Research On Value Creation Of Technical Capital Of Yunnan Baiyao Group

The pharmaceutical industry has always been a pillar industry for China's economic growth.According to the relevant national development plan,the 13th five-year plan will maintain a medium-high growth rate.Rising household income,rising consumption levels,an aging and urbanizing population,the development of China's health strategy and further improvement of the medical insurance system will all increase the demand for medicine in China.With the introduction of the "made in China 2025" innovation policy and the formulation of the "innovation-driven”industrial policy,the requirements for the domestic pharmaceutical sector have become more stringent.In 2019.the adjustment of the medical insurance directory and the reform of the evaluation mechanism will gradually tilt the medical insurance payment towards innovative drugs.In the future,the whole pharmaceutical industry will embrace new opportunities and face new risks.Technology researh and development capability directly determines the strength of pharmaceutical companies.However,at the same time.the control of medical insurance cost and the stricter regulation of the industry have brought severe challenges to pharmaceutical enterprises,which will continuously promote the strategic transformation of pharmaceutical enterprises and in the research and development technology innovation direction enterprise's competitive advantage.If an enterprise wants to gain competitiveness and find prospects in today's society,it must be transformed into technology-driven production,that is,technical capital is the key to create value for the enterprise.Yunnan baiyao group is a famous enterprise with a history of more than]00 years.In its long history.the company has made remarkable achievements thanks to the accumulation and continuous research and development of technical capital.Therefore,taking yunnan baiyao group as an example.this paper elaborates the research background.purpose,significance and theoretical analysis basis,and then sorts out and analyzes its operation and financial data.On the theoretical basis of factor capital theory,technology capital theory,technology innovation theory and value creation theory,literature review method is adopted to summarize the research results on the value creation of enterprise technology capital at home and abroad,and relevant theoretical framework is extracted.After defining the concepts related to technology capital and value creation,the company's technology capital composition and value are calculated.Enterprise value creation is divided into financial value and market value.And the impact of technical capital on enterprise profitability,development capacity.Eva and other relevant indicators is studied in detail.Qualitative discovery of the company's technical capital problems,and from the enlightenment,and finally put forward countermeasures.At last,we can draw a conclusion that enterprise technology capital can create value and make contributions to the future development of enterprises.