Financial Performance Analysis Of Holistic Listing Based On Xugong Group

Due to the historical causes，almost all Chinese enterprises are listed on the stock marketas a subsidiary company, listed split in the early days promoted the development of the Chinesesecurities market, easing the listed company’s financing problems. But along with thedevelopment of the securities market, disadvantages of split listed are more and more obviousexposed, such as because of the industrial chain of integral between the listed company and theenterprise groups, there are a lot of related party transactions between them. The competitionbetween the listed company and the enterprise groups. as a major system change in our securitiesmarket, listed as a whole becomes an important way to solve the disadvantages of split listed.This paper taking Xuzhou construction machinery group’s whole appears on the market asan example, analyzes the impact of financial performance to xugong. This article first definerelated concepts of the enterprise group and the whole appears on the market and summarizes thebasic theory of the whole appears on the market. Then combed the related literature and analyzedthe background, motivation, mode of Xugong group listed as a whole. Comprehensive evaluationthe change of financial performance before and after xugong’s whole appears on the market frommarket reaction, the trend of the shares of the listed company, debt paying ability, profitability,operation ability, growth ability, DuPont analysis and so on. Find whether the stock marketreaction or the company’s financial performance before and after whole listed, all showed thatwhole appears on the market has positive influence to xugong.The article analyses the factors which influence xugong’s financial performance beforeand after whole appears on the market, combined with the scale effect of the theory, theboundary of firm theory, control theory, the coordination effect theory. Summed up the wholeappears on the market bring good financial performance to xugong mainly because of in thewhole appears on the market, xugong group injected its related assets of the science andtechnology into the listed companies, expand the scale of the listed company, enriching the product structure, and optimize the industrial chain of the listed company, form the scale effect,and reduce the occurrence of related transaction, avoid the potential trade competition, improvethe share ratio of controlling shareholders, played a synergy effect on management, operationand finance. Then the article also points out the risks which bring to the listed company by thewhole appears on the market, mainly includes the underlying asset valuation risk, a share of theonly big risk, the risk of the integration of assets. In the end of the article we give our own adviceto the enterprise that need listed as a whole, the relevant government departments and investors.