Discussion On The Financing Mode Of HT Company

The modern enterprise management on financial management as the center,and financial management is the core of financial management,from the process of capital operation,is in the "raise-Investment-recovery distribution" play the effect of circular motion,produce value-added.Financing is the first step of the capital operation of the enterprise,the modern enterprise has more extensive financing way and channel under the condition of market economy.Enterprise to achieve its strategic goals and maximize the value of the market,need in some financing risk constraint conditions,through scientific and effective financing strategy makes the lowest cost of financing.How to expand the financing channels? How to improve financing efficiency? How to guarantee the lowest financing cost? How to establish a financing strategy that matches the growth of the company and the strategy of future development? These are important questions in corporate financing decisions.HT company is located in Wuxi high tech Zone Comprehensive Bonded Zone,which the industry of semiconductor memory products(DREAM)process service,customers only for South Korea SK Hynix(strain)and society,also the second largest shareholder of the company.DREAM has formed the oligopoly market situation,SK Hynix has become one of the three giant in the industry,all products are SK and HT in both underwriting Hynix,clearing "full cost + fixed return + bonus","full cost" are not included in the cost of financing and tax,so capital management is one of the core HT financial work.In view of the fundamentals of HT company,the author summarizes the financing theories at home and abroad on the company's financing situation,analyze the existing problems and the reasons,mainly through the SWOT factor method on corporate financing environment and the impact of corporate financing strategy analysis is analyzed,according to the actual situation of the company to formulate the company's financing principle,from the three dimensions of the company should take the financialThe choice of financing strategy:(1)in the choice of financing strategy based on the characteristics of financing strategy,HT company is more suitable to adopt the appropriate financing strategy.(2)in the optimization of the financing strategy of capital structure based on the HT stage the company should adopt the "endogenous financing and debt financing",while investment in the second production line should adopt the "debt + equity financing way.(3)in the selection based on the financing strategy,the company should further broaden the financing channels,based on the existing financing mode,to improve the internal financing,try to export processing zone RMB financing,and the use of capital market financing.Finally,the overall financing strategy in line with the company's strategic development: comprehensive broaden the financing channels,to fully consider the risk on the basis of the length of the combination of equity financing and debt financing,internal financing and external financing with the lowest cost financing construction to meet the company's needs financing combination".In this process,the author also attempts to study the following problems:(1)the comprehensive bonded area in this special regulatory region of enterprises in the absence of RMB income sources can also be the case of RMB financing.(2)companies such as HT should be aware of the size of the Internet and financial docking.(3)better use of capital markets for financing.I hope this paper can help HT company to implement the scientific development strategy and financing strategy,and also hope to provide some reference for other similar enterprises.