Research On Financial Strategic Decision Of SMIC’s Return To Science And Innovation Board

With the development of 5G era,new energy vehicles and consumer electronics products,the high-tech industry has shown a good trend of development.The market of high-tech industries in Chinese mainland is also increasing.The government began to guide and promote the high-tech industry to become a strategic industry,and the technological innovation ability will also become the core competitiveness to promote the development of enterprises.At the same time,a series of measures of the Sino US trade war and the listing policy of the science and innovation board,for the semiconductor industry,at this time,most high-tech enterprises are in the current situation of growth,high growth and high risk,and the development of high-tech enterprises at this time is both opportunities and challenges.These high-tech enterprises are facing the challenges brought by the internal and external environment.Despite the implementation of the financial strategy,there are still some common problems.Therefore,it is necessary to make a corresponding discussion on their financial strategy.In this increasingly complex environment,if enterprises want to further optimize and upgrade their technological innovation ability,they need a lot of capital investment to ensure the cash liquidity of enterprises,which requires enterprises to have good financing channels and financing ability.At this time,good financial strategic planning has become an important guarantee for the future financing mode of enterprises.Generally speaking,the financial strategic planning of an enterprise is based on the perspective of enterprise life cycle,using multiple methods to determine the life cycle of the enterprise at this stage,and integrating its internal and external environment,SWOT comprehensive analysis,and specific analysis according to the enterprise’s own situation,so as to make financial strategic decisions,meet the development needs of the enterprise and realize the long-term development strategic objectives of the enterprise.Based on the perspective of enterprise life cycle and taking SMIC international as a case,this thesis analyzes SMIC from the combination of cash flow method,sales curve income method and financial strategy matrix method,determines that SMIC is in the stage of enterprise growth,and then analyzes the financial strategic environment of SMIC’s return to the science and innovation board,including internal and external environment and SWOT,It is concluded that SMIC’s return to the scientific innovation board is based on the specific market and environment of enterprise technological innovation ability,so as to determine the necessity and particularity of SMIC’s return to the scientific innovation board.Finally,it analyzes the financial effect of SMIC’s financial strategy from the perspectives of company value and shareholder value,Finally,according to the key points of SMIC to ensure the realization of its financial strategic objectives,this thesis draws a conclusion: the analysis of internal and external environment is the premise of financial strategic decision-making,the analysis of risk capability in SWOT is the scientific and reasonable guarantee of financial strategy,the reasonable selection of financing mode is the key factor for the success of financial strategic decision-making,and the ability of technological R ＆ D and innovation is of great significance to the evaluation of financial strategy.In addition,based on the perspective of enterprise life cycle,this thesis studies the financial strategy of SMIC’s delisting from the New York market and returning to the Ashare science and innovation board.This study enriches the case study of the financial strategy of Listed Companies in high-tech industry from the perspective of life cycle,and helps to provide reference for the financial strategy of SMIC and its similar high-tech enterprises who want to return to the science and innovation board and have great capital demand.