Analysis On The Canses And Effects Of Revers Merger Of Logistics Enterprises

Logistics industry is a composite service industry that integrating transportation,warehousing,information industry and so on.Express logistics industry is a sub-sector of logistics,In recent years,relevant government departments in China have increased their support for the express logistics industry,actively promoted the construction of the “Belt and Road”,and established a large international logistics channel,which provided a good opportunity for express logistics companies to provide international logistics markets and improve their own infrastructure construction.The large-scale release of national policy dividends,the development of science and technology and the popularity of the Internet have all contributed to the transformation and upgrading of the express logistics industry.At present,there are a large number of express logistics companies in China,and they are developing rapidly.Due to the low threshold and increased homogenization of the industry,the gross margin of the industry has declined year by year.Many express logistics companies are seeking to transform themselves into integrated service companies.To improve competitiveness,we must increase the introduction of IT technology and improve the infrastructure network construction.With the development of the Internet + logistics,logistics big data has also promoted the transformation of industrial intelligence.However,any change and development cannot leave the support of funds.Most of China's express logistics companies are privately owned,self-financing,and their sources of funds are mainly their own funds,making it difficult to obtain bank loans.Therefore,it is more difficult for such enterprises to obtain funds for development.Since 2016,China's express logistics companies have turned their attention to backdoor listings,hoping to obtain capital for corporate transformation through listing,and to seize opportunities for development.After Shentong and Yuantong's backdoor listing,SF,which had previously announced that it would not be listed,could not hold back.In May 2016,SF Express announced the listing of its new product,Ding Tai.As a leading enterprise in the express logistics industry,why did Shunfeng refuse to comment? Why do these companies choose to go public? This article is to discuss the motivation and effect of the backdoor listing of logistics companies in this context.The first chapter of the article is the introduction part.Firstly,the background of the topic and the significance of the topic are explained.Then the main contents and methods of the research are introduced,and the domestic and foreign literature related to the motivation and effect of the backdoor listing are combed.The innovation of this article is explained.The second chapter is about the definition and theoretical basis of the related concept of backdoor listing.The third chapter selects the logistics enterprises listed backdoor in recent years and analyzes and summarizes the characteristics of the backdoor and backdoor processes.Chapter 4 reviews the process of SF Express' s listing of Ding Tai New Materials,and analyzes the causes of its backdoor listing based on relevant theories.It also conducts the effect of SF Express' s backdoor listing in terms of profitability,asset management efficiency,and financing capabilities.The fifth chapter is the article's research conclusions and countermeasure,provide reference for companies that want to reverse merger.