Research On Performance The Working Capital Management Of Jiangsu Yanghe Brewery Joint-Stock Co.Ltd

With the acceleration of the process of reform and opening to the outside world,the consumption ability and living standard of residents have been flying over and over.People begin to pursue spiritual enjoyment on the basis of material satisfaction.This has brought great opportunities for Chinese liquor retailing enterprises,and the Chinese white wine retailing enterprises continue to expand and merge depending on their strong strength.From hundreds of shops to thousands of stores,from one region to the whole country.At the same time,more and more foreign brands have entered the Chinese market,which makes the competition in the domestic liquor enterprises increasingly fierce,the competition of the liquor retail market is becoming increasingly hot,and the integration of the industry is becoming more and more rapid.Among the various assets of the enterprise,working capital has the most important position.Good operating capital management level can improve the utilization ratio of the company's capital.The level of operating capital management determines whether there is enough cash flow to support the enterprise in the process of growth and growth.It is related to the future of the enterprise.The reform of the management of capital capital is imminent.As the leader of the liquor retailing industry,the Jiangsu the Yanghe River distillery Limited by Share Ltd(hereinafter referred to as the Yanghe River shares)is an international liquor enterprise integrating R & D,production,marketing and service.This paper combines theoretical analysis with case study,takes the the Yanghe River stock of liquor producing enterprises as the research object,first introduces the background and significance of the research,the status and review of the domestic and foreign research and the related theory of working capital,and then analyzes the current situation of the stock operation capital management in the Yanghe River,according to the the Yanghe River stock in 2012-2016 years.The data provided by the financial statements: first,based on the point of view of the Yanghe River stock operating capital structure and inventory,accounts receivable,accounts payable turnover period analysis;two is based on the channel angle to the level of the Yanghe River stock operating capital management reanalysis and cycle period evaluation,and choose the leadership of the liquor industry.The 2012-2016 year financial data of Guizhou Moutai were compared and analyzed.Secondly,it is found that there are some problems in the management of the Yanghe River's stock operating capital: the management does not pay enough attention to the management of working capital;the structure of the current assets is not reasonable;the structure of the current liabilities is not reasonable;the account receivable turnover is long;the operation capital of marketing channels is too much;and the management level of capital management is low.Finally,according to the results of the previous analysis,some suggestions are put forward to improve the management consciousness of operating capital management;to adjust the scale and structure of the mobile assets;to adjust the structure of the current liabilities to reduce the risk;to accelerate the turnover of accounts receivable;and to optimize the marketing channels;Reasonable reduction of money holdings.It is hoped that this study can provide a series of management solutions for the current situation of the enterprise's own operating capital management,and can also enrich the practical case of the research on operating capital management of the listed companies in the liquor industry,and also provide some reference for similar enterprises to improve their working capital management ability and core competitive power.