Abstract: As China's economy shifts from a high-speed growth stage to a high-quality development stage, companies are also facing a push towards high-quality development. Asset quality, as a key factor, has a significant impact on the company's development. This paper took Jiangxi Sunshine Dairy Group Co., Ltd.,（short for Sunshine Dairy） as an example to deeply analyze the asset quality of regional dairy listed companies. By comparing the net asset return rate, total asset return rate, total asset turnover rate, inventory turnover rate, accounts receivable turnover rate, current ratio, quick ratio, cash ratio, and liquidation value ratio of Sunshine Dairy and Xinjiang Tianrun Dairy Co., Ltd., （short for Tianrun Dairy） from 2019 to 2023, this study revealed the current status and changing trends of asset quality in Sunshine Dairy. Research has found that although the profitability of Sunshine Dairy is higher than that of Tianrun Dairy and the industry average, its net asset return rate and total asset return rate have shown a downward trend in recent years, and the total asset turnover capacity and asset operation efficiency need to be improved. At the same time, Sunshine Dairy has a strong short-term debt paying ability, but there is a problem of asset redundancy, which has prevented it from fully utilizing its assets to generate more income. In addition, the liquidation value ratio of Sunshine Dairy continues to rise, indicating an increase in its tangible asset value. This study was of great significance for understanding the asset quality characteristics and influencing factors of regional dairy listed companies, and provided useful references for related enterprises to improve asset quality.

Key words: regional dairy listed companies, asset quality, Sunshine Dairy