Research On The Motivation And Performance Of Spin-off And Listing Of Medical Device Enterprises

In recent years,China’s support for medical device enterprises has been continuously strengthened,and relevant medical device industry plans and policies have been introduced,medical devices have been included in the development priorities,medical devices have been given priority review and approval,medical devices have been supported for clinical promotion and use,and the high-quality development of the medical device industry has been promoted.At the same time,with the continuous improvement of China’s spin-off and listing regulations,the number of spin-off and listed companies has gradually increased since 2019,and the spin-off and listing status of the domestic medical device industry has been unprecedentedly high.Therefore,it is of certain academic value to study why medical device companies choose to spin off and list,what location they choose for listing,and what economic consequences will be caused by spin-off and listing.This paper reviews the literatures related to the meaning,motivation and performance of spin-off and listing,and analyzes the characteristics of the medical device industry,the market development status of the medical device industry and the current spin-off and listing status of the medical device industry.Next,the case research method is adopted to deeply study the listing cases of Micro Port spin-off Medbot.As of December 31,2022,Micro Port has spun off five subsidiaries to go public.Micro Port is also known as a listed company that can generate listed companies.Therefore,Micro Port has a certain representative position in the field of spin-off and listing.Medbot can still be sought after by capital in the case of zero income,and the listed market value exceeds 40 billion Hong Kong dollars,and the case has research value.By analyzing the motivation of the spin-off and listing of Medbot and analyzing the impact of spin-off and listing on the stock price and performance of parent and subsidiary companies,this paper provides certain reference significance for medical device enterprises to choose spin-off and listing in the future.In this paper,case analysis,literature research and event research are used in the research process.The theoretical achievements of domestic and foreign spin-off and listing are summarized,and then the characteristics of the medical device industry and the spin-off and listing of the medical device industry are analyzed.Next,we introduce the case of Medbot.Analyze the motivation of Micro Port’s spinoff and listing and the advantages of spin-off and listing in Hong Kong stocks,as well as the performance after spin-off and listing.Finally,the cases are summarized and suggestions are made for the spin-off and listing of the medical device industry.The main conclusions of this paper are: the spin-off and listing enabled the subsidiary Medbot to obtain a large amount of financing in the short term,and the listing was reasonably valued;Focus on the main business,promote the commercialization process of products,and develop in the direction of its own strategy;As far as the listing location is concerned,the spin-off and listing of Hong Kong stocks is fast,the threshold is low,and the preferential policies are targeted for biomedical enterprises.The main conclusions of this paper are: the spin-off and listing enabled the subsidiary Medbot to obtain a large amount of financing in the short term,and the listing was reasonably valued;As far as the listing location is concerned,the spinoff and listing of Hong Kong stocks is fast,the threshold is low,and the preferential policies are targeted for biomedical enterprises.Through research and analysis,it is found that the spin-off of Medbot has a certain effect on the stock price of parents and subsidiaries in the short term,and the spin-off and listing promote the solvency and profitability of parents and subsidiaries,but has little effect on the improvement of operating capabilities.The spin-off and listing will promote the market competitiveness,R&D capabilities,accelerate business development and improve the corporate governance structure of Medbot.