| Since the State Council issued the "Opinions on the Development of Mixed Ownership Economy in State-owned Enterprises" in 2015,the state’s signal to encourage state-owned capital to participate in private enterprises has made it common for private enterprises to introduce state-owned capital in the mixed reform model in recent years.Especially for the environmental protection companies studied in this article,in recent years,as the downward pressure on my country’s economy has increased and the implementation of deleveraging policies,the development of environmental protection private enterprises has also encountered a series of problems.The introduction of state-owned capital for self-rescue has become a major issue in the environmental protection industry in recent years.hot topic.This article takes the introduction of state-owned capital into China’s urban and rural areas by Bishuiyuan as an example,and analyzes the behavior of introducing state-owned capital,hoping to provide some suggestions for the mixed reform of other environmental protection private enterprises in my country.This article mainly studies the reasons for the introduction of state-owned capital by Bishuiyuan,analyzes its economic consequences,and finally draws conclusions and recommendations.The main reasons for Bishuiyuan’s introduction of state-owned capital include:solving the financial problems faced by the company,obtaining the resource advantages of state-owned capital,fully releasing positive externalities,and seeking the transformation of business model.After Bishuiyuan introduced state-owned capital,this article analyzed the short-term market response through the event research method and found that the excess return rate rose sharply in the short term after the mixed reform.This shows that the company’s move is favored by the market and has a positive impact on the short-term market response.Through the analysis of financial indicators,it is found that the profitability,development ability,short-term solvency,and cash flow of the company after the mixed reform in 2019 have improved,although the short-term improvement of the company’s long-term solvency and operating ability has not yet been reflected However,the situation has stabilized,and we look forward to achieving better results with the support of state-owned capital in the future.In addition,due to the impact of the new crown epidemic,Bishuiyuan’s performance has declined in 2020,but it is still actively responding to challenges and continues to exert synergies with China Communications Group,and several projects have successfully won bids.For Bishuiyuan,the introduction of state-owned capital has eased its financial pressure and brought more high-quality project resources.At the same time,the business model has also realized the transformation from “heavy assets” to“light assets”,and achieved significant performance.increase.The conclusion of this paper is that Bishuiyuan’s mixed reform by introducing state-owned capital is beneficial to the enterprise to produce good economic consequences,as well as the improvement of various problems,which promotes the development of the enterprise.And finally,this article provides relevant suggestions for environmental protection private enterprises that plan to introduce state-owned capital. |
