Research On Economic Consequences Of The Carving-out On SSE Star Market

To promote the healthy development of capital market,the key lies in system innovation.As a fertile soil to support the construction of Shanghai’s international financial center and science and technology innovation center and to continuously improve the basic system of capital market,under the guidance of the system innovation of "registration system",the openness,inclusiveness and transparency of the Sci-Tech Innovation Board have been constantly enhanced,and the asset restructuring method of splitting and listing has also been released.In this paper,the first case of the split listing of SSE Star Market,Micro Port Endovascular Med Tech,is taken as the research object.On the basis of sorting out the relative policies,background of its spin-off,combining with the characteristics of the board,the economic consequences of the split listing are systematically analyzed.It is concluded that after the spin-off,the subsidiaries have achieved positive effects in terms of financing capability,brand value enhancement,and equity incentive effect,so that the financial performance has been significantly improved.However,the improvement effect of the parent company’s capital situation and asset management efficiency is not good.On the whole,however,the independence of the parent-subsidiary operation has been strengthened,which is conducive to the long-term strategic layout,and they both gained positive stock price effect during the announcement period,with overall market value of the parent-subsidiary company has been greatly increased.At the end of the article,the author summarizes the reference of the case enterprise’s split-up and listing,hoping to provide some reference for similar enterprises and highlight the many benefits brought by SSE Star Market to scientific innovation enterprises.Finally,the author reviews and sorts out the full text,and puts forward some thoughts on the enterprises that have the need of splitting and listing,so as to provide some references for improving the efficient integration and operation of scientific and technological enterprises and scientific and SSE Star Market.