During the growth of enterprises, every expansion is a vital change. However,

restricted by their limited scale and management, many private, small-scaled

enterprises are confronted with huge risk when these changes happen. Therefore,

the most urgent problem with which private, small-scaled enterprises have to

deal is how to design a suitable investment scheme and how to acquire capital

by utilizing different financing methods. In this thesis, the author introduce some

theories relating with investment and financing, and make a financing scheme

for a private enterprise, ZS Company, which is a small-scaled manufacture for

valve plants equipped in power station. Firstly, some related theories are

reviewed, such as: MM theory, Trade-off theory and Pecking order theory.

Secondly, the author introduces ZS Company and the specific project,

meanwhile; analyzes the feasibility of this project by using PEST. Next, the

different external financing methods for small and medium-sized enterprises are

listed, also a best scheme is selected from three available financing schemes..

Then, basing on the above methods, the author makes the most suitable

financing scheme for ZS Company and analyzes the earning prospects. In tiie

end, some related supporting measures are designed in order to make sure the

project can be carried out successfully. This thesis is hoped to be used for

reference for investment and financing of other small and medium-sized

enterprises.

[Key words] ZS Company valve scheme design project financing

[Research Type] Applied Research

摘要

在企业成长过程中,每一次扩张都是一次破茧成蝶的蜕变。然而,对规模尚小、管

理者经验不足的中小企业而言,蜕变则是一个艰难且蕴藏着巨大风险的过程。如何根据

自身实际,制定适合的投资方案并对众多的融资手段和渠道加以利用获取发展所需的资

金,已成为当前中小企业最迫切需要解决的问题。

ZS公司是一家生产电站阀门的专业企业,公司整体规模偏小,产品在国内市场所占

份额不大。但由于公司部分产品拥有较为领先的技术,几年来业绩不断攀升,现有产能

已不能满足市场需要,急需扩大产能。ZS公司自有资金较为紧张,必须通过对外融资来

解决项目建设资金。本文意在为ZS公司设计一套切实可行的投融资方案,为类似中小

企业的投融资活动提供一点借鉴。

本文首先对“匪理论”、平衡理论、优序融资理论等成熟的企业融资理论做了梳理

和探讨,并将之作为ZS公司投融资方案的制订依据。其次,介绍了项目和公司概况,

通过PEST分析,对项目可行性做了论证。再次,对中小企业外部融资渠道做了全面总

结,设计了三套相对可行的融资方案,并通过对比选出一套最佳方案,在此基础上,对

项目做了经济效益预测,制订了收益分配方案。最后为项目顺利实施制订了相关保障措

施。

【关键词】ZS公司电站阀门项目融资

【研究类型】应用研究