Study On The Mergence And Reorganization Of ST Hengli Company

Whether frequent reorganization of the special treated company (ST Company) can successfully keep the company remaining in the stock exchange market and get rid of Special treatment, increase the profit of the share holders, can bring an successful mergence and reorganization, has been the attentive topic among the economic circle and academe. The current study of this topic has been concentrated in the conclusive statistic analysis and mergence domino offect from the viewpoint of reorganization. There is little study to the reorganization domino offect from the standpoint of ST companies themselves. This essay made a demonstration study to the planning of mergence and reorganization and company conformity concerning the ST Company (target company) based on the sample of ST Company Hengli with the purpose of providing some reference to the mergence, reorganization and conformity of ST companies in the stock exchange market.In the beginning, the essay summarized the theory of the research background and meanings of the mergence, reorganization and conformity and analyzed the actuality at home and abroad. And then it analyzed the behavior and the impetus of the listed companies who involve in reorganization, explained the general situation and basic characteristic of mergence and reorganization of the domestic listed companies. After the discussing of the implementation of mergence and reorganization and related system and analysis of the formation and current situation of ST companies, it introduced the concept of strategic investor based on the theoretical research to ST companies. Upon the analyzing the failure of mergence and conformity of Delong Group and the success of reorganization of ST Jilin Paper, it designed and proposed the mergence and reorganization scheme of ST Hengli and preliminary study of the company conformity after reorganization by presentation of the research of primary situation of ST Hengli.In a word, after a profound study, this essay consider that listed companies can plan the scheme of reorganization and conformity from the interests of target companies, so that a more scientific, reasonable and effective mergence and conformity can be implemented in order to attract strategic investor, which will duly result in a higher rate of successful mergence and conformity.