Reasearch On Financing Strategy Of H Water Group Under The Integration Of Water Affairs

Enterprise development and scale expansion can not be separated from the support of funds, corporate finance has become the core content of corporate strategy development. In recent years, with the continuous improvement of China’s investment and financing system reform deepening and capital market, water supply enterprise depends not only on the financial bank loans, slowly began to adopt equity financing, stock system reform for the financing of listed companies, large equipment, such as the lease financing, the introduction of strategic investors, and social capital cooperation, BOT, the issuance of corporate bonds, the high-quality assets of the asset securitization, in cooperation with the fund companies to set up urban infrastructure fund and so on.In this paper, the financing strategy of H water group is studied, and the research methods of literature research, practice research, case analysis and theory with practice are used in this paper. This paper is divided into four chapters. The first chapter is the introduction, which introduces the background and significance of this paper, domestic and foreign research status and review, research ideas and framework of this paper. The second chapter is the theoretical basis of this paper, which is based on the theory of public goods and corporate finance. Chapter three is of H water group financing environment and the status quo are analyzed in detail, the main analysis of the h water group situation, financing environment, financing needs, demand for funds, financial status and existing main financing problems. Through the concrete analysis of the previous chapters, the combination of theory with the actual situation of H Eaux, finally to h des Eaux design which suit for the group of the current status of the financing strategy, and puts forward financing strategy of specific safeguard measures.The conclusion of the case are as follows:first of all, this paper under the guidance of the public goods theory and financing theory, combined with the development of the integration of water, carries on the analysis from the overview of H Eaux, financing environment, financing needs, demand for funds, financial condition and other aspects, analyzes the group’s financing problems:the high rate of assets and liabilities, collateral is limited, the price of water is low, single financing channel, the financing structure is irrational, internal financing ability lack of. Then design a h water group financing strategy:establish the special finance group, general manager responsibility system, on financing strategy setting, tracking, feedback and adjustment; endogenous and exogenous financing used together, at the same time; exogenous financing turn follow the ways of financing economy, raising timely and reasonable financing structure principle to determine the way of external financing.:internal financing, mainly rely on retained earnings financing and financing tactics of internal shareholders absorption; exogenous financing, to use bank loans replacement strategy, then used to introduce strategic investor. Finally, urban construction fund of PPP project financing. Finally, from four aspects of the establishment of the financial evaluation system, the establishment of a scientific financing decision system, financial security and human resources security, this paper puts forward the specific measures.