| In recent years,China’s economy has achieved leapfrog development.In order to meet their corresponding financing needs,large enterprises have begun to enter the capital market.This paper chooses the restructuring case of Nanjing Kangni Mechanical& Electrical Co.,Ltd.in 2017 to carry out the analysis,focusing on the multiple points in the restructuring process,including motivation and mode,and focuses on the analysis and evaluation of the performance of the restructuring and the stripping of non-performing assets.This paper first describes the background of the overall discussion of the topic selection,confirms the analysis of the objective and significance of the relevant content,and carries out an overall study around the motivation,mode,performance and stripping of the relevance theory.The main theories involved in the restructuring performance evaluation include event study method,financial analysis and strategic analysis,etc.In the relevant application process,the analysis program that meets the requirements is selected by combining data sources and analysis requirements.Then simple narrative in the basis of the reorganization,restructuring of the related subjects,this paper introduces the basic situation,the company the original equity distribution information enterprises,restructuring measures corresponding background.With the help of relevant laws and regulations,the definition and the concept of the backdoor listing,comb,and asset restructuring,backdoor listings and class distinctions,comparing the backdoor expression after the reorganization of comprehensive application of the reorganization and the detailed situation.This paper studies the main reasons for the reorganization decision and summarizes and analyzes the major asset reorganization mode based on the existing relevant theoretical basis.And after the reorganization of the performance evaluation,case confirmed the core characteristics of the reorganization,can be reference to case,combining with the analysis of the related problems at the same time,the overall consideration in recent years industry experience of opportunities and challenges.To Kangni rationalization opinions and Suggestions are given for the future development of restructuring behavior as well as other related companies have certain enlightenment function.In combination with the above analysis,the basic conclusion is obtained: from the perspective of external short-term response and internal performance,it is found that the restructuring does not have a positive impact on the future development of the enterprise and does not achieve the expected results.Finally,the conclusion is drawn: before merger and acquisition,enterprises need to conduct reasonable evaluation of the target enterprise.The enterprise reorganization should choose the right reorganization object,the reorganization opportunity and the reorganization way,and the reorganization should accord with the strategic development direction of the enterprise.In the process of making the payment,select the financing method that meets the requirements.After the merger and acquisition,the enterprise should carry out integration in multiple fields to achieve the goal of learning from each other and sharing resources,so as to achieve the ideal synergistic effect.To find the path suitable for the long-term development of enterprises,so that the enterprise value chain to both ends of the extension,improve the added value of products,increase the core competitiveness of enterprises and the brand value of products. |