Research On Financing Strategy Of Chinese High-tech Small And Medium-sized Enterprises

In recent years, as the growth of China’s scientific strength and technologicalinnovation ability, high-tech industry in our country has made high-speeddevelopment, in this context, a growing number of small and medium-sized high-techenterprises have emerged. These enterprises in our national economy are playingmore and more important roles. For small and medium-sized high-tech enterprises,they play dual characteristics of both high-tech enterprises and small andmedium-sized enterprises. It is natural for them to face more challenges in theirdevelopment and growth process and financing is one of center of attention. Therefore,this paper chose the financing strategy of Chinese high-tech small and medium-sizedenterprises as a research subject.Firstly, research background, significance, methods, contents and the latestresearch viewpoint at home and abroad are summarized. Then in theoretical part, thispaper introduces the meaning of high-tech small and medium-sized enterprises, andmake detailed narration in the capital structure theory and financial growth cycletheory that has been applied.And then, the paper gives a introduction of present situation of Chinese high-techindustries and its influence to high-tech small and medium-sized enterprise financingfrom four aspects. Next, this paper describes financing ways of Chinese high-techsmall and medium-sized enterprise in details, especially the financing strategy ofenterprise financial growth cycle in different stages. On the case part, taking theGeeya Technology Co.,Ltd. as an example, after summarizes Geeya TechnologyCo.,Ltd background, a detailed analysis of its financing strategy of financial growthcycle in different stages is applied. Finally, this paper puts forward a series ofproposals on the country’s high-tech small and medium-sized enterprises financing, expecting to be helpful for enterprises’high efficiency in financing and better growthand development.