本案例由江南大学商学院的朱晋伟教授团队撰写，江南大学商学院案例中心研究员葛智杰全文改编，江南大学商学院案例中心研究员陈田田为责任编辑，作者拥有著作权中的署名权、修改权、改编权。

摘要：广西明阳生化科技股份有限公司作为国内最大的木薯淀粉生产企业，拥有74项专利，是名副其实的行业领军者。在国内经济缓慢下行与国有企业改革深化的背景下，公司发展承受了前所未有的压力。国内原材料供应持续减少、玉米淀粉等替代品的快速扩张、行业企业盲目扩张，导致行业产能利用率大幅下滑、环境污染治理加重、产量逐年下降、财务费用高企、人才流失等问题，使得公司一度出现亏损，不复当年辉煌。公司确定立足木薯淀粉生产主业，通过加强高产木薯推广与海外收购原料的方式解决原料危机，加大产品研发与营销，优化产品线，开拓高附加值与海外市场，适当进行产能海外转移，解决企业发展面临的难题。

关键词：国企改革；战略决策；多元化；跨境投资

Guangxi Mingyang Technology: The road of strategic transformation after going abroad

Abstract: Guangxi Mingyang Biochemical Technology Co., Ltd., as the largest tapioca starch production enterprise in China, is a veritable industry leader with 74 patents. Under the background of the slow decline of the domestic economy and the deepening of the reform of state-owned enterprises, the company's development has suffered unprecedented pressure. The continuous reduction of domestic raw material supply, the rapid expansion of substitutes such as corn starch, and the blind expansion of industrial enterprises led to the sharp decline in industrial capacity utilization rate, intensified environmental pollution control, annual decline in output, high financial costs, brain drain and other problems, making the company once suffered losses and no longer brilliant. The company decided to focus on the main business of cassava starch production, solve the raw material crisis by strengthening the promotion of high-yield cassava and purchasing raw materials overseas, increase product research and development and marketing to optimize the product line, develop high value-added and overseas markets to transfer production capacity overseas, so as to solve the problems faced by its development.

Keywords: Reform of state-owned enterprises; Strategic decision-making; Diversification; Cross-border investment