Research On Motivation And Financial Performance Of CNPC Engineering Restructuring Based On The Mixed Ownership Reform

Since the Third Plenary Session of the Eighteenth Central Committee,mixed ownership reform has become a breakthrough point in the reform of state-owned enterprises in China.Especially in the key monopoly areas of China,we have promoted pilot explorations,through the introduction of non-state-owned capital,to break the form of industry monopoly and find new economic growth points for enterprises.However,the whole process of SOE mixed ownership reform is long,and M & A or reorganization is an important means and effective way for SOE mixed ownership reform,which is conducive to promoting the strategic adjustment of SOE mixed ownership reform and enhancing the core competitiveness and innovation driving force of enterprises To promote the re-integration of internal resources of enterprises,give play to the synergy of enterprises,and greatly accelerate the completion of reforms.In recent years,with the fluctuation of the market economy,China's economic growth has shown a downward trend.State-owned enterprises located upstream of the industry have exposed a series of problems such as overcapacity,inefficient use of assets,and lack of core competitiveness.The need for reform is imminent.How to maximize the reform of the state-owned enterprises in the middle and lower reaches of the monopoly field through the reorganization model in the context of mixed reform is a research question of great application significance.This article selects the middle and downstream enterprises in the petroleum industry in the key mixed reform field-China National Petroleum Engineering Corporation(formerly: Tianli High-tech),taking the company's mixed reform in the context of restructuring and listing reform as a case study,and detailed analysis of the company in the context of mixed reform Motivation of project reorganization,and use financial indicators and nonfinancial indicators to measure the effect of reorganization and comprehensive data evaluation.The research work of this paper includes: from the external and internal dimensions,to deeply analyze the motives for the reform of the hybrid system of CNPC engineering restructuring.Secondly,the event analysis method is used to analyze the short-term effects of changes in the stock price of the secondary market after reorganization,and the traditional financial indicators and the method of constructing a strategic matrix system are used to evaluate the performance of corporate restructuring reform;at the same time,it combines market share,core competitiveness and Analysis of non-financial indicators such as investment in R & D expenses,and quantitative analysis of the performance brought to the enterprise by reforming the restructuring model.Finally,through the analysis and summary of the performance statistics,some suggestions about the problems that still exist in the reform process and the company's future performance improvement are proposed.