Study On Financial Risk Control Of Backdoor Listing Of New Energy Automobile Enterprises

With the rapid development of the new energy vehicle industry,enterprises are facing huge capital pressure.Going public is one of the effective ways to solve the capital problem,but choosing IPO(Initial Public Offering)faces problems such as high threshold and long cycle,which is not conducive to enterprises to seize market opportunities.Therefore,more and more new energy vehicle enterprises choose to go public through shell listing to achieve the goal of fast access to the capital market by acquiring or replacing shares and assets of already listed companies.Although shell listing can improve the efficiency of enterprise financing,there are also a lot of risks.One of the biggest risks is the financial risk.If an enterprise does not do a good job in financial planning and management in a shell transaction,it is likely to lead to the failure of the shell or subsequent operational difficulties.Therefore,when conducting a shell listing,enterprises must pay attention to the control of financial risks and take corresponding measures and strategies to ensure the smooth implementation of the shell transaction and the sustainability of subsequent development.This paper discusses the motivation,process,plan and effect of the shell listing of BQ,a new energy vehicle company,and focuses on the financial risks and control measures in the shell listing.This paper finds that BQ faces different financial risks before,during and after the shelling,including value assessment risk,financing risk,payment risk and integration risk.In order to effectively control these risks,BQ adopted a series of measures and strategies,such as taking advantage of the SASAC to precisely position the shell company,choosing a major asset swap,a transaction plan of issuing shares to purchase assets plus issuing matching funds for shares,and developing a personnel allocation plan and a business separation system.This paper evaluates and analyzes the financial and market effects of BQ’s shell listing and finds that its financial indicators have improved and the market has responded positively to its listing,indicating that its financial risk control has achieved good results and its shelling plan is successful.Finally,this paper summarizes the lessons learned from BQ’s shelling program and proposes issues and suggestions that companies should pay attention to when conducting a shell listing,such as selecting suitable shell resources,hiring professional intermediaries for the transaction model,and choosing a suitable shelling model.This paper aims to provide some references and lessons for other new energy vehicle companies interested in shell listing,helping them to be able to effectively control the financial risks associated with the shelling process and accelerate their growth prospects in a sustainable manner.