Study On The Performance Of Backdoor Listing Of Zhonggong Education

In recent years,the number of college graduates in China has increased year after year.In the face of the unoptimistic employment situation,in order to seek a stable job,more and more graduates choose to continue their studies or take the civil service examination,which has brought great development space for China’s vocational education training institutions.Nowadays,however,there are many enterprises in the education and training industry in China,with high product similarity and high competitive pressure.If we want to take the lead and achieve the dual development and promotion of brand and product,financial support is an indispensable link.Therefore,to enter the capital market,complete the listing and get financing has become the only choice for education and training enterprises to achieve transformation and development,improve competitiveness and market share.Because of its short product cycle,no large amount of mortgage assets,urgent listing demand and other industry characteristics,vocational training enterprises can not go through the traditional IPO way,which has long waiting time,complex audit steps and various procedures.Therefore,backdoor listing has become the best choice for educational enterprises to quickly enter the capital market,achieve efficient financing and promote their development.In November 2018,China public education successfully listed yaxia automobile on Shenzhen stock exchange through backdoor listing.As the first successful education and training enterprise listed on A-share market in China,the success of China public education has a good reference for other education enterprises that want to enter the capital market through backdoor listing.Therefore,this paper selects yaxia automobile as the research object and analyzes it.This paper adopts the method of combining case analysis and theory to analyze the successful backdoor of Zhonggong Education Co.,Ltd.from the perspectives of motivation,financial performance,operation and management.Firstly,this paper starts with the relevant literature on the motivation and performance of backdoor listing,and summarizes the relevant literature at home and abroad in chronological order.Secondly,it introduces the basic situation of both sides and the process of backdoor listing,and analyzes the motivation of backdoor listing from multiple perspectives of the internal motivation affected by the enterprise itself and the external motivation affected by the environment.Thirdly,it analyzes the motivation of backdoor listing based on the theory of finance This paper analyzes the case from the horizontal and vertical aspects,including profitability analysis,operation ability analysis,solvency analysis and growth ability analysis,and uses Du Pont analysis method to analyze and summarize the overall financial effect of the company,and analyzes the market reaction before and after listing,and finally studies its brand,product and talent training.Through the above analysis,we can draw the research conclusions and Enlightenment of public education backdoor listing,and provide reference value for other companies in the education industry.