Research On Countermeasures For Improving Financial Competitiveness Of Glass Fiber Industry

The Chinese government has issued "Made in China 2025" and other digital economy-related policies to guide the transformation of manufacturing enterprises,which provides more possibilities for the improvement of their financial competitiveness.The new round of global scientific and technological revolution and the accelerated evolution of industrial transformation have intensified the competition within the glass fiber industry.Whether the financial competitiveness can be improved is related to the life and death of the glass fiber industry.However,there are still many glass fiber manufacturing enterprises in China facing the practical problems of whether and how to transform.While other glass fiber manufacturing enterprises are still exploring intelligent manufacturing,China Jushi seized the opportunity of intelligent manufacturing,realized the intellectualization of the whole production and operation process,and led the transformation and upgrading of the glass fiber industry.In this environment,through the successful experience of China Jushi’s transformation,we can make clear the transformation direction of glass fiber industry and other manufacturing enterprises,and put forward countermeasures for glass fiber enterprises to enhance their financial competitiveness and realize high-quality and sustainable development.This study uses the method of literature research to sort out the domestic and foreign scholars’ research on digital transformation and financial competitiveness of enterprises,and thinks that the current research has not made clear its influence path;In the case description part,the paper uses case study method to sort out the digital transformation process of China Jushi,and refines the effective measures of case enterprises.By 2021,the digitalization of China Jushi has been embedded in the whole process;In the case analysis part,firstly,using the most scientific grounded theoretical paradigm in qualitative analysis,this paper analyzes the influence mechanism of China Jushi’s digital transformation on financial competitiveness,and holds that digital transformation saves costs by improving innovation ability,improves profitability by improving product quality and production efficiency,and improves operational ability by precise management and marketing,and through the improvement of these comprehensive abilities,enterprises gain better growth,and then enhance financial competitiveness;Secondly,using the quantitative analysis method,through the financial indicators and factor analysis from 2011 to2021,combined with the transformation process of China Jushi,this paper makes a vertical and horizontal comparative analysis of the financial competitiveness of China Jushi before and after the transformation,and draws a conclusion that the technological innovation and management optimization brought by the digital transformation of China Jushi have affected various financial indicators,thus enhancing the financial competitiveness of enterprises.Based on the above analysis,this study puts forward some countermeasures to improve the financial competitiveness of enterprises from the aspects of company strategy,innovation ability,solvency and the use of information data.The digital transformation of glass fiber enterprises can learn from the experience of China Jushi in the process of digital transformation.This study links the improvement of China Jushi’s financial competitiveness with its digital transformation,and innovates in thinking;Adopt the research method of combining qualitative and quantitative methodss,we strive to be comprehensive and accurate,and have certain innovation in research methods.However,as far as a single case study is concerned,the conclusions drawn in this paper are one-sided and lack of large sample empirical verification.I hope to study more cases in the future and continuously improve the existing research results.