Introduction Of Sha Hua Electronic Strategic Investor Failure Case Analysis

State-owned enterprises play a very important role in the economic development of a country.Because of the special nature of state-owned enterprises themselves-state-owned holding,state-owned assets and strategic decision-making of enterprises,they have many advantages and resources compared with other enterprises.However,with the development of economic market,the disadvantages of state-owned enterprises in governance structure gradually become obvious.It has been revealed that their original advantages have slowly diminished in the process of rapid economic development.Therefore,in order to make state-owned enterprises stand firm in the wave of economic development,China has begun to reform the mixed ownership of state-owned enterprises,enhance the vitality of state-owned enterprises,and bring healthy development impetus to the industry.The forms of mixed ownership reform can be divided into many types,such as the introduction of strategic investors,employee stock ownership plan and so on.People has long inertia that state-owned enterprises after introducing strategic investors,after control shift performance will be improved,but focus on our country's many delisting warning,in the company after their actual control change,their results also did not happen to ascend,this makes a lot of research scholars of our country state-owned enterprise merger in mixed to doubt the efficiency of the market introduction of strategic investors.Based on the case study of the strategic investor huaying technology introduced by xmec,this paper analyzes why and why the state-owned enterprise control right was completely encroachment upon after the introduction of huaying technology by xmec,and the reasons.How huaying technology fully controlled the company through private placement and hollowed out the value of the company through affiliated transactions after it was introduced into xmec.The former Chinese TV giant Xiamen Electronics also carried out the reform of mixed ownership by introducing strategic investor Huaying Technology.It was one of the enterprises that participated in the wave of mixed ownership of state-owned enterprises earlier.We analyze the impact of introducing strategic investors by introducing the impact of Xiamen Huaying Science and Technology.Firstly,this paper expounds the concept of strategic investors and briefly introduces the theoretical basis of this paper.Secondly,this paper makes a detailed introduction and in-depth analysis of the case from three parts: the background of the case company,the motivation of xiamen electronics to introduce strategic investors,and the implementation process of the reform plan.This paper analyzes the influence of introducing strategic investors on xmog's financial performance and how the company's business performance changes after the transfer of control right from four aspects of profitability,operation ability,debt paying ability and growth ability.Analyze how a former TV industry leader was "de-valued" by introducing strategic investors.Through the above analysis,this paper finds that state-owned enterprises may be invaded or transferred when they introduce strategic investors.This paper discusses the reasons for this situation: the private interests of strategic investors,the operational strategy errors of the original major shareholders of state-owned enterprises and the reasons for considering their own private interests.Finally,based on the cause of the failure of xoceco electronics introduced strategic investors,the paper concludes that the influence of the introduction of strategic investors for xoceco electronics,and finally reached a conclusion that some factors about the state-owned enterprises to introduce strategic investors need to pay attention to the enlightenment,and other state-owned enterprises in our country for the future introduction of strategic investors to mixed ownership reform has a certain reference significance and guiding value.