Sustainable Financial Growth Of Listed IC Companies Problem Research

As one of the key strategic industries during the “Thirteenth Five-Year Plan” period in China,the integrated circuit industry drives the development of downstream emerging industries such as cloud computing,big data,and the Internet of Things.It is an important force for maintaining national competitiveness and ensuring information security.In recent years,China's integrated circuit industry has developed rapidly,and its industrial scale has continued to expand.In 2014,the average annual growth rate has reached more than 20%.Under the background of rapid development,listed companies of integrated circuits may cause insufficient endogenous capital due to excessive emphasis on growth rate and affect the long-term development of enterprises.Therefore,it is of great significance to achieve sustainable financial growth of integrated circuits.The research ideas of the thesis are mainly divided into three parts: Firstly,the research on the development status and industrial value chain of China's integrated circuit industry,and the smile curve of the integrated circuit industry according to the status quo of China's integrated circuit listed enterprises.Secondly,using factor analysis and regression analysis to analyze 45 A-share listed companies,the main factors affecting the sustainable financial growth of China's IC listed companies.Finally,from the final direction of the upgrade of the integrated circuit industry-the typical case enterprise in the field of integrated circuit design,and from the two main perspectives of the regression analysis and the sustainable growth model,compare and analyze,find the IC listed companies in finance Issues and vulnerabilities in sustainable growth,and the implications of enabling integrated circuit companies to achieve sustainable growth.According to the above ideas,the paper has four main conclusions: First,the value creation ability of the integrated circuit industry taking sample listed companies as an example presents a typical smile curve,but in theory,the final direction of industrial upgrading with high added value-design The field has not yet opened up the gap with other fields;second,China's IC listed companies have not achieved financial sustainable growth,the actual growth rate is higher than the sustainable growth rate,the overall growth is too fast,the financial sustainable growth is not optimistic,and the profitability The operational capability and solvency will have a certain impact on the sustainable growth of China's IC listed companies,among which profitability is the most important factor.Third,the case listed companies have not achieved sustainable growth,and can optimize the capital structure and strengthen Improvements in asset turnover and the establishment of core products;Fourth,there is a significant link between the strategic choice of IC design companies and the ability to sustain financial growth and specific financial impact factors.