The Study On Financial Strategy Of Shaanxi Coal Industry Company Limited

China's energy resources are characterized by "rich coal,lean oil,and less gas." Coal,as China's basic energy,is in an important strategic position in China's national economy,and coal is in the energy structure for a long period of time in the future.The dominant position in the medium will not change much.However,the coal industry has experienced a lag in the development of the “Golden Decade”,with severe overcapacity and a long-term market downturn.In December 2015,the central government once again stated that “going capacity,destocking,de-leveraging,cost reduction,and short-boarding” are the key tasks of the current supply-side reform.As a serious overcapacity industry,the coal industry has been in a state of continuous downturn due to the deepening of supply-side reforms and the influx of low-cost foreign coal.In terms of ecological environment,with the transformation of China's economic development direction and the transformation and upgrading of energy production structure and consumption structure,the development of the coal industry is gradually enhanced by the impact of ecological environment and climate change.In December 2016,the “13th FiveYear Plan for Coal Industry Development” clearly pointed out that China's coal industry is still in the stage of overcapacity of production capacity,to accelerate the optimization of coal structure,promote clean coal production,and deepen the reform of the coal industry.As a key area for resolving overcapacity and structural reforms,how to improve their own market competitiveness and how to seize the national policy to stabilize the enterprise is a problem that coal enterprises must face at this stage.The financial strategy is implemented as other strategies of the enterprise.Important support has more important research significance.This paper takes Shaanxi coal industry as the research object.After combing the related concepts and theoretical basis of financial strategy,it analyzes the macro environment of the enterprise and uses the “Porter Five Forces” model to study the industrial environment of the coal market,and then combine The financial data of the company in the past five years explores the internal environment of the enterprise.At the same time,it uses SWOT model to analyze the internal advantages and disadvantages of Shaanxi coal industry,external opportunities and threats,and then combines the overall strategy of Shaanxi coal industry to explore the suitable coal for Shaanxi.The financial strategy for the future development of the industry.Finally,using the financial strategy matrix as an analysis tool,the investment strategy,financing strategy and dividend distribution strategy of Shaanxi Coal Industry are analyzed,and the existing problems are pointed out and corresponding suggestions are put forward.After analyzing the strategic environment of Shaanxi Coal Industry,it is concluded that the enterprise should adopt the SO strategy.Combined with the financial strategy matrix of the enterprise,it is found that the enterprise is located in the second quadrant in 2018 and belongs to the value-added cash surplus enterprise.Shaanxi coal industry should adopt stability.Financial strategy combining type and expansion.However,in the current implementation of the financial strategy,there are still problems of single investment direction,narrow funding sources,unbalanced fund-raising structure and unreasonable distribution of dividends.Then the paper puts forward corresponding financial strategy optimization suggestions from three aspects of investment,financing and dividend distribution.In the investment strategy,it is necessary to diversify investment to avoid risks,and “horizontal and vertical integration” optimizes the industrial chain;in terms of financing strategy,it is necessary to expand financing channels and make reasonable Financing optimizes the financing structure;in the dividend distribution strategy,you can consider adopting a low normal dividend plus extra dividend policy or a dividend policy combining stock dividends and cash dividends.