The Old And New Growth Driver Transformation Under Continuous M&A Of Enterprises

General Secretary Xi Jinping clearly pointed out that,China cannot really become strong unless the old and new growth driver can be smoothly transformed.This shows that it is of vital important to China’s economic development.And the enterprise,it is the old and new growth driver transformation mainly depends on.For China’s traditional auto parts enterprises,the market prospect is not optimistic due to the downturn of the whole vehicle market and the technological advantages of foreign strong enterprises.With the help of the development of the Internet and the upsurge of cultural prosperity,Internet games,a new industry with dual attributes,are continuously developing and growing,which has attracted the attention of traditional enterprises.However,due to the high concentration of the Internet game market and high barriers to entry such as technology,it is difficult for traditional auto parts companies to rely entirely on their own strength to develop in this new growth driver industry in a short period of time.So at this time,what kind of conduct will enterprises take to develop new growth driver industries?And what effect will its bring?According to SCP paradigm,this paper analyzes the influence mechanism of structure,the development mechanism of conduct,and the creation mechanism of market performance.Further,in order to explore the continuous M&A of enterprises and the old and new growth driver transformation from a micro perspective,this paper selects a typical case of continuous M&A in sjhuatong for targeted research.Facing the development dilemma of auto parts,sjhuatong began to explore new momentum of development.After analyzing the old and new growth driver market structure,this paper separately analyzes the M&A in sjhuatong and the continuous M&A developed.Then,probes into the specific influencing factors and the performance brought about by them.The study found that faced with the difference between the old and new growth driver structures,enterprises will consider acquiring new growth driver and developing new industries through continuous M&A when choosing conversion methods.Continuous M&A can help enterprises to further develop new growth driver industries and transform their own old and new growth driver by acquiring advanced technological experience,new business,brand effect,scale effect and new market needed for development.According to the difference structures of auto parts and Internet games market,sjhuatong has chosen to enter new industries through continuous M&A on the basis of retaining its existing business and directly gain new growth driver.On this basis,sjhuatong continue to obtain necessary resources and shift the focus of development to this point.This has not only developed it develop a new growth driver industry,making it become the first share of A-share online games,but also promoted the upgrading of the old growth driver and created excellent financial performance for it.The significance of this study lies in:in theory,the current research on continuous M&A is far from rich and detailed on ordinary M&A.At the same time,there is even less research on the combination of continuous M&A of enterprises and the old and new growth driver transformation.Through the study of the case of sjhuatong,this paper can slightly enrich the relevant research.In practice,this paper analyzes in detail the old and new growth driver transformation effects of continuous M&A,which can provide some re ference fo r relevant enterprises.