当前，中国经济由高速增长阶段向高质量发展阶段转变，加快科技创新，增 强经济的创新力和竞争力已经上升为国家战略。作为国民经济重要组成部分的科 技型中小企业，是培育发展新动能、推动高质量发展的重要力量。为此，国家出 台了一系列政策支持科技型中小企业增强技术创新力与核心竞争力，坚定不移加 快创新发展，但因研发、运营等环节大量资金投入带来的融资难、融资贵等难题， 始终是制约科技型中小企业长远发展的突出因素。 科技型中小企业的成长期是企业发展的关键时期，但这一时期的中小企业也 正是实力不强、投资潜力不明的时期，此时尝试以传统渠道申请银行信贷支持， 与现阶段企业成长条件不符，同样也不满足银行的信贷市场资格。因此，如何采 取一系列行之有效的措施，加强金融资本市场对科技型中小企业的支持，拓展企 业融资渠道，使企业在发展关键时期获得充沛资金成为广受关注的社会难题。 本文以成都上生活网络科技有限公司为研究对象，重点分析其经营状况与融 资现状，在梳理相关问题和深入分析内外环境的基础上，提出了融资优化方案。 首先，对上生活网络科技公司组织架构和股权结构进行概述，分析其经营业务和 财务状况，建立融资分析现实依据。其次，立足企业成长周期、资本分析和融资 相关理论，从政策支持、行业环境、资本市场、和公司自身条件等方面，揭示处 于成长期的上生活网络科技有限公司应重点关注股权融资和政策扶持方案。最 后，结合企业自身实际和内外发展环境，提出适合上生活网络科技公司应用的股 权融资、供应链融资和政府产业资金扶持三种融资优化方案。 本文的研究为案例公司缓解融资难题提供了解决路径，对同类科技型中小企 业融资和政府实施科技型中小企业融资扶持也具有一定的参考价值。 关键词：中小科技企业；股权融资；供应链融资；政府产业资金 Ⅰ Abstract Atpresent,China'seconomyischangingfromahigh-speedgrowthstagetoa high-qualitydevelopmentstage.Acceleratingscientificandtechnologicalinnovation andenhancingtheeconomicinnovationandcompetitivenesshavebecomenational strategies.Asanimportantpartofthenationaleconomy,scienceand technology-basedSMEsareanimportantforceforcultivatinganddevelopingnew kineticenergyandpromotinghigh-qualitydevelopment.Thestatehasissuedaseries ofpoliciestosupporttechnology-basedSMEstoenhancetheirtechnological innovationcapabilitiesandcorecompetitiveness,andunswervinglyaccelerate innovationdevelopment.However,difficultiessuchasfinancingdifficultiesand expensivefinancingcausedbyalargeamountofcapitalinvestmentinresearchand development,operations,etc.havealwaysbeenProminentfactorsrestrictingthe long-termdevelopmentoftechnology-basedSMEs. Thegrowthperiodoftechnology-basedSMEsisacriticalperiodforenterprise development.However,SMEsinthisperiodarealsoaperiodofweakstrengthand unknowninvestmentpotential.Atthistime,obtainingbankcreditthroughtraditional channelstosupportdevelopmentisnotconsistentwiththegrowthconditionsof enterprises.Nordoesitsatisfybanks'creditmarkets.Therefore,howtotakeaseries ofeffectivemeasurestostrengthenthefinancialcapitalmarket'ssupportfor technology-basedSMEs,expandcorporatefinancingchannels,andenable enterprisestoobtainsufficientfundsinthecriticalperiodofdevelopmenthas becomeamatterofgreatconcern. ThisarticletakesChengduShangshengNetworkTechnologyCo.,Ltd.asthe researchobject,focusesonanalyzingitsoperatingconditionsandfinancingstatus, andproposesinnovativefinancingsolutionsbasedonsortingoutproblemsand in-depthanalysisoftheinternalandexternalenvironment.First,itsummarizesthe organizationalstructureandequitystructureofShanghaiLifeNetworkTechnology Company,analyzesitsbusinessoperationsandfinancialstatus,andestablishesa realisticbasisforthenextfinancinganalysis.Secondly,basedonthetheoryof corporategrowthcycle,capitalanalysisandfinancing,fromtheaspectsofpolicy support,industryenvironment,capitalmarket,andthecompany'sownconditions,it ispointedoutthatShangshengNetworkTechnologyCo.,Ltd.inthegrowthstage shouldfocusonequityfinancingandpolicysupport.Program.Finally,combined withtheactualsituationoftheenterpriseandtheinternalandexternaldevelopment environment,itproposesthreefinancingoptimizationsolutionssuitableforthe applicationofShanghaiLifeNetworkTechnologyCompany'sequityfinancing, supplychainfinancing,andgovernmentindustrycapitalsupport. Theresearchinthisarticleprovidesasolutionforcasecompaniestoalleviate financingdifficulties.Italsohascertainreferencevalueforsimilartechnology-based SMEfinancingandgovernmentimplementationoftechnology-basedSMEfinancing support. Keywords：Smallandmediumtechnologycompanies;Equityfinancing;Supply chainfinancing;Governmentindustryfunds Ⅱ 目录 摘要..............................................................................................................................................I Abstract.......................................................................................................................................II 第1章绪论...............................................................................................................................1 1.1选题背景与研究意义...................................................................................................1 1.1.1选题背景..............................................................................................................1 1.1.2研究意义..............................................................................................................2 1.2国内外研究综述............................................................................................................3 1.2.1国外研究综述......................................................................................................3 1.2.2国内研究综述......................................................................................................4 1.2.3文献述评..............................................................................................................5 1.3研究内容与研究方法....................................................................................................6 1.3.1研究内容..............................................................................................................6 1.3.2研究方法..............................................................................................................7 第2章研究的理论基础...........................................................................................................8 2.1科技型中小企业界定与其资本结构特点....................................................................8 2.1.1科技型中小企业界定..........................................................................................8 2.1.2科技型中小企业资本结构特点..........................................................................8 2.2科技型中小企业生命周期理论....................................................................................9 2.2.1六阶段生命周期理论..........................................................................................9 2.2.2四阶段生命周期理论..........................................................................................9 2.3科技型中小企业融资理论..........................................................................................10 2.3.1“麦克米伦缺口”理论.....................................................................................10 2.3.2不对称信息理论................................................................................................10 2.3.3融资偏好理论....................................................................................................11 第3章上生活网络科技公司概况.........................................................................................12 3.1上生活网络科技公司的组织架构和员工..................................................................12 3.1.1上生活网络科技公司的组织架构....................................................................12 3.1.2上生活网络科技公司员工构成........................................................................13 3.2上生活网络科技公司的股权结构..............................................................................14 3.2.1上生活网络科技公司总体股权结构................................................................14 3.2.2上生活网络科技公司前5名主要股东持股情况............................................14 3.3上生活网