Research On The Causes And Countermeasures Of Performance Decline After Yujing Shares Listed On The Board

At the beginning of the establishment of the new third board,welcomed by small and medium-sized enterprises,the number of listed companies and the volume of transactions increased significantly year after year,but in 2018,2019,2020,2021 has shown negative growth for four years in a row.Since the listing of the new third board,many excellent companies have been assisted,the business is thriving,the demand for capital is also growing.New third board market liquidity problem is increasingly prominent,the company only rely on the new third board market financing has been difficult to achieve further development and prosperity,so want to seek to change the board listing.Over the past five years,the number of companies listed on the board has been increasing.In 2020,the number of companies listed on the board exceeded100 for the first time.The 2021 was set up,and the number of companies listed on the Board has surged.A considerable number of companies listed on the board,as a result of access to a rich flow of funds or the smooth launch of investment projects,have promoted a significant increase in economic efficiency.But there are also a small number of board listed did not achieve the expected results,straight decline in performance of enterprises,such as Yujing shares.This paper selects Hunan Yujing Machinery Co.,Ltd.(hereinafter referred to as Yujing Co.,Ltd.)as the research object,collects and combs the research results made by scholars on the company’s board transfer listing,and expounds in detail the industry background,operation and listing process of Yujing Co.,Ltd.based on the enterprise life cycle theory,signal transmission theory and priority financing theory,Then,based on the financial report and online data,by comparing the index data of Yujing Co.,Ltd.with the similar scale listed companies Sijin intelligent forming equipment Co.,Ltd.and Zhejiang heideman Intelligent Equipment Co.,Ltd.,which are the R &D,production and sales of machine tools,we evaluate the performance changes before and after the board transfer,and draw the conclusion of performance decline after the board transfer;Then it analyzes the reasons for the performance decline of Yujing shares after the board transfer from the aspects of raised investment projects,earnings management and government subsidies.Finally,according to the specific problems,it puts forward the corresponding performance optimization measures and institutional suggestions to prevent the performance decline after the company’s board transfer listing,trying to effectively prevent the performance "face change" of listed companies from the source.This paper aims to provide reference for enterprises that want to be listed through the board transfer in the future,provide practical guidance for the long-term operation of general equipment manufacturing enterprises,and hope to provide some reference for enterprises that want to be listed for financing and scale expansion through the board transfer in the future,so as to avoid the "big change" of performance after listing.