A Case Study Of Greenland Group Back Door Listing Financial Performance

With the development of the socialist market economy in our country,the need for a mature securities capital market and a modern enterprise system is becoming more urgent,especially for the real estate industry that has played a huge impetus for China's economic development.After several decades of rapid development,relevant government agencies have issued a number of regulatory policies and guidelines,which have effectively suppressed the overheating of real estate.However,this type of government's initiative to participate in industry regulation has a certain impact on the company's financing channels,especially the real estate industry as a capital-intensive enterprise.This change in policy environment has a more significant effect on corporate capital acquisition efficiency.In order to improve the financing status of enterprises,obtaining eligibility for listing and financing becomes an important choice for real estate companies.Among the various means of participating in listing,backdoor listing is more competitive than IPO's relatively low cost and faster speed.More and more companies to be listed will be favored.The successful backdoor listing of the Greenland Group in 2015 is a typical example of the successful operation of China's current real estate business.In addition to broadening the new financing channels and optimizing the strategic layout of the company,Greenland Group,as a state-owned company under the Shanghai State-owned Assets Supervision and Administration Commission,began to explore the path of development and reform of state-owned enterprises under the environment of mixed state-owned enterprises.To effective guidance.This paper firstly describes the background and significance of the research,and organizes the relevant literature conclusions and carries out comprehensive analysis and evaluation.Then it describes the research ideas and research methods of this paper,and points out the innovations and possible deficiencies of this research.Introduce the specific meanings of relevant terminology in the backdoor listing,summarize the theoretical basis and theoretical effects;after that,formally enter into the research and analysis of the case of Greenland Group's backdoor investment in Jinfeng,and through the vertical and horizontal comparison of financial performance indicators and industry fluctuations,Exploring the influence of backdoor listing behavior on corporate financial performance;analyzing the causes of changes in corporate profits,analyzing the reasons for the changes,evaluating the quality of profits,and comprehensively reflecting the changes in operating performance and influencing factors before and after the company's backdoor listing;and finally summing up the conclusions of the case analysis.With experience and lessons learned,they provide their own opinions and suggestions on both the backdoor and the government level.Research shows that this backdoor listing has played a positive role in promoting short-term debt repayment and profitability,slowing down the decline in the company's operating capacity,and further improving the company's profit quality and operating performance.Based on the summarization of lessons learned from this backdoor listing,this article provides insights and opinions on the possible situations in the behavioral operations of backdoor listed companies in the future capital market,which provides a certain reference value for the gradual deepening of the mixed state-owned enterprises situation.