A Study Of Refinancing Strategy For Optical Fiber Communication Co., Ltd.

Optical Fiber Communication Co., Ltd is a state-owned listing Corporation, one of the pioneers of China communication industry, it was in the front of optical fiber and cable industry, a full competition manufacturing industry. In recent years, as the development of optical communication, seize the opportunity, rapid realization of the strategic target of scale expansion and upgrade of industry, For constraints of state-owned management system and ignore capital market refinancing strategy, OFC missed the opportunity, the scale and industry chain lack of a breakthrough, and the development was slow, gradual declined in market share, at the same time, competitors became more big, OFC face the danger of being marginalized. Now, it is not feasible to catch-up competitors rely on the accumulation, in the current fierce competition of the market. It is an important problem in the development of OFC, How to combine the company’s development strategy, make clear refinancing strategy, to achieve a strategic transformation and optimization of ownership structure.This paper consists of seven chapters.The1th chapter includes research background and analysis framework.The2nd chapter includes refinancing theory, mature theory of foreign and practice characteristics of domestic.The3th chapter is the general introduction of OFC,The4th chapter focuses on the analysis of corporate strategy environment.The5th chapter, analysis the company’s financial statements and the main indicators.The6th chapter includes the necessity of implementation of the refinancing,comparison and choose suitable for company financing tool,making plan and specific it, the positive impact on company,and how to deal with the problem.The7th chapter includes the summary and suggestions.OFS, as a typical sample of holding manufacturing enterprises of stock market in China. By the study of the refinancing strategy,To quickly realize industrial transformation of the state-owned holding traditional manufacturing enterprises and optimize the ownership structure. It is a practical and optimal choice to introduce the industry high-end projects and strategic investors by additional oriental issue. Based on the company performance improvement, do excellent business bigger by using a variety of refinancing tools. I hope it could provide some suggestions for the reform of state-owned enterprises by this research.