The Research On Financial Structure Optimization Of HUAFANG Co., Ltd

Financial structure as a classic study of finance, the domestic and foreign experts have done more research. With the improvement of social development, economic level, face the reality of social development environment and the emergence of new problems, in the face of the development of the enterprise theory, enterprise goals need to reshape, deterioration of updated financial structure theory, We pay more attention to financial structure and performance of the business analysis and research, so that the financial structure optimization. Taking HUAFANG co., ltd as an example, it analyses and optimizes its financial structure.High quality assets structure can reduce the management risk and financial risk of the enterprise, improve enterprise business performance, to promote enterprise realize the goal of maximizing the wealth of shareholders. HUAFANG co., ltd assets ratio is greater than the proportion of non-current assets, the assets of the enterprise belong to conservative asset structure model, liquidity is stronger, the profitability will be a certain limit. The proportion of liquid assets in the stock and currency funds is bigger, the proportion of fixed assets is larger, projects under construction on the increase, the proportion of enterprise in the expanded reproduction, the proportion of intangible assets is lower, and reduce the phenomenon. HUAFANG co., ltd assets structure based on the average level in the industry, but in the context of its current assets each content structure, monetary funds and the proportion of the inventory are higher than the industry average. Enterprise's accounts receivable, inventory, fixed assets and intangible assets turnover in improving. conclusions asset structure optimization suggestions:(1) the increase of foreign investment, buying bonds or for relevant enterprises stake, form the long-term financial assets. (2) Perfect improve all kinds of software and the Internet platform, research and development of patented technology; More efforts to research and development, innovation incentive worker, form of intangible assets; (3) to speed up the asset turnover.Capital structure refers to the enterprises in the process of access to funds, various financing channels and ways to the composition of capital and the relationship between the reasonable capital structures can reduce the cost of capital, increase shareholder wealth, and promote the sustainable development of the enterprise. The debt ratio is larger, HUAFANG co., ltd the vast majority of liability belongs to current liabilities, long-term debt capital ratio is very low, long-term debt capital is the main form of long-term loans, enterprise bonds payable and long-term payables. Owners' equity values changed nearly five years, the proportion of the change is mainly affected by equity scale, higher the proportion of equity and capital reserves, surplus reserves ratio is low. From the developing trend of capital structure, the proportion of short-term debt capital has remained high, can not well play the role of financial leverage. conclusion capital structure optimization suggestions:(1) through the equity incentive compensation and pension; (2) the purchase, to promote equity capital ratio, effectively strengthen the control of the listed company; (3) the issuance of bonds, and improve the ratio of long-term debt capital, also can undertake financing lease, both increased the inward investment, and optimizing the debt structure.In addition, from strengthening the company's own ability, perfect the enterprise internal control system, the dynamic vision to look at good, pay attention to the principle of optimizing capital structure and capital structure optimization and handle the relationship between asset structure optimization, etc., need to be aware of financial structure optimization problem.