国企混改整合的主要目标是改善国有企业资本结构，培养有竞争力和创新力的治理体系，进而有效提升国企运行效率。然而，现有理论研究表明，国企混改整合是否能提升国企运行效率与绩效，还未形成一致的结论。以创新方式为视角，基于双元创新理论，采用双案例对比研究方法，探讨处在不同的混改整合阶段下创新方式对战略绩效的影响路径与机理。研究发现，在混改整合准备阶段，利用式创新更有利提升企业战略绩效；而在混改整合优化阶段，探索式创新更有利于提升企业战略绩效。研究结论不仅解释了理论界对国企混改经济结果的现象与争议，建立了国企混改整合中不同创新方式对企业战略绩效影响路径的理论框架，而且拓展了双元创新理论应用在管理学中的边界范围，为混改企业提升战略绩效提供了理论指导。

   The main goal of the reform and integration of state-owned enterprises is to improve the capital structure of state-owned enterprises, cultivate a competitive and innovative governance system, and effectively improve the operational efficiency of state-owned enterprises. However, the existing theoretical research shows that there is no consistent conclusion on whether the integration of state-owned enterprises can improve the operational efficiency and performance of state-owned enterprises. From the perspective of innovation mode, and based on the theory of dual innovation and the method of dual case comparison, this paper discusses the influence path and mechanism of innovation mode on strategic performance in different stages of mixed reform and integration. It is found that in the preparation stage of mixed reform and integration, the utilization innovation is more beneficial to improve the strategic performance of enterprises. While, in the stage optimization of mixed reform and integration, innovation is more conducive to improving the strategic performance of enterprises. 
   To be specific, in the preparation stage of mixed reform and integration, enterprises can improve the industrial structure, advance the operation efficiency, increase production capacity, explore problems of existing technologies, raise product qualification rate and improve internal processes through utilization innovation, actively enhance the enthusiasm of employees, provide customers with quality products, so that this can escalate the number of existing customer groups and the level of customer satisfaction, gradually expand the market share, constantly increase the return on equity, thus improving the overall strategic performance. However, in this stage, enterprises, by using the exploratory innovation modes, usually spend a large amount of capital to expand the scale of production lines, and new technologies are not mature and the control over product quality is neglected. As a result, a large amount of capital is invested in new technical renovation project, but after-sales service fails to catch up with the selling. This leads to excess production capacity, internal process slip, reduction of new product qualification rate, difficulties in broadening sales channels, and decline of market share in some regions. Furthermore, it may cause a decline in corporate profits and reduction of financial dimension. 
    Therefore, in the preparation stage of mixed reform and integration, the successful application of utilization innovation will be more beneficial to the strategic performance improvement of state-owned enterprises. On one hand, the employment mechanism, reward mechanism and performance feedback mechanism are no longer suitable for the current development of enterprises. So, the motivation of employees is not sufficient to undertake the work and their enthusiasm is at a low level. On the other hand, enterprises still target their sales groups at existing customers, and fail to effectively explore new markets and new customers, thus resulting in narrow sales channels and a decline of customer satisfaction. 
    In addition, the main research still focused on the transformation of existing products and the improvement of existing technologies, the research and development of new technologies being at a low level, the introduction of professional talents cannot meet the demands, the research and development process limited by professional technologies, and the improvement of learning and growth of employees is not obvious, which leads to issues on the advance of internal processes and reduction of strategic performance indicators. Whereas, by means of exploratory innovation, enterprises can actively introduce technical talents and research and development personnel, carry out novel research and development of new technologies and new products, so as to optimize their production mode, significantly increase product quality, sharply lower product cost, thus improving their internal processes in all aspects to reach a high level. At the same time, attention should be paid to cultivate employee′s learning ability and to promote a new business model, actively expand sales channels, excavate potential customer base, and significantly increase strategic performance. The problem of integration in many aspects in the process of mixing and reforming is effectively solved, and the production and operation are relatively stable. 
    Therefore, in order to further improve the performance of state-owned enterprises, they should actively explore innovation paths, so as to finally enhance the vitality of enterprises and competitiveness of enterprises. It can be seen that exploratory innovation, which can realize differentiation advantage, is more significant to improve the strategic performance of enterprises in the stage of hybrid reform, integration and optimization. On this basis, the theoretical path of the impact of innovation on the strategic performance of enterprises in the stage of mixed reform and integration is constructed from the perspective of dual innovation. 
    The practical enlightenment is as follows: firstly, in the process of reform of state-owned enterprises, it is necessary to implement the innovation-driven development strategy, so as to effectively improve the innovation ability of enterprises. Innovation is the main means to improve the strategic performance of enterprises during their reform. Although different innovation methods have different effects on improving the strategic performance of enterprises at different stages of mixed reform, the implementation of innovation-driven development strategy for effective improvement of the innovation ability of enterprises is still the only way for the mixed reform of state-owned enterprises to achieve their strategic performance. 
    Secondly, in the process of reform of state-owned enterprises, the concept of dual innovation should be integrated into each stage, in order to lead the development by innovation and realize the complementary advantages of enterprise resources and elements with the help of different types of innovation. While implementing the mixed reform and integration, enterprises should pay attention to the impact of different innovation methods on enterprise resources. Whether in the preparation stage or in the optimization stage of mixed reform and integration, enterprises should choose the suitable innovation methods which will have a positive impact on their strategic performance, identify the impact of the development path of innovation methods on strategic performance, and improve strategic performance accordingly, so as to achieve the strategic goal of mixed reform and integration.