The Study On Performance Of SINBON Pharmaceutical's Continuous M&A

Merger and acquisition is an important way to realize the rapid development of enterprises.With the constant development of capital markets in our country and the improvement of functions,more and more enterprises join the wave of mergers and acquisitions,hoping to rapidly enhance their market competitiveness through mergers and acquisitions.As mergers and acquisitions take place in full swing in the capital markets,scholars have found that the frequency of M & As of some enterprises has risen significantly,and the continuous M & A transactions have gradually become active in the capital market.Due to the promotion of national policies,the phenomenon of continuous M & A is not uncommon in the pharmaceutical industry.However,most scholars' research on the performance of continuous M & A focuses on empirical research.Therefore,this paper uses the case study form to analyze the performance of Sinobond's continuous M & A From which we can get enlightenment,with a view to provide reference for the continuous mergers and acquisitions of other enterprises in the same industry.This article focuses on the case of Sinopharm conducted continuous mergers and acquisitions between 2012 and 2015.Firstly,it combs Sinapac's continuous M & A process and sums up the motivation of Sinobombo's continuous mergers and acquisitions Long-term and short-term performance analysis and evaluation,the use of event analysis of short-term performance analysis,and then combined with financial indicators and related non-financial indicators of long-term performance analysis,and finally continuous M & A of the short-term performance evaluation,and draw conclusions.Through the analysis,this article believes that the main motivation for SINBON to conduct continuous mergers and acquisitions is to perfect the medical and healthcare industry chain,achieve business synergy,make full use of idle funds,improve capital utilization efficiency,expand diversified businesses and expand the market scale.Through the performance analysis,it is found that the short-term performance of continuous M & A is significant,but the effect is not good at the later stage.As for the long-term performance,continuous M & A improves the operation ability,development ability and R & D capability to some extent.However,Ability to even weaken solvency.Based on the above analysis,the enlightenment obtained in this paper is to achieve rapid development through continuous mergers and acquisitions,but also need to pay attention to the adoption of a variety of financing methods and payment methods in the M & A process,Avoid financial risks?...