Financing Method Analysis Of GXX Technology Group Co.,Ltd.

With the advancement of science and technology,more and more domestic enterprises embark on scientific and technological innovation to improve corporate capital value and enhance the core competitiveness,and with the continuous improvement of capital market,business management and capital operation in the past few years,more and more high-tech enterprises successfully listed through the main board and the second board market at home and abroad,the asset size of some enterprises is showing a geometric growth.However,in full recognition of these stories,we must also recognize that as a result of domestic high-tech enterprises generally starting late,and constrained by their own asset-light and high-risk characteristics,more companies especially high-tech small&medium enterprises are still facing difficulties in financing.Many of the companies with strong growth potential miss the development opportunities for lack of capital support.In this thesis,we select GXX Technology Group Co.Ltd which listed on the GEM as an example,and propose some financing countermeasures and suggestions based on the elaboration of enterprise financing theory and high-tech enterprise financing method through the use of literature research,quantitative analysis and other research methods,then provide ideas for the practice of domestic high-tech enterprises financing.Firstly,we describe the research status of the financing theory,high-tech corporate finance theory and financing methods which mainly related to MM theory,pecking order theory,and then compare the two financing methods of internal financing and external financing.The discussion of the high-tech enterprises financing mode focuses on the connotation,advantages and disadvantages of equity financing,debt financing and mixed financing methods.A comparative study based on the company’s key financial indicators in recent years is carried out in this thesis and point out that the endogenous scale is too small,refinancing faces uncertain risks and the financing channel is not smooth.On this basis,we conclude that the company should improve the efficiency of corporate finance,improve the company’s capital structure,reduce financing costs,and promote sustained and healthy development through improving the internal governance structure,establishing a sound financial system,actively seeking financial support and other aspects.Financing methods analysis and proposals mentioned in the text also have some practical significance for domestic high-tech corporate finance practice.