The Research Report Of Daqing Lianyi Corporate Restructuring And The Delisting Process

With the worldwide economic united, the competitive between the companies becomehotly, so the company should adjust the unconscionable allocation of resources andstructure and assets restructuring is an important measure for optimization of resources fora company. Especially since ST (Special Treatment) system was carried out by CSRC(China Securities Regulatory Commission) in1998. More and more ST companies havejoined in the activity of assets restructuring in our security market，in order to improvecompanies’ performance by integrating own resources. Whether asserts restructuringhas a positive effect on the financial condition of ST companies and promotes shareholdervalue of ST companies. And do the different types of assets restructuring for promotingcompanies’ performance have difference? There is no consistent opinion among academiccommunity.This paper studied concept and theory of merger and acquisition， summarized andanalyzed problems of mergers and acquisition at present stage by combining withdevelopment history and current situation of supervision for China’S listed company.Through the case of Daqing Lianyi company, This paper analysis the situation cause andthe process of enterprise market. n．Finally, in order to promote market and normalizeddevelopment of merger and acquisition of listed company, the writer proposed to greatlystrengthen the system construction of merger and acquisition，normalize the behavior ofmerger and acquisition，increase supervision for merger and acquisition, increase thepenalties for law and regulation violations on merger and acquisition, give full play tointermediary body on merger and acquisition， improve the quality of merger andacquisition，modify and perfect information disclosure system of merger and acquisition，adequately protect the interest of individual investor, and greatly push the marketization ofmerger and acquisition.