Research On The Performance Of Hongyang Energy Acquising Of Shenyang Coking Coal Based On Strategic Research

In recent years,overcapacity in the coal industry and large fluctuations in coal prices have had a serious impact on other related companies,seriously threatening the health and sustainable development of the economy.Based on this,the state has issued a series of policies,it issued opinions on further promoting the transformation and upgrading of coal enterprises' mergers and acquisitions in 2018,encouraging coal enterprises to transform and upgrade.In this context,the paper explores whether coal companies can find a way out through mergers and acquisitions,and analyze the problems existing in the process of mergers and acquisitions with specific cases,which is of great practical significance.Most of the research stopped at performance,did not evaluate the impact of mergers and acquisitions on all levels of the enterprise from a strategic perspective,and did not explore whether the goals of each stage of the enterprise after the merger were realized.Therefore,based on the strategic perspective,the paper analyzes Hongyang Energy's acquisition of Shenyang coking coal and transforms it into a strategic decision-making process for large-scale coal-fired integrated listed companies,which not only meets the actual situation of the enterprise,but also provides reference for other similar enterprises.The paper first expounds the overview and theoretical analysis of M&A,M&A performance and strategy,and then analyzes the current achievements and problems of the coal industry,and point out the necessity and feasibility of strategic mergers and acquisitions,and analyze the necessity of introducing the strategy into the performance evaluation of coal mining M&A.Then,taking Hongyang Energy's acquisition of Shenyang Coking Coal as an example,SWOT analysis is used to analyze the strategic transformation of Hongyang Energy from four aspects: advantages,disadvantages,opportunities and threats.Then it analyzes the reasons for the company's decision to choose M&A and describes the company's M&A process and describes the company's integration of business strategy,human resources,organizational structure and culture.Finally,the short-term,medium-term,long-term and final goals are tested and concluded: First,the market responded well and the short-term performance was positive.Second,the gambling agreement was basically completed and the medium-term goal was achieved.Third,the company's market competitiveness,internal business and financial indicators were all improved,but the company's growth ability was still lacking;Fourth,although the economic value added is negative,it has improved significantly since the merger and the company's operating conditions have gradually improved.Finally,in response to the problems of Hongyang Energy's acquisition of Shenyang Coking Coal and its development process,combined with the problems that other similar enterprises may encounter in the future,from the three aspects of regulatory authorities,related agencies and enterprises,the paper puts forward strategic suggestions for the future mergers and acquisitions,transformation and upgrading of Hongyang Energy and other coal enterprises.