This paper uses output-oriented two system model to compare traditional energy and new energy listed companies’ production and operation efficiency as well as their efficiency improvement. The results show that the average efficiency of traditional energy industry is significantly higher than that of new energy industry. The ownership difference between state-owned enterprises and private enterprises does not result in obvious efficiency gap in the same energy sector, but in traditional and new energy sectors, ownership makes a great difference. Traditional energy and new energy industries are both facing huge pressure of cost control: in particular, in traditional energy companies, operating cost, total number of employees and the percentage of bachelor degree or above are redundant seriously, new energy enterprises undertake more pressure in aspects of fixed assets and R&D investment. At the same time, the shortage of operating income and net profit shows that the new energy enterprises face greater pressure in scale expansion and profit growth.
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