Research On The Financial Strategic Transition Of Baili International After Delisting

With the rapid development of China's economy,more and more overseas listed companies choose to privatize and withdraw from overseas capital markets.After withdrawing,some of them hold a wait-and-see state,some return to China's securities market for a long time,and some return to China's securities market.In 2017,while the wave of privatization and delisting continued,"beautiful because of all changes," Bailey international holdings limited implemented the privatization and delisting plan.In recent years,the shoe and shoe enterprises such as Belle International,Daphne,Rich Bird,Saturday,Hasan,etc.have gone downhill one after another and are no longer brilliant.Traditional women's brand footwear products are difficult to meet consumer demand,coupled with the upgrading of consumption patterns and the rise of new brands,the traditional footwear industry is even more precarious,and Chinese footwear enterprises are being pushed to the crossroads where to go.Baili International has both the characteristics of manufacturing and retailing,and is also the leader of shoe fulfillment industry,which is more typical and special.Its capital operation trend has attracted much attention.As the first enterprise in shoe fulfillment industry to opt for privatization and delisting,it is worth studying and analyzing the case.Through longitudinal analysis,it is found that at present,the business model of shoe fulfillment industry in China is highly integrated.Many enterprises are not only engaged in the distribution and retail of products,but also fully responsible for the purchase of raw materials,product design and manufacturing.However,from the perspective of the product market,footwear enterprises are faced with changing consumer habits,traditional products can no longer meet consumer needs,and the original channel advantages become burdens.Therefore,to break through the predicament,the footwear industry should not only make efforts from the supply side,but also,more importantly,make breakthroughs in financing,investment,working capital,dividend distribution and other aspects in combination with the characteristics of the business model and changes in the consumer market.The transformation of the footwear industry's financial strategy is imminent.Shoe performance industry is a special industry.Baili has the characteristics of both manufacturing and retail,and it belongs to one of the leading enterprises in the industry.Therefore,it is typical and special and has more research significance.This article analyzes the financial strategy problems before and after the delisting of Baili International from the perspective of financial strategy matrix theory,value chain theory and sustainable development theory.Baili International's privatization delisting is mainly due to the failure of strategic transformation.Firstly,it introduces the situation of Baili International and the whole shoe industry.Then it analyzes the financial strategy problems before the delisting of Baili International from the aspects of financing,investment,working capital and dividend distribution through the financial strategy matrix theory.Then,through the value chain theory and the sustainable development theory,the paper analyzes the favorable conditions and obstacles that Belle International will face in its financial strategic transformation after its privatization and delisting,comprehensively analyzes the financial problems before delisting,the favorable conditions it has and the obstacles it will face,and accordingly puts forward the corresponding defensive and expansionary financial strategic positioning and the corresponding basic strategies for reference.Respectively from the defense of financing strategy: make full use of Internet big data to strengthen financing risk management,the expansion of financing strategy: actively innovate and expand financing channels,the defense of investment strategy: flexibly use different assets for investment,the expansion of investment strategy: reasonably arrange diversified investment,the defense of working capital strategy: strengthen the budget control of working capital to promote steady development,the expansion of working capital strategy: use information technology to improve the efficiency of working capital use,Defense of dividend distribution strategy: formulating a stable dividend distribution policy,safeguarding shareholders' rights and interests,and expanding dividend distribution strategy: reasonably adopting various combination methods of dividend distribution.At the same time,it is hoped to bring enlightenment to enterprises in the same industry.