Research On The Financial Performance Of Backdoor Listing Of Greenland Group

With the continuous reform of China's economic system and structural adjustment,the upgrading and transformation of state-owned enterprises are also advancing step by step.In order to speed up the listins process of state-owned holding enterprises,since 2009,the relevant units and departments of the state have issued important documents and promulgated supporting policies to speed up the overall listing of state-owned enterprises.In recent years.under the encouragement of national policies,the mergers and acquisitions of state-owned holding enterprises have been frequent,and the number of enterprises listed as a whole has increased significantly.In the process of direct listing,the process of IPO is complex and time-consuming.Therefore,most of the planned listed companies choose the special way of backdoor listing to avoid IPO and occupy a place in the securities market.Through backdoor listing,enterprises can not only achieve listing,but also bring vast funds for the development and growth of enterprise scale.Therefore,backdoor listing has become the first choice for most enterprises to merge and reorganize.At present the State-owned Assets Supervision and Administration Commission of the State Council has repeatedly stressed the need to speed up the overall listing process of state-owned enterprises and realize the joint-stock system reform in an all-round way.However,whether the overall listing can effectively improve the productivity of enterprises.how much can it improve,whether the effect is long-term,and whether it is applicable to all enterprises,there is no clear answer,we need to conduct in-depth research.This paper chooses Greenland Group as the research object.and studies the typical case of its backdoor Jinfeng investment listed successfully.Firstly.using the method of literature research,we collect,summarize and sort out the literature about backdoor listing at home and abroad,introduce the related concepts and theories of backdoor listing and corporate financial performance,lay a solid theoretical foundation for follow-up research,and make the research results more reasonable and comprehensive.Secondlv.combined with the analysis and comparison method,based on the relevant theory.the paper compares and evaluates the financial situation of green group backdoor before and after listing from two perspectives.in order to test the completion of backdoor.Then,through the above analysis,the reasons for the financial performance changes of Greenbelt Group after backdoor listing are obtained.Finally,the paper summarizes the experience and Enlightenment of perfecting the backdoor listing of Greenbelt Group,and gives five suggestions to improve financial performance.