Study On The Key Factors Of Delisted Enterprises’ Re-listing

Since 2009,there has been no precedent for listed companies to return to the a-share market after delisting.Although Chuanyi shares were re-listed on a-shares in 2014,at that time Chuanyi shares had been "sold shell",and the company’s business had changed greatly from before,so it was not re-listed on the basis of restoring sustainable business ability in the real sense.During this period,a number of ST companies actively apply for re-listing,but have not been approved,how to re-list has become a lot of delisted companies are thinking about.Long line became the first and only company to relist after delisting in 2019.As the first company in China to achieve the goal of re-listing by restoring its sustainable operating capacity,NJTC has received great attention from the capital market.Based on this,this thesis selects NJTC oil as the research object,based on existing in bankruptcy reorganization of the enterprise research and related theory,from the perspective of financial NJTC oil from bankruptcy reorganization to remarketing process,sum up experience and enlightenment,not only rich in theory for the study of the bankruptcy restructuring enterprises went back on,but also in practice for other bankruptcy reorganization or seek to provide reference for listed companies.On research methods,this thesis used the literature research and case analysis,first reviewed the investment promotion process of NJTC from private to public again,and introduce successfully listed on the same period SZWT as a comparison,which lead to the merchants south oil listed has the important influence factors,and then based on the SAS financial analysis model,combined with the ratio analysis and trend analysis method,the south oil merchants made in-depth analysis of financial data,shows the specific influence of these factors from the perspective of finance,and in every part of the analysis phase analysis summary is given.Based on the case study of NJTC oil transportation,the conclusion of this thesis is that the recovery of sustainable management ability is a key factor for the relisting of NJTC.On the basis of this,several enlightenments on enterprise management are obtained: first,the enterprises applying for re-listing need to pay attention to non-quantitative indicators;Second,the market operation mode can maintain the vitality of the enterprise;Third,shipping enterprises do not have to deliberately pursue scale.