Research On The Effect Of Asset Restructuring Of The ST Listed Company In China

China securities regulatory commission has issued and implemented for listed companies "financial condition or other anomaly" of the special processing methods and delisting risk warning system since 1998. namely ST and *ST. which is associated with the listed company dubbed "ST" or "* ST "at the former name.Such companies are also facing risks, such as stock trading gains were limited or forced to delist. Most of the listed companies are very cherish the listed qualifications, so they will take a series of measures to "cap". Assets reorganization is one of the way. But after the crisis to reverse and company development needs, assets restructuring can bring long-term benefits for the enterprise or whether the significant effect of assets reorganization has become a major research topic at present. At present, the existing condition of before and after the assets reorganization of listed companies operating in China research literature is based on empirical analysis of performance, and the comprehensive financial analysis on the ST companies before and after the assets reorganization’s article is very few. So to do a comprehensive financial analysis on before and after the assets reorganization of ST listed companies to study effect of assets reorganization has far-reaching significance.The article introduces JDZB’s asset restructuring background and restructuring process firstly, and then make a financial statements analysis for five years before and after 2011. The article finds that JDZB’s operating condition is improved through data discussing, including financial statement analysis and financial ratio analysis. Concluding the reasons for its asset restructuring effect which short-term improvement based on the above analysis, looking forward to its future development, and putting forward references to enterprises that choosing asset restructuring methods to get rid of financial distress.The type of JDZB’s asset restructuring asset replacement, with high quality inferior assets displacing its original main business, and the effect of restructuring is very obvious-"hat" successfully in the second year, so that assets reorganization can help enterprises to save themselves. But enterprise assets reorganization is not just to get rid of trapped, but also to be able to have development and higher profits. This paper find that the short-term effect is obvious through the study of the financial analysis of JDZB, but long-term sustainable development advantage does not highlight and many indicators show falling profits after the assets reorganization, such as return on equity, main business growth rate, net profit growth rate. This shows that JDZB’s asset restructuring behavior was not to offer long-term help to improve its performance. So the paper finally accounts for the causes of JDZB assets reorganization’s effect, and put forward some suggestions to JDZB’s development and some listed companies which have the same situation to JDZB’s assets reorganization.