Research On Financing Mode Under The Change Of Dairy Production Organization Mode

The melamine incident promoted the transformation and upgrading of China's dairy industry.The supervision policies of the dairy industry frequently followed,and the production organization model of free-range cultivation gradually withdrew from the market.Under the background of supply-side structural reform,China's dairy industry adapts to the new normal of economic development and through innovation.The development promotes the transformation and upgrading of dairy enterprises,and plays a facilitating role in providing financing support,adjusting development structure and supporting financial services in the construction of modern dairy system.This paper takes the dairy industry as a case study to study the financing mode changes brought about by the upgrading of production organization mode.This study first systematically sorts out the literature and results of the domestic and international dairy production organization models and financing mode changes.Through literature research and comparative analysis,this paper comprehensively reviews and summarizes the changes of milk production organization patterns and yields in China before and after melamine,and analyzes the current status of milk production in China.It is summarized into three evolutionary periods,the free-range model and the growth period in the germination stage.The farming community model and the large-scale farming model in the mature period,accompanied by the changes in the financing mode of the three aspects of private lending,integration of industry and finance,and M&A financing,respectively,through case analysis,brought about by three different modes.The changes and impacts of the financing mode have led to the following conclusions:The melamine incident has become a watershed in the transformation of milk production organization model,from the previous free-range to the large-scale farming with the main community as the main body,and is in the trend of developing to scale farms.Using quality control behavior to analyze the dairy farmers under different production organization models the impact of safe farming behavior,the HACCP analysis method was used to obtain the risk management relationship between the production organization pattern change and the milk production process.It was found that the raw milk production increased with the maturity of the milk production organization model in China.Under the free-range model,dairy farmers usually solve the problem of capital shortage turnover through private lending.The interests of all links in China's dairy industry chain are loose.The efficiency of formal financial institutions in developing financial services in rural areas is very insignificant,but private financial organizations are uneven.and contain huge risk hazard.In the competition of the new private lending mode P2 P network loan platform market,the agricultural lending platform does not occupy the mainstream of the market in terms of quantity and scale.The agricultural loan of the online lending platform is more characterized by small decentralization.In terms of operational efficiency of the agriculture-related platform,for the two P2 P network loan platform that have not reached the effective frontier,the technical inefficiency is caused by the ineffectiveness of the scale,and the scale remuneration interval is in the state of increasing scale returns,indicating that the lower scale efficiency restricts the operation.Increase efficiency and expand scale to improve efficiency.In terms of risk management of agriculture-related platforms,the measures for risk assessment of lenders and the control of borrower size control need to be further improved.Compared with urban online loans,rural online loans have natural needs and are real personal loans.Regardless of intrusive business operations and policy support,the agriculture-related online lending platform has good prospects for development.The farming structure has produced “1+N” mode,centered on core enterprises,and bundled up and down small and medium-sized enterprises,dairy farmers and consumers,making full use of financial institutions to make dairy leading enterprises and dairy farmers more closely connected.To provide credit support for dairy farmers and dairy farmers' cooperatives to protect the interests of dairy farmers and dairy enterprises,thus changing the status of dairy farmers in the vulnerable groups in the industrial chain.The credit bundling of enterprises in the middle and lower reaches of the industrial chain will transform the uncontrollable risks of individual small and medium-sized enterprises into the overall controllable risks of the whole industry chain as the capital status and information transparency of small and micro enterprises in the industrial chain.Yili Dairy and the financial industry merged to form an Internet microfinance company and a financing factoring company.Through the study of the integration of Yili Group and the financial industry,the company analyzed the impact of industrial integration on the group and found the market.It is recognized for the integration of enterprises and financial industries.As a leading enterprise,Yili has effectively solved the financing loan problem of upstream and downstream partners through the “1+N” financing mode constructed by industry and finance,and successfully coordinated the sustainable development of industrial chain partners.Under the general trend of large-scale farming mode,the tide of mergers and acquisitions of dairy enterprises has been driven.As the country reorganizes existing dairy processing enterprises and tightens its market access rules,large-scale dairy enterprises through acquisition,financing,asset restructuring and other means.To strengthen the scale of the company,the future development trend will be to eliminate small and medium-sized enterprises without industrial competitiveness,and the market share of first-line brand enterprises is highly concentrated.Mengniu invested modern farming twice is that modern farmland has realized the cultivation of grassland from the source and the large-scale dairy cow rearing.The EVA value of the two new stocks has increased significantly,indicating that Mengniu has increased its share of modern animal husbandry.Mergers and acquisitions to increase market concentration.China's dairy mergers and acquisitions financing methods are relatively single,relatively small scale,and still focus on equity financing.In the choice of financing methods and financing tools,it is still necessary to find new breakthroughs to solve the source of funds.The expansion of financing channels is not smooth enough.The payment methods and financing channels for mergers and acquisitions are relatively simple.The role of capital market in supporting mergers and acquisitions has not been fully utilized.