News Report on Visiting Practice Tutors and Conducting Survey in China Aerospace Science and Industry Corporation
发布时间:2016-02-04 浏览次数:

In the afternoon of Jan. 18, 2016, Prof. Wang xuerong and Prof. Chen yanjiao of Nanjing Audit University ( hereinafter referred to as NAU), with their students, paid a visit to China Aerospace Science and Industry Corporation ( hereinafter referred to as CASIC). Chief Financial Officer, Yan Bo, gave a very deep introduction of overseas mergers and acquisitions.

In the beginning of the meeting, Mr. Yan said that CASIC got very rich experience in overseas M&A in that the first and second overseas M&A of Aerospace industry of China were operated and implemented by CASIC. He also highly praised Wang Zhenzhen, a postgraduate student from NAU, who did good job during the internship period.

Mr. Yan gave an analysis on the differences between domestic and overseas M&A as well as the core of overseas M&A. He said that domestic M&A was featured with more-easily-controlled process, more-easily-realized cooperation, asset assessment, closer culture and more convenient management, while overseas M&A may meet such difficulties as more examination and approval procedures, more uncertainty, more troubles in cooperation, the culture of professional manager, more influence of trade union, problems of staff dispatch. To deal with the above problems, following issues should be taken into consideration, they are strategic coordination and Capacity complementation, economic feasibility and corporate valuation, cultural fusion and management docking as well as agency organization and independent judgment.

Later, Mr. Yan focused on the process of overseas M&A by enplaning the real cases of CASIC and pointed out the matters needing attention. Later, he introduced the responsibilities of both sides of M&A and the difficulties in overseas M&A.

In the meeting, Prof. Wang and Chen also gave some suggestions on auditing work of overseas M&A, and gained the recognition of Mr. Yan. From the communication, it was believed that state-owned enterprises had sense of social responsibility and played a very important part of the economic development of China.