Analysis On The Synergistic Effect Of Asset Reorganization Of "Great Wall Computer" Company

State-owned economy is an important part of China’s economic system.For a long time,the state-owned economy has been playing an irreplaceable role in the socialist market economy.However,in the process of economic development,the drawbacks of state-owned enterprises are gradually exposed,and the discussion on the reform of state-owned enterprises is increasingly fierce.Among them,asset restructuring plays a crucial role in the reform of state-owned enterprises,which can effectively help state-owned enterprises to achieve strategic transformation.The state-owned assets supervision and administration commission(sasac)has proposed three ideas for soe asset restructuring:aiming to cultivate world-class enterprises,promoting industrial development,transformation and upgrading,and giving play to synergies to improve efficiency.At present,many state-owned enterprises in China need to carry out strategic transformation,and "Great Wall computer" is one of the companies that attracts much attention.The 2016 restructuring of Great Wall changed the company’s main business,shifting the company from computer hardware to new areas of information security.Because "Great Wall computer" this asset reorganization activity used a variety of restructuring methods and significantly improved the company’s operating performance,it has caused wide discussion.Again because "the Great Wall computer"relatively short time the assets restructuring activities,and restructuring background is more complex,so this article on the case company’s industry background and restructuring motivation systematically expounded on the basis of,at the same time from the management synergy,management synergy,financial synergy and grow together four aspects analyses the case of the synergistic effect of asset reorganization;Furthermore,based on the perspective of synergetic effect analysis,the core competitiveness of the case company before and after asset restructuring is analyzed and evaluated.The research found that through the asset restructuring,"Great Wall computer" introduced a more perfect management system,reduced the company’s period expenses and improved the company’s asset management and operation efficiency,and realized management synergies."Great Wall computer" effectively absorbed by the acquiring firm through assets restructuring activities "information on the Great Wall","zhongyuan electronic" and "the special" companies such as the high quality resources,expand the scale of the enterprise in the field of information security management,further enhance the enterprise market power,the enhancement enterprise’s profit ability,realizes the management synergy;After the restructuring,"Great Wall computer" has a more complete management system,so the structure and proportion of assets and liabilities are more reasonable,further achieving financial synergies;Based on the realization of the above three effects,Great Wall computer’s enterprise scale expanded,profit growth rate increased and owners’ equity(capital accumulation rate)increased,achieving growth synergies.As a result of the above synergies,the company’s economic benefits,financial status,management level and research and development capacity have been improved,and the company’s core competitiveness has been enhanced.Based on the above research conclusions,this paper concludes the following research implications:(1)listed companies should carefully choose a reasonable restructuring method according to their own conditions when carrying out asset restructuring activities,so as to give full play to the synergies of asset restructuring,improve their operating and financial conditions,and enhance their profitability;(2)although "Great Wall computer" has improved the core competitiveness of the enterprise through asset restructuring,the company should further increase its investment in research and development because it attaches great importance to technology research and development in the newly entered information security field,so as to promote the enterprise to have stronger core competitiveness in the new industry.