A Case Study On The Performance Of Asset Restructuring Of Shaanxi Coal Industry

The structural problems that emerged in the new normal phase of our country's economy have seriously affected our country's economic development.Too much investment and too little consumption have resulted in more productivity than market demand,which has resulted in overcapacity.The root cause of this structural problem has been that the purchasing power of society cannot keep up with the capacity of production and supply,and the growth rate of residents' income cannot keep up with the growth of production capacity.Our country's coal industry also has structural problems such as severe overcapacity.Coal demand has fallen,prices have fallen,coal industry concentration has been not high,competition has been fierce,so coal companies have suffered continuous losses.Therefore,many coal companies have been well aware of the urgent need to rescue themselves to solve their development difficulties.Asset restructuring is a corporate activity in which companies re-allocate and combine asset property rights to achieve optimal allocation of resources,which can improve companies' performance to a certain extent.Therefore,coal companies' asset restructuring to eliminate internal inefficient asset is an effective way to solve the development dilemma,and can achieve the effect of improving business operations.Therefore,this paper selects Shaanxi Coal Industry,a listed enterprise in the coal industry,as the subject of this case study,and conducts a case study on the performance of Shaanxi Coal Industry's asset restructuring.This case study can help enrich the case studies of coal companies and enrich their adoption and the case studies of asset restructuring through the sale of inefficient assets.At the same time,the majority of enterprises can also learn some lessons from it which has certain practical significance.The research method of this paper mainly adopts literature research method,case research method and event research method.In the introduction part,this paper sorts out the research status of domestic and foreign asset restructuring and introduces related theories,so as to lay a certain theory for subsequent analysis basis.This paper takes Shaanxi Coal Industry as the research object and introduces its two asset restructurings in 2015 and 2016.In the case analysis part,first analyzes the motivations of Shaanxi Coal Industry's asset restructuring,and then focuses on the performance analysis,mainly from two aspects of financial performance,non-financial performance,and finally,it analyzes the mechanism of Shaanxi Coal Industry's asset restructuring to improve performance.This paper analyzes and researches the performance of Shaanxi Coal Industry's asset restructuring and finds that the performance has been improved after Shaanxi Coal Industry's asset restructuring.In terms of financial performance,there is a more obvious cost reduction effect;more sufficient funds;increased debt solvency and reduced financial risks;increased operational capabilities and improved asset utilization efficiency;increased growth capabilities;increased profitability.In terms of non-financial performance,the enterprise 's production capacity has been optimized;investment in research and development has been increased;market performance has improved.In summary,Shaanxi Coal Industry's asset restructuring has significantly improved performance and the enterprise has achieved better development.In addition,this paper draws four points of enlightenment from case studies,hoping that the majority of enterprises can get some enlightenment from them so as to achieve better development.