Research On The Causes Of The Financial Difficulties And Solutions Of S Machine Tools

Along with the advancement of globalization,product upgrading accelerate,competition between enterprises is increasingly heated cause the enterprise external environment is complicated,management risk and financial risk is increasing,the number of financially troubled company rising,financial distress has become the hot topic in theoretical and practical circles both at home and abroad.Especially as the traditional manufacturing machine tool industry is facing financial difficulties,S machine for continuous losses in 2015 and 2016,operating performance was implemented delisting risk warning,depends on the supplier's debt restructuring in 2017,has realized the business performance to profit,on the surface of the company out of financial difficulties,but the company is still in the loss of normal business operations.The thesis takes S machine tool as an example,analyzes the financial predicament of S machine tool comprehensively and systematically,so as to find out the causes and solutions of the financial dilemma of S machine tool.The thesis adopts the method of literature research and case study,combination of qualitative and quantitative analysis,comparative analysis and other methods to analyze and study.Firstly,the classical literatures and basic theories are sorted,refined and summarized to provide a solid theoretical foundation for specific enterprise analysis.Secondly,through SWOT analysis,project quality analysis and financial ratio analysis,the formation and characteristics of the financial distress of S machine tool are systematically analyzed.Then,based on the analysis of financial difficulties to find S machine financial trouble causes,mainly includes:the macro environment and industry environment is bad,governance structure defects,guarantee insufficient overweight,asset management,cost control,lack of core competitiveness of products,investment decision-making is not scientific,capital structure and financing structure is unreasonable and so on.Finally,in view of the machine tool S financial trouble specific reasons put forward a series of countermeasures,specific countermeasures mainly include:highlight the main business of the enterprise,optimizing the capital structure and strengthening internal management,strengthening enterprise management autonomy long-term mechanism and improve the incentive and constraint,reorganization of the integration of high quality resources and develop the mixed ownership.The research of the thesis will help to improve the business performance of S machine tool and get rid of financial difficulties.The research proposal of the thesis can also be used for reference in machine tool industry.