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随着信息化水平的不断提高，软件作为新时代信息运输的重要载体，其更新换代的速度越来越快，软件行业竞争愈演愈烈。近年来，企业为了节约运营成本，提升市场地位，全产业链商业模式开始盛行，但许多软件企业仍然面临着来自国内外巨大的挑战与考验，企业面临适应市场激烈竞争的发展战略调整，在企业的整体发展战略中核心和关键是财务战略，缺乏有效的财务战略将使企业失去全面发展的机会，丧失行业地位，制约企业的可持续发展。因此，如何制定或者优化软件企业的财务战略成为当前软件企业急需解决的问题。

本文选择恒华科技作为案例企业，运用案例研究法对恒华科技全产业链模式下的财务战略进行深入研究。首先，本文通过对财务战略国内外研究现状的梳理，深入思考并总结学者对于全产业链商业模式下财务战略的研究内容，并结合恒华科技的全产业链实施概况，全面分析在全产业链模式下公司的财务战略，包括投资战略、融资战略、营运战略以及股利分配战略。其次，分析案例企业在全产业链商业模式下财务战略实施效果，分别运用财务绩效、非财务绩效以及财务战略矩阵三种分析方法，综合评价财务战略的效果，财务绩效包括盈利能力、营运能力、偿债能力、成长能力；非财务绩效包括研发能力和市场占有率；再次，构建财务战略矩阵，分别从EVA和可持续发展角度进行分析。最后通过对案例企业全产业链模式下财务战略实施效果分析，指出全产业链模式下恒华科技财务战略存在的问题，并有针对性地提出了优化全产业链商业模式下财务战略的建议。

通过研究得出：恒华科技在全产业链下所实施的财务战略在一定程度上提升了恒华科技的企业绩效，但同时也存在投资扩张速度过快、资本结构有待优化、股利分配政策单一、资产周转速度慢、现金流不稳定等问题，应当在实施全产业链过程中通过改善投资结构、完善企业各项管理制度、实行多元化股利分配政策等措施优化财务战略，提升企业的可持续发展能力。

Software, as a key conduit of information in this new age, is seeing its replacement rate rapidly increase and the competition in the software industry is intensifying due to the continual advancement of information technology.The entire industry-chain business model has come to dominate in recent times, in order to reduce operational expenses and bolster market standing; however, numerous software firms remain confronted with immense difficulties and examinations from both their homeland and overseas.Enterprises must adjust their development strategy to the intense rivalry in the market, with financial strategy being the essential element of their overall strategy.The lack of effective financial strategy will make the enterprise lose the opportunity for comprehensive development and the industry status, restrict the sustainable development of the enterprise.An urgent issue for software enterprises is now how to formulate or maximize their financial strategy.

This paper delves deeply into the research content of scholars on financial strategy within the framework of the entire industry chain, by analyzing the current state of financial strategy research both domestically and abroad, and comprehensively analyzes the company's financial strategy under the whole industry chain mode based on the implementation overview of the whole industry chain of Henghua Technology, including strategy of investment, financing, operation, and dividend distribution - all of these are included.An exhaustive evaluation of the financial strategy's effect on the case enterprise's business model across the entire industry chain is conducted by utilizing three analysis methods: financial performance, non-financial performance, and financial strategy matrix.The profitability, operating capacity, solvency and expansion aptitude of a financial performance are all taken into account. Non-financial performance includes R&D capabilities and market share.Third, a financial strategy matrix is constructed and analyzed from the perspectives of EVA and sustainable development.The financial strategy of Henghua Technology, under the whole industry chain mode of the case enterprise, is analyzed to determine its implementation effect. Problems present in this strategy are highlighted and suggestions for optimizing it under the business model of the entire industry chain are proposed.

Through research, it is concluded that the financial strategy implemented by Henghua Technology under the whole industry chain has improved the corporate performance of Henghua Technology to a certain extent, but at the same time, there are problems such as excessive investment expansion, capital structure to be optimized, single dividend distribution policy, slow asset turnover, and unstable cash flow, etc. In the process of implementing the whole industry chain, the financial strategy should be optimized by improving the investment structure, improving the management system of the enterprise, implementing diversified dividend distribution policies and other measures to enhance the sustainable development ability of the enterprise.