Research On Financial Risk Of T Tourism Listed Company From The Perspective Of Diversification Strategy

With the advent of the mass tourism era,China's tourism industry has gradually become a new growth point for China's economic development with its rapid development momentum.Data show that in 2018,the total tourism revenue reached 5.97 trillion yuan,an increase of 10.5% year-on-year.According to preliminary estimates,the national tourism industry contributed to GDP 9.94 trillion yuan,and the contribution was about 11.04% of the total GDP.Tourism directly employed 28.26 million people,and tourism directly and indirectly employed 79.91 million people,accounting for 10.29% of the country's total employment.As the backbone of the tourism industry,China's listed tourism companies have become a new area attracting market capital with their strong overall strength and huge development space.However,while the entry of a large amount of capital promotes the rapid development of tourism enterprises,it also intensifies the competition among tourism enterprises,which brings certain financial risks to the enterprises.Fierce external competition and a high ratio of assets to liabilities have hindered the improvement of corporate operating efficiency.Risks and benefits coexist,and effective control of financial risks is an effective way to ensure the long-term development of tourism enterprises.Facing the changes in the external environment,its own business situation has been severely challenged.The management of the T enterprise has analyzed the internal and external environment and adjusted its development strategy in a timely manner based on its own advantages.The diversified strategy of development,operation,and service is intended to achieve rapid development through the diversified strategy.Based on the theory of diversification strategy and financial risk management,this article first conducted a case study of T Tourism listed companies,and introduced the contents of diversification strategy and financial risk.Then,through the data of recent 5 years of the T-listed companies,its financial risks in financing,investment,operation and income distribution were identified,and the single-variable indicators and comprehensive scoring models were used to evaluate the financial risks of T-listed company analysis.The analysis results showed that during the implementation of the diversification strategy,the overall financial risk level of the listed T-Tour companies is relatively high.Finally,in view of the above assessment and analysis of financial risks,this article proposed some measures to control the existing financial risks of T-tourism listed companies.