Research On The Market Performance Of Holistic Listing Of Wuchan Group

Under the restriction and limitation of the original listing amount and scale of financing in China's capital market,many large group enterprises choose to split the group business after exceeding the quota limit.However,with the development of the capital market and the company's management,the malpractice of separating the listed companies has become one of the main reasons that hinders the development of the enterprises.As a new market-based market model,the overall listing has begun in China's capital market since 2004.It is followed by the state's commitment to promote the stock ownership reform of large mixed ownership enterprises to promote the overall listing of mixed ownership enterprises.Then the SASAC also pointed out the need to deepen the reform of state policies,including the deepening of multi investment shareholding reform,vigorously promote the aggregation of multi force conditions of the large state-owned enterprises to achieve the overall restructuring and listing,the overall listing of the enterprise to the main industry to promote the overall market,so as to improve the state-owned capital appreciation ability and the management ability of the.In November of the same year,the party's the third Plenary Session of the 18 th CPC Central Committee formally put forward the mixed ownership economy and improve the system of property rights protection,promoting state-owned enterprises to improve the modern enterprise system,to support the healthy development of the non-public sector of the economy as the four major initiatives to uphold and improve the basic economic system.Under the strong support of the existing national policies,the state-owned group enterprises complete the mixed ownership reform through the overall listing and have a strong reaction in the capital market.The significance of this paper is to first analyze the overall listing of the representative production group as a case,and to provide guidance and reference for the overall listing of similar large state-owned enterprises through the analysis of the effect of the overall listing of the case enterprises.According to the problems existing in the overall listing,the corresponding countermeasures and solutions are put forward,in order to provide examples and top level design support for the improvement of the overall listing.The evaluation of the overall listing performance is carried out through two aspects: quantitative and qualitative.Quantitative analysis uses event law to measure short-term market performance,uses financial index analysis to measure financial performance,calculates and adds economic value to measure and react the real value of events to enterprises.Qualitative analysis is conducted from multiple perspectives,such as corporate governance,ownership structure and equity incentive,combined with corporate governance theory to analyze the impact of overall listing performance.The overall listing of enterprises promotes the reform of state-owned enterprises and promotes the healthy and sustainable development of China's securities market.The effective integration of the overall market model,the injection of assets quality and the overall market resources will directly affect the overall market effect,in order to maintain long-term healthy development of the enterprises listed as a whole,should continue to improve laws and regulations and policies,and follow up the strategy system matching with the whole city.Enterprises should seize the opportunity to choose the overall listing mode suitable for their own development and take the opportunity of overall listing as an opportunity to promote the deep integration of main business and inject assets.By analyzing the case of enterprise performance analysis,found the overall market to solve the existing problems of enterprises and enhance the performance of the enterprise effectiveness and problems,and get inspiration from this case,put forward the overall listing of state-owned enterprises,for the other state-owned enterprises listed as a whole to provide reference.