Research On The Financial Performance Of The Focus Media's Backdoor Listing

The capital market of our country started late and the early system was strictly limited.Since the end of last century,a large number of companies with high technology and new economy went to the overseas market and formed a wave of the middle of the stock.In recent years,the domestic economic system has been gradually improved,the capital market is booming,and the comparison of overseas listing is underestimated,short,and lawsuits,and more and more of the companies are planning to end the overseas listing and return to the domestic capital market.At present,the listing can be done through two ways:IPO and backdoor.In view of the many disadvantages of IPO listing,most companies will choose a quick way to borrow the shell.How to choose shell companies to return to the domestic market through the way of the shell,which is worthy of reference in the design of the trading scheme and how to improve the performance of the backdoor company is very important to the company which is to return.Therefore,it is of great significance to study the case of backdoor listing in China.In this paper,the research object of this paper is the successful return of the Chinese stock company,Focus Media,which is listed on the domestic market by the way of borrowing the shell.First,it introduces the basic situation of the two parties,the operation business and the financial situation of the shares.It analyzes the internal and external reasons of the Focus Media's choice of the way to go on the market,the motivation of the shell and the sale of the shell.This paper analyzes the model of this case,and then analyzes the short-term market effect of the case company by using the event analysis method.From the financial data of the backdoor to the long-term performance analysis,from the angle of company value,equity structure,financing,management status and so on,it analyzes the changes in the performance of the Focus Media after the backdoor listing.The backdoor transaction is more successful,showing that the company's market is worth upgrading,the overall financial situation is good,and business development is more optimistic.Finally,based on case studies,the successful experience and Inspiration of this case in listing are summarized.Taking the Focus Media as the research object,this paper takes the special background of the return of the stock market as the premise,excavate the bright spots in the backdoor listing scheme,deeply analyze the performance performance of the company after the backdoor listing,and finally summarize the successful experience of the backdoor,and draw the following conclusion:first,the choice of the shell company is very important,and the choice of the high quality shell company can be fast.To realize the listing plan;two is to choose the appropriate model of the loan shell can play the role of alleviating the pressure of capital and avoiding the risk of integration;the three is that the success of the loan shell can not be separated from the business ability of the company itself,so it is necessary to strengthen its own business ability and pay attention to the development of the long-term performance,and to ensure a good development after the listing;four After listing,we should give full play to the role of capital market,broaden the financing channels,prevent financial risks and improve financial performance.The research content has good practicality and enriches the case of the success of the listing of the borrowed shell.It provides a positive reference for the listed companies to be listed,the plan design of the listing,the strategic planning of the company and the improvement of the financial performance.