Research On Financial Risk Control Under The Operation Of Heilan Home Light Assets Mode

The light asset operation mode refers to an enterprise that masters the core technology,brand advantage or strong management capability,and leverages its own light assets as a lever to occupy a higher value-added link in the value chain to incite high-profit operation.China's garment enterprises adopted the light asset operation mode earlier.Simply put,the light asset operation mode of the garment industry is to outsource part or all of the manufacturing process of the garment.According to the degree of enterprise participation in the design,it can be divided into OEM mode and ODM mode.However,the light assets operation of China's garment enterprises is not smooth.Some enterprises such as ITAT and PPG have disappeared after exploding development.Later,some light-asset-operated garment enterprises such as Meibang,seven wolves and Heilan Home survived.Although the family survived in the fierce market competition,it gradually exposed a series of financial risks.Taking Heilan Home as an example,this paper deeply analyzes the application status of its light asset model and its existing financial risks,and then thoroughly studies the causes of financial risks in its operating model and puts forward corresponding risk control recommendations.This paper is divided into six parts.The first part mainly introduced the background and purpose of the research content and the research status of light asset model and financial risk at home and abroad.The second part expounds the basic theory of value chain theory,smile curve theory and risk management theory.The third part specifically analyzes the application status of Heilan Home's light asset model;the fourth part first analyzed the financial risks existing under the light asset operation of Heilan Home,and then analyzed the reasons of the financial risks;the fifth part puts forward corresponding control suggestions for the financial risks and causes of the morning study;the sixth part is the summary and outlook of the full text.Through a detailed study of the financial indicators under the light asset model operation of Heilan Home,this paper finds that Heilan Home has financial risks in investment,operation,debt repayment and income distribution.These risks are mainly due to the rapid expansion of Heilan Home's stores and the low R&D investment,which leads to the inventory management level not keeping up with the gradually expanding enterprise scale,insufficient product cost control,and the use of high dividend distribution policies,resulting in tight capital flow..This paper believes that Heilan Home should control financial risks from the following aspects:for investment risks,it should strengthen the feasibility analysis of investment projects,strengthen cost control,and increase R&D investment;for operational risks,it should improve the judgment of inventory holdings and play The inventory processing capacity of each sales platform;for the debt repayment risk,a diversified financing method should be created;for the distribution risk,the dividend distribution rate should be reduced.