Research On The Performance Of Unexpectedly Home Backdoor Listed Companies

With the introduction of the policy of "non speculation in housing" in China,the development of the household industry in China has ushered in new development opportunities.However,due to economic development and technological progress,the domestic home furnishing industry is presenting an unprecedented competitive situation.Traditional household enterprises cannot achieve overall transformation due to factors such as lack of funds,human resources,and technology.To alleviate the above difficulties,many traditional household enterprises have chosen to go public.However,due to the difficulty,time-consuming,and high cost of IPO,enterprises cannot quickly raise funds,and even miss the golden period of IPO.Compared with IPO listing,backdoor listing has faster approval time,lower access standards,and higher listing probability,which can help enterprises achieve financing listing earlier,solve the problem of capital shortage,and achieve scale expansion.In this context,unexpectedly home chose to borrow Wuhan Zhongshang to successfully enter the capital market.This article uses a case study to focus on the analysis of the motivation and performance changes for the backdoor listing of Chinese merchants in Wuhan.Firstly,the reasons for backdoor listing are analyzed from the perspectives of backdoor and backdoor issuers.Driven by expanding financing channels,achieving enterprise transformation and upgrading,expanding market influence,reducing listing difficulty,achieving their own business transformation,avoiding the negative consequences of horizontal competition,and responding to the call of the state for mixed reform,the two sides embarked on the path of restructuring.Then,using the event study method,financial indicators method,EVA analysis method,and non-financial indicators method,respectively,from three perspectives of market performance,financial performance,and non-financial performance,the paper analyzes the performance changes of the company after backdoor listing.In terms of market performance,the short-term market showed a significant positive reaction to the backdoor event;In terms of financial performance,except for the years affected by the epidemic,debt repayment,profitability,development ability,and enterprise economic value have all improved in other years,but operating capacity has not improved;In terms of non-financial performance,progress has also been made in terms of market share,corporate strategy,and contributions to society.After summarizing the backdoor listing of the incredibly home,we have the following inspirations:First,we should choose high-quality shell resources;Second,beware of backdoor risks;Third,the backdoor enterprises of both sides play a synergistic effect;Fourth,choose an appropriate listing plan.Finally,targeted suggestions were made for the future operation of the company and the listing of companies in the same industry.