| With the development of global economy,it shows its advantages to expand the scale of enterprises by means of acquisition.Therefore,more and more countries expand the scale and occupy market share by means of enterprise acquisition.Under this background,in June 2013,Ji ’an Group successfully listed in shanying thesis.This thesis introduces the research background and significance,summarizes the theories and concepts about the financial performance of reverse acquisition by consulting relevant information and literature,studies the reverse acquisition cases of Ji ’an Group by literature research,case study and comparative analysis,and analyzes the reasons of reverse acquisition,namely,outstanding environmental protection advantages,market competitiveness improvement,industry crisis and synergy effect at the time of acquisition.Combined with the guidance of agency theory,synergy theory and other related theories,this thesis constructs a Through the combination of Du Pont analysis method and EVA method,the advantages and limitations of the two methods,as well as the necessity and possibility of complementary advantages,are compared in the analysis process.The enterprise performance before and after the acquisition is compared vertically,and the industry level after the acquisition is compared horizontally,thus a relatively complete enterprise financial performance evaluation system is constructed.Through the research,it is found that in about 10 years after the reverse acquisition,the performance of shanying thesis has been greatly improved.After a long period of development,the enterprise has been at a high level in the industry.Except for some years,due to the impact of the industry crisis and the economic crisis caused by the epidemic,its profitability,operating ability and debt paying ability are in a good development trend.Finally,the analysis of this case puts forward some suggestions such as cautious and rational acquisition and adjustment with the times. |
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