The Research On The Asset Reorganization Effect Of Sinosteel Jilin Carbon Co.,Ltd.

Under the market-oriented economic conditions,how to achieve competitive advantages and seek sustainable development via capital accumulation and concentration has become the top strategic goal to many listed enterprises.As an effective tool to adjust the structure of economy and industries,reasonably allocate corporate resources and activate stock assets,asset restructuring can benefit industrial structure adjustment and optimization of the national economic layout,thus playing an important role in development of the world's modern economy.Therefore,to analyze motivation and performance evaluation of asset restructuring of listed enterprises is vital theoretical and practical significance.Sinosteel JilinCarbonCo.,Ltd.affiliated to Sinosteel Corporation is known as the cradle of China's carbon industry,and led China's carbon industry for a long time.However,in recent years,with intensification of industrial competition,its leading role in the industry has been seriously threatened and challenged.The current operation status of Sinosteel JilinCarbonCo.,Ltd.is not optimistic.The declining profitability has failed to provide adequate driving force for its further development.The severe competition from the marketplace has diminished its market share.All this has posed a serious threat to survival and development of the company.Proceeding from the concept of asset restructuring,this paper adopts asset restructuring of Sinosteel JilinCarbonCo.,Ltd.as a case study.Literature review is conducted from the perspective of feasibility of asset restructuring and asset restructuring benefits.Relevant concepts and theories of asset restructuring and integration are summarized.Then,combining history and status of Sinosteel JilinCarbonCo.,Ltd.,the author analyzes causes behind the change of the company from wax to wane,and comes up with the motivation and prerequisite of the company's asset restructuring.Following that,the restructuring plan and its feasibility are examined.Finally,the author puts forward suggestions on development of Jilin Carbon Co.,Ltd.after the restructuring.Though it is relatively easy to reform large-scale steel enterprises,a suitable development path should be found out.The asset restructuring can increase the concentration degree of assets,and lay the foundation for solution of many contradictions in the development process of the steel industry.Meanwhile,therestructuring is a response to the development trend of the international steel industry,which can help China's steel industry improve its international competitiveness.Last but not least,asset restructuring of the steel industry has greatly enhanced its bargaining power with relevant upstream and downstream industries,thus effectively cutting cost and increasing market share.Based on the above analysis and discussion,this paper comes to the following conclusion: through asset restructuring,the target enterprises can improve its corporate value,optimize and integrate its asset structure,strengthen its comprehensive competitiveness,and increase its investment value.All in all,asset restructuring has a far-reaching influence on industrial integration.