More and more reconstruction events happened in China, it becomes a hot point. Lots of literatures are about reconstruction theory, reconstruction motives, reconstruction modes, reconstruction performance, but no one is a bout the relation between reconstruction motives and its performance. This paper takes those companies in Shenzhen Exchange reconstructed in 1999 as study samples, groups them on its reconstruction motive and analyzes their reconstruction performance by financial data before and after reconstruction. It is pointed out that the relation between reconstruction motives and performance.