Research On The Financial Problems Of The Failure Of IPO Application In The Pharmaceutical Ndustry Under The Audit System

The pharmaceutical industry is an emerging industry supported by the state,which is related to the construction of the national strategy of "healthy China" proposed by General Secretary Xi and the deepening of the reform of the medical and health system.In the process of its development and expansion,it is urgent to solve the common financing problems with the help of the strength of the capital market.At present,the IPO passing rate of pharmaceutical enterprises is not high,which is mainly due to many financial problems of pharmaceutical enterprises.Therefore,it is of great theoretical and practical significance to analyze the financial reasons of the failure of IPO in pharmaceutical industry.This paper focuses on the financial issues involved in the failure of IPO of pharmaceutical enterprises under the audit system.The first chapter is the introduction,which summarizes the research background and significance,research status,research methods,research framework and innovation of this paper;the second chapter focuses on the relevant theories of IPO failure under the audit system,including financial risk theory,signal theory and investor protection theory,as well as the conditions and process of IPO in China under the audit system;the second chapter introduces the relevant theories of IPO failure under the audit system The third chapter focuses on the analysis of the current situation of the failure of the IPO of pharmaceutical enterprises in the last three years,and summarizes the financial reasons for the failure of the IPO of pharmaceutical enterprises;the fourth chapter analyzes the case of Xiangbei Wellman Pharmaceutical Co.,Ltd.with the combination of the IPO and the prospectus materials,and analyzes the reasons for its rejection from the perspective of financial problems,including six specific problems: revenue recognition The fifth chapter is the research conclusion and Countermeasures of the failure of IPO in pharmaceutical industry.In this paper,we find that whether the IPO of pharmaceutical enterprises is involved in a large proportion of financial issues,among which the most common financial issues are the fluctuation of inventory balance,stock age analysis,the adequacy of inventory falling price reserves,the normalization of revenue recognition,the rationality of gross interest rate fluctuation,and the matching of period cost and revenue.