The Research On Financing Scheme Selection Of Hui Kang Co., Ltd

Financing is not only the beginning of the capital movement,but also the basis of the allocation of the revenues.The enough capital scale can assure the investment in business enterprise,the reasonable capital construction can reduce and avoid financing risk[1]. If we match the financing methods reasonably,we can reduce the capital cost. But in the nearly years, the problem that annoys the enterprise is the shortage of capital. Every firm gets capital through itself accumulation or narrow financing ways-lending money from bank is obligation financing. this financing ways not only get inefficient but also raise company's cost and risk. For managing capital, lowering financing cost, preventing financing risk and raising benefit, the dissertation provides financing theory based through analyzing. so the financing study of Hui Kang company will has positive significance to our private enterprise's.This paper aims at financing way of the New-techno project of Hui Kang co., ltd. Starting with the background of the developed countries in the world, Then contrasting the same financing program in China . At the same time, by introducing the condition and surrounding of company, the R&D methods of products, the ways of R&D management, fore financing program and present demanding capital scale,we can summarize the advantages and problems in the financing progress of firm. Next, I make a project financial analysis with economic and quantitative method, the total sum of financing is 23 million yuan, the internal rate of return is 30.06%, the profit and tax investment ratio is 45.65%, the payback period is 5.7 years. These datum can be shown that the project is with higher returning of investment and shorter payback period. In this dissertation, by analyzing the financing way and combination mode condition of Hui Kang company,putting forward a few kinds of financing projects, and taking into account of the risk factor and using synthesis financing cost rate method ,we can select the satisfied financing Schemes. Finally, I will use AHP to carry on comparative analysis to the above three kinds of project, thus we will draw the optimum project. From AHP, we draw on the optimum project is combining financing project. we can see that the financing project of Hui Kang company is composed by initial financing and external financing. the proportion of initial financing is 35%,external financing is 65%,while in external financing,loan accounts for 39%, Equity financing accounts for 26%. The financing scheme changed the single financing structure of Hui Kang company, Moreover, the financing project can make the risk equilibrium,it gain the advantage for the enterprise in financing cost, and it is more reasonable on arranging using fund, so it makes financing optimization.In order to ensure the financing scheme to carry out successfully, H.K company should enhance the financing capacity and make the financing environment better by pushing for innovations constantly,enhancing the core competence, grasping the best borrowing time and adjusting the financing methods neatly.