| With the establishment and operation of the New Third Board,China has set off a boom of listed companies merging with the New Third Board.On the basis of the development of traditional industries,seeking new profit growth points,listed companies choose to expand the industrial chain,business integration,and expand the production scale by merging with the New Third Board enterprises.However,because the New Third Board market is in the stage of development and exploration,various policies are not perfect,information transparency is not high,and listed companies have insufficient understanding of the financial risks of merger and acquisition,which increases the possibility of failure of merger and acquisition,or sown hidden risks for merger and acquisition.In the face of this situation,listed companies should actively explore the financial risks in the process of merger and acquisition,and take timely measures to prevent financial risks,which is very important for listed companies to successfully acquire the New Third Board.This paper introduces the research background and significance of listed companies’ merger and acquisition of NEEQ enterprises,sorts out domestic and foreign research literature,determines the research content and methods,points out the innovation points of this paper,and expounds the current situation and financial risks faced by listed companies’ merger and acquisition of NEEQ enterprises on the basis of relevant theories of financial risk.Using the case method,selection of communication service industry the typical three-dimensional m&a case of giant network science and technology financial risk analysis,a detailed introduction of mergers and acquisitions both sides of the profile and the m&a process,giant network science and technology of 3 d communication m&a faced in the process of payment risk,integration risk valuation risk,financing and merger and acquisition of new three board specific risks,a detailed analysis,The paper also summarizes the preventive measures taken by 3D Communication in the face of financial risks.According to the quantitative and qualitative methods,four financial indicators,namely business growth ability,profitability,debt paying ability and operation ability,are selected to make a comparative analysis of the financial situation before and after the acquisition of Megan Technology by 3D Communication.It is concluded that the preventive measures taken by 3D communication can effectively control the financial risks in the process of merger and acquisition and reduce the possibility of financial risks.Based on the case analyzed in this paper,some reasonable suggestions are put forward to prevent financial risks in the merger and acquisition of New Third Board enterprises by Chinese listed companies,which can be used for reference by other merger and acquisition enterprises.To prevent valuation risks,it is necessary to conduct comprehensive due diligence investigation on target enterprises,select scientific evaluation methods,and adopt performance rewards.To prevent the risk of financing payment,it is necessary to broaden financing channels,adopt flexible payment methods,and sign agreements.To prevent the risk of integration,we should formulate reasonable management strategy,financial integration system,integration organization personnel structure and so on. |
