The Research On The Reasons That DCITS' Merger And Acquisition Of Nanjing Howso Technology

With the acceleration of the marketization process in China,SMEs have played an increasingly important role in the national economy.Due to small size and lack of strength,financing difficulties have become the main factor restricting the development of SMEs.In order to encourage,guide,and support the development of SMEs,the state solves financing problems by establishing multi-level capital markets.In 2006,with the authorization of the State Department,the new three boards were formally established,and SMEs have a broader financing platform.In 2012,the pilot of the transfer of shares in unlisted companies was expanded.At the end of 2013,all enterprises that meet the conditions within the country can apply for listing,and the nationwide transfer system for small and medium-sized enterprises will gradually improve.In recent years,a new M&A boom has formed in the new Third Board market.In 2017,there were 336 acquisitions on the new board and the transaction amount was RMB 47.641 billion.This article through in-depth analysis and research of DCITS acquisition of NanJing Howso Technology Co.,Ltd cases,from a variety of comprehensive systems to explore the causes of mergers and acquisitions.The article first elaborates the background of this topic and its research significance,literature review,research content,technical framework and research methods.Secondly,it briefly introduces the concept of mergers and acquisitions,the types of mergers and acquisitions,and the theory of the merger and acquisition motives formed at home and abroad.On the basis of the previous two chapters of literature and theoretical analysis,this paper analyzes the current status of mergers and acquisitions of Chinese companies in the new Third Board market and the types of mergers and acquisitions of enterprises,and thus derives the unique motivation of M&A under this specific plate environment.In the end,the case of China's acquisition of NanJing Howso Technology was selected to introduce the basic situation of M&A parties,and the M&A background,M&A method,M&A process,etc.were comprehensively analyzed.It is hoped that through this case study,it can provide reference for similar mergers and acquisitions,making the factors considered by listed companies more reasonable and comprehensive in mergers and acquisitions,reducing the occurrence of blind mergers and acquisitions,and avoiding the failure of mergers and acquisitions.