Industrial Policy,Industrial Transformation And Financial Crisis

National macroeconomic policies will have an important impact on the prospects and expectations of enterprises.Existing studies have shown that industrial policies are conducive to enhancing the financing capacity of enterprises,thus promoting enterprises to achieve better development.At the same time,under the overall situation of the change of domestic energy pattern,the state vigorously develops clean energy,and the optimization of energy structure has become the main policy direction.For the power generation industry,biomass energy technology is listed as a key research project.The year 2003 is the acceleration period of the national power generation technology construction.In 2005,the standing committee of the National People’s Congress passed the renewable energy law,establishing fiscal and tax policies to encourage the development and implementation of biomass energy technologies.From 2012 to 2016,the national energy administration successively formulated and issued "the 12 th five-year plan for the development of renewable energy" and "the 13 th five-year plan for the development of renewable energy",proposing the orderly research and development of biomass energy utilization technology to realize the stable development of biomass power generation technology.However,as a matter of fact,after the implementation of the state industrial policy,the power generation industry has seen the phenomenon of overcapacity and project implementation not meeting expectations,and some enterprises have fallen into difficulties.This shows that the industrial policy has not achieved the desired effect in some aspects.At the same time,financial crisis is not only an important topic in the field of research,but also a problem that every enterprise in the current market environment is paying close attention to.Recently,China’s listed companies default,bankruptcy and other financial crisis events continue to occur,causing widespread concern in the market.In April 2018,the China securities regulatory commission(CSRC)issued a "delisting risk warning",or ST.In October of the same year,Chang sheng biotechnology co.,ltd.was forced to delist due to financial crisis due to major violations.On December 13,2018,the parent company of Wotema,once a lithium battery giant,filed for bankruptcy and reorganization with the intermediate people’s court.A large number of financial crisis events occurred,causing significant losses to investors,creditors,employees,government departments and other stakeholders.Based on industry policy support of renewable biomass power generation industry as the background,at the same time,based on private enterprise into a financial crisis frequently basis for selecting,select the typical Kaidi ecology as the object of case study,the related theory,based on related literature as well as the financial crisis to Katie ecology into the external cause and internal cause of the financial crisis are analyzed,then explain why in the case of the national industrial policy support,in the rapid growth of Kaidi ecology through the industry transition,but the effect was not up to expectations,the last was in financial crisis.First biomass power generation industry policy,and Katie ecological industry transition evidence materials were analyzed,and the second analysis Kaidi ecological financial position and performance,and then establish biomass industry policy and Katie ecological industry transition,Kaidi ecological industry transition,and evidence of the relationship between company was in financial crisis,based on the company industry transformation,establish biomass industry policy of Kaidi ecological logical relationship of financial crisis.Based on the analysis of the evidence of Kaidi ecological case,the following conclusions are drawn :(1)industrial policy and its adjustment can change the financial status and business performance of enterprises by influencing their decision-making behaviors,such as comprehensive industry transformation.At the same time,external pressure by financing regulation,combined with the internal governance structure defects,lead to the company policy on the one-sided interpretation,causes the wrong decision,such as blind expansion of aggressive behavior and ignore the ability construction,performance fell sharply,and the consecutive losses,the phenomenon such as bond defaults,the enterprise into a financial crisis.(2)through the case study of Kaidi’s ecological financial crisis,this paper proves that the final financial crisis usually goes through a period of crisis latent stage in the early stage when the financial index keeps deteriorating.Therefore,enterprises should find the root cause of financial crisis and take appropriate measures to prevent it,which is conducive to analyzing their own situation and achieving performance growth and sustainable long-term development.Therefore,it is worth thinking and exploring why,with the support of national industrial policy,the Kaidi ecology,which is in a period of rapid growth,went through the transformation of the industry,but the implementation effect failed to reach the expectation and finally fell into financial crisis.This article can provide reference value for similar enterprises.(3)the financial crisis of a company often involves its decision-making,production process,business activities and other aspects.Therefore,when enterprises blindly expand the scale of production and their financial situation begins to deteriorate,they should take effective measures to prevent the financial crisis from worsening.Especially for the typical electric power manufacturing enterprise Kaidi ecology,the industry is greatly affected by industrial policies,so the enterprise must improve its adaptability and adaptability to the economic environment externally,improve its strategic planning capacity internally,and establish a sound financial crisis warning mechanism to cope with the recession brought by the economic cycle.Based on the above research conclusion,in the industry are greatly influenced by industry policy,the company under the influence of industrial policy,should not blindly follow the policy guidance,the implementation of comprehensive industry transition,should improve their ability to adapt to change,to develop with the company’s internal and external resources that match the company’s strategy,in order to realize the company healthy and stable development,to prevent the deterioration of the financial and financial crisis.