Research On Muyuan’s Investment And Financing Strategy Based On The Perspective Of The Whole Industry Chain

During the 14 th Five Year Plan period,China’s "three rural" work entered a new journey.The national top-level design requires promoting rural revitalization.In order to realize China’s rural agricultural modernization as soon as possible,the state issued the opinions on comprehensively promoting rural revitalization and accelerating agricultural and rural modernization,pointing out that the overall development trend of China’s pig industry is good,The following suggestions are put forward for China’s pig breeding enterprises: in the future development,we should change to long-term and healthy development,we can no longer pursue short-term production capacity recovery,and the whole pig industry should speed up the construction of modern breeding system.At present,China’s traditional pig industry is actively changing to modernization,scale and intelligence.Therefore,large pig farmers must think about how to layout the breeding industry chain from the strategic level.For these enterprises,financial strategy and development strategy are the key to the success or failure of enterprise operation,especially the formulation of investment strategy and financing strategy will affect the efficiency of capital use,enterprise profitability The ability to resist industry cycle risks,the improvement of core competitiveness and the degree of scale expansion.Based on previous research results,combined with capital structure theory,leverage theory,investment and financing strategy theory and performance evaluation theory,from the perspective of the whole industrial chain,this paper selects Muyuan,one of China’s A-share pig breeding leading companies,as the research object.Firstly,it introduces the upstream and downstream,investment and financing strategies of Muyuan’s industrial chain.Secondly,it analyzes the financial effect of the investment strategy and affirms the achievements of the current investment and financing strategy: the large-scale expansion of enterprises is fast,and the production capacity is growing rapidly;The circulation chain within the industry is established rapidly,and the value of chain empowerment is high;The organic composition of capital is high and the operation leverage effect is significant;The concept of environmental protection breeding is new,and the cost of healthy breeding is low;The operating revenue increased significantly and the market share increased rapidly;High profitability.The financial effect of financing strategy: debt financing is the main and the cost is low;The positive effect of financial leverage is significant;Good corporate control;Supply chain financing ensures daily and smooth turnover.It also points out the problems existing in the current investment and financing strategy:（1）the investment strategy is radical and the relevance of life cycle is low.（2）Financing is too dependent on debt,and the financial risk is extremely high.（3）Insufficient coordination of investment and financing.This paper analyzes the main causes including concept,technology and organization management,and then puts forward the objectives,principles,suggestions and guarantee measures of investment and financing strategy optimization according to the problems: first,implement a stable investment strategy and slow down the pace of expansion.Second,improve relevant diversified product groups and resist industry cycle risks.Third,control the scale of borrowing and strive to realize the "high and low" leverage combination.Fourth,integrate the industrial chain and promote the balanced development of all links.Fifth,strengthen the control of investment and financing process and improve coordination.Through research,this paper expects to analyze the investment and financing war of Muyuan Co.,Ltd.from the perspective of the whole industrial chain,provide some theoretical support for the formulation,improvement and optimization of investment strategy and financing strategy in the future,and try to truly integrate the financial strategy into the operation and management of enterprises,so as to help Muyuan Co.,Ltd.and even more listed companies achieve their business objectives.