摘要：本論文以中日合資企業南京華洋電氣有限公司為具體研究對象，選取南京華洋電氣有限公司2010、2011、2012三年的年度財務報告數據，通過一定的方法分析該企業資本結構管理現狀，主要分析其在資本結構管理方面存在的問題，并結合該企業的實際經營管理情況，找出并分析問題存在的原因，提出南京華洋電氣資本結構優化與設計的具體方案與措施。

　　　本文內容分兩點：其一，根據南京華洋電氣有限公司年度賬表計算財務指標，主要分析企業長期償債能力指標，依據資本結構理論指出資本、負債所占比率存在的問題，設計出合理資本結構。其二，結合目前政治經濟局勢，分析南京華洋電氣目前資本結構的優勢劣勢，計算企業資金成本，對企業資本結構進行優化，降低企業風險，提高經濟效益，使企業價值最大化。

關鍵詞 電氣公司；資本結構；償債能力；資金成本

Abstract：In this paper， we try to use Nanjing HuaYang Electric Co.，Ltd which is a  Sino-Japanese joint venture as the research object， based on it's latest three years of annual financial report data， and analysis the capital structure and the enterprise management status .try to find the major problems which existed， and then using the actual management status data， to find out causes of problems and then put forward the specific proposals to those facing issues. 

　　　The paper consists of two parts: first， according to the Nanjing HuaYang Electrical Company Limited annual account reports to calculate financial indicators， based on the theory of capital structure and points out the percentage of the capital and debt which may cause the existing problems then design a reasonable capital structure. Secondly， combined with the current political and economic situation， do a detail analysis of Nanjing HuaYang electrical's current capital structure， find out it's advantages and disadvantages， then calculate the weighted average cost of the capital， optimize the capital structure of the enterprises to reduce the risk of enterprises， enhance economic efficiency， maximize the value of the enterprise.

Keywords  Electrical Company  Capital Structure  Debt Paying Ability  Financing Cost