Comparative Research On Comprehensive Performance Evaluation System Of Listed Companies Of Industry 4.0

Since the reform and opening up,the industry as a pillar industry of China,which has ushered in many opportunities for transition,is gradually from the original extensive low value-added processing model to innovation driven,green,low-carbon,intelligent manufacturing,service-oriented,domestic demand led and consumer driven transformation.As the main line of the transformation model,has become a new wave of industrial enterprises to open up new horizons of their own development an important way.With the introduction of Germany's "Industry 4.0" concept,China has also followed the international pace and launched the "made in China 2025" in response.In the process of deepening the concept of "Industry 4.0",the listed companies in the "Industry 4.0" concept section have also received more and more attention from all walks of life.Apart from the concept stock and its halo,more attention has been paid to the fact that these enterprises,which involve the concept of "industrial 4",compared with the traditional industrial listed companies,what are their comprehensive operations?This paper through the use of "Industry 4.0" performance data of listed companies,respectively by the DuPont financial analysis method and factor analysis method to construct the evaluation of comprehensive performance evaluation system.And then the system models established by cluster analysis to make comparison of difference between the two methods and analyze the causes of these differences,which finally strive to provide people determine to choose a more comprehensive performance effective,practical,fair and objective evaluation system.In the empirical analysis,this paper first gives a description of the present situation of the sample enterprises,then using the DuPont financial analysis included 5 main indicators and factor analysis included 11 indicators to establish the evaluation systems separately and compare the performance changes of the sample enterprises in one same evaluation system.After that,using cluster analysis to make further compared of two kinds of evaluation system based on the result of the cluster analysis.After the empirical analysis and comparison,this paper draws the following conclusions:1.DuPont analysis system with complete theory,and the advantages of index stability,but lacks of long-term business performance appraisal ability,lacks of consideration of cash flow and tax factors,the index system can be further improved.2.Factor analysis has the ability to evaluate the performance of enterprises in many directions.It can dig and induce the characteristics of enterprises,but the extraction and nomenclature of common factors need to be further optimized.3.The Industry 4.0 in China is still in the early stage,but the industrial enterprises have become divided.The performance of traditional heavy industrial enterprises is poor,profitability and development eapacity is weak,but he development of emerging industrial enterprises which focus on innovation is improved year by year.Overall,however,industrial development has yet to break away from the traditional industrial development model.4.In the defining industrial process and evaluating production intelligence,individuation,innovation and sustainable development,it is difficult to quantify these characteristics and form a systematic index system.After that,this paper puts forward some suggestions for the establishment of evaluation system:The improvement of DuPont analysis can start from putting the indexes such as cash flow ratio and EBIT,and the method of factor analysis can be improved by using factor analysis model L.To speed up domestic industrial transformation and upgrading,the paper also puts forward some countermeasures and suggestions for improvement:At the micro level,enterprises should be encouraged to increase their input in scientific and technological innovation,break through the cage of enterprise ideology,and dare to make a breakthrough and dare to innovate.At the macro level,the government should build a platform to provide manpower and material resources to help enterprises break through technical bottlenecks and improve the network environment,further more to unify the evaluation standards and system formulation.