近年来，全球制药装备制造行业面临诸多外部挑战，包括中美贸易摩擦、全球疫情冲击以及行业技术变革加速等，导致市场竞争加剧、行业利润空间受压缩。H公司作为国内制药装备行业的重要企业，面临短期偿债压力、盈利能力波动、资本结构优化需求及国际市场竞争加剧等多重挑战。为全面评估H公司的经营状况及发展策略，本文基于哈佛分析框架，结合PEST分析、波特五力模型及SWOT分析，从战略、会计、财务及前景四个维度对H公司展开多角度实证分析。

研究发现，在战略维度上，H公司在中低端市场具备一定优势，但在高端市场仍存在技术与品牌短板，需加快战略调整与资源整合，提升差异化竞争能力；在会计与财务维度上，虽然公司财务信息披露较为透明，资产规模持续增长，但应收账款与存货占比偏高，资产周转效率偏低，短期偿债能力与财务稳定性承压；在前景维度上，公司若能把握智能制造、全球化拓展及技术创新等战略机遇，具备实现持续增长的潜力，但仍需防范外部环境不确定性与内部管理风险。 

基于上述分析，本文提出了H公司未来应着力实施的几个关键发展策略：强化技术研发与差异化定位、拓展国际市场、优化供应链与风险管理、增强财务管控能力，以及推进智能制造转型。研究旨在为H公司未来高质量发展提供理论支持与实践参考，也为制药装备行业企业经营管理和发展策略提供参考。

In recent years, the global pharmaceutical equipment manufacturing industry has faced numerous external challenges, including Sino–U.S. trade tensions, the impact of the COVID-19 pandemic, and accelerated technological transformation. These factors have intensified market competition and compressed industry profit margins. As a key player in China’s pharmaceutical equipment sector, H Company is confronted with multiple challenges, such as short-term debt pressure, fluctuating profitability, the need to optimize its capital structure, and intensifying international competition. To comprehensively assess H Company’s business performance and development strategy, this study adopts the Harvard Analytical Framework, integrating PEST analysis, Porter’s Five Forces model, and SWOT analysis to conduct a multi-dimensional empirical analysis from the four perspectives of strategy, accounting, finance, and prospects.

The findings reveal that, at the strategic level, H Company maintains a competitive position in the mid- to low-end markets. However, it lacks technological strength and brand recognition in the high-end segment. Strategic realignment and improved resource integration are needed to enhance its differentiated competitive edge.From the accounting and financial perspectives, although the company maintains relatively transparent financial disclosures and continues to expand its asset base, high proportions of accounts receivable and inventory indicate inefficiencies in asset turnover. These issues place pressure on liquidity and financial stability.Regarding future prospects, H Company holds growth potential if it can leverage opportunities in smart manufacturing, global market expansion, and technological innovation. However, it must remain vigilant against external uncertainties and internal operational risks.

Based on these insights, the study proposes several strategic initiatives for H Company: strengthening R&D and differentiation, expanding into global markets, enhancing supply chain and risk management, improving financial controls, and advancing smart manufacturing transformation.This research aims to support H Company’s pursuit of high-quality growth and offers valuable guidance for strategic decision-making in the broader pharmaceutical equipment industry.

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