混合所有制改革是我国国有企业改革的重要突破口，旨在通过引入非公有资本，实现不同所有制资本的融合发展，完善现代企业制度，激发企业活力，提高运营效率。此外，混合所有制改革的焦点已经过渡到了从单纯的所有权结构调整转向深层次的体制机制革新这一全新维度。在推动混合所有制改革的过程中，此类公司已在构建现代企业治理体系、人力资源分配制度、以及激励政策发展等方面取得了显著进步和实质性突破；第三，混改同时可以提升国有资本影响力。

本文选取南方电网旗下三家子公司作为研究对象，介绍南方电网所属三家子公司，南网能源、南网科技、南网储能的混改过程，重点介绍股权结构变化；最后根据不同公司混改情况采取不同绩效分析手段，研究混改对于公司财务、非财务等方面影响。

本文通过分析南方电网进行混改策略以及混改效果对于绩效的影响，总结以下结论：首先，混改举措在一定层面上能够带来公司业绩的改善效应，这种改进尤为明显地体现在财务表现之中，尤其是体现在提升了企业的偿债能力这一关键指标上。其次，推行混合所有制改革对于国有企业来说，意味着对股权结构乃至资本构架的有效调整与优化，而这必然会对企业的运营管理产生深远的影响。国企的股东大会中也会出现更多元化的观点和决策方式，这为国企提供了更广阔的视野和更灵活的决策机制。同时，非国有股份的引入也带来了专业经理人团队，他们凭借丰富的市场经验和专业的管理技能，为国企的日常经营管理活动提供了有力的支持。这些变化不仅有助于提升国企的经营效率和竞争力，也为其长远发展奠定了坚实的基础。三是混合所有制改革是一项涉及多个层面的系统性工作，国有企业必须根据自身的实际状况和发展需求进行统筹规划。这要求国企全面分析公司当前的发展状况，包括财务状况、运营效率和市场竞争力等，并结合自身的发展诉求和行业实际，制定出具有针对性的混改方案。有效的混改方案不仅能够激发企业的内生动力，还能提升企业的整体竞争力，从而确保改革的顺利进行和目标的顺利实现。因此，国有企业必须深入研究、精心设计，确保混改方案的有效性，以实现改革的最终目标。

The focus of mixed ownership reform has shifted from simple ownership structure adjustment to a new dimension of deep institutional and mechanism innovation. In the process of promoting mixed ownership reform, such companies have made significant progress and substantive breakthroughs in building a modern corporate governance system unique to China, reforming the labor and personnel distribution system, and establishing a long-term enterprise incentive mechanism. Third, mixed reform can also enhance the influence of state-owned capital. In the "three-year Action Plan for State-owned Enterprise Reform", it reiterated the requirement to deepen the mixed ownership reform, and stressed that the Group needs to conduct research and evaluation of the funded enterprises to ensure that one is mature and one is promoted.

This paper selects three representative subsidiaries of China Southern Power Grid as research objects. Firstly, in the part of literature review, the impact of state-owned enterprise reform on performance, as well as the mode and reasons of mixed reform are studied. Secondly, the theory involved in case analysis is expounded; Third, it introduces the mixed reform process of the three subsidiaries of China Southern Power Grid, namely, China Southern Power Grid Energy, China Southern Power Grid Technology and China Southern Power Grid Energy Storage, focusing on the change of equity structure; Finally, different performance analysis methods are adopted according to the mixed reform situation of different companies to study the impact of mixed reform on the company's financial and non-financial aspects.

This paper analyzes the mixed-ownership reform strategy of China Southern Power Grid and the impact of mixed-ownership reform effect on performance, and summarizes the following conclusions: First, the mixed ownership reform can improve the company's performance on a certain level, and this improvement is particularly obvious in the financial performance, especially in the improvement of the key indicator of the enterprise's solvency. Secondly, for state-owned enterprises, the implementation of mixed ownership reform means the effective adjustment and optimization of the ownership structure and even the capital structure, which will inevitably have a far-reaching impact on the operation and management of enterprises. The intervention of non-state-owned shares has injected new vitality into state-owned enterprises, making them listen more to the voice of the market in their daily operation and management activities. There will also be more diversified views and decision-making methods in the shareholders' meetings of state-owned enterprises, which provides state-owned enterprises with a broader vision and more flexible decision-making mechanism. At the same time, the introduction of non-state-owned shares has also brought a team of professional managers, who with rich market experience and professional management skills, provide strong support for the daily operation and management activities of state-owned enterprises. These changes not only help improve the operational efficiency and competitiveness of SOEs, but also lay a solid foundation for their long-term development. Third, mixed ownership reform is a systematic work involving multiple levels, and state-owned enterprises must make overall planning according to their actual conditions and development needs. This requires state-owned enterprises to comprehensively analyze the current development situation of the company, including financial status, operational efficiency and market competitiveness, and formulate targeted mixed-reform plans in combination with their own development demands and industry realities. An effective mixed-reform program can not only stimulate the internal power of enterprises, but also enhance the overall competitiveness of enterprises, so as to ensure the smooth progress of reform and the smooth realization of objectives. Therefore, state-owned enterprises must conduct in-depth research and elaborate design to ensure the effectiveness of the mixed reform program in order to achieve the ultimate goal of reform.