摘要:实践证明，国内外许多企业倒闭时账面并不是亏损的，真正导致他们破产的是现金流的不足，是没有充足的现金偿还到期债务时，导致财务危机直至最后破产。可见，拥有可靠、正常的现金流甚至比良好的盈利能力还重要。随着我国经济发展的不断深入，高新技术企业渐已成为我国产业结构升级，发展新兴产业、积极参与国际分工、国际竞争，实现我国经济快速增长的骨干力量。对于现金流量管理来说，具有很强的实践性，其在高新技术企业财务管理中的地位也越来越重要，对于那些处在高速发展阶段，但负债率又很高的企业来说更是如此。

　　　本文首先围绕高新技术企业经营及生命周期的阶段性特点，对高新技术企业的现金流量管理进行相关理论阐述。其次根据企业生命周期理论，对广东生益科技公司现金流量管理进行分析。最后，针对高新技术企业现金流量管理中出现的一些问题，提出了一些解决对策。

关键词 生命周期；现金流量；高新技术企业

Abstract:Practice has proved that the collapse of many companies at home and abroad, carrying not a loss, the real cause of their bankruptcy is the lack of cash flow. Do not have sufficient cash to repay maturing debt, leading to the financial crisis until the last bankruptcy. Visible, reliable, normal cash flow is even more important than good profitability. With the deepening on China's rapid economic development, high-tech enterprises gradually has become the backbone of China's industrial structure upgrading, development of new industries, and actively participate in international division of labor, international competition and China's rapid economic growth. Cash flow management is a very practical management, cash flow management position in the financial management of high-tech enterprises has become increasingly prominent. For those High-tech enterprises what are in high debt ratio for the current stage of rapid development, are particularly important.

　　　Firstly, we talk about the high-tech business and the stage of the life cycle characteristics, cash flow management of the high-tech enterprises related theoretical explanations. According to the enterprise life cycle theory, we pick GSST cash flow management for analysis. Finally, we give some suggestions to improve the level of high-tech enterprise cash flow management countermeasures.

Keywords   enterprise life cycle  cash flow  high-tech enterprises