| As the global M&A boom continues to heat up,and the amount and volume of domestic and foreign mergers and acquisitions increased significantly.Every successful M&A can help companies achieve significant economic growth.Under the market economy system with maximum profits,more and more enterprises regard mergers and acquisitions as an important way to expand rapidly.The expansion of the capital market has accelerated significantly,and continuous and frequent mergers and acquisitions of the same company in the market often occur.In this market environment,intelligent manufacturing enterprises represented by the robot industry have developed rapidly and become typical representatives of manufacturing innovation and development in the era of information technology.With the attention of countries around the world to intelligent manufacturing,China has also successively issued industrial preferential policies,creating a good environment for the development of the robot industry.More and more companies are involved in the robot industry,which has also set off a wave of intelligence.In this process,mergers and acquisitions have also become an important tool for enterprises to expand their markets and transform their strategies.Continuous M&A is a product of the development of the capital market,and it cannot be explained and analyzed using the theory of simple M&A events,so,this study conducts an in-depth analysis of the mergers and acquisitions of Xinshida based on the perspective of M&A performance,and explores the impact of continuous M&A behavior on corporate performance on enterprise performance.Based on the results of domestic and foreign scholars on mergers and acquisitions and other related research,this study first introduces the development and main business of Xinshida,secondly,analyzes and elaborates the process,motivation and characteristics of continuous M&A according to the announcement and annual report issued by Xinshida,and analyzes the corporate performance after continuous M&A based on short-term perspective,long-term perspective and non-financial performance perspective,and finally,draws research conclusions based on the analysis results of continuous M&A behavior combined with the characteristics and process of M&A.The successive acquisitions of Xinshida throughout the industry reflect the background of the era in which companies enter new industries as they seek strategic transformation.Exploring new ways and expanding new models through frequent strategic acquisitions to create new development space and profit growth points for enterprises is a key task that the entire industry needs to solve urgently.Based on the evaluation of the performance of Shanghai Xinshida after successive mergers and acquisitions,this paper puts forward experience suggestions for similar enterprises,so as to improve and promote the long-term industry transformation system and promote the healthy and orderly development of China’s economy. |