Research On The Influence On The Performance Of S-Enjoy Service Group Co. Limited’s Spin-Off Listing

Spin off listing is a common mode of asset restructuring.The discovery of spin-off listing helps to deal with the current situation of fierce competition among enterprises.Spin-off listing has been expertly used internationally while the practice of spin-off listing in China is relatively few.However,with the maturity of capital operation,the domestic application of spin-off listing is getting wider.China’s real estate industry has separated from the period of rapid growth.Many real estate enterprises listed their property management,business management,cultural tourism and other sectors to seek the independent development of relevant companies.S-Enjoy Service Group Co.Limited is a typical example of real estate group’s spin off of property assets to crossborder listing.This paper will focus on on the impact of the company’s spin-off listing on various performance,provide reference for other companies planning to split the property management and listing,and promote the healthy development of relevant industries.This paper will comprehensively use the methods of literature research and case study to consult the relevant materials and summarize the decision-making intention of spinoff listing.Then the paper will start from the motivation to analyze the performance from multiple dimensions such as market reaction,financial performance and nonfinancial performance after the company’s spin-off listing.The paper will evaluate whether the relevant performance meets the motivation of spin-off listing.Through the research,this paper finds that the spin-off listing can help the company obtain premium valuation,meet the financing needs of the company and encourage the employees to aid the company’s development.Spin-off listing meets most of the real estate group’s demands.However,S-Enjoy Service Group Co.Limited’s case can also reflect the drawbacks after spin-off listing that the source of revenue still depends heavily on the group’s affiliated companies and the company does not pay attention to the development of external expansion ability.This is contrary to the original intention of improving the company’s independent operation ability.This problem may cause the company’s weak future performance growth and restrained development.The company has taken corresponding measures to deal with this problem.The research value of this paper is: This paper makes quantitative and non-quantitative analyses on all aspects of the performance based on the motivation of the spin-off listing of real estate companies.According to the performance,this paper concluded that most of the motivation of the spin-off listing have reached the expected objectives.For the unrealized objectives,this paper also analyzes the reasons and tracks the improvement made by the company.The analysis process can more clearly build the logical relationship between the performance and motivation of spin-off listing,and provide suggestions to real estate companies which are planning to spin off listing according to the analysis and demonstration of this paper.