为什么中国企业出售要提前准备？
中国企业主出售企业时，常低估准备工作的重要性。买方不只看业务增长，也会审查财务质量、税务、合同、员工、股权结构和创始人依赖。
如果卖方材料不完整，交易容易在尽调阶段失去节奏，买方也更容易要求降价或更严苛条款。
卖方流程
典型流程包括估值准备、项目简介（Teaser）、保密信息备忘录（CIM）、买方名单、NDA、管理层会议、意向报价、资料室尽调、股权转让协议（SPA）谈判和交割。
估值重点
买方通常关注正常化EBITDA、收入质量、毛利率、客户集中度、应收账款、营运资金、税务风险和管理层是否可独立运营。
卖方准备清单
卖方应准备财务报表、管理账、税务资料、客户和供应商合同、员工清单、股权文件、知识产权、牌照、诉讼记录和资料室索引。
Lyndon如何协助
Lyndon可协助中国企业主准备估值、买方名单、推介材料、资料室和交易执行。
About the Author
Daniel Bae
Co-founder & CEO, Lyndon Advisory
Daniel is an investment banker with 15+ years of experience in M&A, having advised on deals worth over US$30 billion. His career spans Citi, Moelis, Nomura, and ANZ across London, Hong Kong, and Sydney. He holds a combined Commerce/Law degree from the University of New South Wales. Daniel founded Lyndon Advisory to solve the pain points in M&A, enabling bankers to focus on what matters most — delivering trusted advice to clients.
About Lyndon Advisory
Lyndon Advisory is an M&A advisory firm built for Asia Pacific. We help business owners sell their companies and investors make strategic acquisitions with senior-led execution, disciplined process management, and AI-supported buyer intelligence.
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