A Study On The Financial Performance Of ZH Company’s Private Placement

The financing problem of listed companies is a major task that our capital market faces in the long term.Because listed companies need a lot of money to support their production and operation activities.Private placement is favored by listed companies because of its obvious advantages,low issue threshold,simple implementation procedure,flexible subscription method and low issue cost,and it has become one of the most important means of refinancing for listed companies in a short time.However,the time of private placement is relatively short compared with foreign countries,and due to the characteristics of Chinese capital market,the forms of private placement are various,and new conditions and problems are emerging.Under this background,the impact of private placement on corporate performance,whether to improve the financial performance of enterprises,whether to obtain expected returns for investors,has become a concern of more and more investors.Therefore,the study on the financial performance of ZH company’s private placement can not only enrich the cases of private placement in the photovoltaic industry,but also further explore the impact of private placement on corporate financial performance,which has certain theoretical and practical significance.This paper mainly adopts the form of case study,based on the relevant theoretical background,selects ZH company as the research object of the case of private placement,and discusses the changes of the financial performance brought by the two private placement of ZH.First of all,through combing and reviewing the literature,understand the domestic and foreign research on private placement.Secondly,it gives the definition of related concepts and summarizes the relevant theoretical basis and performance evaluation methods of private placement.Then,combined with the case analysis of ZH company,through the background introduction,motivation analysis and private placement process analysis of ZH company,as well as the equity changes after private placement,it is clear why ZH company conducts private placement,and how ZH company conducts private placement and the equity changes after private placement.Thirdly,this paper analyzes its short-term performance from event analysis and uses financial indicators to analyze its long-term financial performance.Finally,it uses economic added value to study its comprehensive operating performance.Finally,based on the above research,this paper concluded that private placement in its short-term market performance and long-term financial performance have improved the role,and based on the above research concluded that ZH companies should reasonably select private placement projects,improve information disclosure and other suggestions.