Study On The Opearting Performance Of Longyuandianli Corporation After Spin-off Listing From GuoDian Group

With the continuous improvement of the mixed ownership reform of state-owned enterprises,the spin-off of state-owned enterprises has attracted wide attention.China Railway Construction has split the Kunming Iron and Steel and iron construction equipment and listed in Hong Kong,China Guangdong Nuclear Power Group spin-off listed in the China Guangdong Nuclear Power New Zealand,China can build,COFCO and other state-owned enterprises will also be a subsidiary of the spin-off listing.Some state-owned enterprises in response to national calls,implement the national guidance,choose to subordinate subsidiaries or sub-business sector for spin-off listing.Enterprises can meet the parent company's financing needs through spin-off,to achieve the improvement of incentives,improve the corporate governance structure and other objectives.However,due to the current lack of sound capital market in China,the process of applying for listing on the domestic board is complicated and the approval period is long.Most state-owned enterprises choose to separate the subordinate subsidiaries or sub-business segments in Hong Kong.At present,China's successful spin-off listing of the case is also less,and most of the domestic enterprises is difficult to meet the HKEx to apply for listed companies to develop standards,if companies blindly choose to spin off the listing is easy to encounter a series of obstacles so companies need From the spin-off after the listing of business performance can be improved,the goal of spin-off listing can be achieved and so consider whether the enterprise is really suitable for spin-off listing.This paper uses the method of theoretical analysis,case analysis and index analysis to analyze the performance of Longyuan electric power after spin-off.First of all,by reference to a large number of domestic and foreign companies listed on the spin-off listing,the concept of spin-off listing,model and other theories introduced;and then the introduction of Guodian Group spin-off listing Longyuan power case,the case business background,And so on.The financial index evaluation system is designed,and the financial indicators of Longyuan's power performance are analyzed.The non-Tinancial indicators of Longyuan Electric Power arc analyzed from the aspects of business advantages and scale of enterprise development.The impact of performance;Finally,combined with theoretical knowledge and case analysis conclusions,put forward Guodian Group spin-off listing of the revelation and reco mme ndat io ns.At present,most of the relevant papers are listed in this paper to study the operating performance of the parent company after the spin-off.This paper takes the subsidiary Longyuan Electric Power as the research object,hoping that through the analysis of the business performance after the spin-off of Longyuan To enhance the performance of subsidiaries of the views and recommendations for the hope that the spin-off after the listing of subsidiaries to enhance the performance of other enterprises to provide a viable reference.