The Case Study Of BAIC New Energy Restructuring Qianfeng Shares

With the gradual increase in the promotion of energy conservation and emission reduction policies in China,the reduction of energy dependence has gradually become the development trend of the international automobile industry and environmental protection industry,and the new energy automobile industry has gradually developed and expanded.However,as foreign-funded auto companies continue to enter the domestic market,competition among the new energy vehicle industry is intensifying.At this time,the situation of competition has been formed,and continuous financial subsidies are not conducive to the long-term and healthy development of the entire industry.In order to achieve a successful transition from policy-oriented to market-oriented,domestic new energy vehicle subsidies have continued to decline significantly.New energy vehicle companies,especially some self-owned brands and new car manufacturing forces,are generally facing financial pressure.Broadening financing channels to alleviate financial pressure has become The current biggest problem facing new energy vehicle companies.When an enterprise encounters difficulties in its development,it often chooses to make self-changes to better adapt to changes in the market.Under this background,domestic new energy automobile companies have sought listing.However,due to the strict IPO issuance conditions in China,the threshold is high and it takes a long time,it is often difficult for companies to successfully pass the audit.The reorganization of enterprise assets generally occurs between two enterprises,and the reorganization behavior can effectively allocate enterprise resources and enhance enterprise efficiency.The way in which companies restructure listed companies to enter the securities market has the characteristics of low threshold and time-consuming.Compared with IPO,it can effectively avoid the strict audit and requirements of the CSRC.It is an effective way for new energy automobile companies that urgently need to broaden financing channels to solve capital problems.In this paper,a case study method is used to analyze the reorganization events of BAIC New Energy and Qianfeng.Firstly,it summarizes the research results of domestic and foreign scholars on the causes and effects of corporate asset restructuring,and expounds the concept of asset reorganization and related motivation theories.Secondly,it introduces the reorganization case of BAIC New Energy,including the background of the case,the profile of both parties to the transaction and the reorganization process.Again,focus on the analysis of the reorganization motivation of BAIC New Energy,on this basis,analyze the specific effects of reorganization,and summarize the successful experience of this transaction.Finally,on the basis of the above research,summarize the enlightenment and put forward relevant suggestions to other new energy vehicle companies and the government.The results of the case study show that: First,the asset reorganization of BAIC New Energy was carried out for the purpose of alleviating financial difficulties,enhancing market competitiveness and achieving synergy.Second,after the reorganization,the capital pressure of BAIC New Energy was effectively eased,the market competitiveness was significantly enhanced,and the overall synergy effect was achieved.The expected goal is basically achieved and the transaction is more successful.Third,the successful experience of this reorganization is relatively rich.BAIC New Energy chose a suitable listed company and a reasonable restructuring model,which contributed to the success of this transaction.At the same time,the transaction was strongly supported by relevant national industrial policies,reflecting the extremely important role of the government in the process of corporate asset restructuring.On the basis of the research conclusions,case enlightenment is put forward.For example,it is very important to choose the right counterparty.The right restructuring model is the key to success and the restructuring behavior is an effective way for new energy vehicle companies to enter the capital market.At the same time,this article puts forward relevant suggestions for new energy vehicle companies and government departments.New energy vehicle companies should accelerate resource integration and actively prevent restructuring risks,while deepening cooperation with the government.The government should also increase support for the restructuring of new energy vehicle companies,effectively improve the subsidy retreat policy,actively guide vehicle companies to increase investment in technology research and development,and increase financial assistance to vehicle companies.