Research On The Performance Of Qingdao Haier Overseas Mergers And Acquisitions

At present,China's social economy is developing rapidly,and the market scale is expanding rapidly.Under this circumstance,in order to optimize its own organizational structure and allow itself to have more room for growth,the company has adopted M&A.Under the guidance of the “One Belt,One Road” policy,Chinese enterprises have to “go out” and break through the “ceiling” restrictions.For this reason,there has been a wave of cross-border mergers and acquisitions,especially after 2000,this boom has intensified.Large and small,all walks of life,or through the same cooperation between enterprises in order to achieve a win-win situation;or become a merger by the party to absorb investment,the introduction of advanced technology,can be described as enjoying it;or targeting foreign markets,Cross-border mergers and acquisitions of overseas companies.In particular,the investment method of overseas M&A enterprises has become more and more the heart of Chinese enterprises.This paper selects Qingdao Haier's acquisition of general-purpose home appliances as an research object,and uses methods such as event research method,financial index method and non-financial index research.The first part of the thesis is research background,research significance,literature review,research purposes and methods;the second part is to explain the related concepts and theoretical basis of overseas mergers and acquisitions;the third part is the industry background and the development status of China's household electrical appliance enterprises,China's household electrical appliance enterprises The motivation for overseas mergers and acquisitions;the fourth and fifth parts are the core part of this article,introducing the two sides of the overseas acquisition,namely Qingdao Haier and General Electric Appliances,as well as the entire merger and acquisition process.Through the short-term and long-term research on performance changes,this paper analyzes the reasons for the improvement of the overall performance of Qingdao Haier's merger and acquisition of general household appliances,and finally puts forward the conclusions and recommendations of the article,and also explains the research shortcomings and prospects.research shows:(1)In terms of short-term performance: Through the trend of stock price changes and the calculated excess cumulative rate of return data,we can see that Qingdao Haier's acquisition of general-purpose home appliances in the short-term is optimistic about the overseas mergers and acquisitions market,and the market reflects good,and this time Mergers and acquisitions have increased shareholder wealth,and the market is optimistic about this event.(2)In terms of financial performance,after experiencing the M&A event,we can see from the data that the growth ability should be regarded as the best response among the four indicators.Haier quickly completed the general household appliances through its light integration concept.The integration,the proportion of income and output increased,the most important thing is that the acquisition of general-purpose home appliances makes Qingdao Haier seem to step on the springboard and the asset scale is rapidly expanding,so the growth ability is good.However,after the merger,Qingdao Haier's performance in terms of solvency,operational capability and profitability is flat and has certain volatility.There are two main reasons for this: First,as more and more companies want to contact the home appliance industry,a large influx has occurred,product output has increased substantially,demand for raw materials has increased,and prices of bulk raw materials have increased significantly,which has increased the company's Production costs;another reason is the impact of the overall environment,but also the poor performance of these three indicators.(3)In terms of non-financial performance,whether it is from Haier's brand influence or brand competitiveness,there has been a significant improvement;on the other hand,Qingdao Haier's market share continues to expand depends on the combination with general-purpose appliances.After the sales growth point,General Electric Appliances shared advanced R&D technology with Haier and integrated resources,so the indicators of non-financial performance have been significantly improved.Overall,the Qingdao Haier overseas acquisition of general-purpose home appliances has made great achievements and basically achieved success.Through the above conclusions,four suggestions are proposed,namely: accurately selecting the acquirer,accurately estimating the strength of the merger and acquisition,and the prospective merger should have a good development prospect,and finally cultivating relevant talents for the future development of the enterprise.I hope that through this research,we can truly provide a powerful reference and valuable experience for Chinese enterprises to "go global" and break through the limitations of "ceiling".In addition,we will also open up international horizons for our enterprises,seize international share,and achieve globalization.Certain revelation.