A Case Analysis Of Introducing Strategic Investors Into Shede Spirits

In 2015,the State Council issued a series of policies to promote the deepening of mixed ownership reform.Encourage state-owned enterprises to introduce non-state-owned capital,and encourage state-owned capital to participate in non-state-owned enterprises.The introduction of strategic investors has become an important way of mixed reform,which defines the important role of strategic investors in mixed reform.Encouraged by the policy,state-owned enterprises have chosen to introduce strategic investors for mixed reform.State owned enterprises can obtain development funds,improve corporate governance,and absorb excellent management experience and experience ideas from the process of introducing strategic investors,so as to improve the operation status of state-owned enterprises,improve the operation efficiency of enterprises and inject new vitality into the development of state-owned enterprises.Taking Shede Spirits as an example,this thesis studies the motivation and performance of introducing strategic investors.Shede Spirits is a local state-owned spirits enterprise.In the process of its development,there have been some problems,such as backward marketing system,inefficient management mode,and solidified mechanism and system,which make the operation efficiency of the enterprise low.Shede Spirits got out of the dilemma by introducing strategic investors.Strategic investor Tianyang Group has optimized the operation and management,marketing strategy and incentive mechanism of Shede Spirits,and effectively improved the business situation of the enterprise.Therefore,this thesis selects Shede Spirits to introduce strategic investor Tianyang Group as the research object.In order to provide experience and reference for other enterprises to introduce strategic investors.This thesis is divided into six parts.Starting from the research background and significance,the first part combs the motivation and economic consequences of introducing strategic investors by domestic and foreign scholars.And gives the research ideas and methods of the article.The second part mainly introduces the concept and characteristics of strategic investors,the motivation for enterprises to introduce strategic investors,and the performance evaluation methods for enterprises to introduce strategic investors,and takes the strategic alliance theory,synergy theory and resource dependence theory as the theoretical basis.The third part introduces the basic situation of Spirits industry,Shede Spirits and Tianyang Group,Then it introduces the process of introducing the strategic investors to Tianyang Group.The fourth part analyzes the motivation of Shede Spirits to introduce strategic investors,including improving enterprise management ability,improving corporate governance mechanism,expanding enterprise sales channels,improving the competitiveness of Spirits industry and responding to the call of state-owned enterprise reform.The fifth part analyzes the market reaction and financial performance of the introduction of strategic investment by Shede Spirits.After Tianyang Group took over,the profitability and growth ability of Shede Spirits have been significantly improved,and the solvency and growth ability have remained stable,which has effectively promoted the performance growth of Shede Spirits.Then it analyzes the reasons,including the improvement of incentive mechanism and the improvement of employees’ enthusiasm;Upgrade the marketing system and improve the profitability of enterprises;Strengthen brand building,enhance the competitiveness of enterprises,accelerate the national layout,and expand the market share.The sixth part is the research conclusion and enlightenment.On the basis of the above,this thesis draws the research conclusions:(1)the introduction of strategic investors in Shede Spirits improves the long-term performance;(2)The introduction of strategic investors in Shede Spirits has improved the level of operation and management;(3)The introduction of strategic investors in Shede Spirits has improved the competitiveness of the industry.Some enlightenments are obtained from the analysis:(1)enterprises should choose strategic investors conducive to their own development;(2)Enterprises should pay attention to the resource integration with strategic investors;(3)Enterprises need to strengthen the supervision of strategic investors.