The Study On The Motivation And Performance Of The Offcn Education Backdoor Listing

Due to the limitation of early policies,it is difficult for domestic education to enter the domestic capital market.With the promulgation of the law on the promotion of private education in 2016 and the detailed rules in 2018,which allows educational enterprises to choose whether to make profits or not.Against this background,Many education enterprises are looking for the right time and plan to take a share.IPO is the most common way of listing,but its listing process is complicated and strict.In contrast,backdoor listing is very friendly for enterprises with special requirements.Through backdoor listing,enterprises can not only reduce the cost of listing,but also integrate enterprise resources in a short time,so as to promote the development of enterprises and achieve the purpose of listing.In 2018,Offcn Education successfully backdoor Yaxia Automobile listed in A-share market,becoming the first vocational education and training enterprise in the real sense to get listed in A-share market in China,which has A good reference for other education enterprises.This paper adopts the method of case analysis to elaborate and summarize the research results of domestic and foreign scholars from the three aspects of the mode,motivation and performance of backdoor listing.At the same time,it also sorts out relevant concepts and theories.It focuses on the in-depth discussion of the case of Offcn Education backdoor listing,and analyzes and explores the motivation of backdoor listing.This paper discusses the advantages,disadvantages,opportunities and threats of public education from four aspects,and evaluates its performance of backdoor listing from three perspectives: shareholder wealth,financial performance and non-financial performance.On this basis,relevant conclusions and inspirations are drawn,which can provide reference value for other enterprises in the industry to get backdoor listing.Through the analysis of the case study,found that Offcn Education backdoor listing has achieved great success,increases the shareholder wealth,financial performance and non-financial performance got a significant boost.Offcn Education successfully backdoor listings because it timely grasps the direction of national policy,selects the appropriate shell resources and shell model,these are worth learn other listed companies.