Study On Development Strategy Of Capital Operation In Zhuzhou Times New Material Technology Co.,ltd.

Since the reform and open policy and since joining into WTO, China hasdeveloped rapidly. It has witnessed the accelerated pace of the Chinese corporationsin the economic globalization, the blossom of various high-end industries, such asautomobile, railway, electricity, engineering machinery, military and watercraft, andthe development of the non-metal part suppliers for these leading industries. Duringthis period, many Chinese corporations become more and more international, whilesome foreign leading companies are entering the Chinese market. So, all the Chinesecompanies are under the pressure of “internalization”. Besides, they are facing theimpact by the financial crisis in these years. Therefore, most of companies areconsidering how to adjust the industrial structure, how to promote the industrialupgrading and how to change the way of growth to improve the competitiveness in theworld and realize the sustainable development of a corporation. In a word, theChinese corporations are at a stage of strategic reconstruction which aims tostrengthen their core competitiveness.What is more, with the mechanism improvement of the market and theintensiveness of the competition, the traditional way of growth is not effective.Therefore, the only resolution a corporation could adopt is to optimize and integrateall the resources, such as products, technology, trademark, strategy, service andculture. Undoubtedly, Zhuzhou Times New Material Technology Co. Ltd.(briefed asTMT), as a member of them, has achieved a lot and accumulated rich experiences incapital operation. This paper aims to probe into the capital operation strategy of thestate-owned listed company and the way to improve the integration capacity, gain thecompetitive edge and realize the sustainable development through analysis of thehistory of TMT.This paper, at first, elaborates the definition of capital operation, and thenanalyzes the micro-environment and industrial environment TMT has been inoperating capital through description of the current situation and trend in this field byuse of the corporate strategic management theory. It not only proposed the idea,object, method and strategy in capital operation using the theory of capital operationand focusing on TMT’s strength, weakness, opportunity and threat, but also pointedout that TMT should take advantage of its platform in capital raising, conducting capital operation by centering on the “concentric diversification” to improve the corecompetitiveness during the process. Besides, TMT should stabilize the base of thecapital operation and mitigate the management risk, while aim to be “a company withwell-known worldwide brand and leading capability in the application of polymercomposite modified material”.