Research On The Backdoor Listing Issues Of SF

With the promotion of market economy in our country,the competition among enterprises is becoming more and more diversified.From the initial production orientation competition,the sales oriented competition,gradually developed to the strategic oriented competition,the capital orientation competition.The deductive process compared with the developed countries accelerated the decades,due to China's reform,incomplete in the early stages of the socialist market economy,but the capital market for enterprise financing demand of the growing and expanding.Such drastic evolution is bound to be accompanied by relatively strict supervision and regulation.Therefore,China's current listing of listed shares of enterprises is the approval system.Under the authorization mechanism,do not conform to the starting conditions and through debt financing also need enterprise has the certain scale,in2012,the new OTC listing transfer mechanism before the rise of the market has been rise through the backdoor listing method to obtain financing.Backdoor listing after rise because does not have a operation specification,left a hidden danger in the process of market development,in order to solve the contradiction between the market development and increased risk of securities regulatory commission(CSRC)modified restructuring new rules for many times,in 2016,the securities regulatory commission issued the measures for the administration of material assets reorganization of listed companies draft,intends to scrutiny restructuring listed the market behavior.In this context,the author analyzes the backdoor listing from shell company selection,transaction structure designThis article adopts the research method of theory combining with the actual,and the motion controlling backdoor dingtai textile new materials listed as an example,from the perspective of the above,the author analyzes the reasons of its success,and explained through the backdoor listing,the market values of the intrinsic factors of market behavior,on the basis of the analysis put forward the proposal,intended to make further standardize and develop the backdoor listing,to improve the success rate,and regulatory authorities to provide some reference to the market.At the end of this paper,the thesis summarizes the main viewpoints of the paper,and makes prospect for the future of backdoor listing of A-share.