The Case Study Of S.F. Express’s Reverse Acquisition Backdoor Listing Of Dingtai Xincai

At present,China has become the largest logistics and transportation market in the world.At the same time,the further improvement of e-commerce and the continuous rise of residents’ consumption scale make the strategic importance of the express industry in the Chinese market and the national economic system gradually prominent.It is self-evident that express delivery industry is of great importance to the daily life of Chinese residents,and it is of great significance to the development of our economy and society.If the express industry wants to seize the market opportunities accurately and reasonably in the huge domestic and international market and achieve rapid development,it needs to rely on the power of capital to realize the expansion of the enterprise scale.At the same time,it needs to combine its own management structure and management mode with modern express enterprise management system and management method to improve its own operation efficiency.The pursuit of their own development at the same time steadily improve the core competitiveness of management enterprises.S.F.Express has successfully established its leading position in the domestic express market with its standardized,highly efficient and high-quality business pieces.However,facing the continuous improvement of customers’ requirements for service quality and the increase of the cost of maintaining service quality,S.F.Express has gradually lost part of its price advantage in the market share seized by many competitors,and some of its market share was also eroded by competitors.Meanwhile,the expansion of the international market is also faced with a high threshold,which has formed a great obstacle for S.F.Express Group to expand international business.Based on the above background,by studying the successful reverse merger backdoor listing case of S.F.Holding,this thesis starts with the basic concepts of corporate merger and acquisition,reverse merger,backdoor listing and IPO,and then studies the motivation of reverse merger backdoor listing and merger integration theory of reverse merger backdoor listing(strategic management,management integration,financial integration).Then introduce the basic situation of S.F.Express reverse merger backdoor listing case,including the company profile of S.F.Express,the industry environment of the company,the company’s listing environment and other basic information of the company,the motivation for S.F.Express to choose the reverse merger backdoor Dingtai Xincai to go public,the process of reverse merger backdoor listing,Changes in S.F.Express’ financial status after listing in terms of solvency,profitability and operating capacity.This thesis analyzes in detail the adjustment measures and effects of S.F.Express reverse merger backdoor Dingtai Xincai after its listing.The first is the adjustment measures of management integration and their effects,including adjusting human resources to improve management efficiency,introducing strategic investors to achieve diversification of ownership structure,unified management of the group,and effectively improving management level.The second point is the operation integration adjustment measures and their effects,mainly including enhancing the core competitiveness of products,improving the market influence and business management level,high-quality business adjustment,stripping bad business three aspects.Finally,the financial integration adjustment measures and their effects are analyzed in detail,including the dual control of S.F.Express’ s revenue growth and cost control,reducing the cost of capital,improving the ability to raise funds,and reducing related transactions to reduce the group’s financial risks.The main conclusion of this thesis is that after the reverse merger backdoor listing of S.F.Express,the management integration effect is generated,the management efficiency is improved,the value chain effect of operation integration is realized,the financial risk is reduced and the financial integration is realized.By studying the reverse takeover backdoor listing process of S.F.Express,the enlightenment brought to the operation and development of the enterprise mainly includes the appropriate adjustment of the ownership structure,the improvement of the internal control of the group,the timely update of the operation and management philosophy,and the use of listing influence to improve the market share.This thesis summarizes the successful experience of other logistics enterprises in business development.On this basis,it focuses on the analysis and exploration of reverse acquisition backdoor listing,mainly studies how to achieve synergy after acquisition,summarizes and summarizes the key points,hoping to provide useful reference for enterprises’ backdoor listing,and provides experience reference for the survival and development of similar enterprises.