Research On The Performance Of Asset Restructuring In Guangzhou Pharmaceutical Corporation

How to improve the comprehensive strength of enterprises and enhance the enterprise the competitive ability through resource reconfiguration under the condition of market economy to make the enterprise obtain the absolute competitive advantage, and realize the long-term development has become an important goal of many listed companies. Through the assets reorganization, can revitalize the stock assets of the enterprise, get to make better use of the assets of the enterprise. In the listed company, assets restructuring has become an important method for enterprises to seek survival and development.Based on asset restructuring-related theory, the reasons and ways of Guangzhou Pharmaceutical Holdings Limited’s asset restructuring are analyzed systematically using case studies and comparative analysis with the Guangzhou Pharmaceutical Holdings Limited’s asset restructuring being the example. On the one hand, analyzing the market performance of asset reorganization by the cumulative excess return. On the other hand, analyzing the financial performance of asset restructuring of Guangzhou pharmaceutical group through the method of financial index evaluation From the two aspects of vertical and horizontal.; In which the longitudinal analysis is the comparison between the financial index of GPHL after asset restructuring and the average level of the industry sector. Through comparative analysis,we found that the asset restructuring activity did improve its market performance, but the financial performance results are not significant, possibly because of the effect of asset restructuring needing long-term consolidation to play out. The assets reorganization is of great significance for the future development of Guangzhou pharmaceutical group, such as reducing the group’s internal competition and associated business problems, achieve economies of scale to reduce the production cost, etc.The asset restructuring provided the same type of other enterprises with reference: First, following the trend of policy, advancing with the times; the second is to investigate the feasibility of the restructuring plan, and promote substantive reorganization; the third is to strengthen the integration management after restructuring.