Midea Group Listed On The Overall Financial Effect Analysis

From 2003 to 2006,China's securities market set off a shares overall listing boom,during which emerged many classic success stories,such as TCL to absorb the merger TCL communication to achieve the overall market,Wuhan Iron and Steel shares placement on the acquisition of Wuhan Iron and Steel Group to achieve the overall market,first Department absorption merge Hualian Commercial Building to achieve the main business department of the overall market,Hong Kong Group absorption merger G on the Hong Kong to achieve the overall market.The integration of industrial chain as the main purpose of the company to achieve the overall market achieved positive effects,for have a huge role in promoting the system innovation and the development of capital market.The overall market is to make the wealth of investors increases,whether it can create a positive influence on financial performance for the listing Corporation,the overall listing of the great significance.So this paper chooses the Midea Group's overall listing as a case,through analyze the changes before and after the overall listing of enterprise financial effect,to discuss the overall listing and after the listing of the overall enterprise value is improved,market competitiveness is enhanced.By way of seeing the summary analysis case,leads the government should take what kind of measures to correctly guide enterprises to achieve the overall market,and provide the theoretical basis for the securities regulatory departments.This paper take the method of combination of theory and case study.The theoretical analysis method is used in describing the relevant concepts and basic theories of the overall market,in the analysis of beauty of the group's overall listing and corporate performance using the method of case analysis combined with quantitative analysis.Through to the United States in the group listed as a whole and listed as a whole after the financial effect analysis,it is found that the overall listing of the motivation are mainly to industrial chain integration of the company to enhance the size and enhance profitability;streamline group organization enables enterprise structure more reasonable and scientific;reduce the related party transactions,enhance company independence and normative.Beautiful group listed as a whole after the company solvency,operating capacity,profitability and growth ability are better than the overall market before and ownership structure has undergone tremendous changes,diversified ownership structure can be improved,and was listed as a whole the United Group shares reached the historical high,to obtain a positive market reaction.This paper analyses the reason is mainly due to the overall market related to the integration of industrial chain,into the advantage of the business sector,to reduce the related party transactions and to make the organization more flat,science so as to enhance the financial effect of the group of the United States.The listed companies in the pursuit of its overall listing at the same time,should also choose their proper overall listing patterns and establish a risk prevention mechanism to avoid the risk,at the same time securities administration departments should actively formulate corresponding policies to maintain the healthy development of the securities market.The text of this paper is divided into five chapters.The first chapter is the introduction: introduce the background and significance of the topic of this article,Based on the domestic and foreign research literature review,research ideas and methods of this building.The second chapter is on the whole an overview of the city and financial effect: firstly,this paper introduces the overall listing of the meaning and concept,which leads to the motivation of listed as a whole,and a brief description of the four listed as a whole mode;secondly,a comprehensive review of the overall listing of the theoretical basis,including: Enterprise boundary theory,the synergistic effect theory,scale economy theory.Finally,from the concept and indicators of financial effect on financial effect were the overview of the theory.Chapter three for Midea Group's overall listing cases introduction: made a brief introduction of the scheme is introduced in this paper.The basic situation of the group of the United States and the United States electrical;followed by analysis of the motivation of beautiful group listed as a whole,including its own internal industrial integration demand and external policy support;then reviews the beauty group listed as a whole the whole process of the United States and the group listed as a whole.In the fourth chapter,Midea Group's overall listing the impact on financial effect: from solvency,operating capacity,profitability,growth ability of variation of Midea Group operating performance before and after the overall listing of the of comparative analysis,from the reaction of changes in ownership structure and market analysis before and after the listing of the whole financial effect analysis.The fifth chapter is the conclusion and Enlightenment of this study,the financial effect of overall listing of Midea Group the positive economic consequences.So in this paper,the conception from the overall listing of the program,the government is actively encouraging overall listing and strengthen the supervision of the laws and regulations,"spin off" the company actively create conditions realize overall listing and put forward the relevant suggestions.