Research On The Impact Of Strategic Investors On Financial Performance In The Mixed Reform Of State-owned Enterprises

In the face of increasingly fierce global market competition,state-owned enterprises,as a key component of the national economy,play a vital role in the process of China's sustainable economic development and are the main force of China's economic development.However,in the process of China's transition from a planned economy to a market economy,state-owned enterprises have gradually exposed some problems.From the external environment,shrinking global trade and declining demographic dividends are of course factors that have caused profound changes in China's economy,but at the same time,problems such as the unreasonable layout of state-owned capital and lower production and operation efficiency than private enterprises have gradually become recognized facts.Based on this background,China has proposed a series of policies and guidelines for the reform of state-owned enterprises,which aim to stimulate the vitality of state-owned enterprises and enhance their lasting competitiveness in order to meet the objectives of increasing national economy and fiscal revenue.Reform and opening up have opened the door to state-owned enterprise reform.In the forty-year reform process,China has gone from simple decentralization and concession to the establishment of a modern enterprise system with clear property rights,separation of government and enterprise,and scientific management;from the reform of property rights systems,governance systems,and operating mechanisms The top-level design of the state-owned enterprise reform has achieved remarkable results.Among them,the proposal of mixed ownership is in line with the law of the inevitable integration of the development of state-owned enterprises and private enterprises in the capital market.It is a key step to enhance China's economic quality advantage.State-owned enterprises have gradually developed and strengthened in the course of reform.Synchronous promotion.In the development process of the reform of mixed ownership,there have been gradually formed four realization paths of restructuring and listing,mergers and acquisitions,and introduction of strategic investors and employee stock ownership.In recent years,the introduction of strategicinvestors with certain qualifications is considered to be more important for state-owned enterprises.Paths with strategic value advantages.Strategic investors are different from financial investors and have a longer and stronger willingness and ability to provide support for the development of state-owned enterprises in terms of strategic value,thereby enhancing the sustainable competitiveness of enterprises.This article is based on the theme of introducing strategic investors in the reform of state-owned enterprises' mixed ownership.First of all,the current research trends are clarified based on a review of relevant literature.The research content and method of this article are determined.Based on this,the emergence of mixed ownership reform and its historical evolution are carried out.Review;Secondly,combed the realization path of mixed ownership reform,related concepts and theoretical foundations of strategic investors,and clarified the financial performance analysis system used in this article;Finally,the corresponding research methods are used to target the industries that the country currently proposes to reform.Beijing NavInfo Technology Co.,Ltd.was selected as the case analysis object,focusing on investigating the changes in financial performance after its introduction of strategic investor Tencent in 2014.Based on the above analysis,the research conclusions of this paper were drawn,and the implications of this paper were summarized and summarized.Through theoretical analysis and case analysis,we can see that the introduction of strategic investors should meet the conditions of having strong funds,relatively concentrated holdings,long-term holding intentions and capabilities,and the ability to provide strategic value support.After the introduction of strategic investors,Through the integration of the resources of both parties,for the state-owned enterprises to be merged and reformed,they can achieve the market mechanism,stimulate the vitality of the enterprise,and play a good role in improving the impact of financial performance.The main inspirations obtained in this paper are as follows: first,the current pilot of mixed reform is still focused on seven key areas,and encouraging mixed reform in other industries is of great practical significance for improving China's enterprise reform.Second,we should encourage the introduction of strategic investors as the mixedreform path,which can be combined with the core employee stock ownership plan.Thirdly,the quality of strategic investors should be ensured after the introduction of strategic investors.Fourth,we should ensure the frequency and mode of communication between the two sides in the process of the mix-up,and emphasize the integration of resources between the two sides after the mix-up.