Great Wall Electronic Company Backdoor Listing Financial Performance Research

Under the background of deepening the reform of state-owned enterprises and the integration of military and civil affairs,various military industrial groups are actively promoting the transformation of mixed ownership,optimizing the allocation of resources and improving the utilization rate of resources.Listing high-quality assets through direct listing,merger and acquisition,material assets reorganization and other means.In this paper,Great Wall electronic company backdoor in CEC Corecast Corporation Limited listed as a case study,the backdoor before and after the financial performance evaluation.The backdoor listing began with a cash purchase by China shipbuilding heavy industry,which became the controlling shareholder of China Electronics Corporation,of the full stake in CLP.It then sold all of its assets and liabilities to China electronics Corporation in a cash transaction.In the end,CGN purchased csic's wholly-owned subsidiary Great Wall electronic company in the form of private placement,so all the main businesses of Great Wall electronic company were injected into CEC Corecast Corporation Limited and the backdoor listing was completed.Based on the Great Wall electronic company backdoor wide power through public financial performance evaluation,using the event study method,financial index analysis method,EVA evaluation method before and after the completion,performance commitments to backdoor listings stock returns of listed companies,debt paying ability,profit ability,operation ability,development ability,economic value added,etc are analyzed.The final conclusion is that the short-term financial performance and long-term financial performance of the company have increased after the Great Wall electronic backdoor China telecom listed.In 2016,China securities regulatory commission issued new restructuring rules,making backdoor listing more difficult.It is hoped that the research and analysis in this paper can provide some reference for enterprises that want to go public through backdoor listing.