A Case Study On Performance Commitment In The Acquisition Of Bacchus By Bairun

At present,China’s economy is in a transitional stage from high-speed growth to high-quality development.The downward pressure on the economy is huge.It is imperative for enterprises to use capital markets for mergers and acquisitions to achieve resource optimization,industrial upgrading and power conversion.In recent years,there have been a large number of mergers and acquisitions in the A-share market.While promoting market development,there have also been some hidden dangers.Premium mergers and acquisitions are not uncommon.The performance commitment system aimed at controlling the valuation pricing risk of M&A transactions has emerged,and the performance target formulation and performance have emerged.The rationality of the commitment agreement requires further market testing,and the research object of this paper is typical.This article takes the performance commitment of the listed company Bairun Co.,Ltd.as an example,elaborates the basic situation of the merger and acquisition,the composition of shareholders and the process of mergers and acquisitions,and the performance of performance commitments.Through specific analysis,the performance commitments to Bairun,Bacchus and small and medium-sized enterprises The influence of investors reveals that the underlying performance of the merger and acquisition targets is not up to standard.The hidden high-value mergers and acquisitions are covered by the gorgeous performance of the performance commitments.The acquirer of the acquired assets under the related party transactions is full,while the interests of the secondary market investors The damaged truth has a typical reference.This paper hopes to deepen the understanding of the phenomenon of performance commitment by small and medium-sized investors in the secondary market through research and analysis of performance commitment cases,reduce investors’ misunderstanding of performance commitment as risk,guide rational investment,and continuously improve mergers and acquisitions laws and regulations for regulatory authorities.To provide a reference for maintaining fairness in the capital market.