Capital Operation And Financial Performance Evaluation Of Conch Group Under The Mixed Ownership Reform

Mixed ownership reform of state-owned enterprises refers to the implementation of mixed ownership economy in current state-owned enterprises.The main purpose of the mixed ownership reform of enterprises is to stimulate the vitality of enterprises and improve their competitiveness.The mixed reform of state-owned enterprises has introduced various kinds of capital such as collective capital,non-public capital and foreign capital.The foundation of the mixed reform is to adhere to the market economy,realize the diversification of enterprise property rights and mutual restriction of equity.Through the mixed ownership reform,enterprises will further improve their internal governance,improve their operation mechanism,ensure the status of state-owned enterprises as market players,stimulate their vitality and enhance their competitiveness.However,many enterprises in the process of mixed ownership reform,mostly just a formality,did not improve the financial performance of the enterprise,did not achieve the expected goal.Conch Group is one of the earliest state-owned enterprises in China to carry out mixed ownership reform.Under the background of mixed ownership reform,the capital operation of this state-owned enterprise also brings good financial performance to the enterprise.So,how does Conch Group carry out mixed ownership reform and capital operation in the end? What kind of financial performance has Conch Group achieved after the mixed reform?In view of the above problems,this paper adopts the case study method and selects Conch Group as the case study object.As a state-owned enterprise,Conch Group has successfully completed the mixed ownership reform and improved its financial performance through capital operation.Literature analysis is also adopted in this paper.By reading relevant literature at home and abroad,this paper sorts out the motivation of mixed ownership reform,the impact of mixed ownership reform on financial performance of enterprises,and the impact of capital operation on financial performance,so as to clarify the research direction.Secondly,this thesis research questions related theoretical basis,from the concept,characteristics and modes of capital operation of state-owned enterprises were introduced from the aspects such as capital operation,from the concept,form and method of performance evaluation of state-owned enterprises were introduced from the aspects such as performance evaluation,and finally from the mixed ownership reform course and mixed ownership reform of policy impact on enterprise performance evaluation of two aspects to analyze the specific background.On this basis,the introduction of the Conch Group,summarize the background and organizational structure of the Conch Group,from the Conch Group reform industry background,process and the status after the reform and other aspects of the Conch Group reform process,and introduces the Conch Group capital operation process.Finally,through the construction of financial performance evaluation index system,the Conch Group before and after the reform of the financial performance of comparative analysis,to explore the mixed ownership reform and capital operation process on the impact of the financial performance of Conch Group,and a comprehensive analysis of the financial performance of Conch Group.It is found that the mixed ownership reform of Conch Group has a positive impact on the financial performance of the enterprise.Through the mixed ownership reform,the distribution of control rights of the enterprise is changed,thus the ownership structure of the enterprise is changed,and a good power distribution,checks and balances and incentive management system is formed,thus affecting the overall financial performance of the enterprise.Through the capital operation means of increasing the shares of Jidong Cement and subscribing to the additional shares issued by Qingsong Jianhua,Conch Group has made the scale of assets of the enterprise expand continuously,improved the financial performance of Conch Group,enhanced the market competitiveness of the enterprise,and made it occupy a dominant position in the same industry.Wall analysis method was used to analyze the overall financial performance of Conch Group after the reform,and the practicability and effectiveness of the financial performance evaluation method were verified.Finally,the following suggestions are put forward for enterprises to achieve good financial performance in the process of mixed reform.First,enterprises should continue to promote mixed ownership reform to enhance their competitiveness.Second,the enterprise should cultivate the core competitiveness and strengthen the capital operation ability.Third,enterprises should improve their financial performance as the goal of mixed reform.