| China’s economic development is getting more and more blocky,the people’s quality of life is getting better and better,in this context,the health awareness of the masses is grad ually strengthening,medical care has become a topic that people pay more and more attenti on to,the medical care market has thus obtained huge business opportunities,at the same ti me the competition is becoming more and more fierce,how to stand out from the fierce co mpetition has become an urgent problem for pharmaceutical companies to solve.In view o f the current industry situation in China,endogenous growth is far from being able to supp ort enterprises to stand in the market,for the pharmaceutical industry,the industry has extr emely high technical requirements for enterprises,and the upgrading of technology is not e asy,there are high requirements for technical personnel,and there is also a great demand fo r research and development costs,driven by a variety of factors,more and more enterprises try to carry out epitaxial mergers and acquisitions activities to inject vitality into enterprise s.Continuous mergers and acquisitions can quickly realize technological updates,improve enterprise competitiveness,and expand the scale of enterprises,but whether they can play a role in improving corporate performance remains to be discussed.Has the value of the en terprise been enhanced after continuous mergers and acquisitions,and can the resources of enterprises produce synergies after continuous mergers and acquisitions? Therefore,it is ne cessary to conduct a scientific analysis of the performance of enterprises after continuous mergers and acquisitions.It is appropriate to take Huarunsanjiu as the research object,Huarunsanjiu is a leading enterprise in the industry,and from the frequency and quantity of continuous mergers and acquisitions,it is also suitable as a typical case of continuous mergers and acquisitions.Tak ing Huarunsanjiu as an example,it was analyzed from three levels: financial indicators,ec onomic added value and synergy effects,and compared with the main competitors and ind ustry averages,and analyzed from both vertical and horizontal levels.Finally,through the c ase study,the following conclusions were drawn: in terms of motivation,Huarunsanjiu lau nched a series of continuous M&A activities in order to obtain synergies,optimize the com pany’s industrial chain layout,and master core resources.In the process of continuous mer gers and acquisitions,Huarunsanjiu insists on promoting and guiding enterprises to vigoro usly develop innovation with strategy.After the completion of continuous mergers and acq uisitions,the company promotes the coordinated development of various sectors and streng thens the promotion of various products.In terms of performance results,from the perspect ive of the company’s operating performance,profitability is affected to a certain extent,gro wth ability is not stable,and there is certain pressure on solvency.In terms of operational c apacity,the problem of Huarunsanjiu is intensifying,and the possibility of bad debts is incr easing.The economic added value and net profit performance are considerable.In addition,Huarunsanjiu has also achieved good synergy in terms of business coordination,managem ent coordination,and financial coordination.The main contribution of the paper is to conduct case studies on the strategic layout of continuous mergers and acquisitions,the motivation for mergers and acquisitions,and perf ormance analysis of Huarunsanjiu.It aims to put forward more practical opinions for simil ar enterprises to improve the efficiency of continuous mergers and acquisitions... |
