Analysis Of The Financial Effect Of "SOJO" From The New OTC Market To GEM

China's multi-level capital market has been gradually improved through continuous exploration and development.The new OTC market is an important place for equity transfer,and its development in previous years has shown an amazing speed.However,most of our country's small and medium-sized enterprises are small-scale,less capital and don't have enough conditions to appear on mature capital markets directly.Therefore,the development of the new OTC market is conducive to the problem of financing difficulties for small enterprises and has a positive effect on the development of small enterprise.The company's listing of the new OTC market will not only raise the funds needed for the company's development,but also enhance the company's comprehensive strength and create conditions for future transfer to other capital markets.The company has different financing needs at different stages of development.With the rapid development of the company,the new OTC market can no longer meet the company's demand for funds,so more and more companies choose to listing other markets.However,due to the limitations of the new three-board market,there is no green channel for the transfer,which has caused the new three-board listed companies to have no convenient transfer channels,and in the process of transferring the company,the company has to go through a more cumbersome review process.Besides,the effect of the transfer is also unknown.This paper takes Shuangjie Electric's new OTC market transfer board as an example for analysis.In the process of research,the writer read a lot of literature to study,and constantly think about it,sort out my own ideas;take the company's transfer board as the critical point on the day of the listing,and use the case analysis and comparative analysis method to adjust the financial indicators and non-finance before and after the company's transfer.The indicators and financial effects were analyzed in detail.The event research method was used to analyze the market reaction generated by the company's transfer.First introduced the development of the new OTC market.Secondly,based on the development of the new OTC market and the status quo of the transfer,analyzes the company's transfer background and transfer process,and analyzes the motives of Shuangjie Electric Transfer from the perspective of the new OTC market and the company itself.Then analyzes the company's financial indicators from four aspects:solvency,operational ability,profitability and growth ability.The paper selects the market share and innovation ability to analyze the company's non-financial indicators,and uses the event research to analyze the impact of the company's shareholder wealth after the transfer to the GEM,and analyzes the effect of the company's transfer from the time cost and capital cost of the company's transfer.Finally,the example of Shuangjie Electric's successful transfer has brought inspiration to other enterprises and the new OTC market.The conslusion shows that after Shuangjie Electric transferred the board,its growth ability and solvency are significantly improved,the operating capacity has been improved to a certain extent,and the profitability improvement effect is not obvious;the market share and innovation ability of the company after the transfer has also increased;the company's shareholder value has also improved,but the transfer also makes the company bear a relatively large opportunity cost.This paper mainly analyzes the effects of individual companies after the transfer,due to the differences between the company and the industry,the results of the research must be insufficiently representative,in the future research,it is necessary to further explore the effects of the transfer and the problems of the new New OTC market and the transfer mechanism.