Did Harmo's technological reorganization succeed?

Harmo Technology was successfully reorganized, and its major assets reorganization was completed on February 0 17+0 1. In the first half of 2020, the company's operating cost was 654.38+billion, down 23.7% year-on-year, lower than the decline of operating income of 35.7%, and the gross profit margin decreased by 654.38+02.5%. During the period, the expense ratio was 99.5%, an increase of 45.9% over the previous year, which was a drag on the company's performance. Operating cash flow increased from-63.738 million to10.732 million, a year-on-year increase of 165.438+06.8%.

There are no fewer than 20 definitions of asset reorganization, among which the following are widely used in China:

1, defined from the perspective of asset reorganization.

Liang Shuang (1997) and other experts believe that assets are economic resources owned by enterprises, including human resources, financial resources and material resources. Therefore, asset reorganization is the reorganization of economic resources, which includes the reorganization of people, the reorganization of wealth and the reorganization of things. Zhao Nan (1998) even thinks that asset reorganization includes not only the reorganization of assets in terms of people, money and things, but also the reorganization of entering the market.

2. Define from the perspective of business integration.

Asset reorganization refers to the reorganization of internal and external businesses through various channels to improve the overall quality and profitability of the company (Zhang Ning, Fan 1999). This definition is defined from the perspective of business integration, which basically reflects the purpose of asset reorganization. However, the universality is not strong, the connotation and extension are not clear, and it does not involve the property right party of asset restructuring and business restructuring.

3. Define from the perspective of resource allocation.

Asset reorganization is resource allocation (Xue Xiaohe, 1997). Some people further think that asset reorganization is a process of redistribution of stock assets, and its basic meaning is to optimize industrial structure and improve resource utilization by changing the allocation pattern of stock resources among different ownership, different industries, different regions and different enterprises. However, Hua Min and other scholars have further expanded the concept of asset reorganization, believing that asset reorganization involves two aspects. First, enterprise reorganization at the micro level, mainly including: the adjustment of product structure, capital structure and organizational structure within the enterprise; Mergers and alliances outside enterprises. The second is the macro adjustment of industrial structure. The adjustment of industrial structure is a process of resource redistribution at a higher level than enterprise restructuring.