Research On The Influence Of The Spin Off And Listing Of DANA GENE On The Financial Performance Of The Company

Since the 1960 s,many companies have successfully adopted diversified expansion strategies and achieved resource aggregation and rapid growth.However,diversified expansion brings competitive advantages to the company,but also causes problems such as overstaffed organization and low management efficiency.In the 1980 s,foreign capital markets began to think rationally about diversified expansion,resulting in a new way of asset restructuring,namely spin off and listing,and put it into use.However,due to the development of China's capital market at that time,there was still a certain gap between China's capital market and foreign capital market,so the spin off listing appeared later in China.It was not until 2000 that Tongrentang successfully split up Tongrentang technology to be listed in Hong Kong that it really appeared in China.Subsequently,in 2010,the CSRC announced the regulations allowing listed companies to split and list on the gem.However,due to the strict supervision of the gem and the expansion of the new three board,the main channels for the split and listing were still concentrated on the main board of Hong Kong and the new three board in China at that time.By 2019,the development of spin off listing in China's capital market has been close to 20 years.The CSRC once again solicited opinions on the domestic spin off listing,coupled with the emergence of science and technology innovation board,listed companies once again saw the hope of spin off listing,and many listed companies expressed their intention to spin off listingIn this paper,the case of DANA GENE,a successful pharmaceutical company,is selected for research.Its basic purpose is to provide experience for other pharmaceutical companies that have expressed the intention of spin off listing under the trend of further development of spin off listing.Through the use of case analysis and event analysis,this paper analyzes the motivation and compliance of DANA GENE spin off listing,and analyzes the financial performance before and after DANA GENE spin off listing by combining financial index analysis and factor analysis,so as to draw the conclusion that "DANA GENE spin off listing has a positive impact on the overall financial performance of the company".In addition,through the research on Daan gene spin off and listing,the paper puts forward suggestions for other pharmaceutical companies expressing the intention of spin off and listing,including "spin off and listing should have a good industry environment,select high-quality assets in the development period,continuously related to the development of subsidiaries,and give priority to the spin off and listing of subsidiaries that aredifferent from their own business".