listed companies to accelerate their expansion by means of capital merger and acquisition to improve their competitiveness in the capital market.Under this background,the mode of merger and reorganization has gradually become an important means for enterprises to expand their operation scale and improve their operation efficiency.In more and more mergers and acquisitions in the capital market,the high premium m&a model is more and more common.Under the background that the transformation of enterprises through merger and acquisition is conducive to the optimization of resource allocation in the a-share market,mergers and acquisitions with high premium also bring certain risks to listed companies.In high-premium transactions in the market,the target company usually makes a high performance commitment to support the pricing of the enterprise.Once the target company fails to complete the promised performance after the agreed time,the merger and acquisition transaction will be faced with such risks as goodwill impairment,large amount of capital is difficult to recover or even loss to damage the shareholders' equity.This paper case of mergers and acquisitions with long garden group in 2014 began to change its original direction,in addition to continue to the original business,the company started by means of acquisition in a new industry chain layout,according to public data,from 2015 to 2017,three years' time,long garden group successively by the high premium of zhuhai terry,long garden and eagle and completing the acquisition,the new material of lithium for its electric car factory materials,intelligent equipment and smart grid equipment three business lines to complete the layout.The evaluated value added rate of the above m&a cases of changyuan group is much higher than the average premium level of the market,which is a very typical case of high premium acquisition.So based on the long garden group high premium m&a project of three unit as the research object,through m&a,high value,high premium high performance unfulfilled promises and high premium business after the merger integration problems of long garden group causes huge goodwill and goodwill effect is analyzed,the long garden group merger cases of goodwill impairment impact on enterprise.Finally,through the case study of this paper,the author puts forward the countermeasures against the impairment of goodwill under the merger and reorganization of listed companies from the perspectives of regulators,listed companies and investors,so as to provide A reference for the high premium mergers and acquisitions prevalent in the a-share market in China.