国际经济与贸易学院知识库

在改革开放的背景下，中国企业开始勇敢地尝试海外市场，进行走出去的初步探索。随着改革的深入和国际市场的开放，中国企业的海外投资规模迅速增长，民营企业也开始积极参与海外投资。2013年，习近平总书记首次提出建设“一带一路”伟大倡议，这一政策推动了更多中国企业积极参与国际市场竞争，进一步加快了中国企业走出去的步伐。二十大报告中更是为民营经济的高质量发展指明了方向。近些年来，民营经济蓬勃发展，中国民营企业在国内外市场的地位不断提升，甚至到了影响国民经济发展的程度。但随着国内市场逐渐饱和，企业开始面临着更加激烈的竞争，如何实现战略调整、转型升级是民营企业面临的首要问题。而海外并购则是解决这一问题的重要方式。

蓝帆医疗作为我国医疗健康防护手套行业中的“领头羊”，是民营企业中的佼佼者，更因其对柏盛国际的成功并购，创下了A股历史上最大的医疗器械并购记录。鉴于此，本文以跨国并购协同效应的相关理论为基础，研究蓝帆医疗并购柏盛国际的动因、过程、整合路径，再根据蓝帆医疗所公布的财务报表，利用案例研究法、事件研究法以及财务指标分析法，评估此次并购在资本市场上的被接受程度；分析此次并购对蓝帆医疗的影响，深入剖析蓝帆医疗并购柏盛国际的协同效应。通过这一研究，希望能够为其他民营企业在跨国并购领域提出相应的对策建议。

根据本文所研究的案例，总结出以下几点对民营企业进行海外并购的建议：首先企业要把握政策优势，部署并购战略；其次为了财务安全，企业应借助第三方专业机构，合理估计目标企业价值；融资方式的选择上，应根据自身条件多渠道融资，降低风险；最后，企业应十分重视双方资源的整合，促进企业协同发展。

In the context of reform and opening up, Chinese companies have begun to bravely try overseas markets and conduct preliminary explorations to go out.With the deepening of reform and the opening of the international market, the scale of overseas investment in Chinese companies has grown rapidly, and private enterprises have also begun to actively participate in overseas investment.In 2013, General Secretary Xi Jinping proposed to build a great initiative to build the “Belt and Road”. This policy promoted more Chinese companies to actively participate in the international market competition and further accelerated the pace of Chinese companies going out.Among the twenty reports, the direction of the high-quality development of the private economy was even more important.In recent years, with the booming of the private economy, the status of Chinese private enterprises in domestic and foreign markets has continued to increase, and it has even affected the development of the national economy.However, as the domestic market is gradually saturated, enterprises have begun to face more intense competition. How to achieve strategic adjustment and transformation and upgrading is the primary problem facing private enterprises. Overseas mergers and acquisitions are an important way to solve this problem.

As the "leader" in my country's medical and health protection glove industry, Blue Sail is the leader in private enterprises. Because of its successful acquisition of Biosensors International, it set a record of mergers and acquisitions in the history of A -share history.In view of this, this article is based on the relevant theory of multinational M & A associated effects, and studies the dynamic, processes, and integration paths of Blue Sail mergers and acquisitions, and then based on the financial statements published by Blue Sail, use case research laws and event research laws. As well as financial indicators analysis, evaluate the acceptance of the mergers and acquisitions in the capital market; analyze the impact of the merger on Blue Sail, and analyze the synergy effect of Blue Sail M & A.Through this study, I hope to put forward corresponding suggestions for other private enterprises in the field of multinational M & A.

According to the cases studied in this article, the following points are summarized for suggestions for overseas mergers and acquisitions for private enterprises: First of all, enterprises must grasp the policy advantages and deploy mergers and acquisitions strategies;Secondly, for financial security, enterprises should use third-party professional institutions to reasonably estimate the value of the target corporate;In terms of financing methods, we should financing according to its own conditions to reduce risks;Finally, enterprises should attach great importance to the integration of the resources of both parties and promote the coordinated development of the enterprise.