Research On The Cause And Performance Of Ciwen Media's Backdoor Listing

The cultural media industry plays an important role in the process of economic growth in China.The state pays more and more attention to it,and promotes the development of the cultural media industry through the introduction of a series of policies.Especially in recent years,the rapid development of the Internet has injected new elements into the development of cultural media enterprises.In the face of the opportunities and challenges under the new situation,the trend of improving the competitiveness of the industry and optimizing the business layout has become more and more clear.In order to solve the large amount of funds needed in the development process,cultural media companies need to go on the stage from the background,undoubtedly,going public is the only way.Under the constraints of the high IPO threshold and the industry's own characteristics,backdoor listing has become a popular choice for cultural media companies.This paper studies the motivation and performance of backdoor listing,first combs and summarizes the previous research results,and extracts the theoretical basis of this paper;Then it analyzes the development status of the cultural media industry,and analyzes the overall situation of cultural media companies 'backdoor listing to provide practical support for the study of the case of Ciwen Media's backdoor listing of Hexin.Then,based on the characteristics of the entire industry of cultural media,this paper analyzes the motivation of the event of Ciwen Media's backdoor listing.Later,it uses the method of event research,accounting index analysis,and EVA evaluation methods to study long-term performance.Comparing this event with the representative IPO listing in the industry,it is found that Ciwen Media's backdoor listing behavior has brought good performance to the company in the long term and short term.Finally,this paper puts forward some feasible suggestions for Ciwen Media from such aspects as enhancing risk defense capability,paying attention to the marketability of products and enhancing its operational capability.It also provides ideas and references for other cultural media enterprises from the perspective of broadening financing channels,innovating financing models,choosing appropriate listing methods,and attaching importance to the training of professional and technical talents.