Research On Chinese Concept Share In M?A Of The Listed Companies

On the one hand,as the trust crisis in the overseas market of Chinese concept share becomes more and more prominent and the profit model of them is not understood overseas in recent years,the value of the whole sector is underestimated,and the development of Chinese concept stocks enterprises is also limited.At the same time,the characteristics of high P/E ratio in the domestic market are also attracting these Chinese concept share.Therefore,Chinese concept share choose to return to the A share market.On the other hand,as China's economic development has entered the new normal,the extensive development model is no longer suitable for the current environment.Therefore,listed companies hope to learn from the advanced management experience and improve the current unreasonable equity structure by introducing capital.Under such a background,it is necessary for us to sum up a "win-win" mode for them,which can not only achieve the return of high-quality enterprises,but also benefit the development of domestic listed companies.At present,domestic policies only focus on some high-tech industries and strategic emerging industries.Therefore,the case of BTS Hotels' acquisition of home inns is representative.Since the return of the Chinese concept share has only the final result,this paper analyzes only from the perspective of domestic listed companies,through the merger and acquisition motivation of BTS Hotel and the research on the ownership structure and performance of BTS Hotel after the merger.And sum up experience from it,providing reference for other domestic listed companies and Chinese concept share seeking cooperation.This article is mainly divided into two parts from the content.The first part includes the first chapter.It mainly introduces the return of Chinese concept share and mergers and acquisitions.And different methods are compared and analyzed,which provides a basis for the specific analysis in the following text.The second part is composed of the second chapter and the third chapter.This part introduces and analyzes the specific case.The second chapter introduces the basic situation of the BTS Hotel and the Home Inn,then analyzes the transaction timing and arrangement of the merger,and finds that the privatization time is reasonable,and a variety of payment methods have been used to reduce some of the financial pressure by BTS Hotel.Both parties have fully prepared in advance to avoid the heavy financial pressure and reduce the later impact of capital pressure.The third chapter uses the financial analysis method to evaluate the merger and acquisition.It is judged whether the equity structure of BTS Hotel is optimized after the merger by calculating and comparing.Whether profitability,development capability,solvency,etc.have been improved.Although the acquisition of the BTS Hotel did bring a good development opportunity,which improved the development potential of the BTS Hotel and achieved good results,but the merger has brought some pressure to the company,so it should be reasonably learned and well planned to successfully achieve the result of "win-win" for other companies.