The Case Study Of Back Door Listing About Triumph Lead Group

This year marks the 40 th anniversary of the reform and opening up policy,accompanied by the spring breeze of policy,in the past 40 years,the private economy has made tremendous progress and breakthroughs.No matter what,all walks of life,there are a large number of private enterprises to grow bigger and stronger.Many private enterprises have developed into the industry leader in the field,with a pivotal position in the industry.However,on the whole,the characteristics that private enterprises present are still small-scale,large-quantity,and slow-moving.The reason is related to the lack of financial development in our country and the unblocked financing caused by financial repression.Whether it is "indirect financing" based on bank loans or "direct financing" based on the issuance of new shares in the securities market,private enterprises do not currently have the advantage,but through mergers and acquisitions among enterprises,they can often achieve financing needs in a relatively short period of time.However,with the revision of the Measures for the Administration of Major Asset Restructuring of Listed Companies in 2016,companies trying to go public by backdoor have to face the "most stringent history of the new backdoor law".China Securities Regulatory Commission promulgated the IPO whether the enterprise shall not be backdoor listing within three years in February 2018.These policies and regulations undoubtedly increased the difficulty of backdoor listing,listed companies and operations put forward higher requirements.In this paper,with the case of Triumph Lead Group by the shell Jiang powder to achieve the successful listing,full use of quantitative analysis of qualitative analysis combined with horizontal comparison of longitudinal comparison of a variety of analytical methods.First of all,it gives a brief overview of the basic conditions of the parties to the transaction and defines the nature of the transaction.Secondly,the reasons for the transactions between the two parties are analyzed from the perspectives of their own needs and external factors,and the design of transaction plans,asset pricing,share issuance and possible risks are analyzed.In the analysis section,focusing on the financial status,profitability,risk factors,and development direction,the company focused on analyzing the quality of the Triumph Lead Group.Through the comparison of financial dataover the years and the comparison with listed companies in the same industry,it is concluded that the company has a good operating condition and has a good development trend.In the end,the highlights of this transaction were explained,pointing out that the backdoor complied with regulatory requirements and guidance,and finally explained the highlights of the transaction,pointing out that the backdoor meets regulatory requirements and guidance and is a meaningful market resource optimization.The configuration conforms to the development trend of "industry integration".It is a meaningful allocation of market resources and adapts to the development trend of “industry integration”.