Research On Merger And Acquisition Risk Management Of CQHY Project

The development and utilization of natural gas is a realistic choice for China to actively cope with climate change and take the road of green and low-carbon.Compared with the United States,Europe and other countries,China has huge space for natural gas utilization.In June 2017,13 ministries,including the National Development and Reform Commission and the National Energy Administration,jointly issued the Opinions on Accelerating the Use of Natural Gas.It is clearly proposed that "natural gas will gradually be cultivated as one of the main sources of energy in China’s modern clean energy system." It is further proposed that "by 2030,we will strive to increase the proportion of natural gas in primary energy consumption to about 15%." This means that China’s natural gas consumption will maintain a high development rate.Under such a social background,urban gas enterprises are managed by the National Public utility department and are licensed,so they have the nature of monopoly.Moreover,the urban gas industry has been sought after by various types of capital.Central enterprises,local state-owned enterprises,and private enterprises have competed to enter,and high-quality prefecture-level and above urban franchise rights have basically been divided.Private capital companies such as SLGF can only lock their eyes to county-level cities in the process of development.With the acceleration of the country’s call for urbanization,the county-level and township markets will enlarge,and the competition for regional management rights will become more fierce.Along with the increasingly fierce competition in the gas market,in order to compete for the market and greater space,mergers and acquisitions between companies occur from time to time,and will also become one of the main paths for the development of gas companies.However,in the enterprise mergers and acquisitions,in addition to paying attention to the economic benefits after investment,corresponding to the impact after merger and acquisition and how to avoid the risk of merger and acquisition,in the capital market,it will be a practical issue that enterprises pay more and more attention to,which is related to the sustainable development of enterprises.In the early stage of this topic,through the collection and collation of data documents and related corporate merger and acquisition case studies at home and abroad,combined with their own professional fields and the specific realities of their work,the entire process of SLGF’s merger and acquisition of CQHY company will be studied as the object:First,the introduction to the text.This paper reviews the current situation of the topic at home and abroad to ensure the value and feasibility of the topic.Secondly,the paper studies the theory of risk management applied in this topic,which is the theoretical support for the research.Third,the overall situation of the CQHY merger and acquisition project is studied,and accurate and detailed data are used as the data support of the paper.SLGF will face the problem of risk management after the acquisition of CQHY.This topic discusses the current situation of risk management in SLGF.Fourth:Research CQHY project acquisition risk identification,including the selection of risk identification methods,the identification of project risk and other perspectives;Fifth,the risk analysis and evaluation of the merger and acquisition of CQHY project mainly include risk qualitative analysis and risk quantitative analysis,and evaluation of risk summary;Sixth,the paper puts forward the constructional strategy for project risk response and monitoring,including risk response plan,project risk monitoring and so on.Finally,the conclusion is drawn and the full text ends.The full text through the concrete operation of the enterprise merger and acquisition project in specific practice,identify the risk point of the gas merger and acquisition in the new phase,analyze and evaluate it,and formulate the risk response plan to avoid the risk and ensure the successful implementation of the project.The research results of this project have a good reference meaning and reference value for the risk management of similar urban gas mergers and acquisitions projects.It is helpful to guide and improve the project merger management work of SLGF companies and similar private capital in the same industry,optimize the management process of project mergers and acquisitions,and prevent the risk of investment mergers and acquisitions.Improve the success rate of mergers and acquisitions and improve project investment returns.