Study On The Caiuses And Efects Of The Backdoor Listing Of Private Enterprises In China

In the past 40 years of reforming and opening up,Chinese private compnies have achieved rapid development,their economic strength has been greatly enhanced,their competitive position has been continuously improved,their status in the national economy has been significantly enhanced,and the rapid economic development of our country has been promoted.In order to realize the strategic development goals,private enterprises often expand their production and operation scale through listing,thereby enhancing their market competitiveness.However,at present,Chinese implementation of the approval system requires stricter IPO requirements.Backdoor listing,as another way of listing companies,can solve the problem of high starting cost and high demand.Therefore,some high-quality private enterprises have adopted this method to achieve The purpose of listing.But,after these privately-owned enterprises are listed in the backdoor,can their operating conditions,performance levels,and development capabilities be improved? Can private enterprises obtain positive effects through backdoor listing? These problems are not only closely related to the decisions of investors and managers,but also closely linked to the interests of small and medium shareholders in the company.Therefore,in order to solve the above-mentioned problems faced by private enterprises in the process of backdoor listing,it is necessary to analyze and study them.Based on the theory of M&A and reorganization,this article deeply analyzes and studies the backdoor listing of private enterprises in China from the perspective of motivation and effect,which has important theoretical value and practical significance.The listing of Mei Nian Health's backdoor is a case of typical private enterprise backdoor listing.Based on the theory of M&A and reorganization,this article analyzes and studies the actual situation of the Mei Nian Health,in order to obtain the motivation and effect of the private enterprise's backdoor listing.This article first elaborates the research background and research significance,ideas and methods,main content and basic framework,as well as possible innovations in this paper.Then it expounded theconcepts of backdoor listing and private enterprise,and introduced the theory of merger and reorganization of backdoor listing.Then it fully describes the plan and implementation of the Mei Nian Health backdoor listing,including the basic conditions of the two companies before the backdoor,the plan design and implementation process.Afterwards,the case analysis method and comparative analysis method were used to profoundly analyze the causes of the Mei Nian Health backdoor listing and the effects of backdoor listing on equity structure and corporate governance,financing structure and capital structure,industry status,and financial performance.Finally,it draws inspiration from the case study of the Mei Nian Health,makes suggestions,and points out the limitations and prospects of this article.This article takes the backdoor listing of Mei Nian Health's success as an example,and analyzes the motivations and effects of its backdoor listing,and summarizes its successful experiences,providing reference for other private enterprises that want to go public through backdoor listing.