Research On The Mixed Change Factors And Performance Of Yunnan Baiyao’s Introduction Of Strategic Investors

The reform of state-owned enterprises has always been an important part of China’s economic system reform.With the promotion of national policies,more and more state-owned enterprises have begun to enter the ranks of mixed reform.The COVID-19 since 2020 reflects the importance of the pharmaceutical industry.The development of the pharmaceutical industry is related to the national economy and the people’s livelihood.As an established pharmaceutical state-owned enterprise in Yunnan Province,Yunnan Baiyao is worthy of in-depth analysis and research on how to conduct mixed reform,how effective the mixed reform will be,and whether it can improve corporate performance through the introduction of strategic investors.This article takes Yunnan Baiyao as a single case for analysis,with the introduction of two companies,Xinhua Capital and Jiangsu Yuyue,as the starting point to analyze the reasons for the mixed reform of Yunnan Baiyao and the performance changes after the mixed reform.Firstly,this article sorts out relevant literature on the mixed reform of state-owned enterprises and the introduction of strategic investors,expounds relevant concepts and basic theories,and expounds the research methods needed.Secondly,it introduces the basic situation of the pharmaceutical industry,the current situation of mixed reform in the pharmaceutical industry,and the basic situation of Yunnan Baiyao and strategic investors in detail.It analyzes the problems existing before the mixed reform of Yunnan Baiyao,explains the mixed reform process of introducing two strategic investors in detail,explores the reasons for the mixed reform of Yunnan Baiyao,and finally evaluates the performance changes of Yunnan Baiyao in introducing strategic investors.When evaluating financial performance,this article selects financial indicators associated with mixed reform,and uses the EVA comprehensive evaluation method to conduct a detailed evaluation of enterprise financial performance.The evaluation of non-financial performance is mainly carried out from four aspects: market performance,market competitiveness,employee structure,and innovative research and development capabilities of Yunnan Baiyao Group.Through the research on the performance of Yunnan Baiyao before and after the mixed reform,the following conclusions are drawn:(1)The mixed reform of Yunnan Baiyao has improved its financial performance,but the effectiveness of the subsequent mixed reform still needs the continuous attention of the management.(2)The introduction of strategic investors to Yunnan Baiyao has improved its short-term market performance and market competitiveness,but has no significant positive impact on the employee structure,and has a positive impact on innovation and R&D capabilities.Based on the above analysis,this article proposes inspiration from the three dimensions of government,industry,and enterprise,providing experience for state-owned enterprises that want to introduce strategic investors for mixed reform,and striving to avoid possible problems.