Research On The Performance Of China Enterprise Merger And Acquisition Of Shanghai Zhongxing

With the continuous improvement of the market economy system,competition among enterprises has become more and more fierce.More and more enterprises have chosen to increase their scale and industry status through mergers and acquisitions.In recent years,the state has tended to encourage mergers and acquisitions in the real estate industry in terms of policies,and M & A in the real estate industry has become more active.The number of M & A transactions has increased from 20 in 2009 to 470 in 2019,and the amount of M & A transactions has increased from the 208 billion yuan in 2009 increased to 4688 billion yuan in 2019.State-owned enterprise reform,as China's current important strategic measure,combined with the background of state-owned enterprise reform,it is particularly important to study the performance of M & A of state-owned enterprises.Therefore,this article selects a case of Shanghai state-owned enterprise reform-China Enterprise merger and acquisition of Shanghai Zhongxing for research.This article first introduces the background,significance and current research status of the topic at home and abroad,and then combs the relevant theories of mergers and acquisitions as a basis for subsequent analysis.In the case analysis part,the case of China Enterprise merger and acquisition of Shanghai Zhongxing was selected as the research object,and combined with China's state-owned enterprise reform and related policies in the real estate industry,the company's own situation and development planning,and the relevant theories of mergers and acquisitions,the motivation for the merger and acquisition of China Enterprise by Shanghai Zhongxing was carried out.Analysis,and then through the event research method,financial analysis method,economic value-added method and market value-added value method respectively to analyze the short-term market response,financial indicators,EVA value and MVA value changes before and after this merger event,and then conduct a comprehensive and comprehensive evaluation of the performance of this M & A event.The research results show that the short-term market response of this M & A event is good.Investors affirmed the attitude of this M & A event.The operating capacity,solvency,profitability and growth capacity of China Enterprise have also improved significantly.The EVA value and MVA value of China Enterprises have significantly improved after M & A.This M & A activity has played a positive role in promoting the performance of China Enterprise.The current overall operating conditions of Chinese companies are in good conditions and are showing positive and good development.Finally,this paper summarizes the research results of the case of the acquisition of Shanghai Zhongxing by China Enterprise,and puts forward some targeted countermeasures and suggestions for the future development of China Enterprise and M & A of state-owned enterprises.