金融学院知识库

当前，高质量健康发展已成为企业成长发展的首要目标，为了适应知识经济和互联网经济发展环境，企业需积极高效地制定出应对之策，适时调整企业运营模式和发展理念，正确选择高效的融资方式才能实现企业快速成长和高质量发展。大量企业的亲身实践表明，轻资产运营模式已经形成了一套相对成熟的发展理念，正确应用该经营模式能够对企业成长产生积极地促进作用。因此，本文以轻资产运营模式为出发点，选择医药制造业中典型的创新类药研发企业——江苏恒瑞医药股份有限公司为分析对象，讨论融资方式的选择对轻资产企业成长的影响。通过对该企业展开全面的分析研究，文章发现随着企业在轻资产模式下不断的成长和发展，不仅财务数据会表现出明显的轻资产特征，其融资方式选择上也会呈现出典型的内源融资偏好。同时，研究发现适应轻资产运营模式的企业融资结构能够对企业的成长产生积极的促进作用，这种作用力会外化表现为优秀的成长潜力、盈利能力和运营能力。本文研究的意义在于，结合当代高质量健康发展要求，以轻资产运营模式为研究出发点分析了企业融资方式选择偏好对企业成长产生的影响，有助于企业在生产经营过程中适时检验自身的运营模式和经营能力，及时发现资本结构存在的问题并精准快速进行调整，进而实现企业的高效成长和价值最大化。

At present, high-quality and healthy development has become the primary goal of corporate growth and development. In order to adapt to the development environment of knowledge economy and internet economy, companies need to actively and efficiently formulate countermeasures, timely adjust corporate operating models and development concepts, and correctly choose efficient financing Only in this way can the company achieve rapid growth and high-quality development. The personal practice of a large number of companies shows that the asset-light operation model has formed a relatively mature development concept, and the correct application of this business model can positively promote the growth of the company. Therefore, this article takes the asset-light operation model as the starting point, and selects Jiangsu Hengrui Pharmaceutical Co., Ltd., a typical innovative drug research and development company in the pharmaceutical manufacturing industry, as the analysis object to discuss the impact of the choice of financing methods on the growth of asset-light enterprises. Through a comprehensive analysis and research on the company, the article found that as the company continues to grow and develop under the asset-light model, not only the financial data will show obvious asset-light characteristics, but also the typical selection of financing methods have intrinsic financing preferences. At the same time, the corporate financing structure that adapts to the asset-light operation model can have a positive effect on the growth of the company, and this force will be externalized into excellent growth potential, profitability and operational capabilities. The significance of the research in this paper is to combine the requirements of contemporary high-quality and healthy development, and analyze the influence of the choice of corporate financing methods on the growth of the company based on the light-asset operation model, which will help companies to timely test their own operations in the production and operation process. Models and operating capabilities, timely detection of problems in the capital structure and precise and rapid adjustments to achieve efficient growth and maximum value of the enterprise.