Research On The Method Of Valuation Of Shell Borrowing Enterprise And Its Application

At present,the backdoor listing has become the most common in addition to IPO outside the capital market,a way.Although the relevant policies of the SFC stipulates that the backdoor listing of corporate standards and IPO convergence,but still attract a large number of high-quality non-listed enterprises through the backdoor way to achieve their own extension of the development and direct financing functions.However,how to evaluate the value of shell borrowing enterprise is the core content of the backdoor listing process,a reasonable assessment method of choice on the enterprise value evaluation has played a crucial role.This paper will be described in six chapters.The first chapter is the introduction,introduces the background and significance of the article,summarizes the main contents of the article and combs the framework,and expounds the main research methods of the article.The second chapter is an overview of the theories and methods of enterprise backdoor listing and valuation,and summarizes and evaluates the relevant methods and theories of the valuation of listed and unlisted enterprises at home and abroad.At the same time,it summarizes the theory and evaluation methods of backdoor listing.The third chapter is the shell borrowing enterprise analysis,with GXGK company as the research object,introduced the enterprise profile,backdoor motivation and process.The fourth chapter is based on the introduction of asset-based law-book law,the use of this method to evaluate the value of GXGK company,in the combing of the framework of the assessment based on the detailed elaboration of the assessment process.The fifth chapter is based on the introduction of income method-cash flow discount method(DCF),the use of this method to evaluate the value of GXGK company,combing the framework of the evaluation of the basis of the detailed elaboration of the assessment process.Finally,the results of each of the two assessment methods are presented and the differences in the results are analyzed.In the sixth chapter,according to the applied research in this paper,the conclusion and enlightenment of the article are put forward.