A Study On The Financial Performance Of The Introduction Of SEB By Supor

In the context of incompletely open capital market of China,listing companies,as the one of market entities,have relatively simple entity structure,and thence have multiple institutional shortcomings on the aspect of corporate governance,which affect the promotion of corporate performance to a certain extent.Some listing companies are attempting to promote corporate scale expansion and governance structure improvement by introducing overseas strategic investors.In this context,the one that SEB joins Supor is a typical case of Chinese listing company for introducing overseas strategic investor.However,could Supor promote the rapid development of enterprise by introducing overseas strategic investor? Will Supor improve its operation performance? The managers,investors and the theoretical sector are worthy of considering these questions.This paper,by taking the one that Supor introduces overseas strategic investor SEB as the study object,made further analysis on the change in the financial performance of Supor in the past 13 years before and after the introduction,made an objective assessment on the impacts of Supor's introduction of overseas strategic investors on corporate performance,and discussed the one whether the strategic investor could promote the long-term development of enterprise in a comprehensive way,which will provide a successful experience for other listing companies for introducing strategic investors.In this paper,the relative concepts of strategic investors and the connotations of corporate performance were firstly narrated,and the status quo of China's listing company for introducing strategic investors was simply analyzed.Furthermore,the paper introduced the reasons,main process and basic condition of Supor's introduction of SEB,collected the financial data and other economic data of Supor during the period of 2004~2016,analyzed the change in various financial indicators before and after such introduction on the aspects of profitability,assets operation capacity,debt-paying ability and development ability,and made a comprehensive assessment on the operation performance of Supor in its historical years according to the Regulations on Assessment of State-owned Capital Fund Performance;moreover,the paper reflected the impacts of Supor's introduction of overseas strategic investor on corporate financial performance,analyzed the reasons why Supor gets success in promoting financial performance by introducing strategic investors,and put forward to the problems those should be noticed in the process of introducing overseas strategic investors and the corresponding proposals.The basic conclusions of the study in this paper are: 1.Supor's introduction of overseas strategic investor is a successful case;after introducing the strategic investor,Supor and the strategic investor could complement their respective advantages,achieve a win-win situation,realize deep cooperation on the aspects of governance structure,sales channel,technology and management,and give full play to the synergistic effect.Such introduction could bring significantly positive impact on the corporate finance performance,and is beneficial to achieve the rapid expansion and sustainable development.2.The listing company,if eager to overcome original bottleneck and realize long-term healthy development by introducing strategic investor,needs to obtain the vigorous supports of government and exert the function of regulatory authority in addition to its own effects.3.Listing company should notice the following issues when introducing strategic investor,i.e.:(1)whether the strategic investor to be introduced is appropriate;(2)whether the target of introduction is clear,and whether the development strategy is made;(3)whether the effective fusion and the synergistic effect of both parties are realized;(4)whether the risk of introduction is prevented and solved in the process.