| Military industry is the symbol and material base of the strength of the national defence of a country. In order to ensure continuing follow-up of technical research and development, it requires abundant capital input in the area of military research and development, armament manufacturing and production cost, but on one hand due to limit of outlay that the government put in military industry, and on the other hand the ability of self-accumulation and sustainable development of arms enterprise group is weak. So inconsistency exists between supply and demand of capital, especially in some local area. If arms enterprise group company in our country in our country wants to speed up development, reduce the gap to the international top-grade arms enterprise, besides policy support and technology innovation, it should also be on the basis of the original government investment and bank loans, further widen the source of investment and financing source, make the best of capital market, take the listed company as the platform to proceed capital operation, attract social capital and guide investment direction. Multiple source investment and financing, especially making the best of capital market, can reduce investment and financing cost to a great extent, optimize investment and financing structure, improve investment and financing benefit, and supply solid and strong foundation for the development of arms enterprise group company.Arms enterprise holds high-grade technology in area in the country, and gives strong atractive effort to the development of high and new technology in other industries. There are a lot of labor powder and resource in design, research and development, manufacturing in military industry. If it can be used in civilian application, it can bring benefit to civilian and meanwhile it can accumulate more resource and human wealth for arms enterprise, form itself into virtuous circle of scientific and sustainable development, realize development of arms enterprise and civilians together.This article takes CAC as example, research that taking the listed company as the platform as capital operation, forge a mode in adaptation to development of Military&Civilian Products inosculation in our country, so that the military industry enterprise in our country not only can provide a guarantee to the military strategy of the country, but also can provide support to economic construction for the country, to achieve "powder army corps and enrich people", make military industrial enterprise bigger and stronger, and become great exploit in kilo-annum.There are seven chapters in total in this article; the main content of each chapter is as follows:Chapter one is introduction. First state research background, start from the government and military latest requirement in development of Military&Civilian Products inosculation as well as the self-development demand of military industrial enterprise, state the purpose of this article and research significance, then introduce the way of think and frame of the research in this article, and finally generally introduce the method used in the research in this article.Chapter two is reviewing of the development of military enterprises at home and abroad of capital operations and civil-military integration. Conclude and summarized general situation in development of capital operation as well as development of Military&Civilian Products inosculation in domestic and overseas military industrial enterprise form collection related bibliographic information.Chapter three is the effective way of capital operation is the military industrial enterprises to implement the development of civil-military integration. First defined and evaluated the important conceptual theory that appears in this article, and state the application significance and premise of these theories.Chapter four is the operational implementation of the use of the capital development of preparatory civil-military integration in CAC. Expatiate on each fields such as the need of CAC development, the change of out-source market, the requirement of strategic management after group consolidation to analyze the necessary and feasibility of the capital operation in CAC.Analyzed the situation fore-and-aft the capital operation based on the listed companies as the main body in CAC, defined the implement principal of capital operation in CAC and confirmed the target of capital operation as well as the method.Chapter five is implement use of capital operation preparatory military and civilian integration development in CAC. Elaborated CFJC listed, the investment Anhui Rui Hu, integration SHF, ZHLD and a series of mergers and acquisitions in the process of capital operation, difficulty and the main solution.Chapter six is the the implementation of the results obtained in the development of civil-military integration through capital operation in CAC. Expatiate on listed CITC, investment of AnHui CTC-CH, merger of China Aviation Lithium Company, purchase of TJ Innovate Engineering&Technology Company, consolidation of Shanghai Engine and other seriers capital operation on process, difficulties and main solution. The implementary effect of capital operation in CAC based on above listed companies. Explained the society benefit, economical benefit in CAC after it implemented the capital operation mode based on above listed companies, as well as the advantaged improvement gained from the development of Military&Civilian Products inosculation.Chapter seven is the military enterprise capital operation on the implementation of the use of military and civilian integration development proposals. Analyzed the insufficiency on development of Military&Civilian Products inosculation improved by current capital operation and offered the improve suggestion.There are two main contributions the assay contains:It combines the capital operation mode based on listed companies as main platform with the development of Military&Civilian Products inosculation that offer a valuable reference to Chinese military industrial enterprise in development of civil-military. |
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