Analysis On Short-Term Finance Effect Of The Backdoor Listing In China Concept Stock

With the rapid development of capital market in China,many companies have survived the industrial upgrading and reorganization in order to expand their scale.They will acquire and restructure their students and obtain low-cost financing to enhance the competitiveness of the industry.As a special way of mergers and acquisitions and the opportunity to obtain indirect financing in the capital market,backdoor listing has become one of the hot topics in China's capital market.In recent years,the privatization of China Stocks has provoked many times,and it is worth considering how to return Chinese concept stocks to the A-share market.This paper takes Qihoo 360's successful listing of Jiangnan Jiajie as an example.Based on a detailed interpretation of the literature on backdoor listing,this paper analyzes the implementation of the backdoor scheme and studies the impact of backdoor listing on company performance from multiple perspectives.In addition to summarizing the experience and lessons,in addition to this,this paper provides some valuable lessons for the return of China's A-share market by a high-quality overseas listed Chinese-owned enterprise with a certain scale.This paper uses event research method,EVA index method and financial index method to conduct in-depth analysis and research on the financial performance impact of Qihoo 360's listing of Jiangnan Jiajie.First of all,by summarizing a large amount of published literature in the past,summarizing and summarizing the theoretical basis.Including the theoretical basis and development status of China Stock Exchange and backdoor listing,the motivation,basic model and performance evaluation method of backdoor listing;secondly,apply the theory to specific cases.By reading a large number of backdoor listing related materials,querying WND database,enterprise annual report,and listed company announcements,etc.,collect relevant data,and analyze the actual motivation and specific process of Qihoo 360 backdoor listing based on the previously summarized theory.The event research method,EVA index method and financial index method are used to analyze the changes of the financial indicators of the company after the listing of the backdoor,and the impact of the backdoor listing on the financial performance of the company is evaluated from multiple angles.Finally,by summarizing the methods of induction,based on the previous series of analysis,the conclusions are drawn and the experience is summarized,and the case of Qihoo 360 implementing the backdoor listing is made.This article is divided into six parts.The first part is an introduction.Firstly,the research background and significance of this paper are drawn,and the research on the backdoor listing of relevant literatures at home and abroad is collected and summarized,the research ideas are clarified and the research methods of this paper are clarified.The second part is the analysis of the development status and theoretical explanation of the listing of China Stocks.Firstly,it introduces the meaning and development status of China Stock Exchange and backdoor listing.Secondly,it summarizes the model and motivation of backdoor listing,and selects the performance evaluation method which is effective and applicable to this case from various performance evaluation methods.The third part is a case study of Qihoo 360 taking advantage of Jiangnan Jiajie.Firstly,it analyzes the basic situation of both sides of the backdoor transaction.Secondly,it elaborates the design and implementation process of Qihoo 360's backdoor listing.Finally,it analyzes the motivation of Qihoo 360 to choose Jiangnan Jiajie.The fourth chapter is the short-term financial performance analysis of Qihoo 360 backdoor listing.Through the three methods of event research,EVA index and financial index method,the paper analyzes the impact of backdoor listing on the short-term financial performance of the company.The fifth chapter summarizes and enlightens the experience of Qihoo 360 backdoor listing.Summarize Qiqin 360's successful implementation of the backdoor listing experience,and draw some inspiration from the backdoor companies.The sixth chapter is the lack of research and prospects.With the rapid development of China's capital market,backdoor listing has become a hot topic in the discussion between enterprises.How to re-enter the Chinese stock market to return to China's A-share market is a question worth considering now.Although backdoor listing has many advantages over IPO,the process of backdoor listing is quite complicated,and different companies will face different practical problems.Therefore,this paper summarizes the successful experience of Qihoo 360's backdoor listing through case analysis,and obtains some inspiration from it,which provides a reference case for the Chinese stocks to return to China's A-share market through backdoor.