Analysis Of Value Creation Brought By The M&A Of Sinomine Resource Group Under The Background Of "Carbon Peaking And Carbon Neutrality"

The proposal of the "carbon peaking and carbon neutrality" goal has driven another peak in the development of the lithium-ion battery industry.With the implementation of "dual carbon" related policies and the soaring production and sales of new energy vehicles,the scale of the lithium battery industry has grown rapidly,and the segmented application market has continued to expand.Many high-quality companies have embraced the M&A market one after another,and the lithium battery industry has also ushered in a new wave of M&A.The total value of M&A is far higher than other industries.Then,how do policy factors such as "carbon peaking and carbon neutrality" affect the M&A behavior of enterprises?How does it play a role in the value creation process of corporates’ M&A?Based on the case of two M&A of Sinomine Resource Group Co.,Ltd,this thesis studies the value creation of Sinomine’s M&A.First of all,using the normative research method,the relevant research results on the value creation of mergers at home and abroad are sorted out,and the research on the impact of M&A environment,merger motivations and merger strategy on the value creation effect of mergers is summarized,and the theoretical framework of this thesis is sorted out.Secondly,according to the theoretical analysis framework,this thesis analyzes how the M&A environment such as the "dual carbon" policy affects the value creation of corporate M&A.The research finds that the industrial policies related to"carbon peaking and carbon neutrality" are the factors that need to be considered in corporate M&A.These factors will affect the realization of the motivations of M&A,and then affect the value creation effect.Thirdly,it uses the case study method to analyze the value creation of the two M&A of Sinomine.Firstly,by using the event research method,it analyzed the market value creation effect of Sinomine’s mergers,and found that the capital market recognized Sinomine ’s merger of Guangdong Dongpeng Holdings Co.,Ltd,but was not optimistic about the merger of Cabot Special Fluid Division.It also uses the accounting research method to find that the two M&A will increase the company’s profitability,and in the long run,it will increase the company’s sales performance and create financial value for the company.Besides,the company achieved strategic transformation through two mergers and acquisitions,obtained strategic resources,and achieved strategic value improvement.Finally,conclusions and enlightenments are drawn,combined with the merger strategy of Sinomine Resource Group Co.,Ltd,and corresponding suggestions are put forward,hoping for the future development of Sinomine Resource Group Co.,Ltd and other companies who want to enter the lithium-ion battery industry through M&A because of the "dual carbon" policy.Enterprises provide lessons.Through case studies,this thesis finds that,first of all,policies such as"dual carbon" bring opportunities for the development of the lithium battery industry,but there are certain barriers to entry in the lithium battery industry,and M&A can solve this problem well.Secondly,the policy environment such as "carbon peaking and carbon neutrality" constitutes the environmental factors of the M&A of enterprises,which will affect the formation and realization of the motivations of M&A,and then affect the effect of value creation.Among them,the motivations includes the main business conversion motivation,the synergistic effect motivation and the resource-based motivation.Finally,policy-oriented thinking should be maintained in the entire process of M&A,which will help create corporate value.It is necessary to adapt to the M&A policy environment in terms of M&A decision-making,M&A implementation,and post-merger integration,and to make dynamic adjustments in a timely manner according to the policy orientation,so that a virtuous cycle of compliance with industrial policies and M&A value creation can be formed.There are two main innovations in this thesis.First,this thesis proposes the analysis framework of "M&A environment impact-M&A motivation realization-M&A value creation",emphasizing the influence of external environment on the process of M&A value creation.Second,this thesis focuses on the value creation process of corporate M&A under the background of " carbon peaking and carbon neutrality ",combines traditional analysis methods with the emerging era background,and provides reference for companies interested in M&A in the current era background.