The novelty of this paper is to develop a hybrid optimization approach that combines MIP, GA and SA to deal with the corporate asset reorganization under the Chinese SOE reform. Asset reorganization is an important tool to maximize the value of enterprises and resources allocation, so that market reflects the potential competitiveness. In view of the complexity and multi-constraints of SOE asset restructuring, an optimization model is established for maximizing the total corporate value. The model takes into account restrictions as asset size, industrial importance for the country, norms regulations and funds availability. To address it, a hybrid MIP–GA–SA model is presented which combines exploration ability (of GA) and exploitation power (of SA). The results of the case studies show that the proposed framework can achieve remarkable performance improvements and has greater rationality in reorganization decision making than the traditional single-algorithm methods. Findings Assets’ composition, industry relatedness and core asset security are confirmed to significantly impact value creation. This study offers a reliable decision-oriented tool that can be effectively used in SOE financing restructuring aimed at making high-quality and sustainable development.