A Study On The Financial Performance Of Double-Platform Backdoor Listing Of Real Estate Enterprises

As the national macro policy of real estate industry regulation tend to be normalized,and in the increasingly competitive market environment,only by their own accumulation of funds to Banks and other financial institutions and the traditional financing borrowing has failed to meet the demand of enterprise growing money.Although our capital market is perfect,but due to the restricted IPO audit conditions and listing process long time waiting in line,make more and more real estate enterprises choose implementation by means of backdoor listing,backdoor listing has become a real estate enterprise,the optimal way to access to capital markets for funds.However,in the increasingly fierce industry competition,only by constantly expand the scale and master a steady source of funds is the key to winning,meanwhile,foreign capital market potential huge capital source and development opportunities.Therefore,the major domestic real estate enterprises are in the domestic and overseas listed in the form of double platform with a shell on the one hand can meet the demand of real estate enterprise's capital,avoid single platform financing risk;On the other hand,it can also obtain great development opportunities for enterprises abroad,and dual platform backdoor listing will become the inevitable trend of the development of real estate enterprises.As a well-known large real estate enterprise in China,L group proposed the development strategy of "dual platform" in the context of narrow industry financing channels,and successfully realized dual platform backdoor listing.,therefore,in this paper the L group as the research object,with A double platform backdoor listing financial performance as the research content,through the backdoor listings double platform at home and abroad and the financial performance of the relevant research literature,and will reverse purchase theory,synergy theory as the research foundation,using ratio analysis and contrast analysis respectively from A and H shares of A single platform analysis and double two perspective,comprehensive analysis of financial performance indicators by longitudinal and transverse comparison,analysis the L group in double platform backdoor listings before and after the change of financial performance,to the listed after the debt paying ability,operation ability,profit ability and development ability,and evaluate the market performance,and L group in double platform summarizes the successful experience of backdoor listings,at the same time,in view of the analysis of financial performance indicators found in the process of financial risk is higher,and business problems such as rapid expansion,the L group put forward the optimization of corporate capital structure and control the enterprise development speed and so on.Hope that through this article research,can provide the double platform for other real estate enterprises backdoor listing case reference,help real estate enterprises solve the financing difficulties,to speed up integration of industry resources,to promote better and faster development of the real estate industry,promoting the development of domestic real estate enterprises to diversification and internationalization.