Research On The Performance Of Greenland Group's Backdoor Listing

In recent years,China's stock is listed on the implementation of quota management under the condition of the listed companies is a very scarce resource,the value of shell resources at the present stage of listed companies although not like it like that,but the listed companies still need to meet more stringent conditions,approved by the SFC to get listed qualifications,that is say,the scarcity of listed companies still exist,so it produces a large number of non listed companies,to indirectly through the backdoor listing of the company this way.At the same time in listed companies,due to various reasons,the performance of listed companies is not satisfactory,under various pressures and practical considerations to the listed companies to transfer or sell shell,thus the formation of the current booming the backdoor listing of the situation.In this paper,the Greenland Group backdoor Jinfeng investment company listed as the research object,from a financial point of view,to study the antecedents and consequences of backdoor listing.First of all,the definition of related concepts is defined to lay a theoretical foundation for case analysis.Secondly,the case background is introduced,and the motivation of the restructuring of the backdoor party and the backdoor is analyzed from the company performance and industry status.Then the paper focuses on the analysis of the performance of the green group after the listing of the shell.The performance of this paper is divided into two aspects: market performance and financial performance.This paper mainly adopts event study method and shareholder wealth to analyze the market performance of the backdoor listing,analyzes and summarizes the financial performance of the backdoor listing by using financial index analysis method,and finally puts forward some suggestions to improve the strategy of corporate backdoor listing.