Research On Financial Performance Of Yunda Express Backdoor Listing

As the Internet has become an important part of people's lives,online shopping has gradually replaced physical shopping as one of people's preferred shopping methods.The express delivery industry,as a bridge connecting buyers and sellers in online shopping,has rapidly increased its demand.In this environment,many newly established small and medium-sized enterprises do not hesitate to use price wars and other means to gain a place in the industry in order to seize market share.In addition,many express delivery order demanders with strong bargaining power Unit prices have been kept low,and various problems facing the express delivery industry have gradually emerged.Based on this,many old express companies began to try to obtain financing through capital injection,in order to cope with the price war within the industry,and build a new industry barrier,thereby strengthening their competitiveness and occupying a high position in the express market.The successful listing of Shentong at the end of2015 has become a symbol of the formal injection of capital into the express delivery market.Since then,Santong Yida and SF Express have also chosen to list and raise funds in domestic and foreign markets.The listing of Chinese private express delivery companies has become a trend.Regarding the choice of listing methods,due to factors such as long domestic IPO listing review time and strict listing conditions,most express delivery companies have to choose a backdoor listing method in order to be listed as soon as possible.Only Zhongtong Express chose to go to the US for IPO listing.In the face of such a background that express delivery companies have entered the capital market for financing,Yunda Express may also encounter problems that are increasingly emerging.This article takes Yunda Express backdoor listing as an example,on the basis of briefly introducing the relevant concepts of backdoor listing and related research results at home and abroad,focusing on the analysis of the case of Yunda Express backdoor Xinhai shares listing.First,introduce the two sides of the borrowing and selling shell,analyze the industry background,development process and shareholding structure of the two sides,and sort out the process and specific plans of the Yunda Express backdoor listing;second,analyze the motivation of the Yunda Express backdoor Xinhai shares,combined with case analysis Method and financial performance analysis method toinvestigate the performance of Yunda Express before and after backdoor listing,and to judge whether backdoor listing can improve the performance of Yunda Express through the comparison of its own financial indicators before and after backdoor and the comparison with the same industry;finally,this article concludes: Yunda Express' s operating performance has been effectively improved,and its corporate value has also been improved,in line with the original intention of this backdoor listing.