A Research On The Growth Path Of Small And Medium-sized Listed Companies

With the improvement of China's economy,China's capital market has developed rapidly in the last decade.Enterprises have brought better financing channels and platforms for their own development by logging into the capital market.However,many successful IPO companies have not achieved the original intention of listing.These enterprises have not used the resources of the listed company platform to make themselves better developed.What is particularly striking is that many small and medium-sized listed companies with small and medium-sized market values have fallen into the bottleneck of development,failing to improve their own advantages and volume.This article focuses on the Kangmei Pharmaceutical industry in the traditional industry.How to use the listed platform to become an industry benchmarking company covering the whole industry chain after more than ten years of development from the initial small-cap companies.Through the analysis of the growth path of Kangmei Pharmaceutical,the internal logic of its successful development is summarized: the initial development of small and medium-sized enterprises is mainly endogenous,and the strength of the main industry is continuously improved to consolidate its own advantages;when the scale of the enterprise reaches a certain volume,The development of the enterprise is mainly based on extension.Through the integration of mergers and acquisitions in the upstream and downstream of the industrial chain,the company's own advantages are further strengthened,mastering the core resources and advantages in the industrial chain,achieving synergy between upstream and downstream,and generating the greatest economy.Benefits and shareholder value.The internal logic of Kangmei Pharmaceutical's growth path can provide reference and enlightenment for small and medium-sized listed companies that are experiencing growth difficulties.