Research On The Financial Risk Of Keheng’s Merger And Acquisition Of Haoneng Technology

In order to promote the high-quality development of my country’s economy and society,and fully implement the relevant policies and regulations of supply-side structural reform,many companies currently frequently adopt mergers and acquisitions to expand resources in order to enhance their industry position and market competitive advantage.However,with the financial risks brought about by mergers and acquisitions,it is worthy to be highly vigilant about the potential safety hazards of enterprises.Mergers and acquisitions make enterprises bear greater financial risk pressure.Only by timely identification,scientific evaluation,and effective prevention,can mergers and acquisitions achieve good results.Therefore,in-depth study of M&A cases is of great significance,and it can serve as a guide and reference for corporate M&A in a targeted manner.This paper selects the acquisition of Haoneng Technology by Keheng Co.,Ltd.as an example.Based on relevant theoretical knowledge such as synergy and information asymmetry,it briefly describes the industry-related background,the basic situation of the parties to the merger,the motivation of the merger,the process of mergers,and the situation of mergers and acquisitions.Focus on the analysis of the identification and evaluation of the financial risks of the merger,and put forward suggestions on the control of financial risks of the merger,and conduct research and analysis according to the established logical thinking.At the same time,select the main indicators of Keheng Co.,Ltd.in the production and operation process for data analysis,select 15 financial indicators such as asset return rate,asset-liability ratio,total asset turnover rate,and operating income growth rate,and use gray correlation analysis method and indicator analysis method Analyze the financial risks of Keheng’s acquisition of Haoneng Technology.Through research,it is found that Keheng shares have different degrees of financial risks in M&A activities,and the following conclusions are drawn:(1)Pre-merger valuation is general,there is a certain valuation risk,there are risks such as information asymmetry and asset valuation appreciation.Makes the premium high.(2)The financing method is not reasonable enough,and the payment method is unscientific,which increases the financing cost of the enterprise and the risk of equity dilution.(3)The risk value of financial integration risk is the highest,and the financial risk increases,and the company’s operating capacity and debt solvency have declined,which will increase the company’s future operating burden.Based on this,targeted control suggestions for the financial risks arising from the acquisition of Haoneng Technology by Keheng Co.,Ltd.are put forward,mainly from the rational evaluation of the value of the target company,optimization of financing payment methods,integration of risk prevention strategies,and strengthening of merger and acquisition supervision and control.