Research On The Motivation And Financial Performance Of Shentong Backdoor Listing

The rapid development of the Internet industry has accelerated the rise of the e-commerce industry in China,and the express delivery industry has also contributed to the economic development of China.According to statistics,from 2010 to 2018,China’s express delivery business increased by about 20.67 times.Due to the rapid development of the express delivery industry and the low barriers to entry in the industry,many competitors have been attracted to get a share of the competition,which has led to a major problem in the financing industry.In order to develop the company for a long time,expand the scale,and absorb investment,the express delivery industry has chosen to go public to achieve its purpose.Due to the strict IPO audit and complicated process in China,it is difficult to go public through this kind of method,which makes the backdoor listing become an important means for many express delivery companies to go public.This paper focuses on the case of Shentong’s backdoor case,and firstly defines the related concepts of shell companies and backdoor listings,and expounds the related theories of backdoor listing.Secondly,for the purpose of Shentong’s backdoor listing motivation and trading plan,this paper analyzes the motivation of Shentong’s backdoor listing from the perspective of the company’s own development strategy and operation situation,and expounds the trading plan of backdoor listing.Thirdly,the event research method and financial index analysis method are used to study the impact of Shentong backdoor listing behavior on financial performance from two aspects: short-term financial performance and long-term financial performance.Finally,through the analysis of Shentong’s backdoor listing case,it provides other unlisted companies with the proper choice of shell companies,rationally setting up trading plans,reasonably preventing profit risks and keeping up with national policies,thus promoting the healthy development of China’s backdoor listing.The research shows that Shentong’s backdoor listing behavior is successful,which not only brings positive effects to the short-term financial performance of the company,but also lays an economic foundation for the long-term development of the company and promotes the overall development of the company.