Case Study On China OFFCN Edu Backdoored Ya Xia Auto

With the deepening of China's shareholding reform,the stock issuance system has been improved,and the freedom of financing in the securities market has been greatly improved.Backdoor listing is a financing method that can expand the listing path of unlisted companies and make it a simpler way to list outside of an IPO.In the face of some policy changes,the evaluation of shell resources has become more complicated.The assessment of shell resources will affect financing costs and the company's growth process.Different valuation calculations will bring different results to the company.The proprietary market resources of the capital market have always been the target of competing companies,and backdoor listings are called "substitutes" for IPOs to meet the market's valuation needs,and the operating model is constantly developing to maintain the order of the capital market.Although backdoor listing can largely integrate the company's resources,it can also optimize the company's configuration,thereby promoting the company's development and achieving its goals.However,at this stage,some companies still suffer from backdoor failures due to other reasons,such as unclear capital structure,complicated internal company structure,or poor management of the company.As a result,the company's performance after the listing is poor,and the company continues to make losses.Continue operations.This article selects the recent public education backdoor of the leading education stocks in the public sector.Among them,the public buying company is the leader in the education industry.This backdoor listing has also become the first backdoor listing of the education sector.Therefore,the choice of this case is very Typicality.This article will use case study method,market analysis method,financial indicator analysis method and comparative analysis method to analyze and analyze the company's backdoor motivation and the economic consequences after the backdoor listing.The problems that may exist and the advantages of the merger between the two sides are,and provide valuable suggestions for the cases selected in this article and other backdoor listing transactions.Aiming at the above problems,this article discusses the construction of the evaluation system step by step from four parts: The first part is the introduction.The second part is the company profile of the two parties and the motivation of buying and selling shells.The third part is the study of the economic consequences after the backdoor listing.After analyzing the economic consequences and financial drivers in the above sections,the conclusions and enlightenments are finally drawn,so as to make recommendations for improvement to institutional investors and market regulatory agencies.From the analysis,it is concluded that the overall economic performance of CPG Education after its backdoor listing is better.The market responded well in the short term,and shareholders' wealth was greatly improved.From the customer dimension and growth dimension,it also shows that the merger and acquisition of OFFCN further expanded its own value.However,the integration after the backdoor listing is a long-term process,and due to industry factors,the public education has its own shortcomings,such as poor solvency and operating ability,and excessive expansion may cause a certain degree of financial problems.In order to avoid further losses in the later integration development process,this article puts forward specific suggestions for the problems existing in integration.For other companies preparing to go backdoor,this article also has certain reference value.