| After thousands of years of development,China’s ceramic industry has become one of the important symbols of China’s historical and traditional civilization.However,due to the impact of the COVID-19,the change of ceramic consumers’ concept and the response to the national requirements for energy conservation and emission reduction,the development of listed companies in the ceramic industry has been greatly impacted,which has led to the reduction of financial performance of listed companies in the ceramic industry.Therefore,how to improve the financial performance of listed companies in the ceramic industry is an important issue for their future development.This article provides an overview of financial performance,analyzes the current development status of ceramic industry listed companies,proposes the future development trends of ceramic industry listed companies,analyzes the factors that affect the financial performance of ceramic industry listed companies in China from both theoretical and empirical research,and proposes improvement strategies.Firstly,by studying the relevant theories of financial performance,including organizational performance theory and system theory,and conducting SWOT analysis of the development status of listed companies in China’s ceramic industry,as well as comparing their performance status with other industries;Secondly,internal and external analysis was conducted on the influencing factors of the financial performance of ceramic industry listed companies,identifying four main influencing factors: residents’ consumption level,market competition,equity structure,and research and development investment.The mechanism of each influencing factor’s impact on the financial performance of ceramic industry listed companies was comprehensively analyzed;Thirdly,according to the mechanism analysis,we selected the financial data of listed companies whose main business was ceramic related products from 2017 to 2021 as the sample for sorting out.With the total return on assets as the explanatory variable,and the residents’ consumption level,market competition,equity structure and R&D investment as the explanatory variables,we conducted an empirical study on the financial performance of listed companies in the ceramic industry.The results show that,The increasing trend of residents’ consumption level will enhance the financial performance level of ceramic industry listed companies;The increasing trend of market competition will enhance the financial performance level of listed companies in the ceramic industry;The increasing trend of equity structure will enhance the financial performance level of ceramic industry listed companies;The increasing trend of R&D investment will enhance the financial performance level of listed companies in the ceramic industry;Finally,based on the empirical results,corresponding improvement measures are proposed.The government should strengthen supervision and management to create a good market competition environment,and also strengthen support for listed companies in the ceramic industry;From a social perspective,it is necessary to ensure consumption levels,increase residents’ recognition of state-owned brands,and also strengthen the regulatory effectiveness of external markets;From the perspective of the company itself,it is necessary to improve its internal supervision mechanism,protect the legitimate rights and interests of shareholders,and strengthen the research and development of advanced ceramics to enhance the financial performance of listed companies in the ceramic industry. |
