Research On The Analysis And Selection Of Financial Strategy Of A Energy Group

Known as "black gold" and "industrial food",coal is the country's basic energy and important raw materials.The development of coal industry concerns the lifeblood of national economy and energy security.However,in recent years,the development of coal industry is faced with many uncoordinated,unbalanced and unsustainable problems.Against the backdrop of slowing economic development and the transformation of energy consumption structure,the supply of coal is far higher than the demand,the contradiction is prominent,and the price of coal has dropped.As a result,a large number of coal enterprises have experienced problems such as increased inventory,difficulty in capital collection and plummeting profitability.In this difficult period,enterprises must do a good job in the research and planning of financial strategy,correct the previous short-sighted behavior of production and operation based on blind utilitarianism and formulate long-term financial strategy based on corporate strategy.This paper combines theoretical research with case study,and takes A Energy Group as a case study object.From the perspective of company strategy,it uses financial strategy matrix analysis method to study the analysis and selection of A Energy Group's financial strategy.The specific framework is as follows: The first part introduces the background and significance of the research,and use the literature research method to sort out the research literature on financial strategy,financial strategy choice,financial strategy matrix and financial strategy of coal enterprises at home and abroad.The second part elaborates the theoretical basis of the research,including enterprisestrategy theory,financial strategy theory,financial strategy matrix theory.The third part analyzes the financial strategy background and current situation of A Energy Group.The first is the introduction of the enterprise profile,followed by the analysis of the strategic environment of the enterprise,including the external macro environment and industry development and the existing resources within the enterprise.And the analysis of financial capabilities,and finally the elaboration of the current state of corporate financial strategy.The fourth part combines the relevant theories of financial strategy selection to construct a financial strategy matrix model based on the value creation index system and the fund surplus indicator system,and applies it to A Energy Group for financial strategy matrix positioning,analyze its financial strategy from 2011 to 2016,It is found that the financial strategy of A Energy Group has a long period of return on investment,rapid expansion of investment scale,imbalance of capital structure,excessive dependence on debt financing,poor operational capability,and unreasonable payment of dividends.In the fifth part,based on the above analysis,it is judged that A Energy Group should choose a defensive financial strategy in the future,and propose investment strategies from controlling investment scale,adjusting investment direction and divesting inefficient assets.Proposing a fundraising strategy from the aspects of preventing debt risk and broadening financing channels.Proposing working capital strategy from adjusting working capital structure,and strengthening management of major working capital projects.And adopt the remaining dividend payment policy and equity incentives to improve the company's profit distribution plan in the dividend payment strategy.Based on the current special environment of the coal industry and the policy background of the country to promote the energy industry to de-inventory,this paper studies the analysis and selection of the financial strategy of coal enterprises.Taking A Energy Group as a case study,we analyzeits financial strategy based on the direction of value creation and sustainable growth.The conclusions and recommendations of the study can provide a new way for A Energy Group to manage its financial strategy,and provide a reference for the correct analysis and selection of financial strategies for other coal companies that are also in a difficult situation,helping enterprises to achieve the goal of sustainable value growth,smoothly achieve transformation and upgrading.