Research On The Financial Performance Of Coal Enterprises After The Divestiture Of Assets

Asset divestiture refers to an economic activity in which the assets and liabilities originally not belonging to the enterprise are divested from the existing accounts and sold to other economies to obtain cash or other assets such as securities.Since the reform and openingup in 1978,China’s capital market has been growing steadily.As one of the most commonly used ways of asset restructuring,asset divestiture can improve the quality of assets and management efficiency of enterprises,it can also optimize the allocation of enterprise resources,and its advantages in improving the market value of enterprises have become increasingly prominent.It has become an important development strategy for enterprises in seeking market share.Domestic and foreign scholars mainly focus on the economic theory analysis of asset divestiture,the motivation of asset divestiture and the performance of asset divestiture,but their research is not comprehensive enough and has some limitations.Based on this,this paper use literature research method and case study method,based on the theory of optimizing asset structure,eliminating negative synergy effect and transaction cost,combining the theory of asset divestiture and financial performance,take Datong Coal Industry Company Limited to strip its subordinate Datong Coal Industry International Trade Co.,Ltd.as an example to conduct a case study,through the analysis of financial data and macroeconomic environment of Datong Coal Industry,specifically to analyze the motivation of the stripping of Datong Coal Industry assets,and from the aspects of short-term and long-term solvency,operational capacity and development capacity,in-depth analysis of the performance of stripping.This paper summarizes the experience of asset divestiture in Datong Coal Industry,summarizes the role of asset divestiture in the follow-up development of the coal industry,with a view to putting forward suggestions for rational use of asset divestiture strategy in the future development of the coal industry,guiding the long-term development of coal industry.