Research On The Performance Of Xiangshan Shares' Continuous Cross-border Mergers And Acquisition

Under the background of China’s rapid economic development,promoting the high-quality development of manufacturing industry is the core content of the high-quality development of China’s economy,and also an important basis for accelerating the socialist modernization construction.Traditional manufacturing industry as the main body of the real economy,for the high quality of our country economic development plays a vital role,but the traditional manufacturing industry is facing the market competition and innovation pressure,want to meet the market demand,after the era,you need to take the road of transformation and upgrading,and cross-border mergers and acquisitions is an ideal way.Although the risk of cross-border mergers and acquisitions is high,but the continuous cross-border mergers and acquisitions still have the opportunity to win.Xiangshan Stock,the world’s leading and largest household weighing company,was listed on the Shenzhen Stock Exchange in 2017.In 2018,the first cross-border Baosheng automation,but due to the market environment changes and industry development brought by the constant impact,Baosheng automation in research and development production process has not produce corresponding economic benefits,the Xiangshan shares in serious losses in 2019,and in 2021 Baosheng automation bankruptcy liquidation.In 2020,Xiangshan Shares once again through cross-border merger and acquisition,and this time it acquired Junsheng Qunying with 2.04 billion yuan,but at that time,the book of Xiangshan shares was only 180 million yuan,and the net assets were only 784 million yuan.However,the acquisition enabled Xiangshan Shares to realize the coordinated development of the auto parts industry and the weighing instrument manufacturing industry.In the one year after the acquisition,the total revenue reached 4.89 billion yuan,an increase of 401%compared with the same period last year.This paper first introduces the research background and significance of the paper,and sorts out the relevant literature on continuous cross-border merger,crossover merger,merger motivation and merger performance.This paper expounds the definition of related concepts,and the introduction of evaluation methods and related theories.Then,the continuous cross-border mergers and acquisitions of Xiangshan shares are selected as the research object,first exploring the causes of the two cross-border mergers and acquisitions in five years.Next,it found that the consequences of continuous cross-boundary mergers and acquisitions of Xiangshan Stock are quite different,thus analyzing the introduction and effects of the target companies: event analysis method,financial index performance analysis and economic added value method.On this basis,the non-financial performance analysis is conducted from four dimensions: Supplier and customer retention analysis,employee contribution,R & D capability analysis and market impact analysis.Finally,based on the above,the research results,it is concluded that the traditional manufacturing enterprises need to have a full understanding of their own bottlenecks,to reasonably implement the merger and acquisition plan,further promote the integration after the merger and acquisition and pay attention to the core competitiveness of the suggestions,hoping to provide valuable reference for the long-term development of enterprises.