Analysis On The Financial Performance Of Yunnan Baiyao Mixed Ownership Reform

At this stage,the key industries of mixed ownership reform in China is continuing to deepen.This paper selects appropriate indicators from the "Enterprise Performance Evaluation Rules" and "Enterprise Performance Evaluation Standard Values".Through the study of enterprise performance before and after the mixed ownership reform,the individual indicators are compared and comprehensively evaluated.In addition,the equity is analyzed.The relationship between structure,governance structure and financial performance has opened up new ideas for the performance research of mixed ownership reform.Based on the theme of mixed ownership reform in state-owned enterprises,this paper first reviews the relevant literature on mixed ownership reform and financial performance.In the process of reading the literature,most of them are theoretical research,and few documents reflect the performance improvement brought by the reform of mixed ownership.This paper takes the reform of the mixed ownership system of Yunnan Baiyao Holding,which is expected to be a new sample of reform,as an example.Since the financial performance of the controlling shareholder's mixed reform is directly reflected in the listed company,the financial performance changes before and after the mixed ownership reform are analyzed.And the introduction of qualitative indicators,through the form of case analysis to study whether the performance is theoretically improved.The research results of the article show that,although the resources of the three parties have been optimally allocated after the mixed ownership reform,industrial synergies can be generated and the governance system is also transformed into a market.However,there are still certain problems,such as the failure to implement employee stock incentives,the main advantage of Yunnan Baiyao in recent years is not obvious,the collision of state-owned capital and private capital.At present,it seems that the advantages of mixed ownership reform have not yet appeared.Whether the entry ofXinhuadu and Jiangsu Yuyue can bring greater performance improvement to Yunnan Baiyao needs further confirmation from the market.However,the case study of this mixed ownership reform has also enriched the case sample for the reform of China's state-owned enterprises.After that,the reform of China's state-owned enterprises has certain reference significance.Of course,the study of this case found that there are still many areas for private enterprises to participate in the reform of mixed ownership,and we need to conduct more in-depth systematic research.