Research On Financial Performance Of Back Door Listing Of Real Estate Enterprise

The real estate industry is not only an industry that has a high correlation with the country's macroeconomic trends,but also can pull the whole body into action.Judging from the industrial structure,in recent years,the real estate industry has not only promoted the progress of the industry itself,but also promoted the development of secondary industries such as construction,energy,transportation and service industries.Nowadays,the high-growth and high-profit era of the domestic real estate industry is over.In addition,the growth rate of real estate investment continues to decline,inventory keeps rising,sales growth appears to be weak,deleveraging pressure is great,and the country's multiple policies overlap.The effect continues to be released and the real estate industry economy is worrying.The real estate industry is a capital-intensive industry,and it is in an important stage of reform and transformation.It needs a lot capital.Therefore,in order to raise more funds and widen the financing path,real estate companies have embarked on the road to listing.This paper takes Greenland Group's backdoor listing as an example.First to introduce the research background,purpose and significance of this article,summarize the literature,and introduce the research content and research methods of this article.Secondly,introduce the related concepts and theoretical basis of backdoor listing,and then describe to the case.The description includes the background of the real estate industry,the basic situation of the lender and the shell,the analysis of the causes of the backdoor and the shell,and the description of the plan for the listing of the Greenland Group and changes in the ownership structure before and after the listing.Afterwards,the core part of this paper describes the changes in the financial status of the Greenland Group's backdoor listing.The main changes are reflected in the following aspects: From the changes in the current ratio and quick ratio,it can be seen that the short-term financial status of the company has been improved and the financial risks have been reduced;in terms of profitability,the ability to manage their own operations and funds,and the utilization of assets have increased;changes in operational capabilities have tended to balance in the past two years.After the government's influence has been eliminated,backdoor listing has a positive effect on operating capacity;in terms of development capacity,the three indicators of main business revenue growth rate,net profit growth rate,and total asset growth rate are stable.Then summarize the successfulexperiences of the backdoor listing of Greenland Group on the financial aspects of the company:Broadening the company's financing channels to reduce financial risks,optimizing the equity structure to improve the financial performance of the company,improving the corporate governance structure and gaining new interest growth points.Finally,we summarize the implications of this case for other real estate companies wanting to finance through the backdoor listing model,including selecting the right shell company,formulating a reasonable listing plan according to the company's situation,broadening the financing channels while vigilance against financial risks,improving the governance structure and optimizing resource allocation.