Performance Study Of Huangshi Dairy’s Diversified Mergers And Acquisitions Of Yujia Film And The Sunshine

On the one hand,the cultural industry has developed rapidly with the support of national policies.The film and television industry has set off a boom in mergers and acquisitions in 2014.On the other hand,the dairy industry has been hindered by the impact of food safety issues and other factors,and there is an urgent need for transformation and upgrading.The empirical research on M&A performance in the academic community has been relatively perfect,but the case study on diversified M&A film and television enterprises is still insufficient.Therefore,this article will use the case of the acquisition of film and television company Yujia Film and the prosperous sun in Huangshi Dairy.Based on the M&A theory,this paper briefly analyzes the motivations of its diversified M&A film companies,and then focuses on the use of financial indicators analysis and EVA economic value added method.Conduct M&A performance analysis,and finally supplement with non-financial performance indicators.Under the financial indicator analysis method,the profitability and development capability of Huangshi Dairy Industry have not been really improved,and the solvency has been weakened.The operational indicators more directly indicate that the operational capacity of the company has declined after the merger.Under the EVA economic value-added method,the EVA value of the Huangshi Group showed an"inverted U-shaped"development trend after the merger.In the long run,the company’s ability to create value for shareholders is not strong.In terms of non-financial performance indicators,although the merger did not significantly increase the market position of the Huangshi Group dairy industry,it still injected a lot of high-quality talents into the company,and the overall quality of the company’s employees improved.Combined with the criteria for measuring the success of mergers and acquisitions and the performance of all aspects of the merger after the merger of Huang’s dairy industry,it is concluded that the acquisition of Yujia Film and the Shengshi Sun in Huangshi Dairy is not a successful merger.Finally,in response to the conclusions of the case,the Huangshi Group proposed relevant countermeasures and suggestions for the enterprises that intend to diversify the merger.