The Case Study Of Back Door Listing About Triumph Lead Group

With the progress of economy,private enterprises have made great breakthrough and development in recent years.In all walks of life,there are a large number of private enterprises become bigger and stronger,and then embark on the road of capital market.There are two ways for Chinese enterprises to go public: IPO and backdoor listing.However,IPO listing costs are high and takes a long time,so more and more enterprises choose backdoor listing.The continuous development of information technology has brought new growth opportunities to the precision functional device industry.With the launch of 5G technology in the future,the market has a huge development space.Faced with such development opportunities,precision functional device enterprises have landed in the capital market for development and expansion.As a leading enterprise of precision functional devices,Triumph Lead Group entered the capital market through backdoor listing to join this wave.The research object of this paper is Triumph Lead Group backshell JPMF Guangdong Co.Ltd.Firstly,this paper summarized the theory of backdoor listing.Secondly,it introduced the case of Triumph Leaad Group backdoor JPMF Guangdong Co.Ltd,including the basic situation of both sides,the mode of backdoor,the specific scheme of backdoor and the outcome of backdoor.Then,it analyzed the motivation of backdoor listing.The reason for the backdoor listing of Triumph Lead Group was that the IPO time was long relatively,and Triumph Lead Group was a private enterprise with limited financing channels,which limited the expansion of the market.Finally,this paper analyzed the effect of Triumph Lead Group backdoor listing.It analyzed the increment of value of enterprises in backdoor listing with the method of event study,the performance of company before and after backdoor listing with financial indicators,and then analyzed the dilution effect of ownership structure,the synergistic effect of resources on both sides and the strategic effect of company development.Based on the above analysis,it is believed that high-tech enterprises to be listed by backdoor can choose backdoor companies that can produce synergistic effects with their own resources,and choose appropriate backdoor methods according to their own situation,but they should pay attention to the integration of resources after backdoor,so as to realize the continuous improvement of enterprise value.