Case Study On Bayi Iron And Steel's Getting Out Of Financial Distress

With the development and change of technology,the environment faced by enterprises is more complex.At the same time,enterprises are facing greater operational risks and financial difficulties.The fundamental reason why enterprises fall into financial difficulties is that enterprises themselves cannot well follow the development of the environment.Therefore,when enterprises are facing financial difficulties,most of them are unable to solve them easily and find a way to save themselves.This makes it very important to study what measures should be taken to extricate enterprises from financial difficulties.As a pillar industry in the national economy,iron and steel industry plays a vital role in stabilizing the national economy.Its prosperity and decline are also directly related to social stability and development.Many iron and steel enterprises have chosen to merge or transform in succession in order to seek survival.Even so,a considerable number of iron and steel enterprises are in financial difficulties.Under such a background,this paper chooses Bayi Iron and Steel Company,Xinjiangrs largest iron and steel enterprise,as the research object,from falling into financial difficulties,huge losses in 2014 and 2015 to taking a series of effective ways to get out of financial difficulties.Specifically,the paper introduces and analyzes Bayi Iron and Steel Company and its industry background,the performance of Bayi Iron and Steel Company's financial difficulties,the causes of Bayi Iron and Steel Company's financial difficulties,a series of relief measures that Bayi Iron and Steel Company tried in financial difficulties,and the financial situation of Bayi Iron and Steel Company after relief.After taking a series of relief measures,through the vertical.it is concluded that Bayi Iron and Steel Company's relief path has achieved good effect,and its profitability,operation ability and debt paying ability have been significantly improved and enhanced.By analyzing the way of extricating themselves from financial difficulties implemented by Bayi Iron and Steel Company,this paper sums up the relevant experiences of Bayi Iron and Steel Company in extricating themselves from financial difficulties,and provides inspiration and suggestions for similar enterprises in financial difficulties,so as to make them have reference value.