In the Internet era, the cross-border integration of virtual economy and real economy in enterprises is becoming more and more common. Based on micro-blog’s “Internet plus” platform, this paper examines the impact of new product information released by micro-blog on the operation efficiency and business performance of listed companies. The empirical study on the matching samples after PSM shows that the new product information disclosure on micro-blog is conducive to the shortening of cash cycle and the improvement of inventory turnover in the future. After introducing the life cycle theory, we find that this effect is particularly significant in the recession period. The results of using the exogenous variable of urban Internet development level as a tool variable are still in line with expectations. In order to exclude the impact of new product information disclosure in the annual report and other channels, this paper further tests and finds that, compared with new product information disclosure only in the annual report, new product disclosure in the annual report and self-media platform improves inventory turnover and cash cycle more significantly. Further analysis shows that when enterprises are faced with higher financing constraints, worse technical strength and more fierce competition environment, they have stronger motivation to use the self-media platform to improve their operating efficiency. For self-media, “whether to disclose new product information” and “the number and frequency of disclosure” will more significantly improve the inventory turnover of listed companies and reduce their cash flow. Moreover, when the traffic effect is stronger, self-media publishing new product information can more effectively improve the operation efficiency of enterprises, so as to help enterprises counter attack. Continuing to expand the economic consequences of the implementation of “Internet plus” from the media platform to the business performance of enterprises, it is found that enterprises in recession have released the new product information from the media, which is the most obvious in enhancing their future performance. Therefore, self-media’s new product information disclosure provides a new channel for enterprises in recession to turn around their difficulties and obtain new profit growth points.

This paper not only expands the research boundary of “Internet plus” from self-media, but also studies the channels that enterprises use self-media information disclosure to improve corporate performance by focusing on the “Internet plus” mode of self-media. This not only provides practical and effective ideas for enterprises facing difficulties to seek development and leap forward, but also provides new micro evidence for the strategic significance of the deep integration of digital economy and real economy proposed by the Chinese government and the “Internet plus” action plan to improve the quality and efficiency of enterprises and promote economic transformation and upgrading. The policy significance is that, in the process of implementing digital economy and real economy convergence and “Internet plus” action, the government and regulators should encourage listed companies to actively use their own media to seek their own breakthrough, so as to achieve the goal of “counterattack” and industrial upgrading of their own businesses.