A Study On The Performance Of Asset Peeling Of Listed Companies In Financial Dilemma

Listed companies are not only the core of the securities market,but also the representatives of outstanding enterprises.Only companies with better comprehensive capabilities can obtain listing qualifications.Therefore,Chinese companies are striving to obtain listing qualifications,which makes the precious listing qualification more popular and unlisted.Companies are improving their capabilities to go public,while listed companies are trying to protect their listing qualifications.Moreover,due to the way of asset restructuring,it can effectively improve asset liquidity and enhance the core competence of enterprises,and it is fast and efficient.It can help enterprises to turn to development strategies and promote industrial upgrading.Therefore,in such a big environment,this will undoubtedly become ST company's important means of maintaining listing qualifications.With the change of China's business environment and the maturity of capital operation mode,most financial distress companies will choose asset divestiture,an important way of contractive restructuring to retain the "shell" resources,and achieve the cap,in order to ultimately improve the company's performance and promote long-term Healthy development.This paper mainly summarizes the concept of financial distress and asset divestiture,the research on the divestiture performance of listed companies' assets and the research status of domestic and foreign research on financial distressed company restructuring performance,and reviews the research status.Then the development process of special treatment system And the relevant regulations and the types and causes of asset divestiture were sorted out.The full text is mainly based on the combination of theoretical analysis and case study.Therefore,based on the theoretical analysis,the overall situation of *ST Sanmao is introduced,and the related process of stripping is analyzed,and then the *ST Sanmao is passed.The annual report and the Guotaian database obtain relevant data,based on which the performance of *ST Sanmao divestiture is analyzed,which is mainly divided into three aspects: market performance,financial performance and non-financial ability.The divestiture of assets has had a good impact on the performance of *ST Sanmao.Finally,it concludes that the divestiture can effectively enhance the value of the enterprise,and at the same time enable the enterprise to concentrate its core business and enhance its competitiveness.Based on theconclusion,the following recommendations are made: the company should choose the appropriate method and timing to divest;secondly,focus on the early stage.The preparatory work and the reorganization and financial integration of the resources after the divestiture;in the end,when the divestiture is carried out,the overall development strategy of the divestiture should be linked to promote the overall development of the enterprise.In this paper,when analyzing the performance of *ST Sanmao assets before and after the divestiture,because there are few non-financial analysis related contents in the existing research,this article takes this as an innovation point;in addition,this article uses case to financial trouble The company's asset divestiture behavior is studied and used as an innovation point.This is because many studies on the impact of asset divestiture on listed companies are analyzed in the form of empirical research,which helps to enrich the case study of asset divestiture.Related content.Based on the divestiture of *ST Sanmao Assets,the full text is to sort out and analyze the excess returns and profitability,solvency,operational capability and growth ability of the distressed companies before and after the capping,and non-financial aspects.The ability to conduct research provides relevant theoretical guidance for listed companies in the financial distress to choose whether to choose to divest.