Research On The Backdoor Listing Performance Of Yunda Express Based On EVA And BSC

In recent years,the state has issued a number of policies to support the development of the express industry,which is a policy dividend for the express industry,and thus drives the rapid development of express enterprises.The rapid development of express industry has also driven the economic growth of our country and alleviated the employment problem.However,the development of China’s logistics industry has also caused some problems,such as fierce competition in the industry,homogenization of operation,further reduction of enterprise profits,and difficulty for major companies to meet their development needs only by relying on their own funds.Therefore,in order to have a place in the fierce market and highlight competitive advantages,all express companies choose to go public.There are usually two ways to go public,one is IPO,the other is backdoor.Compared with IPO,backdoor listing has the advantages of simple approval procedures and shorter time.In view of this,many companies that want to be listed prefer backdoor listing,including Yunda express.This paper takes Yunda express as the research object.Firstly,it analyzes the reasons for its listing,the listing process and the market environment at that time,analyzes the performance of Yunda group before and after backdoor,and makes an empirical analysis on the market performance of Yunda express by using the event research method.The second is to use economic value added(EVA)for analysis,and then the Balanced Scorecard(BSC)for calculation and analysis.It has both short-term market performance and long-term performance analysis,and involves financial and non-financial.It is a comprehensive performance evaluation method to organically combine the long-term and short-term goals of the enterprise,which can improve the credibility.This is very meaningful for the following conclusions.Through the research,we can find the promotion space of the company,so as to provide a reference for other enterprises.The study also concluded that after Yunda group completed the backdoor listing,both short-term performance and long-term performance showed an upward trend,and the enterprise value has also been significantly improved.This adds more materials for studying backdoor listing,provides reference for follow-up research,provides more experience for other enterprises planning to be listed,further promotes the development of China’s logistics industry,and correspondingly improves the country’s economic strength.