Analysis On The Effect Of Mixed Ownership Reform Of Wuhan Zhongshang

State-owned enterprises are the core industries of the national economy and play an important role that cannot be replaced.Their vigorous development has a profound impact on the national economy of our country.In December 2015,the State-owned Assets Supervision and Administration Commission(SASAC)clearly proposed that state-owned enterprises should be divided into commercial and public welfare types for classified management.For state-owned enterprises in perfectly competitive industries,they are required to actively introduce non-state-owned strategic investors to achieve equity diversification.In the process,China has capital and can adopt the mode of relative holding or equity participation.This provides a direction for mixed-ownership reform for small and medium-sized commercial state-owned enterprises in perfectly competitive industries in my country,that is,to maintain and increase the value of state-owned assets by allowing the shell to introduce strategic investors that suit its own development.Therefore,this paper chooses the example of Wuhan Zhongshang’s implementation of mixed-ownership reform,and studies the situation that it is in a backward position in the industry and under-performing.In order to realize the process of maintaining and increasing the value of state-owned assets,it has opened up new ways for other state-owned enterprises to reform,and provided new ideas for mixed reform.This paper mainly uses literature research method,case study method and comparative research method.First,it introduces the research background,research significance,research method,research content,possible innovations and deficiencies of this paper,and summarizes the motivation and effect of mixed ownership reform.related research results.Secondly,it introduces the implementation process of the mixed-ownership reform,analyzes the motivations of both parties,and comprehensively analyzes the effect of the mixed-ownership reform.Concluded as follow:1.The research believes that the main reasons for the mixed-ownership reform in Wuhan include: responding to the mixed-ownership reform policy and solving horizontal competition;realizing business synergy and expanding business scale;improving the governance mechanism and improving governance efficiency;improving corporate operations and improving corporate profitability.The main reasons for Easyhome to participate in the mixed-ownership reform through backdoor listing are to save the listing cost and expand the brand effect;to solve the financing dilemma and broaden the financing channels;to promote industrial integration and enhance the company’s competitiveness.2.Using the event research method to draw the conclusion that the mixed-ownership reform has significantly improved the excess rate of return and cumulative excess rate of return of the enterprise,and improved the short-term performance of the enterprise;using the financial indicator method,it is concluded that the mixed-ownership reform has significantly improved the assets and profits of the enterprise The scale has improved the profitability,growth and solvency of the company,but it has reduced the operating capacity in the short term,making it significantly lower than the industry average and needs to be improved.3.In terms of company operation,it has enriched the business structure,broadened the sources of business income,optimized the human capital structure,and formed a market-oriented and diversified professional manager system and a perfect salary incentive mechanism.In terms of corporate governance,a diversified shareholding structure and a board of directors structure have been formed,which has broken the absolute control status of state-owned capital and improved governance efficiency.In terms of social benefits,Wuhan Zhongshang’s mixed-ownership reform responds to national policies and provides new ideas for state-owned enterprises.At the same time,it also helps to promote the high-quality economic development of Wuhan and the implementation of major national strategies,deepen the integration and upgrade of the company’s business formats,and improve the company’s profitability.,and actively give back to the society.Finally,this paper puts forward relevant suggestions and inspirations for the mixed ownership reform of state-owned enterprises.It believes that state-owned enterprises should explore ways to carry out mixed ownership reform,clarify the purpose of mixed ownership reform,select suitable enterprises to participate in mixed ownership reform,and improve company management mechanism and governance through mixed ownership reform.