Research On The Implementation Effect Of Financial Strategy Of Shanxi Coking Co.,Ltd. In Transformation

Over the past 40 years of reform and opening up,China’s economy has achieved rapid growth,but it has also paid a heavy ecological and environmental price.At present,China is facing huge pressure of resources and environment,so we must accelerate the transformation and development of energy management system and mechanism.The report of the 19 th CPC national congress pointed out that “China’s economy has shifted from a stage of rapid growth to a stage of high-quality development”.In order to adapt to the new development requirements and form a long-term competitiveness,resource-based enterprises have been transformed.Enterprise transformation cannot do without the support of capital.As an important part of the enterprise strategy,financial strategy plays a supporting role in the enterprise strategy.Reasonable financial strategy is conducive to the realization of enterprise strategy.This thesis takes Shanxi Coking Co.,Ltd.,a large-scale metallurgical coke production and export company in China as an example,to study the effect of financial strategy implementation in the context of its transformation,to explore whether the financial strategy in the context of corporate transformation is compatible with the environment in which it is located,and whether the implementation of financial strategy can support the enterprise strategy,and to find out the problems existing in the financial strategy and put forward countermeasure accordingly.First,the thesis introduces the corporate strategy of Shanxi Coking,and analyzes the external environment and internal environment of the financial strategy implementation in the transformation of Shanxi Coking.Secondly,this thesis studies the current situation of financing strategy,investment strategy and dividend distribution strategy in Shanxi Coking transformation.Thirdly,construct the financial strategy matrix and the coupling coordination degree model to evaluate the implementation effect of the financial strategy in the enterprise transformation.It is found that the actual financial strategy of the enterprise is not consistent with the principle of the financial strategy matrix,and there are such problems as imbalance of capital structure,too large investment scale,low investment benefit and unreasonable dividend distribution.As can be seen from the evaluation results of the coupling coordination degree model,the degree of coupling and coordination between financial strategy and enterprise strategy is not high,which is in the stage ofantagonistic.Financial strategy cannot well support enterprise strategy.Finally,it puts forward countermeasures to improve the effect of financial strategy in Shanxi Coking transformation,including controlling the scale of investment,changing the direction of investment,improving the ability of capital operation,adopting diversified financing,rationally distributing dividends,and enhancing coupling coordination etc.,in order to enhance the financial advantages of the enterprise,thereby creating the enterprise competitive advantage,smooth transformation,and promote long-term development of the enterprise.It also provides reference for the implementation and adjustment of financial strategy in the transformation of resource enterprises in China.