A Case Study Of Ping An M&A Autohome

With the economic transformation and upgrading,the capital market continues to mature and acquisition of Chinese enterprises is increasing.Enterprises take the acquisition behavior,aimed at business consolidation,integration or collaborative innovation,to enhance the overall business performance and value.Ping An Insurance(Group)Co.of China Ltd.As one of the big three domestic insurance,So as to enhance business performance,Strengthen the financial holding group competitiveness,seize the opportunity to take the acquisition of small and medium enterprises.This paper made a study on the M&A process of Ping An Insurance(Group)Co.,Ltd and Autohome.from three aspects analyzed the impact of the acquisition on Ping An,that include business performance,auto finance,Financial Holdings Group business.Firstly,the paper introduced the history of Ping An and Autohome.Secondly,followed by analysis the acquisition of motivation,from the two aspects in detail--promotion of automotive financial services and strengthen the financial holding group business.Thirdly,this paper studied effect of acquisition.From the performance of the acquisition,the paper used the excess return method,the KMV model and the financial index method to analyze the changes of Ping An's value and performance.It is found that the improvement of Ping An's acquisition performance is not obvious,but the Autohome is just the opposite,Autohome can help improve the performance of Ping An.From the improvement of auto financial services,Ping an integrated auto finance business and automotive aftermarket services,so as to provide comprehensive financial services for customers.From strengthen the business of financial holdings group,Management synergy results from four dimension: Sales synergy,product synergy,technology synergy and brand effect acquisition.And eventually forms the core competitiveness of the financial holdings company.At the end of the article,the paper analyzes the case revelation which can be obtained from the acquisition case the paper studied,hoping to provide some valuable enlightenment for auto service companies and financial holding group listed companies in China.