Analysis Of The Motivation And Effect Of The Asset Reorganization Of State-owned Military Enterprises

Under the background of deepening the reform of state-owned enterprises and the modernization of national defense,the reorganization and reform of military enterprises with national strategic significance has been the trend of The Times.With the adjustment of state-owned capital structure and the intensification of international competition in the field of national defense industry,many central military enterprises have built a number of world-class military enterprises through professional reorganization and integration to improve the competitiveness of China’s national defense field.This thesis selects state-owned military enterprises as the research object,which combines the current hot spots of state-owned enterprise reform and national defense construction,which can enrich the research on the asset reorganization of such enterprises,and provide reference for the subsequent reorganization and integration of state-owned military enterprises.The thesis firstly introduces the background of assets reorganization of state-owned military enterprises and the present situation of assets reorganization in recent years;secondly,selects China coastal defense as the specific research object,introduces the scheme,process and characteristics of the two material asset reorganization,and analyzes the motivation of assets reorganization from its own strategy and market demand;and analyzes the market reaction and non-financial indicators.Finally,the research conclusion are summarized and suggestions are put forward to improve the asset restructuring effect of military listed companies like China Haiphong.This thesis analyzes the following three conclusions.First,the poor development prospects of the computer distribution and integrated circuit manufacturing industry,the poor operating conditions of enterprises,the strategic layout needs of the holding group and the good development prospects of the military electronic information industry are the main reasons for the major asset restructuring of China’s coastal defense.Second,the asset restructuring of state-owned military enterprises has a strong correlation and group dominance.Most of the asset restructuring occurs between the central enterprise groups or within the group,and the negotiation transaction cost and resistance of the asset restructuring are relatively small.Third,China’s coastal defense assets restructuring effect is relatively good.China’s coastal defense has changed the current situation of poor business performance before the restructuring and meets the needs of the group’s strategic layout;the market is optimistic about the two major asset restructuring,with a good short-term market response;assets,solvency and operation capacity,business performance,the overall comprehensive performance score;the product market scale,the customer group is more stable,human resources and research and development level is improved,is the core supplier of China’s naval equipment,and potentially enhance the competitiveness of China’s coastal defense.Accordingly,this thesis puts forward the following suggestions for the assets reorganization of state-owned military enterprises: the formulation of the reorganization plan during the actual requirements,the implementation of the plan should be as legal,efficient as possible,introduce high-quality private capital to promote the military-civilian integration;pay attention to the integration of reorganization resources,pay more attention to the improvement of technical level,and the military business qualification of the reorganization target.