The Financial Strategy Research Under The Asset-light Operation Model For Xiaomi

With the rapid development of economy,the competition among industries is increasingly fierce.The business environment is changing.Various industries and enterprises are constantly exploring and finding their own operation mode and formulating corresponding financial strategies.The asset-light operation mode,which focuses on intangible assets and reduces inventory and fixed assets,has attracted wide attention since it was proposed.Under the background of increasing r&d investment,reducing inventory and reducing cost advocated by the government,more and more enterprises begin to transform from asset-heavy to asset-light gradually.They invest more enterprise resources at both ends of the smile curve,increase the core competitiveness of the enterprise,and gradually reduce the investment in intermediate manufacturing links,so as to achieve the purpose of using a small amount of capital to obtain more benefits and achieve the maximization of enterprise value.The Internet industry is a more asset-light operation industry.Xiaomi,as a representative of "Internet +" innovative enterprises,has achieved rapid development in recent years with its unique "hardware + Internet + new retail".Now with strategic upgrading,Xiaomi starts to implement the strategy of "mobile phone + AIoT" common development,showing good brand value and great growth potential.This paper selects Xiaomi company as the research object to analyze the financial strategy under the asset-light operation mode.On the one hand,it can summarize the financial strategy characteristics of asset-light operation enterprises.On the other hand,this paper analyzes the financial strategy,discusses the problems existing in the financial strategy under the operation mode,and puts forward Suggestions on this basis.Firstly,this paper expounds the research background and significance,and sorts out relevant researches on asset-light operation mode and financial strategy by domestic and foreign scholars.Secondly,it introduces the concept and theory of asset-light operation mode and financial strategy.Furthermore,it analyzes the asset-light operation mode and the characteristics of asset-light operation of Xiaomi.Then from the three aspects of financing strategy,investment strategy and operation strategy,this paper analyzes the financial strategy of Xiaomi under the asset-light operation mode.Finally,it analyzes the problems of financial strategy and puts forward the countermeasures to improve financial strategy.In the specific analysis of Xiaomi's financial strategy,this paper analyzes several rounds of equity financing and debt financing strategies from the perspective of equity financing and debt financing.In terms of investment strategy,this paper analyzes the increasing investment in research and development,the investment in ecological chain and the investment in sales from the two perspectives of investment in research and investment in sales.As for the operation strategy,it also analyzes the operation strategy of Xiaomi from the two dimensions of r&d and sales.Thirdly,through the analysis of the financing strategy,investment strategy and operation strategy of Xiaomi's asset-light operation mode,this paper finds the problems existing in Xiaomi's asset-light operation mode.These include constraints on solvency;Less r&d investment;In the operation of accounts receivable turnover rate decline,taking up a lot of funds and production outsourcing quality problems;Finally,this paper puts forward countermeasures from three aspects of investment strategy,financing strategy and operation strategy.The enterprise should strengthen the product research and development investment,enhances the core competitiveness.At the same time,financing risks should be strictly controlled and financing channels should be widened to ease the financing pressure.In addition,the supply chain enterprises should be carefully selected,while improving the accounts receivable turnover rate and appropriate hunger marketing.I hope that Xiaomi can make better development on the basis of the existing favorable conditions.At the same time,it is hoped that this paper can provide some reference and guidance for other asset-light enterprises in their strategic choice and development.