The Case Study Of The Backdoor Listing Of Jialin Pharmaceutical Co.,Ltd

In recent years,China is in the economic transition period,the market competition is increasingly fierce.More and more enterprises are eager to expand the scale of enterprises and enhance their core competitiveness by public financing.IPO reviews are long and restrictive,making it difficult for many companies to meet their standards,therefore the backdoor listing becomes a preferential choice for enterprises to raise funds in capital market.Through the backdoor listing,enterprises can reintegrate resources,allocate funds reasonably,increase technology R&D expenditure,and realize enterprise strategic development goals.However,there are a lot of problems in the backdoor listing of enterprises.For example,the shell resources are not as good as expected,the benefit of trading scheme is low,many enterprises which have successfully borrowed the shell also find that there is a broken chain,poor integration effect,poor performance and so on.Therefore,it is of certain significance to study the whole process of backdoor listing.Firstly this thesis discusses the theoretical concept of backdoor listing,operation mode of M&A fund and accounting treatment method,on the basis of which,the case of the successful listing of Tianshan Textile Co.by Jialin Pharmaceutical Company is analyzed deeply,finally concludes the experience and enlightenment.In the case study of the backdoor listing of Jialin Pharmaceutical Company,the basic situation of the two parties,the motive of the transaction and the scheme of the transaction are introduced.Then,through the comparison of the financial situation before and after to analyze the effect of the merger fund on the enterprise backdoor listing.Through the comparison and analysis of the backdoor listing of different pharmaceutical companies,the cost-benefit of the backdoor listing scheme is analyzed.Through the comparison of different accounting treatment methods after backdoor listing,this thesis deeply analyzes the accounting treatment problems.Finally,it can be concluded that the M&A fund has a driving effect on the successful backdoor listing of enterprises.Selecting the appropriate trading mode is the key to the success of backdoor listing.The adoption of the equity transaction method is conducive to the continuous development of the company's backdoor listing.Through the case study of the successful backdoor listing of Jialin Pharmaceutical Co.,this thesis provides a new way to solve the problem of private enterprise strategic development financing.Compared with debt financing,equity financing is more advantageous in the introduction of M&A funds,which can make full use of its professional resources to help promote the listing of enterprises.In addition,the design of the scheme has great flexibility,and the accounting treatment with equity transaction has great advantages,which can provide references for companies that are ready to list on the shell or are operating backdoor listings.