Research On The Performance Of Aucma's Debt Restructuring

In recent years,China's economic growth slows down,and the competition between companies is increasingly fierce.In this external environment,the survival and development of Listed Companies in China are faced with many risks.At the same time,some listed companies,due to their own internal factors such as improper operation and management,unreasonable strategic decision-making,eventually lead to the situation of capital turnover difficulties and the accumulation of a large number of debts.Therefore,the company solves the debt crisis through debt restructuring,and makes the company return to normal operation.According to the development of domestic debt restructuring,although the number of companies choosing debt restructuring is increasing,less than half of the companies really play the role of debt restructuring.Therefore,this paper takes Aucma,a typical representative of debt restructuring of home appliance companies,as the research object,scientifically and comprehensively evaluates the performance of debt restructuring,analyzes the implementation effect of debt restructuring of Aucma,so as to judge whether the company plays the real role of debt restructuring.In this paper,the performance evaluation system of debt restructuring of Aucma is constructed to evaluate the performance level of Aucma,In order to carry out the debt restructuring performance research of Aucma.First of all,this paper introduces the research background,purpose and significance,combs the domestic and foreign literature on the motivation of debt restructuring,the impact of debt restructuring on corporate performance and performance evaluation methods,and makes comments;secondly,it specifically explains the concepts of debt restructuring and performance evaluation,as well as the principal-agent theory,debt contract theory and budget soft contract used in this paper Bundle theory;then,introduce the basic situation of Aucma company through company profile,pre restructuring development and company performance evaluation,and explain the specific situation of Aucma debt restructuring through debt restructuring plan and its implementation;next,select16 core indicators in terms of financial performance and non-financial performance according to the principle of index selection The performance evaluation index system of Aucma debt restructuring is calculated according to the performance evaluation system andthe company's financial data,and the performance evaluation results of debt restructuring are obtained;finally,the reasons are analyzed according to the performance evaluation results of the company's debt restructuring,and the Enlightenment of the company's debt restructuring is obtained,as well as the relevant suggestions to improve the performance of Aucma debt restructuring company.This paper mainly uses the method of case analysis,mutation progression method and other methods to evaluate and analyze the debt restructuring performance of Aucma company.The results show that,in the short term,debt restructuring significantly improves the profitability,solvency and market performance of Aucma in its financial performance,but has little impact on innovation performance.In the long run,the impact of debt restructuring on financial performance,market performance and innovation performance is not significant.Generally speaking,Aucma makes profits in the short term by means of debt restructuring,but from the perspective of long-term development,the company does not pay attention to the problems existing in its operation,thus injecting new vitality into the future development of the company.