Research On The Implementation Effect Of The Whole Industrial Chain Integration Of Muyuan Stock

In recent years,due to environmental protection policies,land,capital,epidemic and other factors,industry access has been gradually improved,resulting in the gradual withdrawal of retail investors.Some retail investors’ market shares have been taken over by large-scale enterprises,and the industry concentration is also gradually increasing.As a result,the competition among pig breeding enterprises is becoming fiercer and fiercer,and more and more enterprises begin to continuously integrate the whole industrial chain to improve their competitiveness.Muyuan Food Co.,Ltd.be founded in 1992.Since its listing in 2014,Muyuan has continuously expanded its production capacity and extended its industrial chain.After years of development,Muyuan has formed a whole industrial chain integrating feed processing,breeding,commercial pig production,slaughtering and processing,and has become the enterprise with the highest market value of the pig breeding sector.Based on the pig breeding business,the company has established feed processing and animal protection and veterinary medicine companies to extend the upstream links,while increasing slaughter capacity to expand the downstream layout,accelerating the integration of the industrial chain.Based on the transaction cost theory,leverage theory,synergistic effect theory and performance evaluation theory,this paper takes Muyuan Stock as the research object,and firstly reviews the connotation of the whole industry chain integration,the whole industry chain of pig breeding,the literature related to financial performance evaluation and the theoretical basis related to the industry chain integration.The background,significance,methods and contents of this paper are explained.Secondly,the basic situation of Muyuan enterprise is described,the external mirror is analyzed,and the whole industrial chain links and integration path of Muyuan are sorted out.Thirdly,the motivation of the whole industry chain integration of Muyuan Stock is analyzed,and the trend analysis and comparative analysis of its financial indicators are carried out.Finally,make a summary and suggestions.Performance analysis finds that the integration of the whole industry chain of Muyuan has its advantages and disadvantages.The advantages are that it can reduce costs,achieve economies of scale,and help the enterprise become the industry leader to occupy the market.The disadvantage is that the initial investment is large,the fixed cost accounts for a high proportion,and there is a high debt repayment risk.In view of the financial performance evaluation of the integration of the pastoral industry chain,the following policy suggestions are putting forward: implement the prudent investment and financing strategy;Improve the relevant diversified product group;Continue to integrate and optimize the industrial chain;Increase investment in research and development to cultivate talents.