CITIC Group’s Overall Listing Performance Research

The Third Plenary Session of the 18th CPC Central Committee was held in 2013.The meeting clearly pointed out that it is necessary to further deepen the reform of state-owned enterprises.The overall listing,as one of the important ways to reform the state-owned enterprises,is not only helpful to optimize the group’s shareholding structure,improve the group’s management and control model,fully exert synergy,but also further promote the capital operation market and the securities trading market.Benign development.As a comprehensive large-scale state-owned enterprise,CITIC Group has invested in CITIC Pacific Co.,Ltd.,a Hong Kong listed company,in 2014,which has concentrated most of its operating net assets and business.In the end,CITIC Pacific changed its name to CITIC Limited and realized the overall listing of CITIC Group.This paper takes the overall listing of state-owned enterprise CITIC Group as the case study object,and uses the literature review method,case study method,quantitative analysis method and qualitative analysis method to comb the background of the overall listing of CITIC Group based on the existing research results and related theories.And the process,in-depth analysis of the overall listing results of CITIC Group,trying to explore the reasons for the choice of CITIC Group’s reverse acquisition method,the reasons for the choice of listing location and the purpose of introducing strategic investors,and then focus on the overall listing of CITIC Group The impact of corporate performance is aimed at providing a reference and reference for the overall listing of state-owned enterprises or comprehensive enterprise groups and achieving positive and positive corporate performance.Different from the previous research on the overall listing performance of the company is limited to the impact of financial performance,there are few analysis of some qualitative performance evaluation indicators,even if it is mentioned.Based on the analysis of the background,process and results of the overall listing of CITIC Group,this paper not only conducts a more comprehensive quantitative financial performance evaluation,but also selects some qualitative performance evaluation indicators according to the actual situation of CITIC Group,which comprehensively and deeply analyzes.The performance impact of CITIC Group’s overall listing.The research findings in this paper are as follows:First,CITIC Group achieved overall listing through reverse merger in Hong Kong.It has introduced a number of overseas strategic investors and became the first successful example of the state’s reduction of state-owned enterprise shares and cash recovery through international capital markets.Make useful explorations.Second,the overall listing of CITIC Group has a positive impact on its short-term market response,and long-term market performance is not obvious.Third,the overall impact of CITIC Group on the performance of listed financial operations is limited.As a comprehensive state-owned enterprise,the performance changes of different business segments are affected by many factors.The overall operating performance of the group has certain positive changes before and after the overall listing,and there is a certain potential for performance changes after the overall listing.Fourth,the overall listing of CITIC Group is of great significance for CITIC’s expansion of financing channels,improvement of shareholding structure,improvement of group management and control efficiency,enhancement of synergy and better participation in global market competition.The innovations of this paper are as follows:First,the comprehensive management of state-owned enterprise CITIC Group as the research object of the overall listing performance is selected,which has certain reference significance for exploring the reform of state-owned enterprises and developing mixed-ownership economy,and provides comprehensive listing for comprehensive enterprise groups.Second,in the financial performance research,a variety of quantitative performance evaluation indicators were selected,which not only carried out short-term and long-term market response performance evaluation,but also carried out financial indicators and EVA performance evaluation.Third,according to the overall listing of CITIC Group A variety of qualitative performance evaluation indicators were selected to conduct an in-depth analysis of corporate performance.