Research On The Performance Of Meinian Health's Backdoor Listing

Backdoor listing is an indirect way of listing.Compared with my country's IPO listing,the audit standard is lower and the efficiency is higher.Therefore,it has always attracted the attention of the capital market.Since the implementation of the approval system in my country,the number of successful backdoor listing companies has continued to rise and peaked in 2015.Although the backdoor listing fever continued to decline in 2016-2018 due to the impact of the reorganization of new regulations,my country's backdoor listing has rebounded significantly in 2019.In recent years,thanks to the country's support for the health industry and the improvement of residents' health awareness,the health examination industry has gradually become a "sunrise industry" with broad development prospects.In the competitive landscape of my country's professional health examination market,Meinian Health can stand out and become the industry leader,mainly because it successfully landed in my country's A-share market through backdooring Jiangsu Sanyou,broadening financing channels and quickly seizing market share.Therefore,the Meinian Health backdoor listing process is of great reference for other companies in the industry.This article takes the case of Meinian Health's backdoor listing of Jiangsu Sanyou as the research object,and on the basis of elaborating the specific transaction process of Meinian Health's backdoor listing,based on the short-term market effect and the industry's growth ability,the backdoor listing The performance is analyzed,and its purpose is to judge the success of the backdoor listing through performance evaluation,so as to provide a certain reference and reference for other companies in the industry that intend to backdoor listing.First,the literature research method is used to sort out the relevant literature on the characteristics,motivations and performance of backdoor listing by domestic and foreign scholars.At the same time,the theoretical basis related to backdoor listing is discussed,and the above literature and theory are used as the theoretical support for the case study in this article.Secondly,it introduces the specific transaction process of the backdoor listing,and briefly analyzes the motivation of Meinian Health's backdoor listing from different aspects.Third,based on the relevant stock price data,the event research method was used to study the short-term market performance of the backdoor listing.At the same time,based on the financial data of companies in the industry,the gray correlation analysis method was used to evaluate the growth of the US-based health industry before and after the backdoor listing.Variety.Finally,through the research on the performance of Meinian Health's backdoor listing,this article draws the following conclusions: After the backdoor listing event,the company's abnormal return rate and cumulative abnormal return rate both increased significantly,and the short-term market performance improved significantly,indicating that investors We have good expectations for this backdoor listing event.In addition,according to the calculated grey correlation coefficient,the ranking of Meinian Health in the industry has increased from 46 th before the backdoor listing to 39 th after the backdoor listing.The main reason for the increase is the rapid improvement of Meinian health financing capacity after the backdoor listing,and the effective improvement of the company's operating scale and overall profitability.All in all,the success of Meinian Health's backdoor listing of Jiangsu Sanyou has gradually made it the "leader" in the health checkup industry.In the end,this article puts forward relevant suggestions for companies in the health industry that are going to be listed on the backdoor: Before the backdoor listing,a scientific development strategy should be formulated to clarify the strategic goals of the company.And the accurate timing of the backdoor;after the backdoor is listed,we must pay more attention to the integration of related resources.