Research On R&D Investment,sales Expenses And Sustainable Growth Of Enterprises

In the report of the Nineteenth National Congress of the People's Republic of China,we emphasized the need to further implement the Healthy China Strategy.People's health issues have attracted great attention,and structural development opportunities have emerged in the pharmaceutical industry.At the same time,the implementation of policies such as "purchasing medicines by volume","two-vote system",and "medical insurance control fees" has promoted the transformation and upgrading of the pharmaceutical industry,and the pharmaceutical industry is facing higher technology and innovation standards.To achieve quality improvement and efficiency improvement,transformation and upgrading,and high-quality development in China's pharmaceutical industry,there is an urgent need to cultivate a group of high-quality enterprises that truly possess core technology and core competitiveness.At present,many pharmaceutical companies in China are still facing insufficient R&D investment or even abandoning R&D investment,taking the road of "generic drug" and abandoning "original drug",excessive marketing investment,and pursuing short-term high growth.The essence is excessive consumption of high-quality resources Inducing mismatches in enterprise resources will eventually lead companies to pursue so-called "high-speed growth" that will be unsustainable.As we all know,the short-term investment in R&D leads to a decrease in corporate profits,but in the long run it promotes the steady growth of corporate profits.Make it focus on increasing investment in sales expenses and increase sales revenue and corporate profits in the short term,but in the long run,companies blindly pursuing marketing investment will inevitably occupy corporate R&D investment,excessively consume limited company resources,and hinder the sustainable growth of the company.At present,due to many factors such as Sino-US trade frictions and uncertainty in the external environment,China's economy is under downward pressure,and corporate transformation and upgrading are imperative.The Central Committee of the Communist Party of China and the State Council have reviewed the situation and issued a series of policies including mixed ownership reform and supply-side structural reform in a timely manner to vigorously promote the transformation of China's economy to high-quality development.In view of this,systematic research on enterprise R&D investment,sales expenses and sustainable growth of enterprises has important significance.This article selects Zhejiang Shapu Aisi Pharmaceutical Co.,Ltd.(hereinafterreferred to as "Shapu Aisi")as a case study enterprise,selecting financial indicators and non-financial indicators,from the company's profitability,debt solvency,operating ability,development ability,Innovation ability and market ability,etc.,multi-dimensional analysis of case research and development investment,sales expenses and the synergy between the two on the impact of sustainable growth.The research in this paper finds that the level of R&D investment of Shapu Aisi has a large gap compared with domestic and foreign companies in the same industry.The behavior of companies that underestimate R&D will eventually lead to unsustainable corporate development.At the same time,the sales level of Shapu Aisi is relatively large and is on the rise,which is higher than the average level in the same industry,which has greatly negatively affected the sustainable growth of the company.Based on this,this article summarizes the enlightenment of the case for the sustainable growth of the company and proposes the future research directions for the deficiencies in the research.This will enrich the existing financial management theory,the content of the corporate governance field,and stimulate the investors and managers of the company.The emphasis on research and development activities and marketing activities has great theoretical and practical significance.