Analysis Of JD Company’s Financial Performance Under Double-layer Equity Structure

In the process of continuous development and growth,as the cornerstone of its development and innovation,the ownership structure is particularly important.In recent years,alibaba group,jingdong group,baidu,millet and other domestic excellent science and technology innovation of science and technology enterprises successively in abroad and Hong Kong,with its essential reason is that domestic shares with right to equity system does not conform to the enterprise’s demands,and the enterprises without exception the equity ownership structure of double line to ensure the founder of the drive and control,to ensure the benign development of the enterprise.In the face of this phenomenon,for the two-tier equity structure,although the CSRC and the Shanghai Stock Exchange started the pilot registration system on March 2,2019,and mentioned the corporate governance of the special voting shares of the science and technology companies in the relevant trial methods of the Science and Technology Board Requirements,but related work is still at the pilot level.Based on the above background,it is very worthwhile to study the double-layer equity structure and its impact on corporate performance.This article first sorts out a series of studies on the double-layer equity structure by domestic and foreign scholars,and systematically reviews the relationship between its application and selection and the company’s performance;through the literature research method,it expounds the research on the double-layer equity structure of the main body of the study.Secondly,by means of case study and comparative study,this paper makes a detailed study on the whole process of financing and listing of jd group,a leading Internet enterprise,and the changes of its shareholding structure,and analyzes the corresponding organizational structure of jd group under the shareholding structure.Again,from a financial perspective study analyzes the reason of jingdong implement double equity structure and implement path,using the index analysis method to jingdong longitudinal comparison of corporate performance,the selection of the same stock right system of electrical industry business enterprise suning transverse comparison,analyzed the double ownership structure affect its performance;Finally,the paper draws a conclusion,and puts forward two enlightenment from the two sides of the dual class share structure.The research of this paper is helpful to understand the causes,nature and impact of dual-class share structure on corporate performance,so as to provide some useful experience for enterprises trying to use dual-class share structure in the emerging industries.