Research On The Motivation And Performance Of MicroPort's Spin-off Of Xinmai Medical

With the rapid growth of China's economy,many domestic enterprises will choose to optimize and integrate internal resources in the capital market in order to maximize their own economic interests.However,the original forms of M & A are not suitable for all enterprises,blindly pursuing the speed of scale and neglecting the waste of resources brought by the quality of M & A,which makes the enterprises have a certain negative impact.In this context,split listing this new mode of operation came into being.The company can solve a series of problems such as insufficient capital and asymmetric group information faced by the parent company,and at the same time,it will attract external investors and the market masses to strengthen their understanding of the enterprise's split business,so as to achieve "1 1>2" effect.After solving the problem of lack of funds,the funds can support the long-term development of enterprises.At the time of the outbreak of the epidemic in 2020,the pharmaceutical industry has attracted more and more attention,especially as the necessity of industrial upgrading of medical device enterprises,which makes it a new choice for such enterprises to split up and list.In order to achieve the transformation and upgrading of enterprises.This paper takes Xinmai Medical as the case object to analyze the split listing behavior.Firstly,from the research background of split listing,the research method of theory and case analysis is adopted in the case.After understanding the key points of the research,this paper analyzes the motivation of Xinmai Medical to implement the split listing,starting from four aspects: financing channel,incentive level,information asymmetry and performance,and taking financial index and non-financial index as the standard to measure the motivation of realization.Finally,the experience of the case analysis is summarized according to the case,and the problems and corresponding solutions are summarized on this basis,so as to achieve the ultimate goal of writing this paper.The case of Xinmai Medical spin-off shows that the split listing will attract market investors to pay more attention to and invest in study,because the development of long-term performance of enterprises is affected by many factors.Therefore,this paper combines the motivation and performance of Xinmai Medical Company to carry out the split listing,not only to analyze the listed behavior of Xinmai Medical Company,but also to have a certain reference role for the enterprises that are preparing to split the subsidiary companies into listed companies.