Research On The Risk Control Of Backdoor Listing In Cultural Media Industry

Enterprises can only go further and further on the road of healthy and rapid development if they have a sustainable flow of capital.Financing channels are the key to the survival and development of enterprises,and capital markets provide enterprises with good financing channels.Therefore,capital markets are an important choice for enterprises to raise funds.Enterprises usually open up capital channels through IPO(Initial Public Offering)and backdoor listing,but in comparison,direct listing is difficult for companies,so backdoor listing has become the first choice for many companies to log in to the capital market.After a successful backdoor listing,companies can quickly raise lower capital through the capital market to ensure that the company has a continuous and stable capital inflow,while also expanding the company's capital operation channels.The China Securities Regulatory Commission has revised the "Management Measures for Major Asset Restructuring of Listed Companies" several times.In the revision of the "Reorganization Measures" in 2019,backdoors were moderately relaxed,and the GEM allowed backdoors and supporting financing.Although the "Restructuring Measures" released a signal of relaxation,it does not mean that the regulation of "scrambled shells" is relaxed.Backdoor listing is a high-risk capital operation.How to regulate operations to prevent risks and successfully go public is a problem faced by all non-listed companies.Based on the relevant research on backdoor listing,this paper selects Yinji media backdoor high-gold food as a case,firstly describes the macro background of cultural media backdoor listing,and analyzes its backdoor listing.The status quo and the motivation for listing;followed by a brief introduction to the backdoor listing of Yinji Media,focusing on analyzing the risks it faces in the process of backdoor listing and the risk control measures taken,and the problems that exist after listing Analyze;finally draw the relevant conclusions,companies must recognize their own strength in the backdoor listing,carefully sign performance commitments,and at the same time pay attention to post-listing development issues to promote sustainable development of the company.This article analyzes the case,combines theory and case,analyzes the risks in the backdoor listing and related risk control measures,enriches the research on the backdoor listing of the cultural media industry,and puts forward suggestions on how to control the risk,and then leads to the backdoor listing Relevant enlightenment has certain reference significance for enterprises to backdoor listing.