Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
Series Vol. 47 , 01 December 2023
Open
Access | Article
Motivation and Performance of Backdoor Listing: A Case Study of Shunfeng
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Abstract
With the arrival of the new normal of economic development, the growth rate of business volume in the express delivery industry has been gradually slowing down since 2015, while the emergence and development of the e-commerce industry will have an impact on traditional express delivery enterprises. Through the survey method, comparative method and literature method, this paper selects the case of the backdoor listing of SF, and through the analysis of the internal and external motivations of the backdoor listing, the performance analysis using the consolidated financial performance method, as well as the analysis for its listing risks, it can provide reference and reference for the future listing of enterprises. The results of this paper indicate that most of the courier industry chooses to go public by backdoor listing in order to broaden their financing channels, and that backdoor listing can improve corporate performance to a certain extent. In addition, this paper can provide an evaluation method and reference experience for other enterprises to list in shells, and provide reference ideas for potential shell companies whether to give up shell resources. It also provides regulatory suggestions for the formulation of relevant policies in China.
Keywords
backdoor listing, motivation, performance analysis
References
1. Tonghuashun Finance. (2014). 2013 Balance Sheet, Shunfeng Holdings (002352) Money Flow_Stock Quotes_Flush Finance (10jqka.com.cn)
2. Tonghuashun Finance. (2015). Balance Sheet, Shunfeng Holdings (002352) Money Flow_Stock Quotes_Flush Finance (10jqka.com.cn)
3. Tonghuashun Finance. (2016). 2015 Balance Sheet, Shunfeng Holdings (002352) Money Flow_Stock Quotes_Flush Finance (10jqka.com.cn)
4. Juchao.com. (2017). Shunfeng Holdings: 2016 Annual Report. http://www.cninfo.com.cn/new/disclosure/detail?plate=szse&orgId=9900010448&stockCode=002352&announcementId=1203150372&announcementTime=2017-03-13
5. Shenzhen Foresight Industry Research Institute Co., Ltd. (2021). 2010-2020, China Express Industry Business Volume and Growth, 2010-2020 China Express Industry Business Volume and Growth_Logistics Industry Data - Qianzhan Logistics Industry Research Institute (qianzhan.com).
6. Juchao.com. (2018). Shunfeng Holdings: 2017 Annual Report, http://www.cninfo.com.cn//new/disclosure/detail?plate=szse&orgId=9900010448&stockCode=002352&announcementId=1204472912&announcementTime=2018-03-14
7. Juchao.com. (2019). Shunfeng Holdings: 2018 Annual Report. http://www.cninfo.com.cn/new/disclosure/detail?plate=szse&orgId=9900010448&stockCode=002352&announcementId=1205903220&announcementTime=2019-03-16
8. Juchao.com. (2020). Shunfeng Holdings: 2019 Annual Report. http://www.cninfo.com.cn/new/disclosure/detail?plate=szse&orgId=9900010448&stockCode=002352&announcementId=1207395450&announcementTime=2020-03-24
9. Meng Yuting. (2019) Research on the back door listing of S.F. company. Jilin University of Finance and Economics. 10.26979/d.cnki.gccsc.2019.000136.
10. Liu Zhuang. (2021). Research on the Competitive Strategy of Private Express Enterprises in China——Take SF Holdings as an example. Xiangtan University. 10.27426/d.cnki.gxtdu.2021.000586.
Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
- ISBN (Print)
- 978-1-83558-141-4
- ISBN (Online)
- 978-1-83558-142-1
- Published Date
- 01 December 2023
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/47/20230384
- Copyright
- 01 December 2023
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited