Research On The Performance Of Backdoor Listing Of Antarctic Ecommerce Based On EVA And Catastrophe Progression

With the continuous development of "Internet +" technology and the promotion of various favorable policies,China's e-commerce industry has developed rapidly.In the face of fierce industry competition,many e-commerce companies choose to go public to gain a competitive advantage,and backdoor listing has become an important choice for some companies in the growing stage to enter the capital market.In recent years,with the introduction of relevant policies by the state,the standard of backdoor listing has become higher and higher,and the difficulty of successful listing has also become greater.Under this background,researching the experience and problems of backdoor listing of e-commerce enterprises has certain significance and value for the development of e-commerce enterprises.This article takes the Antarctic e-commerce backdoor listing of Xinmin Technology as the research object,and analyzes the impact of backdoor listing on corporate performance.Firstly,it summarizes the research progress in the related fields at home and abroad,and expounds the related concepts and theoretical foundations,which lays a solid theoretical foundation for the follow-up research.Secondly,the detailed analysis of the listing process of Antarctic e-commerce backdoor Xinmin Technology,including the basic situation of both parties,the background and motivation of the Antarctic e-commerce backdoor listing,the process and plan of the Antarctic e-commerce backdoor listing.Then,select the financial data of Antarctic e-commerce from 2013 to 2018,use the event research method to analyze the impact of backdoor listing on the short-term performance of Antarctic e-commerce,and use the EVA evaluation system and the mutation series method to analyze the long-term performance of backdoor listing on Antarctic e-commerce Impact.Through the study of the article,tthe following main conclusions are drawn:(1)Antarctic e-commerce has an excess cumulative return of 29.18% for each of 30 trading days before and after the announcement of backdoor listing,indicating that backdoor listing has played a significant role in the short-term performance of the company The promotion effect,investors are optimistic about the backdoor listing of Antarctic e-commerce,the company's stock price can be increased,and the wealth of shareholders of the company will increase in the short term.(2)The economic added value of Antarctic e-commerce after the backdoor listing has been significantly improved compared with that before the backdoor listing,and the growth rate has gradually become larger,indicating that the backdoor listing has brought a lot of value to the company and the company's development potential is strong.(3)The operating ability,growth ability and management synergy of Antarctic e-commerce are generally higher than that before the backdoor,and the profitability and operating synergy of the enterprise are generally the same as before the backdoor,but the debt service ability and comprehensive The tax rate is lower than before the backdoor.(4)Antarctic e-commerce has problems in the process of listing,such as poor integration of enterprise resources,the need to improve risk prevention capabilities,improper cost control,and low investment in social performance.In view of the above problems,this article proposes relevant suggestions for the future development of Antarctic e-commerce: first,pay attention to asset operation management and improve the quality of resource integration;second,pay attention to the prevention of corporate risks;third,companies should strengthen the control of costs and expenses;fourth,increase investment in social performance To raise awareness of social responsibility.