Research On The Motivation And Performance Of SF Holding’s Backdoor Listing Of Dingtai New Materials

Since 2020,the issuance of documents such as The notice on the implementation opinions on further reducing logistics costs and The implementation plan for promoting the deep integration,has defined the general direction of in-depth intelligent and automation improvement for China’s express industry in the next few years.With the increasing scientific and technological content of the express industry,it also needs more sufficient research and development funds and a broader development platform.As one of the main financing methods of private enterprises in China,listing has always been a hot topic.However,due to the high access threshold of China’s securities market,IPO is not an ideal way for all enterprises.For enterprises looking forward to listing in the mainland,backdoor listing has become a better choice for "curve saving the country",especially for the logistics industry.As the leader of China’s logistics industry,SF Express has always been a unique existence in the logistics industry because of its unique timeliness service,highly praised service quality and the pattern of offering service all year round.Its transformation and upgrading will not only be of great significance to itself,but also will affect the development direction of its domestic logistics enterprises.Therefore,this paper will take the backdoor listing of SF express as an example,combined with the logistics industry background and policy environment and other factors,to explore the motivation of backdoor listing,use the latest data in 2021,use the event research method,financial index method and EVA analysis method to study the financial performance before and after the backdoor listing of SF express,and then analyze its non-financial performance analysis from the perspective of core competitiveness,market share and international popularity,explore the impact of backdoor listing if SF express from multiple angles,and draw relevant conclusions and enlightenment.Through in-depth analysis of the case of SF Express backdoor Dingtai new material listed,this paper draws the following conclusions:The motivation of SF backdoor listing includes saving listing time,broadening financing channels and other reasons to improve financial performance,as well as non-financial performance considerations such as expanding international popularity and improving competitiveness.Some financial indicators of SF Express’ s backdoor listing still have shortcomings due to various reasons,but the overall indicators are very stable and perform prominently in terms of market response and shareholder income.Therefore,overall,the performance is good and its goal of backdoor listing is basically achieved.SF express’ s backdoor listing of Dingtai new material is still a correct decision and a successful case.