The Analysis Of STO's Express Backdoor Listing

In recent years,with the rapid growth of China's Electronic Commerce,the domestic express delivery industry is growing more and more faster,and the market competition is becoming more and more fierce.Many express delivery companies have started capital operations and been financing through backdoor listing.Under the background of that the major private enterprises in the express delivery industry are competing to enter the capital market by the way of backdoor listing,This paper analyzes the case of successful listing of STO through the backdoor IDC.These analyses mainly include the the reasons of STO's backdoor listing,the operation process of backdoor listing,and performance changes of this company.There are two main analytical method.The first is case analysis.The second is Financial indicator comparison analysis.This paper mainly describes the contents of the five parts.The concrete steps of summarizing STO's backdoor listing make up the first part.The second part cintains the research of the motivation of STO's backdoor listing.The third part is composed of comparative analysis of the impact of backdoor listing on STO's financial performance and non-financial performance.The fourth part is discussing some problems still existing in STO after the completion of the backdoor listing.The content of last part is to summarize the success and enlightenment of this successful backdoor listing.Its purpose is to better understand the significant impact and specific role of backdoor listing on express delivery companies,and to broaden the case study of the backdoor listing of the express delivery industry.According to the research,STO's backdoor listing thought IDC in the A-share market is mainly due to the lower threshold of the backdoor listing than the IPO,and it can also obtain government's support.What's more,It can quickly raise funds through the capital market,which is conducive to expanding the company's scale and offering sufficient financial support to the follow-up strategic layout.After the backdoor listing,STO has significantly improved its solvency,profitability and development capability,and performed well in financial performance.It also realized the optimal allocation of resources,and gained positive effects in the investment market,and obtained brand promotion.The study of this case has certain reference significance for China's current light asset industry represented by express delivery industry to enter the capital market.