Studies On Logistics Enterprise Back-door Listing

China is transitioning from a planned economy to a market economy.Therefore,modern logistics industry is a natural result of society's economic development.From an international perspective,logistics industry is moving into an age of transportation merger and acquisitions(M&A).As global M&A is on the rise,the logistics industry enters a fast growing phase.From a national perspective,in order to adapt to economy globalization,China's major logistics companies are taking advantage of M&A to increase in size and leverage resources.This helps them to compete on a global level.The benefits of announcing an IPO to enter capital market include: moving around massive amount of assets,increasing brand awareness and impact,and finally,using stock price changes to monitor the company's performance and make adjustments accordingly.There are primarily two methods to have an IPO for Chinese companies : IPO and reverse IPO.As a mainstream method of making the company public,IPO requires a high standard of company's core competencies and sales.However,although these companies excel in techniques and sales,they still struggle to achieve the qualifications for a traditional IPO.The long wait for a successful IPO deterred many companies even though they are experiencing exponential growth and are in desperate need for financing to match with its rapid expansion.Once they miss this opportunity,these companies will be eliminated by the highly competitive environment and fast-growing economy.This article introduces the related concepts and theories of backdoor listing.Based on the theories of corporate mergers and acquisitions theory,it focuses on the analysis of the characteristics of the logistics companies backdoor listing and analyzes the background of the environment.In addition,a detailed analysis was conducted on the operating plan of SF's backdoor listing and the analysis of important links such as major asset swaps,issuance of shares,and the collection of matching funds for backdoor listing revealed the actual operation of SF's backdoor listing.Through the research of this paper,the reasons for the smooth listing of SF companies are summarized.At the end of the paper,the research conclusions and related suggestions of this paper are drawn,and the positive significance of the backdoor listing method to the financing of logistics companies is explained.It provides a theoretical basis for the listing of logistics companies in the future.