Risk Study Under The Continuous Mergers And Acquisitions Of Lepu Medical

In the current market environment with rapid changes in market direction and rapid economic development,the general normal development and strategic policies of enterprises may not be able to keep up with the pace of the market and meet the needs of consumers.As a new method of enterprise development and growth,M & A has gradually attracted the attention of economic market and financial market in recent years。 As a core strategy and method,M & A can bring more and more enthusiasm to enterprises to open up new markets.Through vertical mergers and acquisitions,enterprises can control the raw materials of their own products and the sales channels of their products,so as to improve the entry barriers of their industries,reduce the pressure of competition in the same industry and improve the differentiation advantages of enterprises;Through horizontal mergers and acquisitions,enterprises can expand the market share of products,form economies of scale,successfully have the right to speak in the market and improve the profit margin of products.M & A has greatly improved the economic benefits of enterprises and obtained new technologies and resources,so as to realize the synergy of M & A 。 therefore,many enterprises who have tasted the benefits of M &A are no longer satisfied with single M& A,but choose to carry out multiple M & A in the short term to realize the scale development of enterprises.Continuous M & A has become a shortcut for enterprises to achieve medium and short-term strategic objectives,but through continuous M & A,enterprises have obtained the advantages of resource and market development.At the same time,many negative effects of M & A have also appeared.Although the merger and acquisition of enterprises can improve the core competitiveness in their industry,quickly occupy the market and expand the production scale of products in the short term,so as to improve the output value and operating profit of enterprises,it also lays more risks for enterprises.The research object of this paper is Lepu medical,a new leader in the medical device industry.As an emerging leading medical enterprise,Lepu medical has leaped from a single cardiovascular and cerebrovascular drug enterprise to a leading medical enterprise in the whole industry through multiple mergers and acquisitions over the past few years.Firstly,this paper integrates several consecutive M & A events over the years,analyzes the relevance of M & A events,starts with the goal of enterprise strategic development,analyzes the motivation of continuous M & A,and identifies the M & A process and the risks after M & A.Continuous M &A will have many impacts on the operation and development of enterprises,and the unique risks generated after M & A,such as high goodwill,payment consideration risk or integration after M & A,will have negative effects on the business ability and performance of enterprises in the short term or even in the long term,and may reduce the reputation of enterprises in the capital market and product market,It brings hidden dangers to the sustainable development of enterprises.