Study On Capital Operation Path Of Kunwu Jiuding Investment Holdings Co.,Ltd

In order to have a long-term and healthy development,an enterprise must develop an enterprise strategy which is suitable for the development of the enterprise.All operations and management activities of the enterprise must be served and subject to this enterprise strategy.As the senior management activity of the enterprise,capital operation plays an important role in the realization of enterprise strategy.The enterprise strategy indicates the direction of capital operation,and capital operation is an important means to realize enterprise strategy and can accelerate the realization of the enterprise strategy.This paper selects Kunwu Jiuding Investment Holdings Co.,Ltd(Abbreviation:JD Capital)as a case study object.By utilizing theories of enterprise strategy,capital operation and market management,the author analyses and expounds a series of capital operation and its effect which is under the guidance of the enterprise strategy.In order to realize the strategic goal of domestic first-class investment and asset management,JD Capital has established an expanding enterprise strategy,which enables the enterprise from single business to diversify.To achieve the corporate strategy,JD Capital has done a series of capital operations in the three years from 2014 to 2016.JD Capital successively has done private placements,mergers and acquisitions and indirect listing of the PE service,which have led to a coherent path of capital operations.By introducing and analyzing the causes,methods and characteristics of capital operation,this paper presents the complete path of the capital operation of JD Capital.Through short-term market performance and long-term financial performance of the indirect listing of the PE service,combining with the evaluation of market value management framework to track the effect of the capital operation of JD Capital from 2013 to 2016,which suggest that capital operation is successful and is worthy of reference for other enterprises.From the analysis of the capital operation path of JD Capital,it is concluded that the following 6 suggestions:Companies must formulate clear corporate strategies to guide their capital operations.Enterprises need to have good corporate governance.The enterprise should choose the appropriate capital operation mode and grasp its time.Corporations should take advantage of national policies to achieve capital operations.Enterprises should have good cooperative relations with the government.Last but not least,all of the capital operation of companies should comply with relevant national laws and regulations.