| As an important coal enterprise in Shanxi Province,HY Group has always relied on coal products as the traditional main profit point,and established a high-quality anthracite brand in the past,becoming a representative comprehensive coal industry group in the industry.However,in recent years,the coal industry is limited by supply and demand,market competition,national policies and other aspects,so it is more and more difficult to make profits.The transformation of major coal enterprises is imminent,and it is urgent to find a new way out of coal and create new business growth points.Under the historical background of transformation and development of coal enterprises,HY Group seizes the good opportunity of sustainable development,further integrates high-quality coal resources,and strongly enters into the field of new materials.However,in the face of new industries,relying on the traditional profit model can not meet the needs of new development.In terms of financial risk,HY Group still has many problems in investment and financing,operating profit,strategic management and control,capital loans and so on.Therefore,it is necessary to identify,evaluate and avoid the financial risk points of enterprises,so as to help enterprises cope with opportunities and challenges and promote the success of transformation.This paper takes HY Group as the research object,based on a large number of domestic and foreign research status of financial risk management,especially on the research status of coal enterprises,uses industry life cycle theory,diversification strategy theory,financial risk management theory to study financial risk management.First of all,with the help of Harvard analytical framework theory,from the four dimensions of strategy,accounting,finance and prospect,combined with the financial data of HY Group’s main coal business in recent five years,the financial status of HY Group in strategic planning,accounting policy and estimation,financial management,future prospects and other perspectives is analyzed by using trend comparison method and comprehensive evaluation of internal and external factors.Secondly,it reveals the risk points existing in the four levels of the enterprise,and uses the F-score model to calculate the five corresponding indicators and the numerical change trend of F value,so as to get the overall financial situation of the enterprise,sort the risk points,and finally get the risk points that need to be focused on.Finally,the paper puts forward the point-to-point,multi-level,practical and effective strategies to avoid financial risks for HY group,so as to help enterprises prevent existing and potential risks.The research conclusions are as follows:(1)HY Group’s overall financial situation is better;(2)HY Group has different financial risks to a certain extent in strategic planning,asset quality,investment income,prospect direction and other aspects,so we need to focus on the two risk points of poor profitability and insufficient solvency;(3)HY Group can prevent risks from the following aspects: it should broaden the profit points,formulate diversified strategic planning,supervise the risk points of assets and liabilities in the whole process,and pay attention to the early evaluation of scientific and technological research and development,so as to effectively avoid the crisis caused by the transformation.This paper analyzes the financial risk of HY Group,measures its depth,analyzes its cause and effect,seeks continuous innovation on the existing system standards,and formulates effective and feasible measures to make up for the loopholes of financial risk.On the one hand,it can help enterprises establish a scientific and reasonable financial risk management system,which is conducive to the more stable development of enterprise financial activities,On the other hand,it can prevent enterprises with similar industrial structure from being hit by market flood,generate financial crisis,and cause immeasurable huge losses.Meanwhile,it can keep strong competitive advantage,and provide as accurate reference for the steady progress of coal enterprise reform. |
