Research On The Case Of FLAGCHEM Board-transfer

As of December 31,2016,the Shanghai stock exchange and the Shenzhen stock exchange total listed companies amounted to 3204,while the National Equities Exchange and Quotations(NEEQ)listed companies amounted to 10163,which is far more than the total number of Listed Companies in Shanghai and Shenzhen.With the rapid development of the NEEQ market,the level of development of listed companies is uneven,among them,the quality listed companies have the need to transfer to the higher level capital market.Therefore,the transfer of NEEQ enterprises is worthy of further study.Compared with the large number of enterprises in the NEEQ,the successful transfer of enterprises is fewer,in the NEEQ market only 12 enterprises successfully transfer board to SME and GEM.Therefore,this paper selects FLAGCHEM which is the latest successful board-transfer enterprise as a typical NEEQ transfer case.This paper briefly analyzes the motivation of the FLAGCHEM transfer board,describes the process of the FLAGCHEM transfer board,and analyzes the reasons for the success of the FLAGCHEM transfer board using relevant statistics.This article uses the method of case analysis,in-depth analysis of the reasons for the success factors of the board transfer,from the FLAGCHEM transfer board in assets factor,capital factor,profits factor,cash flow and other factors on the board,FLAGCHEM beyond the GEM listing requirements after the successful transfer board in all aspects.Through the analysis of a case study,we found that FLAGCHEM is worth a lot of successful experience of the transfer of business intends to study in the transfer process,and finally draws the corresponding conclusion,and provides a reference for the development of other NEEQ companies.Mainly from the assets and capital,profits,cash flow and internal governance in four aspects to intends to transfer board enterprise puts forward relevant suggestions: focus on improving the efficiency of assets and capital operation;improving sustainable profitability;strengthening cash flow management;improving internal governance,and this article has the important theory and the practical significance.