Capital operation can accumulate a certain amount of funds in a short time, optimize the capital structure, make use of idle capital, effectively utilize the resource advantages of enterprises, and truly improve the economic interests of enterprises.
In order to meet the needs of market competition, enterprises can be reorganized. Restructuring and reorganization is to transform traditional state-owned enterprises into modern corporate enterprises. There are two forms: limited liability company and joint-stock limited liability company. Under the company system, the subject of property rights is diversified, and the organization and enterprise resources are all newly combined. Reorganization and reorganization have changed the traditional mode of operation. Improve the utilization rate of funds and enhance the vitality of enterprises. It provided conditions for the birth of the brand.
1993 at the beginning of the establishment of zhenping ziying sweater factory in Henan province, there were only 30 looms. 1996, the scale was first expanded from 30 looms to 750, and the number of employees increased from 60 to nearly 1000, forming an annual production capacity of 250,000 sweaters. Through leasing and joint operation, the number of looms has increased from 750 to 3,000, and the production capacity has increased from 250,000. Acquired and merged a number of small raw material enterprises that stopped production, forming a unified feeding policy. At the same time, unified drawings, unified acceptance, unified trademarks and unified exports are implemented for the whole enterprise. Actively develop new products, form diversified businesses, expand sales scope, increase export volume, and form the largest sweater export base in Henan Province. 1997, the export volume of this factory accounted for 65% of the total export volume of the whole province, achieving export supply of190,000 yuan, with profits and taxes of 2.05 million yuan. The successful application of the unified strategy has gradually formed the brand of the factory and gained the competitive advantage in the industry. Merger is the act of one enterprise absorbing and merging another enterprise, which makes it lose its legal personality. Acquisition is to control the other party's equity by buying the other party's shares. Asset management means such as merger and acquisition and holding can concentrate capital in a short time, avoid repeated construction and large-scale investment of enterprises, and enable enterprises to achieve leap-forward development at a lower cost. With the expansion of assets, enterprises can obtain increasing profits, save production costs, improve market competitiveness and increase market share of products. Looking at the development history of some famous enterprises in the world, almost none of them developed through internal expansion, and most of them adopted the way of merger.
China Huayuan Group was established in Pudong, 1992. China Textile Federation, Ministry of Foreign Trade and Economic Cooperation and Bank of Communications jointly established a large-scale comprehensive company. Shortly after its establishment, the company merged or acquired more than a dozen state-owned textile enterprises, which revitalized more than 2 billion yuan of state-owned assets. In recent years, the group has developed rapidly, and now it has professional export companies and overseas companies such as wholly-owned enterprises, more than 40 holding companies, and 10 joint ventures. The assets reached 6 billion and the profits reached 300 million.
Stripping off invalid assets through auction and sale is an important means to improve asset quality. Shenzhen SEG Group is a large state-owned enterprise group led by electronic high-tech industry. However, from the early days of its establishment to the early 1990s, it was in trouble due to poor management. The potential loss of enterprises is more than 200 million yuan. In the process of rectification, while revitalizing effective assets, we will decisively divest invalid assets. In just a few years, through liquidation, dissolution, bankruptcy and other forms, dozens of enterprises have been cleared, more than a dozen have been cancelled, more than a dozen have gone bankrupt, and asset restructuring has been successful. Shenzhen Vanke Group is an enterprise group with real estate as its leading business. The brand "Vanke" has been associated with real estate in people's minds. 1995, Vanke also owned the largest distilled water producer in China, namely Ipoh Distillation Water Plant, with an annual output of over 50,000 tons, with good benefits and a certain position in the market. In order to concentrate on the brand "Vanke", the group leaders decided to sell Ipoh Distillation Water Plant, which is far away from the real estate business, and concentrate on the development of real estate. Whether it is merger or division, the ultimate goal is to better implement the strategic objectives of enterprises, and capital operation is only a means, not the ultimate goal. In addition, in the process of merger, we should pay attention not to the expansion of quantity, but to the improvement of quality. It is more practical to create superior enterprises than to engage in large enterprises.
"Huck fish" is used by Haier to describe those enterprises that are on the verge of bankruptcy, but have good equipment performance and can be stripped of debts, but are in trouble due to poor management and other reasons. Haier believes that these enterprises can be merged, and as long as they are scientifically managed and reorganized, they can "wake up". Under the guidance of this strategy, Haier has successively merged more than 20 enterprises, and achieved economies of scale after the merger through unified and scientific management and reorganization, and the influence of Haier brand is growing. Haier's experience tells people that Haier's rapid growth, due to the use of the "Huck Fish" strategy, almost won the battle without any funds and seized a large number of enterprises. At the same time, "Haier" brand itself has rapidly grown into one of the best brands in the country, which is the best example of brand surge.