Research On Financial Performance Of Great Wall Computer Continuous Merger

In recent years,China's capital market has developed rapidly and its operating mechanism has been continuously improved.Mergers and acquisitions activities have become more frequent in the domestic capital market,and the transaction amount has also reached a new high.Gradually,enterprises have regarded M & A activities as a regular means of capital operation in order to obtain high resources and enhance their core competitiveness.As an important pillar industry of national economy,electronic information industry has also entered a period of high incidence of M & A.In the face of the new demand for national development and the new trend of industry development,the electronic information industry has not performed well in independent research,development and innovation.The state has issued relevant policies to encourage the electronic information industry to integrate industrial resources through M & A activities,enhance core R & D capabilities,and realize industrial upgrading.Great Wall computer,as a state-owned enterprise,responds to the call of the state.It not only has frequent mergers and acquisitions,but also involves a large amount of money,which is very representative.Therefore,this thesis selects Great Wall computer as the research object.First of all,this thesis clarifies the research background and significance while combing and evaluating the domestic and foreign literature on continuous mergers and acquisitions,and expounds the relevant concepts of continuous mergers and acquisitions,the financial performance evaluation method and the theory of m & a motivation from the theoretical perspective.Secondly,the case of continuous M & A of the Great Wall computer is introduced,which mainly describes the background of the electronic information industry,the brief introduction of the Great Wall computer and the course of continuous M & A,and then analyzes the motivation of continuous M & A.Thirdly,on the basis of the financial data of the Great Wall computer from 2011 to 2018,on the one hand,the solvency,profitability,operating ability and development ability of the Great Wall computer are compared and analyzed by using the financial index method combined with the industry average;On the other hand,the EVA analysis method is used to comprehensively analyze the ability of the Great Wall computer to create wealth for shareholders by calculating the EVA index so as to reflect the real value of M & A.Finally,from the financial point of view to summarize theeffect of continuous acquisition of Great Wall computer,draw relevant experience,so as to draw inspiration from the case and put forward suggestions to further improve the financial performance of Great Wall computer.The above research is expected to provide some practical guidance for the implementation of continuous mergers and acquisitions in electronic information enterprises.