Research On Performance Of Private Placement Of Zhongtian Financial Group Co.,Ltd.

Since China began to solve the problem of non-tradable shares in 2005,private placement has been favored by listed companies and investors.Private placement has become one of the most important refinancing methods of listed companies.However,there is great uncertainty about the returns of private placement.Many enterprises do not bring expected returns to investors after the directional issuance,or even make investors suffer losses.So the performance of private placement has been paid more and more attention.Exploring how to evaluate the performance of private placement will help listed companies make more wise judgments on the choice of financing methods.Through the most suitable way of financing,we can improve the value of enterprises better and faster.This thesis is based on the study of the theory of directional issuance and the performance of directional issuance.Combining with the background of China’s directional additional issuance in recent years,taking Zhongtinan Financial private placement as an example,this thesis analyzes the performance of Zhongtian Financial private placement from the perspective of market performance and operation performance by means of event study,comparative analysis and financial index analysis.It is found that the two directional offerings of Zhangtian Finance have a positive impact on the company’s performance in the short term,but in the long term,the company’s performance has not improved significantly.The content of this paper is closely related to the current situation of China’s market.On the basis of relevant theoretical research,this paper combines with specific cases to analyze,and puts forward corresponding countermeasures to improve the performance of private placement.This will provide references for other listed companies to choose private placement as financing mode.