An Analysis Of The Performance And Causes Of The Backdoor Listing Of Private Enterprises In China

Since the reform and opening up,the process of market-oriented economy in our country has been accelerating.The market for capital has gradually matured.More and more enterprises want to enter the capital market through listing.Capital market financing with low cost,time and other outstanding advantages in our economic market,private enterprises have been very active.Currently,there are two ways for enterprises to enter the capital market in our country.One is IPO and the other is backdoor listing.However,China's current IPO implementation of the audit system,to be listed on the qualification of enterprises is very strict,and usually higher audit results uncertainty,compared to the backdoor listing time,financial costs are relatively low.So more and more private enterprises choose backdoor listing.In this paper,other scholars on the backdoor listing based on the relevant theoretical research,select a typical private-owned listed companies backdoor listing of Shanghai boathouse plum Umbrella case analysis,combined with the current status of China's private enterprises backdoor listing to the backdoor Motivation of Listing Behavior and Its Impact on Enterprise Business Performance.In this paper,UBIDA is used as an example to study the reasons of backdoor listing from the perspective of shell companies and the backdoor.By using the comparative method,the financial data of tourist information from 2011 to 2016 are selected and the key is obtained financial indicators,its backdoor listing before and after solvency,development capability,operational capacity,profitability comparative analysis.The main reasons behind the discovery of the backdoor listing are IPO waiting time is longer,and the current industry is fiercely competitive,in urgent need of substantial funding to support the development of the company,in order to ensure the status of the industry,improve industry visibility.The backdoor listing also had a positive impact on the operating performance of the tourist network,and all aspects of financial indicators improved.By combining the research and analysis of specific cases,the article summarizes the main motivation of the private listed companies in China and analyzes the influence of the backdoor listing on the corporate performance,which will provide some reference value for the subsequent private listed companies.