Analysis On Motivation And Performance Of Nanjing Xinbai's Cross-border M&A British HOF

the development of real retail enterprises in China is entering a bottleneck period.At present,the rise of e-commerce platform has encroached on the traditional retail market,Which reduced the market share of the retail enterprises.And structural overcapacity,logistics costs,rental costs and labor costs rising have caused many retail businesses increase in business costs and decline in performance.In this complex economic environment,many real retail enterprises are seeking transformation.With the frequent introduction of policy that causes a rise in the stock index or in a particular stock,the merger and reorganization activities in the capital market to support the development of the real economy are also in full swing.Among them,mergers and acquisitions have also become a choice for many real retail enterprises to seek a way out.Nanjing Xinjiekou department store co.,ltd.(inafter referred to as "Nanjing Xinbai")is the first enterprise to carry out cross-border mergers and acquisitions in Chinese retail market,it has a symbolic significance.It is hoped that a meaningful conclusion can be reached through the analysis of this case,providing a reference for other enterprises who want to achieve performance improvement and business transformation through mergers and acquisitions.First of all,this paper expounds the related theories of the motivation and performance of transnational merger and acquisition on the basis of combing the previous research results.Then it analyzes the current situation of the development of the retail industry and the characteristics of its merger and acquisition.Then this paper gives a basic introduction of Nanjing Xinbai's acquisition process,and analysis motivation of the M & A of Nanjing Xinbai based on it.Finally,The financial index analysis method and non financial index analysis method are used to test the performance of M & A of Nanjing Xinbai.The following conclusions are drawn:In terms of financial indicators,Nanjing Xinbai main business income growth and gross profit margin level increased because of mergers and acquisitions,in terms of operating income,foreign income contributed to the total income of enterprises significantly.The operating costs of enterprises increased in the year of M & A,and then decreased gradually with the synergistic effect appearance.The operating ability,profitability and development ability of enterprises have been improved,but the solvency of enterprises has decreased,The EVA index has increased significantly,indicating that the Cross-border merger and acquisition activities have brought significant wealth to the shareholders;In terms of non financial indicators,the market share of the enterprise is increased,the management ability of supply chain is strengthened,the ability of business innovation is enhanced and the ability of brand shaping is highlighted.Therefore,Nanjing Xinbai's merger is successful,M & A help enterprise to enhance the performance and business transformation objectives in general.Finally,this paper draws the following inspiration,including choosing the right time for M & A,adopting diversified and flexible payment methods and attaching importance to the integration after merger and acquisition etc.The innovation point of this paper is that the existing research on the performance of M& A in retail industry is concentrated on foreign capital merger and acquisition of Chinese enterprises,but there is little research on the performance of Chinese enterprises' Merger and acquisition of foreign retail enterprises.Secondly,previous studies on the performance of mergers and acquisitions mostly adopts the empirical research method,and this paper uses the case study of Nanjing new cross-border mergers and acquisitions,it is innovative.