The Research On Financial Flexibility Of Kanion Pharmaceutical

With the acceleration of the global integration process and the rapid development of science and technology,the business environment faced by enterprises is more and more complicated.On the one hand,maintaining necessary financial flexibility can help companies cope with unanticipated crises.On the other hand,it also can help companies grasp favorable investment opportunities and enhance their business performance as well as value creation capabilities.Hence,how to maintain financial flexibility has become an issue that companies need to consider when making financial policy choices.Taking Kanion Pharmaceutical for example,this paper using 2007-2016 financial data,this paper analyzes the financial flexibility level of Kanion Pharmaceutical from three aspects,cash flexibility,liability flexibility and equity flexibility,and points out the merit and shortcoming of financial flexible management policy of the company.The optimization strategies of flexible financial management are put forward,namely,a moderate amount of cash flexibility,improving the capacity of the remaining debt,maintaining reasonable liability structure,optimization of dividend policy and flexible financial policy.,this paper not only provides a new perspective for government to guide the development of the industry more effectively,but also provides a certain reference for companies to improve financial flexibility management.