衡阳裕衡光电仪器有限公司的前身是衡阳光学仪器厂。该厂在改革开放的大潮推动下,通过加速改制、转制步伐,对外引资生产,对内加强管理,着力做好“降低资产负债率、提高资金利用率、加速贷款回笼率、降低资金成本率、提高资金积累率”的“五率”文章,使资金短缺现象逐步趋于缓解,保证了生产经营活动的正常运转,告别了因资金紧张而制约生产经营发展的瓶颈。下面是他们解决资金矛盾的具体作法:一、引进外来资金,降低资产负债率原衡阳光学仪器厂是个中小型企业,自有资金短缺,全靠银行贷款和拖欠别人的贷款过日子,形成了债务负担沉重,高负债的资本结构。当时该厂的资产负债率为78%,扣除不良资产,其资产负债率为78%,流动比率100%,营运资金为负数。这种不合理的资本结构,使企业一亏再亏,举步维艰,难以生存。如何优化资本结构,已成为该厂迫切需要解决的重大问题这个厂的领导从剖析企业的历史和现状入手,认为企业生产的主导产品——生物显微镜,用途广泛,适销对路,质量上乘,企业信誉度较高;但致命的弱点是因资金短缺影响生产经营活动时断时续,时起时落。因此,该厂领导及时作出“发挥优势、转换劣势,跳出一时一地的局限,冲破传统观念这堵围墙,四处寻找伙伴,引资生产,调整资本结构”的决定。 Hengyang Yuheng Photoelectric Instrument Co., Ltd. was formerly known as Hengyang Instrument Factory. Under the impetus of the reform and opening up drive, the plant has accelerated the restructuring and transformation of production, introduced foreign capital production, strengthened internal management, and made efforts to reduce the debt ratio, increase the utilization ratio of capital, accelerate the loan recovery rate, and reduce the cost of funds. The increase in the rate of capital accumulation by the “five-rate” articles has gradually eased the shortage of funds, ensured the normal operation of production and business activities, and bid farewell to the bottleneck that has constrained the development of production and operations due to tight funding. Here are some specific ways they can solve the problem of capital contradiction: First, the introduction of foreign capital to reduce the asset-liability ratio The former Hengyang Instrument Factory is a small and medium sized enterprise. It has a shortage of its own funds and depends on bank loans and defaults on other people’s loans to form a debt burden. Heavy, highly indebted capital structure. At that time, the asset-liability ratio of the plant was 78%. After deducting non-performing assets, its asset-liability ratio was 78%, the current ratio was 100%, and working capital was negative. This kind of unreasonable capital structure makes it difficult for the company to survive if it suffers losses and losses. How to optimize the capital structure has become a major issue that the plant urgently needs to solve. The leader of this plant begins with an analysis of the history and current status of the company. He believes that the leading product of the company’s production is the biological microscope, which has a wide range of uses, is marketable, and has superior quality. The credibility is high; but the fatal weakness is that due to the shortage of funds, the production and business activities are interrupted, and they fluctuate from time to time. Therefore, the leaders of the plant promptly made a decision to “strengthen their advantages, change their disadvantages, jumped out of the limitations of one-and-one-ones, broke through the traditional concept of this wall, looked for partners, introduced production, and adjusted the capital structure”.