The Value Creation Based On Industrial Fund Investment:A Case Study Of Company A

During the upgrading and transformation of manufacturing industry,the central government of China has earmarked energy-saving and environmental protection technology,information technology,biology technology,high-end equipment,new energy,new materials and new energy vehicles,as the seven emerging industries of strategic importance in China.These industries,however,are facing difficulties to pass the access examination of traditional financing means such as bank loans,due to the threshold of real collateral.As the development of emerging industries is inseparable from the support of capital market,more and more enterprises are seeking fund investment to promote development.At the same time,the industrial funds,which are under guidance of national strategy,showed enthusiasm on these enterprises.Therefore,how to create value under the investment of industrial fund? How to achieve the expected effect? It is worth further study and discussion.Based on the information asymmetry theory,contract theory and symbiosis theory,combined with the development of industrial fund and industry,this paper,based on the statistical data of companies,industries and listed companies from 2015 to 2018,uses the literature research method,case analysis method and comparative research method to explore the development path,opportunities and challenges of biotechnology a company under the investment of industrial fund.Case analysis combines the internal and external environment,industry characteristics,policies and regulations,financial data to analyze the current situation of company a,and evaluate the enterprise value creation under the industrial fund investment.Especially in the increasingly strict state of policies and regulations,the company uses the resource relationship of industrial funds to create its economic value,strategic value and market value.The main conclusions of this paper are as follows: first,the companies invested by industrial funds solve the capital gap of product line extension,and second,optimize the corporate governance structure and operation system.Secondly,the integration of the company’s strategic objectives in the field of life and health and the industrial funds under the background of SASAC has achieved the consistency of strategic objectives and complementarity of resources.Third,the financial performance shows a good result,market value and net have a good growth,behind the performance growth shows mutual support and operating efficiency.After the investment of industrial funds,the economic value,strategic value and market value of the company are improved.Fourth,compared with the listed companies in the same industry,the operating efficiency of the company needs further improvement,and there is still room for progress in value creation.Through the analysis of this typical case,it has certain reference significance for the development of other industry fund investment,and also has certain practical significance for other listed companies and small and medium-sized enterprises with financing needs.