Performance Evaluation And Risk Analysis Of M&A Of Lens Technology Co.Ltd Industry Chain Keshengkeli

Since the "whole industry chain" model was proposed,industry chain M&A has been widely used in the consumer electronics industry,which is conducive to the consumer electronics industry to create an efficient and concise supply chain ecology.As a leading enterprise in China’s consumer electronics industry,Lens Technology Co.Ltd’s industrial chain M&A is of great significance and influence on Enterprise M&A.This paper studies the performance and risks of Lens Technology Co.Ltd industrial chain M&A,so as to provide reference for enterprises to carry out industrial chain M&A.This paper is divided into six parts.The first part introduces the research significance and background of this paper,and summarizes the research status of industrial chain M&A,M&A performance and risk at home and abroad;The second part discusses the related concepts and theories of this paper;The third part selects Lens Technology Co.Ltd industrial chain M&A KeSheng KeLi as the research object,and introduces the basic situation of Lens Technology Co.Ltd,industrial chain M&A scheme and the motivation of industrial chain M&A;The fourth part first discusses the impact mechanism of M&A events on enterprise performance,and then evaluates the long-term and short-term performance of Lens Technology Co.Ltd industry chain M&A;The fifth part analyzes the risks faced by Lens Technology Co.Ltd in industrial chain M&A;The sixth part is the summary and Enlightenment of China’s M&A industry chain.In terms of the M&A motivation of Lens Technology Co.Ltd’s industrial chain,Lens Technology Co.Ltd chose KeshengKeli for the purpose of expanding new business,conforming to the enterprise’s strategic development and realizing technological synergy.In terms of M&A performance of Lens Technology Co.Ltd industrial chain,through the event research method,this paper finds that the M&A event of industrial chain has a significant impact on the stock price of enterprises,and has a positive synergistic effect in the short term;From the medium and long-term perspective of enterprise operation,through financial index analysis and EVA analysis,it is found that enterprise industrial chain M&A has negative synergistic effect.Although it improves the operating income and solvency of Lens Technology Co.Ltd,it performs poorly in terms of net interest rate,operating capacity and expenses,and the EVA after M&A decreases significantly compared with that before M&A.In terms of M&A risks of Lens Technology Co.Ltd industrial chain,the risks faced by Lens Technology Co.Ltd in the process of M&A of industrial chain can be divided by stages.The risks in the preparation stage of industrial chain M&A mainly include information asymmetry risk and uncertainty risk of future income;The risks in the transaction stage are divided into M&A cost risk and M&A payment risk;The risks in the integration stage mainly include resource integration risk,technology integration risk and business integration risk.Through the research of this paper,we can get some enlightenment to China’s industrial chain M&A:first,in the early stage of M&A,enterprises should do a good job in due diligence and pay attention to market fluctuations.Second,in the process of M&A,we should reasonably evaluate the enterprise value and choose the appropriate payment method.Third,after the completion of M&A,M&A enterprises should improve the integration efficiency and prevent the integration risk.