Research On The Performance Of ZTE Splitting National Technology

China's capital market has developed rapidly.To achieve long-term survival and development in an increasingly fierce competitive environment,many companies embark on the path of asset restructuring.The split-listing as a way of reorganization of assets has also gradually been valued by corporate managers,but due to the late start of the development of spin-off listing in China,there are still relatively few companies using this method to reorganize assets.Related academic research There is a certain gap with foreign countries.This paper adopts a combination of theoretical research and case studies,and selects ZTE as a research object to split the national technology case.First of all,it systematically introduced the relevant concepts of split-listing,research status at home and abroad,and listed the motives for spin-off listing.After that,it analyzed the performance of mothers and subsidiaries before and after the spin-off from three aspects: financial,non-financial and capital markets.The trend analysis was conducted on the solvency,working ability,profitability,growth,and cash flow of the parent company and its subsidiaries.Non-financial aspects used the balance score card to analyze the performance from the three dimensions of finance,customer operations,and learning and growth.In the capital market,the company's stock price is compared with the industry's stock price trend;finally,corresponding recommendations are made,and the advantages and disadvantages of the spin-off listing are summarized.It is believed that enterprises should regard it as a development opportunity and combine their own development needs.Constantly innovate management mode and improve core product competitiveness.