| Enterprises’ financial risks in different periods were different. Financial risks would result in business cash flow difficulties and decreased solvency. moreover, it would lead to corporation bankruptcy. In recent years, Chinese scholars have paid more and more attention to financial risk management, who proposed financial risk research methods suitable for the development of Chinese enterprises and markets.Although short-term prosperity of the domestic market once concealed some problems, the world’s shipbuilding industry was declining, and shipbuilding industry was facing unprecedented crisis. RSHI has been in a period of losses since 2011,influenced by the industry and many other factors, finally financial risk problems began to emerge. Firstly, this paper introduced research background, meaning, and the domestic and foreign research situation, and organized the theory basement of financial risk management. Secondly, RSHI as case was analyzed, meanwhile, the based situation, industrial situation were simply introduced. Besides, the theory analysis of financial index and financial risk were combined to calculate cash flow,earning capacity, solvency and shareholder return of its nearly four years. Thirdly, the reasons resulting in financial risks keeping a high situation were indicated, including improper usage of funds, unreasonable liability structure, falling ability to raise funds and excessive dependence on government subsidies. Finally, some corresponding control measures of financial risks were proposed from three perspectives of innerenterprise, governmental relations, the market, aiming at above every reason.RSHI was the leader of private shipbuilding industries in our country, and our country had many similar large enterprises, therefore, the selection of this case was meaningful. Through analyzing financial risks of enterprises at present stage, some scientific control steps of financial risks, provide a reference to managers of enterprises. |
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