Research On The Compulsory Delisting Of Great Wall Movie And Television Co,Ltd

The delisting system of listed companies is necessary and important as a part of the capital market system.The delisting system directly affects the construction of the country’s capital market,affects the order of listed companies entering and exiting the securities market,and guides various subjects related to delisting.If the delisting system is perfect and strictly implemented,bad listed companies can be identified accurately and efficiently,and companies that do not meet the listing standards can be driven out of the capital market,the proportion of outstanding companies in the securities market can be increased,and the resources of the capital market Excellent companies can be allocated instead of being absorbed by bad companies,so that excellent companies can be better developed,and the interests of small and medium investors can also be guaranteed.At present,our country’s delisting includes active delisting and compulsory delisting.Compulsory delisting means that with the operation of the listed company,if some of the indicators do not meet the corresponding system standards,the stock exchange will force the listed company to withdraw from the market.For a long time,even if the listed companies in our country’s securities market have problems,it is still possible to use operations to avoid delisting.Therefore,compared with the markets of developed countries,our country’s delisting efficiency is not high.However,with the continuous development of our country’s economy,the capital market is also constantly being optimized,and the delisting system is constantly being optimized and improved along with the exploration.The new delisting regulations released at the end of 2020 draw on the relevant experience of the Growth Enterprise Market,and have a better understanding of the delisting behavior.The process,indicators,risk warning and other content in the project have been further improved.This thesis selects Great Wall Movie and Television Co,Ltd,a listed company in the film and television industry,as a research case for analysis.As a company that has been forcibly delisted since the release of the 2020 delisting regulations,Great Wall Movie and Television Co,Ltd has attracted widespread attention as the first film and television backdoor share.This thesis adopts the method of literature research and case analysis to analyze the reasons and influence of Great Wall Movie and Television Co,Ltd’s delisting.Firstly,the research background and research significance are introduced,and then the relevant literatures on the delisting system,the reasons for the compulsory delisting and the impact of the compulsory delisting are sorted out.frame.Secondly,it introduces the development overview,governance structure,financial status of Great Wall Movie and Television Co,Ltd and sorts out the delisting process,and analyzes the impact of its delisting.Thirdly,from the four levels of industry,strategy,governance and finance,it deeply analyzes the reasons for the delisting of Great Wall Films.Finally,by analyzing the reasons and influences of Great Wall Movie and Television Co,Ltd’s delisting,the research conclusions and enlightenments are drawn.By analyzing the specific cases of Great Wall Movie and Television Co,Ltd’s delisting,this thesis believes that in the context of the unsmooth development of the film and television industry,Great Wall Film and Television’s strategic intention is not clear enough,blind acquisition of various business sectors,and the performance of subsidiaries acquired at a high premium did not meet expectations,dragging down the group’s financial performance,Debt financing and operating mistakes,resulting in debt default,violations,resulting in a plummeting market value,and the subsequent epidemic also negatively affected the company’s performance,which eventually led to delisting.This thesis argues that the delisting of Great Wall Movie and Television Co,Ltd has resulted in damage to the financing capacity and reputation of Great Wall Movie and Television Co,Ltd,and the interests of small and medium investors have also suffered great losses.On this basis,this thesis puts forward corresponding suggestions: listed companies should pay attention to market risks,prudently formulate and implement expansion strategies,choose suitable financing methods,strengthen internal corporate governance,and strictly abide by laws and regulations;investors should also invest rationally and refuse speculation thought.