The Financial Performance Of Reverse Takeover Guoxuan High-tech Company

In recent years, China has begun to reverse the trend of large-scale mergers and acquisitions, the choice of reverse mergers and acquisitions of enterprises more and more. However, with the rapid growth of the number of reverse mergers and acquisitions of enterprises, many problems in the process of reverse mergers and acquisitions in practice one by one to show, such as shell resources at random pricing, financial reporting on suspicion of fraud and so on. Beginning in 2014, IPO standards are also constrained reverse mergers and acquisitions, which will make reverse mergers and acquisitions boom has cooled, also can let are or will be on the backdoor listing of enterprises meet many difficulties. This article is from a financial perspective on the reverse of the Guoxuan high-tech mergers and acquisitions Dongyuan appliances practice case study, in-depth analysis of the selection of shell companies and enterprises of the two sides of the motive of M & A, this paper focuses on the analysis of the case of financial performance and hope for the future of new energy enterprises reverse mergers and acquisitions provide some opinions and suggestions.This paper based on the financial performance of analysis theory and practice case, China Guoxuan high-tech backdoor listing Dongyuan appliances as the research object, the use of case analysis method, comparative analysis method and criterion research method of three research methods, first of all to Dongyuan appliances financial analysis, explain why choose Dongyuan appliances as the target company and analysis of mergers and acquisitions on both sides of the merger motivation; then the case in transaction structure design, financing mode and integration mode were discussed. Finally, after the completion of the acquisition of corporate financial performance of analysis. System analysis the financial problems that may exist in the case, and according to the analysis of practical cases of the problem put forward recommendations are those of the authors, through summarizing the experience of the case to avoid financial risks that may occur in the process of back door listing, and to help enterprises implement effective financial strategy. At the same time, it can help enterprises improve the merger is completed after the financial performance. On the one hand can foresee the reverse merger that may arise in the financial problems in practice; on the other hand, through summarizing discover and solve the financial problem in the case can be extended how can effectively avoid the risk of conjecture and how the supervisory activities listed the companies through a reverse listing market norms.In this paper, the case analysis part is organized as follows:the first part is the introduction, introduces the background and significance, the related literature at home and abroad, expounds the research ideas and methods; the second part introduces the general situation of both sides, then the financial analysis shows why Guoxuan high-tech choose Dongyuan appliances as a shell company. The analysis of merger motivation of mergers and acquisitions of both sides; the third part is to analyze the behavior of the acquisition process, first introduced the structure of the transaction case, then analysis shows that equity changes before and after the acquisition, and then analyze the possible cases of risk financing and financing process, finally elaborated model and risk integration case in the fourth part; is to compare the financial performance of the completion of the acquisition of Guoxuan high-tech. select the appropriate financial By comparing the data before and after the financial performance of evaluated according to the financial index data. The fifth part is the conclusion and research prospect of the paper. I hope the research results of this paper can provide some valuable references for other new energy enterprises in reverse merger and acquisition.