Study On Motivation And Performance Of Backdoor Listing Of Berry Gene

With the comprehensive implementation of precision medicine technology,the gene sequencing industry has entered the fast track of industrial development and is expected to become a new direction of the future market.As a leader in the gene sequencing industry,Berry Gene not only has high popularity,but also has a relatively high share among major consumer groups.However,the number of companies in the gene sequencing industry is increasing and the market competition is becoming increasingly fierce.Under the background that the industry competition is becoming increasingly fierce,the enterprise must expand the business innovation ability,grasp the first-mover advantage,improve the market share,in order to seek the industry development dividend.Another leading enterprise in the industry genomics seeking financing power through ipos,and Berry Gene is a gene sequencing industry through the backdoor listing of the company,the first is also 2016 qualification tube after new rules promulgated the first successful backdoor listing of the company,so the Berry Gene drivers in front of the shell and the performance of the shell of the research is of great significance.Taking Berry Gene as the research object,this paper firstly elaborated the background and significance of the case study,then summarized the research methods and conclusions of the existing literature,and sorted out the research ideas and analysis methods of this paper.The next part is the theoretical analysis,which analyzes the resource,motivation and performance of backdoor listing shell,and provides the theoretical basis for the research in the following part.Then the general situation of the gene sequencing industry and the case of backdoor listing of Berry Gene were described,including the main business and equity structure of the backdoor before backdoor and the transaction plan design.Then comes the case study part.This part firstly analyzes the backdoor and shell selling motivation of both parties in backdoor transaction,then focuses on the analysis of the performance change of Berry Gene after backdoor listing,analyzes the short-term performance change with event study method,and discusses the long-term performance change with financial index method and EVA analysis method.Finally,it points out the shortcomings in the backdoor trading process of berry gene.Through the analysis of the case,the conclusion is drawn: in the center of backdoor listing,the cumulative excess return rate of backdoor listing is positive in short-term performance,which brings positive effect to the performance of the enterprise.Longterm performance,this paper compared with IPO genomics compared with industry average,in terms of financial performance,enterprise business performance has improved at the same time,EVA value also has made great improvement,but there is also a dilution ratio is higher,and cancel the match after the promotion enterprise’s purchase cost of shell.Final conclusion based on subsequent proposed backdoor listing of the same industry companies and other private enterprises put forward several proposals,including the listed company should choose the right way,the backdoor listing enterprises should choose suitable shell resources,grasp the opportunity backdoor listings,as well as the information technology under the background of new stricter rules,the improvement of positive earnings growth to satisfy the requirement of the shell with high quality.