Research On Financial Risk Management Of Z Company Under The Background Of Capacity Reduction

In recent years,due to a series of impacts such as slowing economic growth,energy restructuring,energy conservation and emission reduction,China's coal market has become very sluggish,with serious overcapacity and imbalance between supply and demand.In order to solve the above difficulties,since 2015 countries successively promulgated "about resolving contradictions of severe overcapacity guidance" on the coal industry solve the excess capacity to achieve to erase the opinions of the development,the coal industry development "much starker choices-and graver consequences-in planning and a series of relevant documents,to the capacity of coal enterprises in China from the policy adjustment.At present,how to identify the financial risk of coal enterprises under the background of cutting capacity,how to evaluate the risk,and how to manage and deal with it under the background of cutting capacity,is extremely urgent for coal enterprises in the new market environment.Therefore,based on an overview of the development status and financial status of the whole coal industry under the background of capacity reduction,this paper selected company Z as the research object and analyzed the financial risk changes of the company under the background of capacity reduction according to the process of financial risk management.Begin from financing,investment process and operation process of Z,which can identify the company's financial risk to the financial risk of Z company specific evaluation and overall evaluation,found that the company is unreasonable debt structure,debt paying ability weak level,instability,project investment profit,profit coal sales revenue decline,poor quality of accounts receivable,the last three risk control measures are put forward: one is science and control the financing scale,various financing channel choice;Second,control the investment expenditure of advanced production capacity and rationally plan the investment structure;Third,formulate reasonable coal marketing strategy,strengthen accounts receivable management.It is hoped that the above research can provide guarantee for the stable operation of the company,optimize the existing financial risk management system,and provide certain reference significance for the financial risk management of the entire coal industry in the context of capacity reduction.