Research On Synergistic Effect Evaluation For Fenghua Hi-Tech Mergering Naidian Technology

With the development of global economic situation and policy,especially the development of financial market has created favorable conditions for merger and acquisition(M&A),enterprises that can make rational use of M&A have achieved bend overtaking in scale and performance.Unfortunately,the failure rate of mergers and acquisitions remains high.The reason is that most companies in both M&A companies do not pay attention to pre-acquisition pre-assessment and resource integration after mergers and acquisitions,which will lead to limited or impossible mergers and acquisitions.Based on this,this paper takes Fenghua Hi-Tech merger as an example to test whether it has the synergy effect of mergers and acquisitions,and determine whether it can become a model of M&A in the industry.This has certain guiding value for the M&A practice of electronic equipment manufacturing.Based on the research on synergy effect of M&A at home and abroad,this paper analyzes the case of Fenghua Hi-Tech's acquisition of Naidian Technology.First,it analyzes the background of M&A,trading conditions and M&A motives and M&A prospects;Second,use the EVA to evaluate and predict the synergies of M&A;Finally,based on the evaluation results,the financial analysis is used to analyze and verify the synergy effect of M&A,and combined with the actual situation of the enterprise,the management enlightenment with universal application value is proposed.The study found that in the six years after the merger of Fenghua Hi-Tech,the synergy effect in the first year and the third year after the merger is significant.The reason for the second year is weakened due to the integration and it is predicted that the impact of synergies on enterprises in the fourth to sixth years after M&A will be significantly weakened.