腾达公司上市前期方案研究

发布时间：2018-01-15 16:10

本文关键词：腾达公司上市前期方案研究　出处：《中南大学》2013年硕士论文　论文类型：学位论文

【摘要】：在中国内地出台了一系列对房地产市场的调控措施之后,内地房地产民营企业的境内融资受阻,境内房地产开发企业纷纷把融资目光转向境外,腾达公司作为一家处于高速发展时期且经营状况良好的内地民营房地产开发企业,急需大量的外部资金作为发展的支持,故同样将目光转向了境外资本市场。本文以腾达公司为研究对象,结合腾达公司的实际情况、运用上市目的地选择、不同目的地上市对上市公司的影响理论对其进行分析,确定了腾达公司最优的上市目的地和上市模式为香港IPO,又运用上市时机选择理论对腾达公司上市时机的选择进行分析,认为腾达公司需要自身处于高速发展阶段、拥有较高土地储备、成长性良好且拥有相对清晰和明确商业模式和市场定位的时候选择交易活跃的市场时机上市,会获得较高的市场估值。最后运用于行业内样本公司和可比公司的对比分析,确定了腾达公司成功发行上市所必须改进的障碍和发行前一年必须要达到的关键目标：合同销售金额要达到100亿元人民币以上、净利润至少超过10亿元人民币,年均增长率超过60%,同时土地储备保持合理增长。本文的研究方法和结论不仅可以作为腾达公司上市选择的指导,还可为有意上市融资的中国内地民营房地产开发企业提供参考。
[Abstract]:Following a series of measures to regulate the real estate market in mainland China, the domestic financing of private real estate enterprises in mainland China has been blocked, and domestic real estate development enterprises have turned their attention to financing overseas. As a private real estate development enterprise in the period of high speed development and good management, Tengda Company is in urgent need of a large amount of external funds to support its development, so it has also turned its attention to the overseas capital market. This article takes Tengda Company as the research object, combines the actual situation of Tengda Company, uses the listed destination choice, the different destination listing to the listed company's influence theory to carry on the analysis to it. The optimal destination and mode of listing of Tengda Company are determined as Hong Kong IPO, and the choice of listing opportunity of Tengda Company is analyzed by using the theory of timing of listing. The author thinks that Tengda needs to be in the high development stage of its own, has a high land reserve, good growth and has relatively clear and clear business model and market positioning when the choice of active trading market time to be listed. High market valuation will be obtained. Finally, the comparative analysis of sample companies and comparable companies in the industry will be applied. The obstacles to the successful listing of Tengda Company and the key goal to be achieved one year before the issuance are determined: the amount of contract sales should reach more than 10 billion yuan. Net profit of at least 1 billion yuan, an annual growth rate of more than 60 percent, while the land reserve to maintain a reasonable growth. The research methods and conclusions of this paper can not only be used as the guidance of listing choice of Tengda Company, but also can provide reference for private real estate development enterprises in mainland China that are interested in listing and financing.
【学位授予单位】：中南大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F299.233.4

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