The Financial Strategy Research Of SM Company's Light Asset Operation Mode

With the rapid growth of China's economy and the steady increase of per capita disposable income,people's living standards are gradually improving,and there is a higher demand for clothes in daily life.In recent years,the consumption of China's apparel industry has been increasing steadily,and China has gradually become the fastest growing and most promising apparel market in the world.In the face of the vast development space of China's clothing market,many foreign brands have entered our country,and with our local clothing brands produce fierce competition.In an age of both opportunities and challenges,the traditional mass production as the core of the supply and marketing integration mode has been unable to provide core competitiveness for the development of clothing enterprises,attaches great importance to the choice of operation mode become the inevitable requirement to the further development of enterprises,asset light as a new operation mode received extensive attention of the enterprise,combined with some foreign garment enterprises to provide success stories and experience,our country's enterprises in order to adapt to market changes,to ensure long-term stable operation began to change operation mode,select asset light mode to run.This paper selects SM company,which operates in the asset-light mode,as the research object.Firstly,through consulting relevant literature and books,it summarizes the concepts and characteristics of asset-light mode and financial strategy,and sorts out the basic contents of financial strategy in the asset-light mode.Secondly,the status quo of SM's financial strategy is analyzed from the aspects of financing,investment,operation and dividend distribution.Again,select the key financial indicators of SM company current financial strategy implementation financial effect is analyzed,based on the SM company profit ability,debt paying ability,operating ability and growth ability analysis,found the SM company's current financial strategy exists in the financing way of the single,low investment,operation cost is higher,and the problem of high rate of dividend payment;Then,based on the development status of SM company,the paper puts forward Suggestions on developing diversified financing,operating high-return investment strategy,low-cost operation strategy and reducing dividend payment rate.Finally,the thesis makes a summary and outlook.This paper analyzes and studies the financial strategy of SM company under the asset-light model and puts forward Suggestions for improvement,hoping to help SM company improve its financial strategy and achieve better development,and at the same time provide experience for other similar enterprises adopting the asset-light model.