A Case Analysis On JY Resource Integration In IPO

In recent years, under the strong support of national policy, the small and medium-sizedenterprises in our country have been development rapidly both in scale and quantity. Theyhave become the main force of the national economic development. However, withcontinuous development, they need more and more capital, and it has been unable to meettheir demand if just rely on their own accumulation and limited bank loans. The SME boardlaunched in Shenzhen Stock Exchange in June2004has become a major listing and financingplatform for the small and medium-sized enterprises. According to the current SME boardissue of audit regulations, listing companies must possess sustainable profitability as well asgood financial situation. In practice, the requirements for the business performance should begenerally higher than the provisions. During in IPO planning, in order to meet the variouslisting requirements, especially to achieve at least three years and a period of businessperformance requirements, the SME board enterprises will usually make the strategicplanning and integration on the main listing part. For the small and medium-sized enterprises,how to meet the requirements of IPO by resource integration has become the focus ofattention.This paper researches on the enterprise resource integration by the theory of complexityscience management, systematically analyses the integration of industrial chain, theintegration of human resources, financial resources integration, and makes the empiricalresearch by the case of JY resource integration in IPO.As a breakthrough point with the resource integration measures during in JY’s IPO, bycase study’s way, this paper generally represents the situation about the SME Boardcompanies obtaining the listing qualifications by resource integration in the process of IPO.Resource integration may centralize the company’s resource advantage, enhance their marketcompetitiveness, improve their business performance and finally realize the maximization offinancing in the capital market. Based on the theoretical and empirical research, this paper tryto analyse the significance of strategic management and resource integration in listingcompany IPO, and also put forward to think about system innovation on the threshold of theSME board listed.