A Study On The Influencing Factors Of Zhejiang Jiantou's Backdoor Listing

Since 2014,the state has gradually strengthened the supervision of the financing of urban investment companies.Urban investment companies have begun to transform.The traditional model of participating in primary land development and operation has become increasingly unsustainable.Urban investment companies have begun to participate in the operation of cities and industries.In the management process,from originally relying on government financial support to develop a main business with certain profitability.Some of the urban investment companies with stable profitability are not satisfied with the current development and need more funds to expand their main business.These urban investment companies want to take advantage of the policy to obtain funds in the capital market,start to acquire equity in listed companies,and do Good preparation for backdoor listing.However,backdoor listings of urban investment companies are problematic.Unlike other industries,urban investment companies have high debt-to-asset ratios and imperfect internal control mechanisms,which bring negative risks to backdoor listings.Therefore,the problem to be solved in this article is: what influencing factors should be paid attention to in the backdoor listing of urban investment companies,through targeted countermeasures to reduce the risk of negation of the backdoor listing,and provide a certain reference value for the managers of other urban investment companies,which can effectively prevent the state-owned enterprises.Loss of assets.Since urban investment companies are the product of economic development at a special stage,and there are fewer cases of urban investment companies listing,scholars have studied less,and more research on the motivation,performance,and economic impact of backdoor listings in other industries.Therefore,this case can be used for existing To supplement the case of backdoor listing.This article adopts the literature research method to lay the theoretical foundation for the whole article,and then adopts the case analysis method to analyze Zhejiang Construction Investment Group Co.,Ltd.(hereinafter referred to as "Zhejiang Construction Investment")conducts a specific analysis of backdoor listing,using comparative analysis and financial index methods to analyze the influencing factors of Zhejiang Construction Investment backdoor listing.The study found that the influencing factors of Zhejiang Construction Investment's backdoor listing include:asset-liability ratio,net cash flow from operating activities,net cash flow from investment activities,profitability indicators,internal control and financial basis.Therefore,in order for urban investment companies to successfully go public,they need to do: First,strengthen internal control to ensure financial level;Second,enhance profitability and increase market share;Third,optimize the company's asset structure through asset reorganization;Forth,select the best Excellent company.