MBA学位论文 作者：陈水晶
创雅医汇公司股权融资方案设计研究
创雅医汇公司股权融资方案设计研究
中文摘要
“互联网+”改变了传统行业的发展趋势，对医疗资源分布失衡、患者“看
病难、看病贵”等诸多痛点提供了合适的解决方案,相关类型企业也应运而生。
但在科技成果未得到转化前这类科技型企业会面临资金短缺困境，因而融资的问
题也已成为制约他们未来发展的主要问题。在我国证券市场的日趋完善和政府不
断扶持的背景下，股权融资对这类公司解决债务和融资方面的问题无疑是一个有
效的途径和选择。
本文以创雅医汇股份有限公司为例，在充分剖析该公司的发展经营现状及融
资现状后，提出了股权融资的合理必要性，并制定了其融资原则同时确认了其融
资目标。通过对创雅医汇公司的整体财务情况与可持续实现的盈利能力、业务状
况、组织结构以及公司的核心竞争力等各个方面存在的问题做了一定深入而系统
的研究与分析后，对创雅医汇公司股权融资方案进行了设计。最终设计了投前估
值 281.4亿元，以股权转让方式融资 10亿元，出让股权 3.43%，在IPO 后择机
退出的股权融资方案,并针对该方案做了相应的评价及保障措施。
综上所述，本文的主要内容是对创雅医汇公司融资的相关问题进行探索。希
望通过本文对互联网+医疗类企业融资方面的分析及方案设计并结合具体的保障
措施，为创雅医汇公司的融资提供方案落地，同时为其他同类公司的融资带来一
定的指导意义。
关键词：互联网+医疗，股权融资，融资方案

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MBA学位论文 作者：陈水晶
创雅医汇公司股权融资方案设计研究
STUDY ON THE DESIGN OF EQUITY FINANCING
SCHEME OF CHUANGYA YIHUI COMPANY
Abstract
"Internet +" has changed the development trend of traditional industries and
provided appropriate solutions to many pain points such as the unbalanced
distribution of medical resources and the difficulty and high cost of medical treatment
for patients. Relevant enterprises have emerged at the historic moment. However,
before the scientific and technological achievements have not been transformed, such
technological enterprises will face the dilemma of capital shortage, so the financing
problem has become the main problem restricting their future development. Under the
background of China's increasingly perfect securities market and continuous support
from the government, equity financing can solve the debts of such companies.
This paper takes Chuangya Yihui Co., Ltd. as an example, after fully analyzing
the development and operation status and financing status of the company, puts
forward the reasonable necessity of equity financing, and establishes its financing
principles and confirms its financing objectives. The design of the equity financing
plan of Chuangya Yihui Company is based on in-depth and systematic research and
analysis of the company's overall financial status and sustainable profitability,
operating conditions, organizational structure and the company's core competitiveness.
The final design of the pre-investment valuation of 28.14 billion yuan, through equity
transfer financing of 1 billion yuan to transfer 3.43% of the equity, after IPO choose
to exit equity financing opportunities, and the corresponding evaluation and safeguard
measures for this plan.
To sum up, the main content of this paper is to explore the financing related
issues of Chuangya Yihui Company. It is hoped that the analysis and scheme design of
Internet + medical enterprise financing in this paper, combined with specific
safeguard measures, will provide solutions for Chuangya Yihui Company's financing,
and at the same time bring certain guiding significance for other similar companies'
financing.
Keywords: Internet plus medical, equity financing, financing options
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MBA学位论文 作者：陈水晶
创雅医汇公司股权融资方案设计研究
目录
中文摘要 ................................................. I
Abstract ................................................ II
第一章 绪论 ............................................. 1
1.1研究背景及研究意义..........................................1
1.1.1 研究背景 ...............................................1
1.1.2 研究意义 ...............................................4
1.2 研究内容与研究问题..........................................5
1.2.1 研究内容 ...............................................5
1.2.2 研究问题 ...............................................5
1.3 研究方法与论文结构..........................................6
1.3.1 研究方法 ...............................................6
1.3.2 论文结构 ...............................................6
第二章 相关理论综述 ..................................... 9
2.1 融资相关理论................................................9
2.1.1MM理论.................................................9
2.1.2优序融资理论 ...........................................9
2.1.3企业估值理论 ..........................................10
2.2 股权融资国内外现状.........................................12
2.2.1 国内企业股权融资现状 ..................................12
2.2.2 国外企业股权融资现状 ..................................13
2.3 股权融资相关理论的国内外研究情况...........................14
2.3.1 国外研究情况 ..........................................14
2.3.2 国内研究情况 ..........................................14
。。。以下略