The Case Study Of*ST Huake

The main content of this paper is to introduce the Hongda Co.,Ltd reorganiz*ST HuakeCompany case in2011.*ST Huake Company special treatment becomes*ST shares for threeconsecutive years of losses, Hongda Co.,Ltd as a private enterprise with good profitability and ahuge potential for development, hope to expand the size of the company to obtain public financingqualifications.By the parties choose to begin a two-year reorganization.In this paper, the theoretical research and case analysis of the combination of the way, thefirst literature review of research scholars at home and abroad, and describes the underlying theoryand restructuring motives;the second described the case of reorganization’s side and the basicsituation of the target company, and through the financial data analysis the development status of*ST Huake;and then analysis the company twice reorganization process, the first reorganization ofthe cause of failure and success of the reorganization in the second experience, restructuringperformance and restructuring enterprise development and human resource integration and soon.After the reorganization of Hongda Co.,Ltd listed on the qualification of financing,*ST Huakeget rid of the financial burden and delisting crisis, the two sides reached a win-win situation.Basedon the*ST Huake Company mergers and restructuring carried out in-depth research, provide thedevelopment way for the listing corporation reorganization of assets after the reform ofstate-owned enterprises, provide some suggestion to the ST listing corporation merger andreorganization.In this paper, through the analysis of specific cases, analysing the process and experiencefrom the ST listing corporation target enterprise perspective,enriches the*ST listed companyreorganization successful case, from the specific case to guide other cases, provide a reference forfuture restructuring behavior, and for the selection of a more scientific and effective, reasonableway of mergence and reorganization, and to improve the success rate of reorganization inspiration.