Research On Motivation And Performance Of Dezhan Health Backdoor Listing

With the rapid development of China's economy,various enterprises,as the main body of the market,have developed vigorously.To expand production scale and seize market share,enterprises need a lot of financial support.Compared with traditional IPO financing,backdoor listing requires shorter listing time,simpler procedures and lower listing costs.More and more enterprises are scrambling to adopt backdoor listing in order to obtain a large amount of financing and improve their competitiveness.In recent years,especially in 2016,more than 20 enterprises have chosen backdoor listing,which fully shows that backdoor listing has been recognized by more and more enterprises,and gradually accepted by most enterprises.In such an environment,this paper chooses the case of Dezhan Health Backdoor Listing in the pharmaceutical industry to study.In 2016,Jialin Pharmaceutical Co.,Ltd.successfully landed in the capital market by listing Tianshan Textile Co.,Ltd.And through this listing to expand the scale of enterprises,optimize the management structure of enterprises,improve the R&D and innovation capabilities of enterprises,lay a solid foundation for the long-term development of enterprises.Therefore,on the basis of the motivation and performance of backdoor listing,this paper makes a comprehensive analysis of the process and effect of backdoor Tianshan textile in Jialin Pharmaceutical Industry.In this paper,the analysis of Tianshan textiles backed by Jialin Pharmaceutical Industry,starting from the industry background,introduced the situation of both sides of the transaction,listing mode and so on.Secondly,it analyses the motivation of backdoor listing,mainly from the external overall environment and the actual situation of the enterprise itself.Secondly,the short-term performance of enterprises is analyzed by event study method,and the long-term performance level of enterprisesis analyzed by financial index analysis method and non-financial index analysis method.By analyzing the data of financial indicators before,during and after backdoor listing,we can clearly find the impact of backdoor listing on corporate performance.Non-financial index analysis method is from the enterprise development strategy,sales channels,personnel management and corporate culture to analyze these aspects.Finally,according to the above analysis,it provides reference and relevant suggestions for future pharmaceutical enterprises that want to achieve listing through backdoor.