Financial Performance Evaluation Of China Unicom’s Mixed Ownership Reform Based On Combination Weight-TOPSIS

Since the Third Plenary Session of the Eleventh Central Committee of the Communist Party of China,the economy has developed rapidly,and the state-owned enterprises have started to carry out mixed ownership reform.The research and evaluation of the reform performance can not only grasp the situation of the reform of state-owned enterprises,but also provide guidance and suggestions for the subsequent reform and development of stateowned enterprises.China Unicom,as the first batch of pilot units,has attracted wide attention from the society.As one of the three giants in China’s communication service industry,China Unicom has a huge scale of users and is also the direction sign of China’s state-owned companies.Therefore,it is of great significance to evaluate and analyze the financial performance of its mixed ownership reform for the reform and development of state-owned enterprises in the future.First of all,this paper analyzes the relevent factors affecting financial performance evaluation,taking six dimensions of profitability,debt risk,operating growth,operating and asset quality,cash flow and shareholder profit as indicators to evaluate financial performance,and enumerating 23 factors for the subsequent establishment of financial evaluation system.And I collected the relevant financial data of China Unicom from 2014 to 2021.Then,through the comparative analysis of the relationship between each indicator and the importance of each other,respectively using the analytic hierarchy process and entropy weight method to determine the subjective weight and objective weight of 23 factor indicators,and in accordance with the 1:1 ratio of the calculated subjective weight and objective weight combined to get the final combined weight.Finally,the combination weight is applied to TOPSIS analysis method,and the financial performance ranking of the eight years before and after the mixed-ownership reform of China Unicom is obtained by combining the financial data from 2014 to 2021.Based on the results generated by the combination Weighting-TOPSIS method,it makes a detailed analysis of the profitability,debt risk,operating growth,operating and asset quality,cash flow and shareholder profit,and analyzes the annual comprehensive results,so as to find the problems existing in the performance evaluation of China Unicom.Then,based on the performance evaluation of China Unicom’s mixed reform,this paper puts forward suggestions on the operation and management of China Unicom.It can not only provide reference for the operation and management of the mixed ownership reform of other enterprises,but also provide methods for the performance evaluation of the mixed ownership reform,and provide theoretical basis and suggestions for the future operation of state-owned enterprises.