Tonghua Dongbao Financial Risk Analysis And Control

With the development of market economy in China,more and more uncertain factors are encountered by enterprises in their daily business activities.This also indicates that the impact of financial risk on enterprises is deepening.With the deepening of the aging population and the improvement of people's health awareness,the pharmaceutical market is gradually expanding.Foreign pharmaceutical enterprises have entered the Chinese market one after another,and quickly occupy a huge market share with high-quality and monopolistic drugs.In contrast,China's pharmaceutical industry started relatively late,and its technological level and economic strength are lagging behind those of foreign enterprises.In addition,with the improvement of the national drug supervision and management system and the increasing demands of the masses on the quality of drugs,there is a great possibility of financial risks for pharmaceutical enterprises.How to effectively avoid risks,control risks when they occur,and how to remedy them after they occur have become the main problems facing pharmaceutical enterprises at this stage.Tonghua Dongbao Co.,Ltd.is a pharmaceutical enterprise with strong comprehensive strength in China.It integrates scientific research strength,economic strength and marketing strength.This paper takes it as the object of financial risk analysis.Firstly,we study the current situation of research at home and abroad and many risk management theories,and make it as the theoretical guidance of this paper.Secondly,on the basis of analyzing its financial statements,the paper identifies and analyzes its financial risk from four aspects: financing,investment,operation and distribution.Thirdly,we use factor analysis method to select twelve financial indicators of two hundred and thirteen listed pharmaceutical companies in 2017 as a sample to make a horizontal comparison,quantify their risk ranking in the industry and make a specific analysis of their ranking;finally,we draw a conclusion that the capital structure of Dongbao in Tonghua in the past four years is reasonable,the short-term repayment ability is unstable,the investment rationality is not high,the cash ability of inventory and accounts receivable needs to be improved urgently,and the distribution system needs to be improved.We also give some suggestions on the financial risk,including strengthening the short-term solvency of enterprises,establishing investment risk management system and strengthening the management scheme of accounts receivable,in order to provide help for Tonghua Dongbao financial risk control and provide reference for other pharmaceutical manufacturing enterprises in financial risk control.