A Case Study On Series Merger And Acquisition Of China Grand Automotive Serveres Group Co.,Ltd.

Automobile is a commodity other than real estate,and its degree of marketization is also high.The automobile service market has also become particularly important.Although the domestic auto dealership industry is becoming more and more mature,the phenomenon of low industry concentration and decentralized operations has not been fundamentally changed.To deal with the pain points in this regard,many large auto dealer groups have begun to increase mergers and acquisitions in their daily operations,especially in recent years.With increased market freedom,mergers and acquisitions have become an effective way for business expansion.With the advantages of scale and synergy,auto dealership companies can better grasp the industry development trend and maintain better profitability.In the merger and acquisition cases of large auto dealer groups,Guanghui Automobile is a large merger and acquisition company.Since its listing,it has frequently carried out mergers and acquisitions.It has a strong representative significance in the merger and acquisition cases of the automobile dealership industry.This article takes the crazy merger and acquisition of Guanghui Automobile for case studies.First,it introduces the research background and significance of this article,outlines the relevant theories of mergers and acquisitions,sorts out and summarizes the literature related to mergers and acquisitions at home and abroad,and reviews the literature.Second,it introduces the basic situation and business of Guanghui Automobile and outlines the history of M & A and transactions of major mergers and acquisitions since the listing of Guanghui Automobile to 2018.Then,it analyses and researches M & A cases of Guanghui Automobile,including the motivations of M & A,the performance of M & A and M & A risk and control.Among them,the performance of M & A mainly analyzes the synergies of operation,finance and management.From the analysis of the synergies of M & A,it is believed that the series of M & A of Guanghui Automobile has enabled companies to quickly achieve a nationwide layout,improve the brand structure,and exert scale advantages,producing good synergy and good performance.In terms of merger and acquisition risks,it analyzes the main M & A risks of Guanghui Automobile and the main measures taken to control the risks.Finally,it points out the inspiration and conclusion of the case,providing examples that other dealers can learn from in the future.With the downturn in the automotive market,more and more large auto dealers are beginning to find new outlets.In order to maintain development,more auto dealers will join in the M & A activity in the future.The series of M & A by Guanghui Automobile has increased its competition Power and market share,maintained good profitability and consolidated the industry's leading position.It is a successful case that is worthy of discussion and research.Through research,it is found that,first,the series of M & A of Guanghui Automobile has produced scale advantages and synergies,improved performance,and created value for enterprises;second,Guanghui Auto ?s greatest risk is the impairment of goodwill,and more effective countermeasures must be taken;third,Guanghui Automobile has advantages in post-merger integration.Post-merger integration is related to the success or failure of mergers and acquisitions.