我国政府对于高新技术、节能减排等企业的发展都有财政补贴,以鼓励这类企业的发展。政府补助在短期内的确能够对公司业绩产生积极影响,但长此以往可能会有越来越多的不利影响显现出来,最终导致扶持政策偏离初衷,对于上市公司的长远发展非常不利。本文以志高控股为例来说明政府补助的弊端,这对于今后政府补助政策的实施以及企业的长期发展都具有现实意义。 My government has financial subsidies for the development of high-tech, energy-saving and emission reduction enterprises to encourage the development of such enterprises. Government subsidies can indeed have a positive impact on the performance of the company in the short run. However, more and more unfavorable effects may be seen from the long run. Eventually, the subsidy policy will deviate from its original purpose and will be very unfavorable to the long-term development of listed companies. This paper takes Zhigao Holding as an example to illustrate the drawbacks of government subsidies, which is of practical significance for the implementation of government subsidies and the long-term development of enterprises.