Research On The Improvement Of Financial Performance Of XM Enterprise From The Perspective Of Supply Side Reform

Since the reform and opening up,with the release of labor,capital,export and other factors,China’s economy has achieved rapid growth.However,in recent years,great changes have taken place in the domestic and foreign environment,leading to the slow growth of China’s economy.Domestically,China’s economy is increasingly confronted with such acute difficulties as a declining demographic dividend,excess industrial capacity,mismatch between supply and demand,and the middle-income trap.In addition,China’s economy is facing increasing downward pressure from such adverse factors as worsening resource and environmental constraints,accelerating aging of the population,and declining returns on investment.Internationally,the sluggish global demand for foreign trade has led to a decline in the export rate of China’s manufactured products,a lack of product innovation,and a gradual weakening of the cost advantage.China’s economic development has entered the "new normal" period.In November 2015,in order to maintain the momentum of economic growth under the new situation,General Secretary Xi Jinping put forward the policy of promoting the supply-side structural reform.As the industry that takes the lead in the supply side reform,the development status of the coal industry is closely related to the effectiveness of the reform.At the present stage,the measures taken by Chinese coal enterprises in response to the supply-side structural reform,the impact of the implementation of these measures on the financial performance of enterprises and how to effectively solve these problems will be closely related to the effectiveness of the reform.Therefore,this paper takes XM enterprises in China’s coal industry as an example to discuss the above issues by studying their financial performance before and after the supply-side structural reform.In this paper,XM enterprises in the coal industry under the background of supply-side reform are taken as an example to study the financial performance level of enterprises from the perspective of input and output by using DEA model,and then to evaluate the effect of relevant measures implemented by XM enterprises under the background of supply-side reform.First of all,it gives a general introduction to XM enterprises and summarizes the measures taken by XM enterprises since the supply-side reform.Secondly,based on the DEA principle,the input-oriented DEA-BCC model was selected as the financial performance evaluation model of XM enterprise.The financial data of 33 coal listed enterprises in 2019 were taken as the decision-making unit of horizontal financial performance evaluation,and the financial data of XM enterprises from 2008 to 2019 were taken as the decision-making unit of vertical financial performance evaluation.Then,the operation results of the DEA model are analyzed from the perspectives of effectiveness,efficiency,projection and sensitivity.Through comparison,it is found that since the supply-side reform,the measures implemented by XM enterprise have played a certain role in improving their financial performance,but there are still many deficiencies compared with other enterprises in the same industry.Finally,based on the supply side reform under the background of how to enhance the level of financial performance make recommendations,including the initiative transformation and upgrading,solid and effective capacity,measures and cost reduction and more accurate power board etc four Suggestions,hoping to help XM and reform in other enterprises effectively get rid of the problems of the reform,so as to enhance the level of enterprise’s financial performance,Help enterprises achieve better development.