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Research on the Strategy of Transformation and Development of
the Old Rubber State-owned Enterprise
— Take Company H as an Example
Transformation,Strategy,Merger and Acquisition (M&A),
|Publication Year :||2020|
Company H was established in 2005 with the approval of the Ministry of Agriculture of the People's Republic of China in conjunction with a number of state-owned enterprises. When the company was established, the main businesses were cultivation, production, processing and sales of natural rubber. With the approval of the China Securities Regulatory Commission, the Group issued ordinary shares to the public in 2010 and was listed on the Shanghai Stock Exchange in 2011. Its main businesses remain the cultivation, production, processing and sales of natural rubber. Due to the Group's historical evolution, system and strategic mission, the Group's operating logic and development model are deeply entrenched, which ignoring changes in the industrial environment, market environment, and the environment of the times. As a result, the Group's main businesses heavily rely on the traditional rubber upstream businesses. In recent years, the price of rubber has continued to slump and even prices have inverted which have directly led to the poor profit performance, weak profitability and low capital attention of the group. The company's decision-making layer has deeply felt the bottleneck of the company's development, and is firmly determined to explore new ways of corporate value innovation with investment and acquisition and strategic management as the main methods to realize the restructuring of the group's industrial structure and the transition from 'managing business' to 'managing capital'. I joined Company H at the end of 2018 and is responsible for the company's capital operation and investment mergers and acquisitions. This thesis explores the company's future transformation direction and M & A development ideas through research and analysis of its development history and changes in the industrial environment.
This thesis takes Company H as the research object, making in-depth analysis and research on the company's historical evolution, business composition, its own advantages and disadvantages, and the industrial environment. The analysis and research involved in the industry, combining and drawing on some successful experiences of similar physical enterprise transformation, to clarify the group's transformation direction, establish goals and directions for the group's M & A and development strategy, solve the group's future strategic what to do and how to do it. In combination with practice and based on a review of two M & A and delivery cases that I led in 2019, I summarized the strategic thinking during the M & A process and the integration issues after the settlement.
The M & A development strategy under the transformation needs of state-owned enterprises is a huge systematic project, which is not only an in-depth study and judgment of the industry, but also the proper handling of funding issues, not only the reserve of talent teams, but also some of the issues involved in the state-owned enterprise system. Starting from the actual situation of company H, this thesis contains some personal cognitions and experiences in practice, or it can provide some references for other state-owned enterprises' M & A transformation development.
|Appears in Collections:||臺大-復旦EMBA境外專班|
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