| In the era of digital economy,with the rise and development of digital technologies such as "Internet plus","cloud computing","big data",and "5G",the trend of Digital transformation of social subjects has become increasingly obvious.However,there is no clear understanding of how Digital transformation can improve enterprise value.Under the threat of online platforms,a series of medical reform policies and the impact of the COVID-19,the pharmaceutical circulation industry,as an important medium of drug circulation,is facing a development dilemma.Under the pressure from the upstream and downstream of the industrial chain and the continuous impact of a series of medical reform policies,the industry’s concentration ratio has continued to increase,the pharmaceutical circulation industry pattern is facing remodeling,the profit level is significantly reduced,and the pressure of development is enormous.If the enterprise value is not rapidly increased,it will face the risk of being merged or eliminated by the market.Digital transformation is both an opportunity and a challenge,among which Kyushu Tong’s comprehensive service model of "medical distribution+logistics distribution+product promotion" is the most representative.Through literature research,case study,qualitative and quantitative methods,this study takes Kyushu Tong as the research object to analyze,summarize and summarize its enterprise value improvement based on digital transformation,aiming to provide reference for the pharmaceutical circulation industry to solve the industry development dilemma,enhance enterprise value and achieve high-quality development.This paper selects Kyushu Tong Group,one of the four leading enterprises in the pharmaceutical circulation industry and the pioneer of digital transformation in the pharmaceutical circulation industry,for relevant analysis.Kyushu Tong has achieved some success in improving enterprise value through digital transformation.Taking the value improvement of Kyushu Tong based on digital transformation as a case study is helpful to help enterprises in the same industry cope with industry development difficulties and improve enterprise value.First of all,the topic of this paper is determined from three aspects: the need to assist enterprises in digital transformation in many ways,the necessity of improving the value of pharmaceutical distribution enterprises,and the constant improvement of Kyushu Tong’s value into a new era.Secondly,relevant literature is reviewed and summarized to clarify the research methods and theoretical basis of this study.The entire article adopts literature analysis,case study,qualitative and quantitative analysis,based on core competitiveness theory,dynamic capability theory,technological innovation theory,and value management theory.Again,to the case description part,it specifically describes the course of digital transformation of Kyushu Tong,the specific measures of digital transformation of Kyushu Tong,and the achievements of Kyushu Tong based on digital transformation.In the case analysis part,through in-depth excavation of the motivation of digital transformation of Kyushu Tong,model construction based on Grounded theory,analysis of the impact mechanism of digital transformation on corporate value of Kyushu Tong,and finally,in the non-financial dimension,from R&D capability enhancement,corporate governance optimization,and customer stickiness enhancement,the financial dimension,through factor analysis,EVA analysis of corporate value improvement.Finally,according to the relevant experience of Kyushu Tong,relevant enlightenment was obtained,and relevant countermeasures were proposed to improve the enterprise value of the pharmaceutical circulation industry based on the digital transformation means.The external factors were grasped from a macro perspective,the security measures were improved by the system traction,the cost reduction and efficiency increase were achieved by digital technology,and the core competitiveness was built with a forward-looking perspective to help the industry improve the enterprise value through digital transformation. |