Research On The Financing Capacity Promotion Of The SXMX Group

By the end of 2015,the Central Committee determined to carry out the supply-side structural reform.The first task is to cut excessive industrial capacity.In early 2016,the State Council issued the views to deal with overcapacities of coal.In this new situation,the coal enterprise is starting to transform and upgrade,integrate and innovate of t echnologic.T he coal enterprises have been affected by the macroscopical policy of overcapacity,which has fallen significantly in performance,and deteriorated in the credit environment,some banks have started to take contraction or withdrawal of credit policy in coal enterprises,which is even worse in the plight of coal enterprises.The SXMX Group is equal to one of the modern large-scale coal enterprises,as a set of coal production,marketing,processing and conversion,and coal chemical industry.After the resource assortment and reorganization in 2009,the enterprise will need to fund a large amount of funds with the rapid development of enterprise,expanding the scale of operations,increasing investment in infrastructure,Financing problem has become an important problem restricting the development of coal enterprises.How to improve the financing environment of coal enterprises,to enhance the ability of corporate finance,has become an important task for the development of enterprises.Under this background,this paper selects the SXMX Group as the research object,guided by the theory of financing structure theory and financing ability theory,based on the field investigation from the financing channels and financing present situation of the SXMX Group,and by using the financial data,combining quantitative and qualitative analysis ways,analysis the situation of the S XM X Group financi ng capacity from the financing aspects through the Z value model and non-financing aspects,so as to draw a conclu sion the SXMX Group financing capacity is low,and the main reason is: the change of national policy,disharmony of the relationship between banks and enterprises,low profitability,weak in anti risk ability and unreasonable in capital structure.Last according to the situation and reasons of the low financing capacity of the SXMX Group,put forward four countermeasures: optimiz ing the ext erna l fi na nci ng envir onment,i mpr ov ing the pr ofita bil it y of t he ent er pri se,enhancing the anti risk ability of enterprise s and optimizing the capital structure.In summary,this research not only contribute s to promote the financing ability of domestic coal enterprises,also provides decision-making basis for the government in the reform of the coal enterprise,and provides reference for the banks and other financial institutions with the cooperation of coal enterprises.T herefore,this study has a certain theoretical and practical significance to improve the financing ability include the government,the bank and the enterpr ise itself.