Research On Performance Evaluation Of S Express Company's Backdoor Listing

In China,successful listing of companies can directly obtain funds from the stock market.In this case,most of the companies compete to go public.However,due to the stringent IPO audit standards in China and the long time required,many companies with funding needs wait too long.Or can not meet the IPO standards,they will pay attention to backdoor listing.After 2016,China's courier companies went public,and the capital competition in the express delivery industry entered the second half.Due to external industry competition and internal diversification strategy,S Express Co.,Ltd.'s express transportation business is facing huge financial pressure.In order to solve this dilemma in time,S Express has shifted from preparing IPOs to backdoor listings.This article uses the incident research method,financial index analysis method,the same industry comparative analysis method to study the performance of this backdoor listing.After the event research method,it found that the cumulative excess return rate was positive during the window period,which brought huge profits to shareholders holding shares.The financial index method analyzes the financial performance of S Express Co.,Ltd.after it is listed on the back door.The financial indicators of S Express Co.have greatly improved in the first year after listing,and the profitability of companies after listing has continued to increase.Based on the comparison of the financial data of the same industry under DuPont analysis,the horizontal comparison analysis shows that the S courier company is still in a stable position in the same industry after its listing.In the fifth chapter,the article proposes relevant inspiration and experience based on the actual situation of S Express.The sixth chapter summarizes the performance of S company before and after listing,and draws the conclusion of this paper.Judging from the conclusion of this case,the funds raised by the S express delivery company after backdoor listing can help realize the diversification strategy of the company and maintain its position in the express delivery industry,enriching the financing channels of the company and reducing the direct financing and indirect financing of the enterprise.The cost will provide impetus for the diversified development of the company.