Research On The Symbiotic Integration Mode Of Haier Smart Home Merger And Acquisition Of GEA

China’s home appliance industry has experienced a number of dividend policies such as demographic dividend,popularity of home appliances,home appliances to the countryside,and so on.The home appliance market has been transformed into an inventory market,and the inventory accumulated in the incremental market has led to the contraction of the home appliance market scale and the decrease of the total retail sales of home appliance products to a certain extent.With industrial upgrading and consumer demand iterations,home appliance products are gradually combined with the latest technology.In the past 40 years,the home appliance industry has undergone great changes in both production and manufacturing and marketing channels.Especially in the past 10 years,the home appliance industry has undergone qualitative changes with the rapid innovation of science and technology.In recent years,with the promotion of "One Belt And One Road",regional economic and trade cooperation has been continuously strengthened.With the support of this,the transnational merger and acquisition mode,which can more efficiently integrate industrial resources and enhance market competitiveness,has been favored by Chinese home appliance enterprises and become the main mode of foreign investment and expansion of the home appliance industry.It not only achieves the purpose of integrating resources,but also increases the competitiveness with international home appliance brands,in an attempt to occupy a place in the world home appliance market.Based on this research background,this paper selects the case of Haier Smart Home merger and acquisition of General Household Appliances,and studies the symbiotic integration mode of its cross-border merger and acquisition.First of all,this paper combs the relevant literature,describes the definition of cross-border M&A and three main types,in addition to the most common horizontal M&A,there are vertical M&A and mixed M&A.Then the more commonly used integration model of cross-border mergers and acquisitions is simply analyzed,and the integration and performance of cross-border mergers and acquisitions are studied.Then,based on the background of household appliances,this paper expounds the basic information of the two companies and the process of merger and acquisition,briefly analyzes the causes and risks of the merger and acquisition,and focuses on the symbiotic integration mode after Haier Haier Smart Home’s merger and acquisition of General Household Appliances.Through the integration of strategy,business,human resources,organization and culture,Haier Smart Home has formed a symbiotic ecological network after the acquisition of general household appliances,and the effect of symbiotic integration is remarkable in the enterprise’s operation management,business growth and other aspects.Finally,this paper analyzes the performance of Haier Intelligence Group before and after the merger by means of financial index method,event study method and non-financial index method.According to the analysis of financial indicators,through the analysis of the profitability and growth ability of Haier,it is concluded that after the merger and integration,the economic scale of the enterprise is significantly expanded,the economic benefit is significantly improved,and the synergistic effect of operation is obvious.Through the analysis of the operating ability and cost control ability of Haier,the operating ability of Haier has been improved after the merger,and the management cost and financial cost have not soared,and the management synergistic effect has been obtained to a certain extent.Through the analysis of the assets and liabilities of Haier’s wise men,it is found that although it will bring the pressure of debt repayment in the short term after the merger and acquisition,Haier’s wise men have obtained certain financial synergies through the analysis of the asset-liability ratio and profit level.According to the event research and analysis,after the merger,the CARit of Haier showed an overall growth trend.In terms of the growth range,investors and the market were generally optimistic about the merger activity,and positive feedback to the event was conducive to improving shareholder value.According to the analysis of non-financial indicators,Haier and GEA have realized complementary advantages in their main businesses and achieved rapid growth in market share.