Case Study About The "Gambling Agreement" Of Nanji E-commerce Company

The Valuation Adjustment Mechanism,known as the "reconciliation agreement",is essentially an option clause signed by investors and financiers to protect their own interests."Bet agreement" itself is a theory to investment and financing agreement,the two sides a win-win results for a hungry for more financing enterprises,the existence of "bet agreement" can help them to complete as soon as possible with the investor financing negotiations,opportunity fleeting,the development of the enterprise financing that can be done as soon as possible the more,the development of the enterprise after the resistance will be smaller."Bet on agreement by" the effects of the incentive to the enterprise,enterprise management will be responsible for the enterprise the management activities,with abundant capital and the demand is higher than bank interest returns for investors,by signing a "bet agreement" to the enterprise investment has both the chance to get considerable profits,also can to a certain extent,reduce the investor in project failure,financing of enterprise management crisis brings to the investor losses.In 2004,the successful case of "bet" between mengniu and Morgan Stanley pointed out a brand new channel for financing and expansion for many Chinese companies."bet agreement" began to be known by Chinese enterprises,and new enterprises continuously participated in such "bet" to seek better development.It has been more than ten years since mengniu "bet",and the "bet" of Chinese enterprises has its own success or failure,but the overall success rate is not considerable,the signing of "bet agreement" is even considered to cause losses to investors.How to complete the requirements of the "gambling agreement" has become the focus of the "gambling agreement" researchers.At present,the academic focus of China's valuation adjustment mechanism is mainly on the risk and legitimacy of the agreement itself,and the cases can be divided into three categories: first,the successful cases represented by mengniu;Second,failure cases including taizinai,yongle electric appliance and south beauty;The third is the legal case caused by the agreement dispute between haifu investment and gansu shiheng.Due to the imperfection of China's relevant laws and the potential risk of destabilizing the financial market contained in the "gambling agreement",China securities regulatory commission still holds a negative attitude towards the situation that the companies to be listed have "gambling agreement".With the continuous improvement of China's financial market,relevant risk management mechanism and financial laws and regulations,it is expected that the valuation adjustment mechanism,as a way for enterprises to expand financing,will be gradually recognized by themarket and management institutions.This paper focuses on the financial status changes and the company's choice of business strategy before and after the signing of the "gambling agreement" for a successful enterprise,and tries to find out the internal reasons that lead the enterprise to success.Success again this analysis,find out the cause of our country enterprise has the universality of elements,the successful experience to other enterprises,and pay attention to the possible risks in the process of operation,in order to improve the success rate of the enterprise to participate in "bet" this kind of research has certain practical significance and realistic significance.This article through to the South Pole electricity sign "bet agreement" with the new civilian technology business strategy and financial situation changes before and after the analysis,the Antarctic electricity "bet" this time the main reason for the success can be attributed to the following: main business for the trade-off for themselves,abandoned to profitable business,leave still have development space of assets;Adjust enterprise strategy in time,seize market opportunity accurately,seek new profit growth point;According to the business situation and business philosophy of the enterprise to carry out reasonable business expansion,expand the scale of business operations;Attach importance to the long-term sustainable development ability of enterprises,maintain the healthy development of enterprises,and prevent enterprises from losing the ability of continuous development in the late period of "gambling".