Study On Financial Effect Of The Overall Listing In Huayi Group

Under the background of the reform of state-owned enterprises, there are a lot of enterprise groups planning and implementing of their own actual situation of the overall listing plan. A few years ago, the SIPG(Shanghai International Port (Group) Co., Ltd), WISCO(Wuhan Iron and Steel (Group) Corp.), and other enterprises have achieved the overall listing and the relevant experiences of the following-up specific operation, which provide a certain reference value and reference experiences to other enterprises. At the same time, the relevant regulatory authorities have also issued a series of relevant equity division reform documents to support and encourage listed companies to implement the smooth implementation of the overall listing plan. In fact, the main target of group listed as a whole is usually to integrate industrial chain, reduce related party transactions, reduce transaction costs, reasonize and balance allocation of capital market resources, and finally make the listed company bigger and stronger. Whether the listed company's overall listing can have a positive impact on corporate performance, and effectively enhance the overall strength of the enterprise or not, it has become the most pressing issue in the current reality.This dissertation takes Shanghai Huayi (Group) Company (referred to as:Huayi Group) as the research object, using method of combination of theory and case study. Meanwhile, the overall market reaction, the financial condition and operating performance were analyzed and compared by using the announced annual financial report. This dissertation proved the financial effect of the overall listing, it can be used to judge the overall market and to enhance the market competitiveness of enterprises in order to ensure the right direction for further development. At the same time, through in-depth analysis and summary of the case, this dissertation, on the one hand, can provide reference of completing the overall market for other enterprises successfully. This dissertation, on the other hand, can help the government and the relevant regulatory authorities to take effective measures and means for the successful implementation of enterprise overall market guidance, and can promote the enterprises to establish strategic correct measures and move towards the benign development directions.This dissertation is divided into five chapters. The first chapter is the introduction. It mainly introduces and discusses the research background, the significance and the main contents of the paper. The second chapter is the overall listing and financial effect review of literature:Firstly, systematically introduced and discussed the basic meaning of overall listing market, the mode and motivation of overall listing market as well as the relevant theoretical basis of overall listing, followed by the basic theory of the financial effect of the paper, and then summarized and reviewed the overall market and financial performance in Chinese research situation and relevant literature, providing theoretical foundation for the subsequent specific analysis. The third chapter is the introduction of Huayi Group overall listing cases: First of all, the basic situation of Huayi Group and its affiliated parties of the enterprise, then the Huayi Group overall listing plan, concrete process, the patten and motivation of Huayi Group overall listing analysis combined with the theory of the overall market. The fourth chapter is the financial effect of Huayi Group overall listing:Annual financial report of Huayi Group before and after the overall listing in the period from 2010 to 2015, were calculated and compared on the corporate solvency profitability, oper ation ability and development ability etc. Then the stock price changed during the overall listing were analyzed to evaluate the financial effect. The fifth chapter is the research conclusions and enlightenment:Review and summarize the main influence of Huayi Group listed as a whole due to the financial effect, thus draws the conclusion, and gets inspiration from this case, puts forward the relevant suggestion, for the other enterprises successfully listed as a whole to provide references.