Research On Motivation And Financial Performance Evaluation Of Mixed Reform Of Yunnan Baiyao Group Co.,Ltd

The report of the 19th National Congress of the Communist Party of China clearly instructs that ‘deepening the reform of state-owned enterprises and developing the mixed-ownership economy’,thus both central and local governments have issued various strategies and plans for the reform of state-owned enterprises,which launched a new round of state-owned enterprise reform officially.In the context of the mixed ownership reform of state-owned enterprises,the state encourages and supports private enterprises to participate in the reform of state-owned enterprises actively by full using the market-oriented system of private enterprises and advanced management concepts.With the development of the reform,further research on the improvement of state-owned enterprises’ operation is needed.With the deepening of reform,the impact of SOE mixed ownership reform on the improvement of business efficiency deserves in-depth study.Since the operational efficiency of enterprises is directly related to the level of financial performance,thus the study of the level of financial performance of SOEs can scientifically and reasonably reflect the overall effect of the mixed ownership reform.Firstly,on the basis of sorting out and reviewing relevant theses,based on an analysis of the impact of mixed ownership reform on corporate financial performance.It summarizes the research content,methods and technical routes of this paper,and concludes its main outcomes.Secondly,using a case study approach,this paper takes Yunnan Baiyao as the object of case study to research the motivation,method,effect and financial performance evaluation of its mixed ownership reform.It selects relevant financial indicators for financial performance evaluation and analysis through Contrastive Analysis,Multi-factor Analysis and Event Analysis,which includes short and long-term financial performance indicator analysis through four core financial indicators based on the comparative analysis method.Finally,it concludes as follows:Based on the financial indicator dynamics and the short-term positive stock ticket effect,it reflects that the hybrid ownership reform did have a positive impact on Yunnan Baiyao’s financial performance,but the impact on the company’s subsequent development remains to be observed.The in-depth case analysis on Yunnan Baiyao-a leading pharmaceutical company,would help to deeply explore the impact of mixed ownership reform on the financial performance of state-owned enterprises,and to provide experience for state-owned enterprises to promote mixed ownership reform.