| At present,China's economy has entered a new normal period.Since the end of 2016,the Chinese government has actively promoted the deleveraging policy,and the structural adjustment policy has been continuously introduced.The debt credit risk of private enterprises is accelerating.On May 2,2018,Zhejiang Dunan Holding Group(hereinafter referred to as the Dunan Group)was asked for help from the Zhejiang Provincial Government due to a 45 billion debt crisis.Before the debt crisis of Dunan Group,it was a private R&D and manufacturing enterprise with strong brand and market influence in Zhejiang Province.However,in the past five years,Dunan Group has paid too much attention to its unrelated diversified development.The advantages are constantly declining,and the problem of insufficient funds of enterprises has become more serious.Taking the debt crisis of Dunan Group as a case,this paper uses case analysis and literature research to explore and study the causes of corporate debt crisis and summarize the countermeasures against debt crisis.First,an overview of the relevant theories of diversification and corporate corporate debt.Secondly,it reviews the debt crisis of Dunan Group.Then comprehensive analysis of the analysis method to the shield's diversified business philosophy,financing methods and debt maturity structure,performance,business operations and management and other aspects into an in-depth analysis,revealing the real cause of the debt crisis of Dunan Group.Finally,on this basis,the paper concludes that enterprises must strive to develop their main business and improve their core competitiveness;be cautiously diversified and play a synergistic role;at the same time,enterprises should pay attention to debt management,improve corporate governance structure and attach importance to the interpretation of government policies.This paper also hopes to provide some reference and reference for private enterprises with similar development through this case study. |
PDF Full Text Request