Research On Financial Strategy Performance Under Asset-light Business Model ——Based On The Case Analysis Of Heilan Home Co.,Ltd

On the one hand,with the development of the Internet and the change of consumption concept,in recent years,the traditional garment industry has undergone continuous changes in social development,and the innovation and development of the business model of garment industry enterprises has gradually become the focus of research.On the other hand,with the increasing attention to the concept of "Asset-light",many enterprises begin to turn their attention to the asset light business model and devote more energy to the improvement of "soft power".As an important part of the Asset-light business model,resource allocation puts forward corresponding requirements for the enterprise's financial strategy when the enterprise chooses to turn to the Asset-light business model.Then,what are the requirements of the enterprise's business model,especially the Asset-light business model,for the enterprise's financial strategy? In other words,how do enterprises formulate and adjust their financial strategies to improve enterprise performance in combination with Asset-light business model?On the basis of summarizing the existing literature,this paper establishes the logical chain of "business model ? financial strategy",takes Heilan Home,a representative enterprise of Asset-light business model in the garment industry,as a specific case,and puts forward two core research purposes: first,how does the enterprise's business model,especially the Asset-light business model,affect the enterprise's financial strategy.Second,combined with financial performance,it tests the matching operation of Asset-light business model and financial strategy,and evaluates the operation effect more intuitively.Firstly,the paper summarizes the existing literature on business model,financial strategy and financial performance,so as to lay the foundation for the construction of the follow-up theoretical framework.Secondly,according to the principle of the interaction between business and finance,this paper constructs the theoretical model of business model and financial strategy.At the same time,it uses the wall scoring method of financial performance to construct the evaluation system in four aspects.Third,according to the theoretical framework of the third chapter,the specific cases are analyzed and evaluated.Finally,through the results of case analysis,summarize the relevant experience and draw enlightenment.In terms of theoretical value,based on the six element model of business model of Wei Wei and Zhu Wuxiang,this paper introduces financial strategy,further summarizes the business model,and divides it into three levels: profitability,resource allocation and value.In terms of practical value,firstly,the business model is not isolated.When enterprises create value through this path,they need to formulate appropriate financial strategies.Investment,financing and dividend distribution are important components of financial strategy.The formulation of investment strategy needs to take the content of business model as the core,and the financing strategy is determined by the investment strategy.Dividend distribution determines the internal driving force for the development of future business model.Therefore,financial strategy and enterprise business model are inseparable.Secondly,financial performance can evaluate the financial strategy under the asset light business model from four aspects: profitability,asset quality,debt risk and business growth.Thirdly,Heilan Home adopts the asset light business model,which matches its financial strategy and is effective for its performance improvement.The capital structure of Heilan Home is stable,which can provide sufficient financial support for its diversified expansion and market share.At the same time,under the background of the overall decline of the garment industry,Heilan home stands out among many garment enterprises with considerable growth in operating revenue and net profit,which shows that its corresponding financial strategy can realize the longterm stable and sustainable development of the enterprise.