Research On High-tech Enterprises’ Financing Strategy In China

With the advancement of economicgrowth mode’s transformation and national vigorously support of high-tech enterprises, more and more enterprises pay more attention to theimportant role of technological innovationinthe company development. High technology, what is with high added value and can effectively save energy and resources, becomes the important impetus of economic growth.Financing plays an important role in the growth of high-tech enterprises. Usually, they have high returns. At the same time this demands higher investment in research and development. Because of its high risk and technology accumulating characteristics, it face difficulties in financing. During a series of analysis, this article gets some effective suggestions to high-tech enterprises to optimize their financing strategy. This article takes the normative research primarily and relies on the research methods of case studyas the auxiliary. It explore to solve the problem how to optimize financing strategy according to the logical train of papering financing present situation, analyzing question and reason, dealing with the problem. At the end of the paper, verifying the conclusions of this article through the analysis of ZTE’s financing activities, explaining the differences between them.This article provides a train of thoughtin theory for the realistic choice of high and new technology enterprise financing strategy.In this paper, the third part thinks that new-tech enterprises should keep lower asset-liability ratio in the initial and growth period and borrow appropriate liabilities to access financial leverage in the mature period through the analysis of the characteristics of high-tech enterprises. At the same time, it must strive for the long-term capital, etc., as far as possible. This can provide certain reference to the following conclusion. The fourth part analyzes the existing problems of high-tech enterprises. The problems are mainly due to the market environment and internal environment. In view of these problems, the fifth part puts forward the advice from the source, namely the theory part of the conclusion in this paper. From the aspects of improving market financing environment, this paper puts forward three Suggestions: one is to establish and perfect the system of credit rating and credit guarantee system. one is to develop the high-tech enterprise project assessment service and another one is to perfect information disclosure system and investment exit channels. Telling from the enterprise itself, this paper argues that enterprises should perfect modern enterprise management system to improve the level of the enterprise internal management firstly. Thus it can attract outside investors’ attention. Secondly, it need to improve the financial departments’ functions and make financing planning. Finally, striving for the various financing channels of funds. At the end, analyzing the case of HUAWEI, confirming the above conclusion. But also there’s some problems, such as the high asset-liability ratio. In a word, this article provides the certain reference significance to the other enterprises.This paper collects the newer data on the basis of predecessors’ research. It elaborate the high-tech enterprises’ financing present situation, problems and its internal and external reasons synthetically combined with the characteristics of the high and new technology enterprise. It puts forward advices on how to solve the problem of external and internal problems and analyze one case. This have certain reference significance for other enterprises.