Research On The Influence Of Overall Listing On Financial Performance Of Enterprises

In the early stage of China's capital market,due to the uneven advantages and disadvantages of the enterprises at that time,the CSRC set higher standards and conditions for the listing of enterprises,which made most of the enterprises with financing amount choose to be listed separately in the financial market.Most of the enterprises could not meet the requirements of the capital market at that time due to the limitations of their own assets,market norms,profitability and other relevant financial indicators Because of the high threshold of enterprises,most of them choose to divest their high-quality assets and list them separately.With the continuous development of China's economy,more and more disadvantages have been brought to enterprises through the separation and listing to raise funds from the capital market,such as too complicated ownership structure,too scattered industrial chain,no integrity,related transactions with the parent company and peer competition between Group subsidiaries.Midea,which is listed first,only includes air-conditioning business,not small household appliances business.Therefore,due to the background of air-conditioning business listing,Midea's internal resource allocation will naturally focus on air-conditioning business.With the gradual improvement and optimization of China's capital market system,Midea Group took the lead in listing Midea electrical appliances,which gradually reflected its shortcomings and disadvantages.This paper takes Midea Group's share exchange,absorption and merger of its first listed subsidiary Midea electric without IPO to achieve the overall listing as an example,and makes a brief introduction to the relevant research results of the overall listing at home and abroad and a review of relevant theoretical research.Then,the basic situation of Midea Group is briefly introduced.Through the further analysis of the motivation of Midea Group's plan to choose the stock exchange and merger of listed subsidiaries to achieve the overall listing,the policy factors,industry background and the advantages and disadvantages of multiple plans are considered when Midea Group chooses the overall listing plan,and the market before and after the overall listing is analyzed Field reaction and financial performance are compared and the positive and negative performance of its financial performance is analyzed.At the same time,the financial risks faced by Midea Group when it is listed as a whole are analyzed.Finally,suggestions and opinions are put forward from the case of Midea Group's listing as a whole.