Performance Analysis Of Semiconductor Listed Companies’ Continuous Mergers And Acquisitions

With the continuous development of information technology,the semiconductor industry is particularly important in such an information age.Semiconductors can be found everywhere in a variety of products and components from all walks of life.Because of this,the semiconductor industry is the cornerstone of many other industries and plays a vital role.There is a certain gap between China’s semiconductor technology and the top level,and it has long relied on imports.With the beginning of Sino-US trade frictions,China has continuously attached importance to the development of the semiconductor industry,empowered the development of the semiconductor industry,and introduced relevant policies and guidelines,and the development of the semiconductor industry is in a favorable trend.In the case of rapid expansion of the semiconductor industry,it is therefore necessary to carry out frequent mergers and acquisitions.In 2015,semiconductor mergers and acquisitions reached a climax,although the "deleveraging" policy in 2018 cooled down the mergers and acquisitions,but with the trend and experience of industrial development,the semiconductor industry mergers and acquisitions will heat up again.Therefore,the continuous mergers and acquisitions of the semiconductor industry have certain research significance and have also attracted widespread attention.Shanghai Will Semiconductor Co.,Ltd.is a listed company in the semiconductor industry,and has achieved outstanding results through continuous mergers and acquisitions.This article comprehensively analyzes the successive mergers and acquisitions of Will after its listing in 2017.Firstly,from the perspective of event research method,the market response changes of Will shares in continuous mergers and acquisitions are studied.Then,taking the balanced scorecard as the framework,from the perspectives of financial dimension,customer dimension analysis,internal operation dimension,learning and growth dimension,explore the performance changes and hidden dangers brought by the continuous mergers and acquisitions of Will shares,and try to summarize the reasons for it,so as to learn from it.Through research,it is believed that in the process of continuous mergers and acquisitions,the industrial structure of the enterprise has been improved,the core technical capabilities have been significantly improved,the market has been effectively expanded,and a good synergy effect has been shown.Both the performance and development prospects of the company have been positively affected.But at the same time,it also leaves certain hidden dangers due to continuous mergers and acquisitions,such as: solvency problems and supply chain problems.In the process of continuous M&A,enterprises should carefully select M&A objects,carefully plan the M&A method,and pay more attention to the role of integration after M&A,so as to better play the positive role brought by continuous M&A and avoid hidden dangers and risks.