Research On Performance Evaluation Of Listed Companies In China's Brewing Industry

From June 2015 to May 2018,the Shanghai Composite Index fell from 5178 points to 3070 points,down 40.71%,while the wine industry index rose from 23463 points to 30269 points,up 29%,especially in the 2017 wine industry sector stocks.Has been sought after by the market.The performance of the brewing industry is due to the improvement of the overall profitability of the enterprise or the structural changes of the industry to promote the high growth of the industry performance.It is due to the industry's technological innovation leading to breakthrough growth in the industry or the expansion of the scale of the company.This paper selects 27 listed companies in the brewing industry as the research object.Based on the input and output of these 27 listed companies from 2013 to 2017,the DEA method is used to evaluate the performance of listed companies in the brewing industry.Combining the Malmquist index method to dynamically decompose the performance of listed companies in the brewing industry and its sub-sectors is conducive to a more scientific performance evaluation of listed companies in the brewing industry.After empirical analysis,the average technical efficiency,pure technical efficiency,and scale technical efficiency of the selected 27 sample companies during the period of 2013-2017 were 0.819?0.875?and 0.937?respectively.The industry mainly controlled costs and expanded scale to meet the requirements.The state's support for leading enterprises has improved corporate performance by increasing the scale effect,but the overall brewing listed companies have been in a state of decline due to insufficient technological innovation.In the subdivided wine industry,the highest average industrial efficiency is in the beer industry,and the beer industry has always been at a relatively stable level.The comprehensive technical efficiency of the red and yellow medicinal liquor enterprises relative to liquor and beer enterprises is low and unstable.Finally,based on the analysis,this paper puts forward suggestions for listed companies in the brewing industry,in order to improve and enhance technological innovation capability,improve scale economy,optimize corporate capital structure,clarify corporate strategic layout,enhance brand building and sales management,and focus on market development.Rationalization of sales channels.