A Study On The Case Of Backdoor Listing Of SF Company

Funds is fundamental for company development.If the company wants to have excellent human resources,strong material resources and a wide range of marketing channels and other resources,it needs to have sufficient funds as a basis.Listed companies can use the capital market,the issue of stocks,bonds to raise more capital,while the company which has no listed seats in the stock Exchange does not have a unique advantage,so many companies are pursuing listing to meet their own development needs.Backdoor listing and IPO(initial public offering)are two methods to come into securities Exchange market,Backdoor listing is less difficult,and IPOs relatively difficult,hard requirements and high threshold,so many companies choose to borrow shell listing.In the past three years,there have been many companies want to borrow shell listing.Express industry at this stage of the present profit space is gradually compressed,increasingly competitive situation,so enterprises need a lot of money to develop their core competitive advantage,so many express companies choose to borrow shell listing.Since SF Company was established,it is rarely financing,mostly self-sufficient.Compared with the beginning of the SF company,the number of competitors in the industry increased,and competition is more and more fierce,and profit space gradually compressed.In the context of national policy support,the industry's competitors all choose to go public.In this environment,SF company is no exception.In May 2016,SF announced backdoor listing,only spent 141 days to successfully login a-share market.In terms of time,the backdoor listing is much shorter than the IPO time.Shell companies are generally less profitable enterprises,through the shell listing,SF can use the capital market resources to achieve the maximum benefit of the capital market.This article introduces the case of SF company backdoor listing,it analyzes the motives of SF company backdoor listing,analyzes the influence the financial performance and non-financial performance(including ownership structure and refinancing),and concludes the experience of the SF Company's successful listing,and provide reference for the non-listed company.