| Summary: | Based on the concept of sharing in the new era, following the goal orientation of ‘common progress of the people, sharing and win–win’, this article builds a networked integration model of private company taking part in state-owned company mixed ownership reform with industrial clusters as the core and integrating equity sharing, power sharing and benefit sharing from the three levels of capital structure, governance structure and distribution structure. Furthermore, 602 state-owned mixed company from 2007 to 2017 are taken as research samples to conduct an empirical study on the efficiency of networked integration model. The results show that the networked integration model can significantly improve the business performance of company. Equity sharing, power sharing and benefit sharing have obvious and positive effect on business performance. Compared with non-industrial clusters, the networked integration model under the condition of industrial clusters has more effect on promoting business performance. State-owned capital is the most critical factor affecting business performance in the overall sample and the non-industrial cluster sample, while private capital is the most critical factor affecting business performance in the industrial cluster sample.
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