Case Study On Easyhome Backdoor Listing In The Context Of Mixed Reform

In 2020,the Central Commission for Deep Reform reviewed and approved the "Three-year Action Plan for the Reform of State-owned Enterprises(2020-2022)".The promulgation of the document intuitively shows the strength of the state’s support for capital integration between private and state-owned enterprises,and does not set obstacles in the professional integration of private and state-owned enterprises.In practice,mergers between private and state-owned enterprises are one-way,and most of them are the merger of state-owned enterprises with private enterprises.There are very few cases of successful listings of private enterprises in shells of state-owned enterprises.This thesis examines the successful listing of Easyhome in the shell of Wuhan Zhongshang,which provides new ideas for the listing of many private enterprises and has great significance for the injection of private capital into state-owned enterprises and solves the problem of peer competition between state-owned enterprises.This thesis takes the successful listing of Easyhome as an example,and provides an indepth analysis of the special case of its shell listing nature as a private company’s shell listing of a state-owned enterprise.Firstly,through consulting relevant domestic and foreign literatures and relevant investigations,on this basis,the Easyhome backdoor Wuhan Business in-depth analysis,first of the backdoor listing of the two enterprises-Easyhome and Wuhan Business is briefly introduced,and then the motivation of Easyhome backdoor listing for further analysis.Then,the effect of mixed ownership reform of Easyhome through backdoor listing is analyzed,and it is found that the financial effect,governance structure and operation effect of Easyhome were significantly improved after listing.Finally,we conclude that private enterprises should seize the policy advantage to actively participate in the mixed ownership reform and private enterprises can choose suitable state-owned shell resources for shell listing.This thesis starts from the case of the shell listing of Easyhome,and takes the introduction of state-owned resources through the shell listing of private enterprises and the mixed ownership reform as the core,focusing on the motivation of enterprises’ backdoor listing,the changes of financial performance,governance structure and operation effect before and after listing,and the benefits of private enterprises’ participation in mixed reform.In the context of the country’s vigorous promotion of mixed ownership reform,it provides new ideas for the strategic listing of private enterprises.It stimulates private enterprises to actively introduce state-owned capital for shell listing,and also provides a new listing option for unlisted private enterprises.