Case Analysis On Backdoor Listing Of Shanghai Yunda Freight Corporation

China's express industry is developing rapidly based on the rapid development of China's market economy and emerging electronic commerce in the 21 st century.At the same time,the competitive pressure of express delivery industry is increasingly intensified due to the low concentration of the industry,roughly the same profit model,low gross profit rate,serious homogenization and other reasons,and the profit space is gradually reduced.Therefore,most express delivery companies hope to obtain the funds needed for their own development through the capital market platform and the identity of listed companies.The so-called backdoor listing,in fact,is a special form of mergers and acquisitions,is in addition to IPO listing(short for IPO)is a major way of listing.Conventional,IPO is often limited by policy,has a more complex process with long time limit for examination and approval,the backdoor listings listed on the advantage of low cost,time is short,so compared with the traditional IPO,based on backdoor listings to express enterprises listed financing to achieve the purpose of the earlier and more popular with the Courier companies.This paper uses case analysis method and combines with the development status of express delivery industry,and focuses on the basic concept,listing method and process of backdoor listing in the theoretical part.The part of case analysis firstly introduces the basic situation of backdoor party and shell company and the brief overview of the listing process.Secondly,from the angles of Yunda freight backdoor listings for analysis,concrete analysis the backdoor listings Yunda freight agent,process,effect and risk,etc.,based on the specific case analysis,the corresponding conclusion,and puts forward corresponding Suggestions: for express delivery enterprises backdoor listing,should not only to the enterprise itself and the operating status of shell company fully consideration,based on the perspective of is good for their own development to choose listed shell company and model,also want to backdoor listing after the risk aversion attaches great importance to;In addition,relevant government regulators should constantly improve policies to provide a good environment for the development of the industry.By analyzing the case of backdoor listing of Yunda freight,we can summarize the success of Yunda freight in backdoor listing,provide successful experience for the sameindustry,and help those express companies that want to go public through backdoor listing to provide valuable information for reference.