| dc.description.abstract | This study investigates three aspects - corporate governance, financial performance and business models - of the two largest bakery companies in the Shanghai A-share market in mainland China - Toly Bread Co.,Ltd and Ganso Food Co.,Ltd. The findings, after using DuPont analysis and Business Cavas method, show very different aspects between the two companies. First, the management of Ganso Food Co.,Ltd. is perfect in terms of expertise in bakery industry, but that of Toly Bread Co.,Ltd.is not. Second, DuPont′s analysis indicates, that the two companies have different financial figures due to the different business models, but the net profit margin is not much different. Finally, using the Business Canvas method, we find that Toly Bread Co.,Ltd focuses on production and delivery of products, and it does not do any sales activities on its own. On the other hand, Ganso Food Co.,Ltd. handles all sales activities in their own distribution channels only. Although both are listed companies, a large proportion of equity is concentrated in the hands of the founders and their family members. Regardless of the business model, both companies are firmly controlled by the founding families. | en_US |