Research On The Impact Of State Assets Relief Fund On Financial Performance Of Listed Private Enterprises ——Taking Tong Petrotech Corp As An Example

Private economy is an indispensable economic force to promote reform and opening up and the development of national economy.However,affected by factors such as high guarantee cost and difficult risk control,private enterprises have great cash flow pressure in the process of development.In 2018,the State Council proposed to establish a relief fund for private enterprises to promote the development of private economy through the mobilization of stateowned capital.As an emerging aid fund,the state-owned rescue fund has attracted extensive attention from all walks of life.The state-owned rescue fund aims to help listed private enterprises get out of difficulties and achieve sustainable development.However,due to the short development process,there are few relevant studies on the impact of the state-owned rescue fund on the financial performance of listed private enterprises in the academic community,and there is a lack of relevant case studies.How can the state-owned assets rescue fund effectively rescue the listed private enterprises caught in the capital liquidity crisis,make them develop healthily and orderly in the capital market,realize the state-owned assets rescue fund to improve the financial performance of listed private enterprises and protect the value preservation and appreciation of the rights and interests of relevant parties at the same time.It is of practical significance to study the impact of listed state-owned funds on the financial performance of private enterprises.Using the methods of literature review,case study and financial statement analysis,supported by stakeholder theory,information asymmetry theory,financing control right theory and goal setting theory,and drawing on the existing research results at home and abroad,this paper studies the impact of state-owned relief funds on the financial performance of listed private enterprises.This paper selects Tong Petrotech Corp,which was bailed out by the private development fund of Shaanxi Province in 2020,as the case study object,analyzes the impact of the state-owned rescue fund on the financial performance of listed private enterprises by comparing the capital cost,capital structure,financial indicators and economic added value of Tong Petrotech Corp before and after the rescue,and puts forward suggestions from three aspects:improving the state-owned rescue model,giving full play to the state-owned rescue efficiency and supervising the state-owned rescue transactions,To improve the positive effect of state-owned assets relief fund on the financial performance of listed private enterprises.It is hoped that by discussing the impact of Shaanxi private development fund on Tong Petrotech Corp's financial performance and improvement suggestions,it can be used as a reference for the rescue of other listed private enterprises.