Research On Capital Structure Optimization Of Yiheng Biology

At present,China has put forward new development requirements,which require the market to lead and create new demand driven by innovation and high-quality supply.The overall trend of the pharmaceutical industry has changed with the implementation of policies such as "two ticket system",centralized purchase with quantity and medical insurance payment.As a sub industry of the pharmaceutical industry,the pharmaceutical business presents a new pattern of active innovation,accelerated differentiation of advantages and disadvantages and improved concentration.In order to increase the adaptability of supply and demand,pharmaceutical commercial enterprises need to improve their core competitiveness,accelerate transformation and promote innovation.Pharmaceutical businesses generally have the characteristics of large investment in new drug R & D,long payment collection cycle,large capital demand and so on.Therefore,enterprises in the industry need to scientifically play the role of financial leverage,reduce financing costs and optimize capital structure in order to meet the challenges brought by the external environment.Based on the relevant research status at home and abroad,this paper selects Yiheng Biological Engineering Co.,Ltd.as the research object.By combing the company’s operation and financial status,and studying its capital structure from the four aspects of debt,equity,financing and capital cost,it is found that its capital structure has the following problems: high debt level,unbalanced debt structure,excessive concentration of equity and unreasonable financing structure.In view of the above problems,through the cause analysis,this paper puts forward the corresponding capital structure optimization scheme.The optimization method in this paper is a combination of static optimization and dynamic optimization,that is,firstly,the static optimization model of capital structure is used to calculate the optimal debt level of Yiheng biological,and on this basis,qualitative and quantitative analysis is carried out,including qualitative analysis of the internal and external influencing factors of Yiheng biological capital structure,judgment of its influence direction,and quantitative analysis of the impact of internal and external factors on its capital structure by using entropy weight method,Based on the above results and industry conditions,appropriate adjustments are made to determine the optimization range of capital structure.Furthermore,based on the research results,this paper puts forward specific optimization approaches from five aspects: controlling debt level,adjusting debt structure,optimizing equity structure,enriching financing methods and innovating strategic layout.Finally,this paper predicts the implementation effect of the scheme,and puts forward relevant safeguard measures to provide effective reference for the capital structure optimization of Yiheng biological and pharmaceutical enterprises,so as to promote the long-term and healthy development of Yiheng biological and its industry.