| In the background of the sudden COVID-19 outbreak in 2020,all walks of life have been greatly affected.However,as a traditional element of China,traditional Chinese medicine has won the attention of both home and abroad again,such as Lianhua Qingwen capsules.The most direct manifestation of this situation in the capital market is the continuous rise of the traditional Chinese medicine sector.In addition,the 14 th Five-Year Plan issued by the state in July 2020 also made it clear that major projects for the revitalization and development of traditional Chinese medicine should be implemented to promote the combination of traditional Chinese medicine and modern information technology.Under the guidance of this outline,favorable measures for traditional Chinese medicine enterprises have been introduced in many places since May 2021.However,with the increasingly strong impact of the information age,the consumption pattern of consumers and the consumption environment of the market are also gradually changing.However,enterprises in the traditional Chinese medicine industry are still traditional in terms of operation and management,and their innovation ability and profitability are at a relatively low level.In addition,the previously advantaged consumption concept layout is gradually falling apart.Therefore,enterprises urgently need to transform.Digital transformation can re-empower the TCM industry,optimize the operation and management of enterprises,and make the TCM industry glow with new brand value.On the basis of consulting relevant literature and materials,this paper selected Dong-e-ejiao as the case study object,introduced the digital transformation strategy of Dong-e-Ejiao in detail,and divided it into four aspects,namely brand digitalization,marketing digitalization,commodity digitalization and manufacturing digitalization,and tried to fully display the digitalization of Dong-e-ejiao as far as possible.In terms of the transformation performance analysis of Dong-e-Ejiao,three evaluation methods,namely event study method,financial index method and entropy weight method,were used to analyze the implementation effect and performance of the digital transformation of Dong-eEjiao.Based on the above analysis,relevant conclusions can be drawn: First,on the day when Dong-e-Ejiao announced its digital sales strategy of "operating a city without leaving home" on its official website,its stock price stabilized its previous decline,and its abnormal returns surged in the following days.Second,Dong ’E Ejiao has improved its solvency,profitability,operation and development ability to some extent through digital transformation.Thirdly,according to the scoring situation of entropy weight method,the results also show that the digital transformation of Dong-e-Ejiao makes the comprehensive financial performance of Dong-e-Ejiao increase year by year.Therefore,the study in this paper not only enriched the theoretical research results of the impact of digital transformation on the performance of traditional Chinese medicine enterprises,but also revealed the path of the impact of digital transformation on enterprise performance,making the factors affecting enterprise performance more abundant.It also provided reference and reference for other enterprises to carry out digital transformation through the experience and lessons of Dong-e-Ejiao’s transformation. |
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