Research On Mixed Ownership Reform Path And Financial Performance Of Eastern Air Logistics

In June 2020,the Commission for Deepening Overall Reform of the CPC Central Committee issued the “Three-year Action Plan for State-owned Enterprise Reform(2020-2022)”,which meant the "three-year action plan" for state-owned enterprise reform started formally.And now it is coming to the final stage,that mixed-ownership reform has also entered the mechanism stage from the "mixed" capital stage.In fact,the "mixing" of capital and property rights has always been only the form and means of reform,but the "reform" is the fundamental purpose of mixed-ownership reform,which decides that mixed-ownership reform should be based on the deepening reform of corporate system and focus on promoting the construction of market-oriented operation mechanism.However,the premise of "reform" mechanism is that the appropriate "mixed" capital should be carried out."Reform" should be carried out on the basis of appropriate "mixed" so that we can complete the mixed ownership reform in the real sense.Therefore,this paper selects Eastern Air Logistics,the first landing enterprise in the pilot of mixed ownership reform in the civil aviation field,as the research object.The core issues of the study are: the path of Eastern Air Logistics mixed ownership reform,the mechanism of its impact on financial performance and its impact on financial performance.This article first introduces the reasons for choosing Eastern Air Logistics as the research object,the mixed reasons of Eastern Air Logistics and the mixed transformation process of Eastern Air Logistics.Secondly,according to the logical step-by-step research on financial performance,a variety of mixed reform paths work together on corporate governance,promote business transformation and upgrading,and improve resource allocation efficiency: The first is to analyze the change of path chosen by Eastern Air Logistics reasons,the second is the realization of equity diversification on the basis of how non-state shareholders in the ownership structure,board of directors and board of supervisors in actively participating in corporate governance,the third is how Eastern Air Logistics with the introduction of strategic investors to complementary resources and matching between,so as to realize the traditional logistics business layout optimization and emerging business.Fourth,on the basis of the above analysis,it summarizes the mechanism of the impact of Eastern Air Logistics mixed reform path on financial performance;Finally,according to the mechanism of the impact of the mixed logistics reform path on financial performance,this paper analyzes the impact of the mixed logistics reform path on financial performance of Eastern Air Logistics from four levels of operating income,debt paying ability,profitability and operating capacity.Through analysis,the following conclusions can be drawn:(1)Eastern Air Logistics adopts a variety of mixed reform paths comprehensively.The reason for the selection of mixed reform paths is that they can bring different heterogeneous resources to Eastern Air Logistics,thus generating synergistic effects in different aspects.(2)Eastern Air Logistics ’ mixed ownership reform deepens from form mixing to integration.On the basis of realizing equity diversification and improving corporate governance structure,it integrates resources with non-state-owned shareholders to promote business transformation and upgrading and improve resource allocation efficiency.(3)Eastern Air Logistics mixed ownership reform has a positive impact on financial performance.