capitalOperationcapital operation 、Consumption investment、Chain sales、Bright economy, offshore economy, etc. are the concepts created by the Chinese mainland business community.It refers to a kind of business mode that uses market rules to realize value appreciation and benefit growth through the technical operation of capital itself or the scientific movement of capital.
Now under the severe attack of the government, pyramid selling has not dared to do it openly.But they have fabricated a lot of "lies", among which "capital operation" is a common term they use to deceive people.[1]
Issuance of sharesbond(including convertible corporate bonds)Allotment, new share issuance, equity transfer, bonus share distribution, share capital conversionshare repurchase (Decrease of registered capital), merger, trusteeship, acquisition, merger, division andrisk investmentEtc,assets reorganization , divestiture, replacement, sale, transfer of the enterprise's assets, or merger, trusteeship, acquisition, merger, separation of the enterprise, in order to improve the capital structure or debt structurecapital operation Lay the foundation for our fundamental goal.[2]
1、 According to the expansion and contraction mode of capital operation, it can be divided into:
1. Expansive capital operation: specifically divided into vertical capital operation, horizontal capital operation and mixed capital operation.
2. Shrinkage capital operation: specifically divided into asset stripping, company separation, spin off and listingShare repurchaseEtc.
2、 According to the connotation and extension of capital operation, it can be divided into:
1. Connotative capital operation: including industrial investmentListing financingInternal business restructuring of the enterprise.
2. Extensive capital operation: including acquisition and merger, enterprise shareholding alliance, venture capital and financial investment of enterprises.
General characteristics
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In essence, capital operation is closely related to commodity operation and asset operation, but there are differences between them. Asset operation, commodity operation and capital operation cannot be equated.Capital operation has the following three characteristics:
(1) Liquidity of capital operation
Capital is the value that can bring value appreciation. The idleness of capital is the loss of capital. The life of capital operation is movement. Capital has time value. A certain amount of capital has different values at different times. A certain amount of capital today has higher value than the same amount of capital in the future.
(2) Appreciation of capital operation
The realization of capital appreciation is the essential requirement of capital operation and the internal feature of capital.The purpose of capital flow and restructuring is to maximize capital appreciation.The capital operation of an enterprise is that capital participates in the reproduction process of the enterprise, constantly changes its form, and participates in the movement of product value formation. In this movement, the living labor of workers is combined with the materialized labor of the means of production. As the absorber of living labor, capital realizes the value increase of capital.
(3) Uncertainty of capital operation
In capital operation activities, the uncertainty of risks and interests coexist.Any investment activity is a kind of risky capital investment, and there is no risk-free investment and income.This requires managers to strive to consider capital appreciation and existing risks at the same time when making capital operation decisions. They should consider the long-term development of the enterprise. Enterprise managers should try to disperse capital operation risks, disperse their capital, and absorb other capital at the same timeParticipation。
Comparative differences
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Difference from commodity management
1. Different business objects.The object of capital operation is the capital and movement of the enterprise, focusing on the value of the enterprise's business process, and pursuing value appreciation.The object of commodity business is the product and production and sales process. The basis of business is plant, machinery and equipment, product design, etc., focusing on the use value of the business process.
2. Different business areas.Capital operation mainly operates in the capital market (capital market includes securities market and non securities marketProperty rights trading marketEtc.).The commodity business of the enterprise mainly involves the production technology of products, the purchase of raw materials and the sales of productscapital goods market, labor market, technology market andcommodity marketOperation on.
3. The operation mode and purpose are different.The way and purpose of commodity management is to maximize profits through the sale of goods or the provision of services.The way and purpose of capital operation is to improve the efficiency and efficiency of capital operation through the flow and restructuring of property rights.
4. Different business orientations.Commodity management is mostly controlled by price signals.Capital operation is mainly restricted by the capital market andReturn on capitalLimitations of.
5. Operational risks are different.The survival and development of commodity enterprises depend on one or more products. If the market demand changes, it will directly affect the survival and development of enterprises.Capital operated enterprises base their survival and development on one or more industries, constantly find new economic growth points, exit risky industries in time, and avoid risks.
6. The development mode of enterprises is different.The enterprises engaged in commodity business mainly rely on their own accumulation to achieve development by creating more profits and transforming them into capital, increasing production factors and production capacity.The capital operation not only focuses on the internal accumulation of the enterprise itself, but also enables the enterprise to expand rapidly and grow through the external expansion of capital.
Capital operation and commodity operation are two complementary aspects of enterprise operation, which should be organically combined.Commodity management is always the basic form of enterprise operation and the basis of capital operation;Capital operation can not replace commodity operation. It can expand the market share of enterprises and generateEconomies of scaleExpand business scope and reduce business risks.
Pyramid scheme
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Due to the lack of supervision, there are a large number of illegal persons pretending to operate as capital to engage in illegal pyramid selling activities. Consumers should pay attention to identification and not be deceived[3]。
At the beginning of 2015, the Economic Investigation Brigade of Nansha District Public Security Branch set up a special team to gradually verify that the pyramid selling organization was headed by Mr. Huang, and the key figures of the organization were "boss" Li Mouquan, Mr. Liang and others.Since 2012, the organization has gone offline under the guise of "Sunshine Project", "Chamber of Commerce", etc., charging 50800 yuan per person. In just three years, people involved in pyramid selling activities have spread to Dagang Town, Lanhe Town, Foshan Shunde, Zhongshan, Zhuhai, Shenzhen and other places in Nansha District, involving more than 1000 people[4]。
