Research On Mature Financial Strategy Optimization Of H Company

As satellite application has been included into China’s strategic emerging industries in the "14th Five-Year Plan" national development Plan for strategic emerging industries,China’s satellite industry has developed rapidly under the background of the rapid development of international and domestic commercial spacet.H Company is a medium-sized state-owned enterprise whose main business is satellite application.In recent years,it has achieved good results in operation and made outstanding contributions to the development of satellite application industry in Heilongjiang Province.Based on the life cycle theory,this paper analyzes the financial strategy of H company,which is not only a vertical extension of the financial strategy theory and the life cycle theory,but also helpful for horizontal exploration of various problems existing in the financial strategy of H company.Equally important,the improvement suggestions studied in this paper not only represent important suggestions for the financial strategy of H company,but also help other enterprises to make scientific strategies.Through the study of H company financial strategy,first of all can evaluate H company current financial strategic environment,at the same time for the H company the current financial strategy improvement space,at the same time,also can summarize H company useful experience in financial strategy,for similar medium-sized technology enterprises can be suggested for reference.After sorting out the relevant literature at home and abroad,this paper analyzes the characteristics of the different stages of the enterprise life cycle and the relevant financial strategy measures.While providing the basis for the development of enterprises,we must combine the life cycle theory with the enterprise financial strategy.This paper defines the life cycle of enterprises first in the combination of the two.Here,this paper takes the cash flow group to legally determine the direction of cash flow in recent years,and adopts the sales revenue trend method.Both methods can determine that H company is in the mature stage,which can help financial managers to better grasp the different life cycle stages and characteristics of the enterprise.Based on a detailed analysis of the strategic environment of H Company,the following questions are obtained:(1)H Company’s financing strategy is highly dependent on equity investment,which is completely based on equity financing and neglects the use of operating leverage.(2)H company ignores external investment and only invests in fixed assets,intangible assets and research and development costs,resulting in low efficiency.(3)Company H has problems in profit distribution,such as lack of perfect dividend distribution policy,too high cash dividend and simple way of profit distribution.In view of the problems encountered by H Company in financing,investment and profit distribution,this paper proposes that in order to reduce the possible financial risks of the enterprise,long-term borrowing and current liabilities can be combined from the perspective of financing.In terms of investment,H company should improve its investment evaluation in order to improve its return on investment,its ability to continuously innovate and find various profit points under the general trend of travel industry.In the aspect of profit distribution,in order to guarantee the long-term development of enterprises,enterprises should combine their own capital needs with external market competition,and formulate dividend distribution policies that meet the requirements of enterprises.Finally,this paper puts forward four safeguard measures to strengthen the information construction,establish the long-term and effective incentive mechanism,improve the enterprise internal control system and specify the risk prevention mechanism to help optimize the enterprise strategy.