Research On The Financial Effect Of The Private Placement Through Asset Injection By Guodian NARI Technology Co.,Ltd.

Because of the unique advantages of targeted offerings,such as freedom of choice for distribution targets,non-profit requirements,unlimited financing scale,and various subscription methods,they are favored by listed companies.Among them,the asset injection type is more widely used,the main reason is that the acquisition of assets by means of issuing shares to major shareholders can not only reduce the use of funds and avoid financial crisis,but also improve the company's industrial chain structure and reduce competition in the industry.However,in order to obtain more benefits and resources,in the process of asset injection-oriented private placement,the controlling shareholder of a listed company may use its control power to transfer interests,such as injecting inferior assets into a listed company or adding value to an injected asset.In this paper,based on the analysis and consolidation of the existing literature on private placements and asset injections,Guodian NARI Technology Co.,Ltd.is taken as an example to analyze the financial effects of the asset injection-oriented private placement.In order to make the research conclusions more accurate,this paper uses 10 comparable companies in the same industry that are adjacent to Guodian Nanrui's market value and comparable companies in the same industry in the company that did not implement asset injection type private placement in 2011-2016-TBEA.The main financial data of the stock company limited by shares from 2011 to 2016 are used as reference to analyze the asset quality and financial performance of Guodian NARI.The research results show that from the perspective of asset quality,this issuance has certain positive effects on improving the liquidity of Guodian Nanrui' s assets,enhancing the company' s solvency and reducing the company' s operating risk;from the perspective of financial performance,this additional is conducive to the improvement of the operating capacity,debt repayment ability and development ability of NARI,but the impact on profitability is small,but in general,after the additional issue of State Power NARI The financial performance has also improved.In the end,this paper summarizes through the directional injection of capital injection by Guodian Nanrui,and puts forward three suggestions:clarify the ownership of the underlying assets,guarantee the quality of the underlying assets,and formulate a scientific and reasonable issuance program.