上市公司分拆子公司上市动因及经济后果研究  

Research on the Motivation and Economic Consequences of Subsidiaries Going Public in the Spin Off of Listed Companies

作　　者：袁玉婷 YUAN Yuting(Hubei University of Technology,430070,Wuhan,Hubei,China)

机构地区：[1]湖北工业大学,湖北武汉430070

出　　处：《特区经济》2025年第4期81-85,共5页Special Zone Economy

摘　　要：自2019年我国资本市场正式确立A股境内分拆上市制度以来,众多A股上市公司积极响应,选择将符合条件的子公司分拆上市,但对于分拆上市的动因及产生的经济后果方面目前研究尚少。因此,以厦门钨业为例,本研究深入剖析其在分拆上市过程中,选择科创板作为上市地点的原因,并基于母公司厦门钨业及子公司厦钨新能双方视角,对分拆上市的动因进行了全面剖析。此外,还探讨了分拆上市后的经济效应,以及对母子公司主业发展方面产生的影响,发现分拆上市这一举措不仅显著缓解了母子公司双方的资金压力,还促进了双方更加专注于主营业务的发展,为双方的未来长期的稳健发展奠定了坚实基础。Since the establishment of the A-share domestic spin off listing system in China's capital market in 2019,many A-share listed companies have actively responded by choosing to spin off eligible subsidiaries for listing.However,there is currently little research on the motives and economic consequences of spin off listing.Therefore,taking Xiamen Tungsten Industry as an example,this paper deeply analyzes the reasons for choosing the Science and Technology Innovation Board as the listing location during its spin off listing process,and comprehensively analyzes the motives for the spin off listing based on the perspectives of both the parent company Xiamen Tungsten Industry and its subsidiary Xiamen Tungsten New Energy.In addition,the economic effects of the spin off listing and its impact on the development of the main business of the parent and subsidiary companies were explored.It was found that the spin off listing not only significantly allevi⁃ated the financial pressure on both the parent and subsidiary companies,but also promoted both parties to fo⁃cus more on the development of their main business,laying a solid foundation for the long-term stable devel⁃opment of both parties in the future.

关 键 词：分拆上市 科创板 厦门钨业 厦钨新能 上市公司 

分 类 号：F832.51[经济管理—金融学]