Research On The Motivation And Effect Of NEEQ Enterprises’ Board Transfer

?With the rapid development and gradual maturity of China’s capital market,the NEEQ takes a place in the construction of China’s multi-level capital market system.Due to the lack of liquidity on the NEEQ,strict access conditions for investors,large gap between listed companies,and dislocation development of various sectors,high-quality enterprises have sought opportunities for listing on the NEEQ,and the number of companies listed on the NEEQ has gradually decreased.As we all know,the IPO listing standards are strict and the road is difficult.At present,the policies of the technology innovation board and the GEM have been issued,and the Beijing Stock Exchange has been established.However,the main board of the NEEQ still needs an IPO.Therefore,it is of great significance to analyze the successful cases of the main board for the enterprises to be transferred.?This paper takes Zhonggu Logistics Corporation,a company on the main board of Shanghai Stock Exchange delisted from the NEEQ,as an example,analyzes the motivation and effect of its board transferring,summarizes the experience of its board transfer,and puts forward suggestions for the enterprises to be transferred on the NEEQ and the NEEQ.First of all,it introduces the research background and significance of the NEEQ,and collates the domestic and foreign literatures related to the NEEQ with the methods of documentary metrology and documentary research,and analyzes the listing of Zhonggu Logistics on the NEEQ with the methods of event research and case analysis,and summarizes the NEEQ enterprises on the NEEQ.Secondly,based on the successful case of the listing of Zhonggu Logistics,combined with external factors such as financing capacity,market recognition,listing standards,and internal factors such as strategic adjustment,popularity,and financing channels,this paper analyzes the specific reasons for the listing of Zhonggu Logistics,and makes a comparative analysis of the long-term and short-term market effects,valuation effects,liquidity changes,financing effects,and EVA financial performance before and after the listing of Zhonggu Logistics.The analysis results show that the positive effect of the long-term market of Zhonggu Logistics is reflected in the improvement of stock liquidity,the enhancement of financing strength,and the increase of EVA financial performance,which indicates that the transfer board has played a positive role in the development of Zhonggu Logistics.Finally,based on the above analysis,this paper puts forward some suggestions for the enterprises to be listed on the stock market according to their own nature,arrange funds reasonably after financing,and enhance their core competitiveness;Suggestions on enhancing the liquidity of the NEEQ,strengthening the construction and reform of the NEEQ system,and strengthening the information disclosure of enterprises listed on the NEEQ.