摘要
实华公司私募股权融资策略研究
近年来，中小民营企业在拉动经济增长、创造就业岗位、激发社会活力等
方面发挥的作用日益彰显。然而，作为国民经济的重要组成部分，中小民营企
业受到社会旧观念、旧体制的影响及自身先天条件、信用水平的限制，在传统
债权融资方式上与明星企业或国有企业相比不具备竞争优势，通过资本市场直
接融资的限制较多，能够成功上市融资的更是百里挑一。中小型民营企业在社
会发展中的地位作用和其所获得的金融资源并不相称。因此，如何通过引进私
募股权融资来解决或缓解中小型企业的融资难问题值得研究
实华公司经历了初创期的艰难，呈现出快速发展的势头，但原有固定资产
和流动资金已无法满足订单的需求，债权融资已满负荷，公司急需拓展新的融
资方式。实华公司作为家族式企业，存在欠缺科学管理理念、组织机构不合理、
团队建设不配套、缺乏战略规划等问题，存在引进私募股权融资的难度，但合
理引进私募股权投资有利于解决资金问题、优化公司治理结构、提升公司核心
竞争力
本文对实华公司私募股权融资进行个案研究，分析了实华公司股权融资路
径选择，论证了募股权融资方式的优势和不足，同时对公司在股权融资过程中
存在的问题及成因进行分析，并提出合理的对策建议以提升公司私募股权融资
效果
关键词：
中小型企业、私募股权、融资策略、科学管理、战略规划
II
Abstract
Research on Private Equity Financing Strategy of SH Company
In recent years, China's small and medium-sized enterprises play an important
role in the rapid development of economic globalization,and become an important
part of our national economy.But,for small and medium-sized enterprises, especially
private and medium-sized enterprises, traditional creditor financing, such as through
banks, does not have a competitive advantage and direct capital market financing is
more restricted;,it's role in social development is not commensurate with the financial
resources they receive. In view of the difficulty of financing for small and
medium-sized enterprises and the high cost of financing, the 19 major reports of our
country put forward to further optimize the financing structure, put the development
of direct financing in an important position, increase the proportion of direct
financing, vigorously develop equity financing, enhance the real economic function
of capital market services.It is worth studying how to promote the development of
private equity financing in small and medium-sized enterprises and solve the
financing problem of small and medium-sized enterprises.
Private equity investment originated in the United States, in recent years in
China's localization process has made rapid progress.Over the past decade, the new
partnership law, the launch of the entrepreneurial board and the new three-board
expansion measures have provided a good policy environment for the development of
private equity.With the increasing maturity of domestic capital market and the fall and
improvement of industrial regulatory policies, the China market has entered a new era
of equity investment.
SH Company is a private enterprise that grew up under this background. The
company has experienced the difficult period and developed rapidly, but the original
fixed assets and working capital can not meet the demand of the order.SH company,
as a family-type enterprise, has some problems such as lack of scientific management
idea, unreasonable organization, unmatching team building, lack of strategic。