Research On The Backdoor Listing Financial Performance Of S Company

At present,China’s economy has entered a new normal.With the continuous advancement of supply-side structural reform,China’s economic restructuring is imminent.The express delivery service industry plays a very important role in the process of national economic restructuring,and it has a significant impact on China’s economic development and prosperity.In addition,with the vigorous development of the "One Belt and One Road" and e-commerce,the development space of express delivery industry in overseas regions,the vast western regions,and rural areas is huge,and the express delivery industry has entered a new period of development opportunities.The increasingly fierce competition in the industry,the continuous price war,fierce competition,development needs and new opportunities have prompted major express delivery companies to seek listing financing.S company is the leading company in the express delivery industry,and its successful backdoor listing is representative.Based on reviewing and summarizing related research results at home and abroad,this article confirms the research direction of this article,and analyzes the concept of backdoor listing,the motivation of backdoor listing,the operating model of backdoor listing,and the performance evaluation of backdoor listing.Based on these theoretical foundations,this paper sets out the relevant research framework and applies it to the case study of S company backdoor listing.First of all,the two sides of the backdoor listing,the transaction background,the transaction process are described in detail.Combined with the development of the industry,the motivation for the backdoor listing of S company were analyzed in depth.Secondly,it studied the influences of backdoor listing of S company’s backdoor listing on the equity structure and operating capabilities of listed company.Backdoor listing led to changes in the controlling rights of listed company.At the same time,backdoor listing has changed the main business of listed company,and realized the cross-industry transition of the operating business of listed company from manufacturing and processing industry to express delivery services.The operating conditions of listed company have been improved.Once again,it studied the financial performance of S company’s backdoor listing,a longitudinal and horizontal comparison analysis of the financial performance before and after the backdoor listing has been made.On the whole,the backdoor listing of S Company has brought active and positive influence to both sides of the transaction,and achieved mutual benefit and win-win for result.However,through horizontal comparison,S company exposed some obvious deficiencies.Finally,in response to the above deficiencies and the fierce competition in the express delivery industry,corresponding countermeasures and suggestions are proposed.This article analyzed and studied the case of S company’s backdoor listing,which enriched the research contents of the backdoor listing of the express delivery industry.It provides some reference value for the private express delivery company financing and performance improvement from the perspective of backdoor.