The group s mainframe systems integration ( si ) operations have also experienced a slow - down in growth rate after years of robust expansion . falling gross margins on hardware sales coupled with the increasing cost of financing due to the tight credit policies of vendors , have compelled the division to gradually shift its principal business focus from hardware integration to maintenance and service provision and to applications development 集团的大型主机系统集成业务经过多年的高速扩展，增长开始放缓。硬件产品的毛利持续下降，财务成本亦因供应商收紧信贷而日益上涨。部门有见及此，已逐步将其业务重心由硬件集成转移至系统维修、支援服务及应用方案开发。
On the one hand we consider that the small scale , the higher cost of financing , the wrong orientation in the financial market are reasons that bring the risk . , on the other hand we consider that the limitation of system , the unfair policy between the small and medium size banks and the state owned banks , the economy environment are reasons that induce the risk 认为从内部来讲偏小的经营规模、过高的筹资成本、市场定位的偏离；从外部来讲体制建设上的缺陷、国家政策的不公正待遇加上不利的外部经济环境都是目前中小银行经营困难，金融风险加大的原因。
However , the scene behind this feverish tide is freezing cold . " after considering the cost of financing , many buyers sustained loses in their purchases although the m & a kept prosperous . " from 1972 to 1988 , only 23 % of the 116 largest m & a were valid and 61 % failed 然而，狂热背后是一道冰凉的风景， “尽管收购持续繁荣，在考虑了融资成本之后，许多收购还是令买主赔了钱” (胡克) ；而1972 - 1988年间，英美两国最大116项并购案中仅有23是有效的，失败率却达61 。
