Yuantong Express Backdoor Listing Case Analysis

After entering the 21 st century,benefiting from the rapid development of economy and e-commerce,China’s express delivery industry has developed rapidly,and become a new impetus to promote economic development.In recent years,the number of express delivery enterprises in China has been increasing,the scale of business has been continuously expanded,the service level has been increasing day by day,and played an active role in service life,expanding employment,supporting e-commerce and national economic development.However,in the seemingly prosperous courier industry behind the huge competition crisis hidden,express delivery industry is labor-intensive industries,lower barriers to entry,making more and more enterprises to enter the express industry,profit model is similar,low industry concentration,the same Serious quality,low gross margin and a series of factors exacerbated the industry competition pressure,express delivery industry profits are constantly being diluted.From the current status of the development of the express delivery industry,if you want to gain the upper hand in the fierce competition in the market,its own capital has been difficult to meet the needs of the scale of expansion and occupation of the market,so many courier companies desire to obtain the capital market through the listing of this sustained and stable Financing platform,which is 2016 many courier companies get together the most fundamental reason for listing.Backdoor listing is a special form of mergers and acquisitions,but also in addition to starting the listing(referred to as IPO listing)in addition to another important way listed.Compared with the IPO approval time is long,the review process is complex,and often subject to policy restrictions,backdoor listing has a short time to market,the advantages of low listing,so tact,Shen Tong,SF,rhyme and other domestic top few courier companies are selected Through the backdoor to achieve the listing.In this paper,the case study method,combined with the development of the industry,from the typical case to start China’s private express delivery enterprises backdoor listing in-depth analysis.Case selection,this selection of Yuantong courier Co.,Ltd.relying on the development of electricity providers in the express market quickly grow,with the industry competition continues to intensify,forced to enhance the logistics of intelligent pressure,Yuantong Express seize the time to market to achieve a priority listing,Became a formal landing A shares of the first domestic listed courier companies.This paper analyzes the motivations,models and risks of Yuantong courier backdoor,and provides experience for other courier companies that are ready to be listed.Based on the case analysis of the market,it is concluded that the timing of postponement of listed companies is of particular importance,not only to fully consider their own situation and external conditions,to choose their own shell companies and listing mode,but also concerned about the backdoor listing After the risk of circumvention;the same time the relevant government departments should also be based on market conditions and development,and constantly revised and improve the relevant policies for the development of the industry to provide a good policy environment.