Research On The Performance Of YTO Express Backdoor Listing Based On Balanced Scorecard Theory

For many years,China has been ranked as the fastest growing and largest country in the global express business,but the express business in China also has the characteristics of low threshold and large quantity,which means that the competition among the express business has been intensifying,fierce competition has led to the cost of one-piece express is constantly reduced,while various costs are constantly rising,making the profits of express delivery companies in a continuous decline.Therefore,China's express delivery enterprises have been seeking to improve their own strength and speed up their own development.Compared with the IPO,the Reverse takeover has a simpler process and less time to review the IPO.Although China started to strictly restrict the relevant regulations of the Reverse takeover in2016,Reverse takeover still has the obvious advantage of less time.Therefore,Reverse takeover is often used by private express enterprises in China.YTO Express was founded in 2000,in 2015 before its listing,its annual business volume has been the first of the total business volume of private enterprises express,the prospects are very broad.In 2016,in order to broaden the financing channels and meet the demand for funds,Reverse takeover chose to enter the capital market.After the listing,YTO express in all dimensions of the balanced scorecard have shown a good situation,and in the Shun Feng,Shen Tong,Yun Da and other express giants in the competition,but also gradually occupy a dominant position.On the basis of a number of literature and relevant theoretical analysis,this paper first introduces the basic situation of the Reverse takeover,and then explains the overall environment and background of the development of the express industry,this paper introduces the basic operation process of the Reverse takeover,the selection criteria of the shell company,as well as the motivations of the Shell Company and the Shell Company,and analyzes the Reverse takeover incident in depth from the aspects of the motivation and performance.Using the balanced scorecard method andcombining with the strategic objective of the enterprise,this paper puts forward a kind of train of thought,and makes a vertical comparison of the performance of Reverse takeover before and after,and a horizontal comparison with the average level of the industry,by means of simulation scoring,so as to draw a conclusion,this paper provides some references and suggestions on how to use balanced scorecard to evaluate the performance of private express enterprises.The text mainly divides into five major parts: the first part is the introduction part.In this part,the research background,research significance,research content,research methods,as well as supporting the theory of the article and domestic literature review are sorted out.The second part introduces the situation of YTO express and its Reverse takeover.This paper focuses on the background of YTO express company,YTO express Reverse takeover,and the reason why Da Yang genesis was borrowed.In the third part,the author compares the performance of Reverse takeover before and after,using the four dimensions of customer,finance,learning and growth and internal process,then puts forward the research ideas,that is to design an effective performance evaluation system based on the company's strategy,and determine the weight of each dimension through four steps: preparation,construction of the strategic map,design of the balanced scorecard and performance appraisal table,design of the performance management operation system,and implementation of the operation,in order to help the enterprise to carry out the performance evaluation more accurately and effectively,the comprehensive design of the enterprise performance evaluation system is completed and the Reverse takeover performance is reflected objectively.The fourth part provides the following enlightenment: What kind of enterprises prefer Reverse takeover;how to choose Shell Companies;the need for top-down performance evaluation with balanced scorecard;It is necessary to link the performance evaluation with salary,incentive and budget,to determine the weight of each dimension of the balanced scorecard with the company strategy,and to design the balanced scorecard with the balanced scorecard.The fifth part lists three conclusions: When we use the balanced scorecard to measure the performance of the Reverse takeover enterprise,we should consider the enterprise's own situation,andpay attention to some details when we see the overall evaluation;Diversification evaluation is the only way of performance evaluation of listed companies;Performance evaluation should be quantified.