Analysis On Abundant Cash Management Of Non-loan Listed Companies In China

A company is required to earn the benefit by using fund rationally and effectively, it is one of the basic requirement of finance management. Achieving the company shareholder value maximize is the ultimate aim of finance management. There are many research of financing, investment and dividend allotment at present. Research of finance crisis aroused by lacking fund is also quite a few. But, there is not many research of abundant cash management and few literature of abundant cash data analysis for public company. Cash is one of the finance management object, and manages the business of an enterprise to circulate and revolve. It is closely linked with every portion of finance management. Thereby enhancing the cash management of the enterprise is very important not only in finance management but also in operation and development.According to finance reports, the paper analyzes the common finance character of the listed company in our country that have no any loan between 2004 and 2006, and analyzes the condition of cash holding for sample company through some indices, such as return on currency, return on equity, return on asset etc. The author contrasts cash holding motive between domestic and international company, discovering low benefit in cash management exists in listed company. There are three outstanding issues that ignore cash management, ability in short-term investment is weak and ability in bonus payment is strong, but percentage of dividend payment is not steady.This also reflect the issue how to manage the cash and increase benefit. This paper analyzes the finance data, bring forward a few valid method of application that can be choose, namely, makes use of different term deposit, bond purchase, Initial Public Offerings purchase, fund purchase, merger and acquisition.Zhengzhou Yutong Bus Co., LTD is better in cash management. This paper takes Yutong as an example, emphasizing to analyze IPO purchase, fund purchase etc. Yutong profits by making use of currency and also provides reference for numerous listed companies in cash management.