Analysis Of Motivation And Financial Performance Of S.F HOLDING Backdoor Listing

In recent years,due to the rapid development of the Internet and e-commerce,the express delivery industry has emerged and has grown rapidly,which has played a crucial role in the development of the national economy.Since the Nineteenth National Congress,the State issued the “13th Five-Year Plan for Express Industry Development” and industry guidance,focusing on the development of the express delivery industry.Despite policy support,due to the homogeneity of the express delivery industry,fierce competition at low prices,and shrinking profit margins,the industry transformation is imminent.To achieve transformation requires the support of capital.There are two main sources of funding for capital markets in China: IPO and backdoor listing.Due to the particularity of the express delivery industry's demand for capital flows coupled with the advantages of backdoor listing,backdoor listing became the first choice for the express delivery industry.At present,the top five companies in the domestic courier industry have adopted the method of backdoor listing.Therefore,research on backdoor listing of the express delivery industry is still very valuable.This article discusses the causes of S.F Holding's backdoor listing and evaluates its financial performance,and analyzes the reasons for changes in its financial performance.As the leading enterprise in the domestic express delivery industry,the success of the backdoor listing by SF Express is undoubtedly a milestone in the industry and has certain reference and guidance.Therefore,the article used S.F's case study of Dingtai New Materials to conduct in-depth research.This article first gives an overview and summary of the theoretical basis for the backdoor listing,and then introduces the transaction process for the company's situation in the backdoor.Then the author will analyze the motivation of the backdoor and shell companies,and use the financial indicator analysis to focus on financial performance.A detailed analysis will be conducted to compare the performance before and after the listing to more intuitively reflect the changes brought about by the backdoor listing to S.F Holding.Finally,through the combing of events,the conclusions and inspirations are drawn to help companies that plan to backdoor listing in the future.The article draws the following conclusion: The backdoor listing of S.F Holding has improved its brand effect,and injecting the assets of the express logistics service business with good development prospects to the shell company not only improves the company's operating capability,but also protects the rights and interests of the company's shareholders and achieves a win-win situation.In terms of financial performance,the overall financial performance after listing has been greatly improved compared to before,but its operational capacity needs to be strengthened.