Greenland Group's Overall Listing Motivation And Performance Analysis

In the early stage of the development of China's securities market,in the face of the regulatory requirements for the size and profitability of listed companies,many companies can only split the assets of the group with good development capabilities and profitability for listing.With the development of the socialist market economy,the scale of enterprises brought about by spin-off listing is small,the development stamina is insufficient,the corporate governance mechanism is imperfect,and the problem of encroachment of major shareholders caused by related transactions becomes more and more prominent,and it is unable to adapt to the current economy.These problems require financial innovation to solve,and the concept of overall listing came into being.The so-called overall listing refers to the behavior of the group company to realize the listing financing by injecting the main business assets or all assets into the listed company in various ways.Its essence is a kind of“reorganization and listing”,which is the process of “splitting and listing” and zeroing.In addition,the overall listing is often linked to the reform of state-owned enterprises.At present,it is the tough stage of the reform of mixed ownership of state-owned enterprises.In the “Guiding Opinions on Deepening the Reform of State-Owned Enterprises” issued by the Central Committee of the Communist Party of China and the State Council,it is clearly stated that it is necessary to focus on promoting the overall listing of commercial state-owned enterprises in which the main industry is in a fully competitive industry and field;actively introducing various investors to achieve equity diversification.We will vigorously promote the restructuring of state-owned enterprises and create conditions to realize the overall listing of state-owned enterprises.It can be seen that the overall listing is of great significance to the development of Chinese enterprises,especially large enterprises.Based on the analysis of the information and materials involved in the overall listing of Greenland Group through the reverse acquisition of Jinfeng Investment,this paper has conducted in-depth research and analysis on the motivation and performance changes of Greenland Group's overall listing.The full text is divided into six chapters.The first chapter is the introduction,introducing the research ideas and framework,research methods,innovations and deficiencies of this paper.The secondchapter is a theoretical overview of the overall listing,which mainly includes the definition of the overall listing,the main mode of the overall listing,the theoretical basis of the overall listing,and the introduction of the overall listing performance evaluation method.The third chapter is a detailed introduction to the overall listing case of Greenland Group.Including the basic briefings of the two parties involved,the specific process and program introduction of the listing,and a summary of the overall listing characteristics of the Greenland Group.The fourth chapter is the motivation analysis of the overall listing of Greenland Group.This chapter starts from the internal and external levels of the group and deeply analyzes the motivation of Greenland Group to choose the overall listing.The fifth chapter is the performance analysis of the overall listing of Greenland Group.Mainly from the two aspects of market performance and financial performance,the event research method and financial indicator analysis method are used to quantitatively analyze the impact of the overall listing on the performance of Greenland Group.The sixth chapter is the summary and inspiration of the overall listing analysis of Greenland Group.Summarizing the Greenland Group's successful implementation of the overall listing experience and potential problems to provide reference for other companies preparing to go overall listing on the base of previous analysis of the listing process,motivations and performance.