Research On Financing Problems Of TBEA

Capital is an important material condition for maintaining the survival and development of an enterprise.Raising funds is the beginning of the operation of corporate capital,which affects whether the strategic goals of the enterprise can be achieved.Therefore,how to grasp the financing activities of enterprises has become one of the most important issues facing enterprise management.TBEA is the first listed company in China's transformer industry.Its transformer production capacity exceeds 100 million kVA,ranking first in the world.It is a comprehensive energy company with power transmission and transformation as its main business and photovoltaic industry and coal industry as its sideline business.How should such a company do a good job in financing management?This thesis takes TBEA as the research object,in order to discover the problems of TBEA in financing and propose solutions,based on the theory of capital structure and the theory of enterprise life cycle,with its publicly released financial report as the data foundation.In the process of analysis,literature analysis,statistical analysis,qualitative analysis and other analytical methods are used to sort out and analyze the financing status of TBEA,from financing scale,financing channels,financing methods,capital structure and business life cycle.Five aspects evaluate and interpret the current status of financing.It is found that the scale of financing of TBEA is growing,the financing channels are more extensive,the financing method is basically the traditional financing method,the proportion of capital structure equity capital is steadily increasing,and the life cycle of the enterprise enters the mature stage.This thesis found that TBEA has the following problems in financing: financing policies that are inconsistent with the life cycle,rising capital costs,debt financing channels,and lack of innovation in financing methods.After further analysis,the reasons for these problems were that the profit growth lost power,the capital structure was too conservative,the local banks were over-reliant,and the innovation power of the enterprises was insufficient.Finally,based on the above analysis results,according to the actual situation of TBEA and the existing financing cases,the solution given in this thesis is to adopt a more matching financing policy,appropriate capital structure adjustment,vigorously develop overseas financing channels,and activate financing innovation..All countermeasures aim to provide reference measures and ideas with certain feasibility,so as to help TBEA solve financing problems and improve financing management,thus helping enterprises to achieve better sustainable development.