Research On Financial Risk Control Under ChinaLiterature's "IP Industry Chain" Operation Mode

Tencent Group put forward the concept of "new cultural creativity" for the first time in 2018,and other Internet leading enterprises such as Alibaba also followed suit,emphasizing the virtuous circle of cultural and commercial values,building a "IP whole industry chain"covering Internet cultural products and their derivatives with "IP" as the core,and creating a unique cultural symbol representing China.For the development and growth of enterprises,most cultural and creative enterprises will seek to expand the industrial chain,invest or acquire other enterprises,but the synergy effect in the process of integration is poor,which may lead to risks such as capital chain breakage.In particular,compared with other industries or types of enterprises,financial risks are more likely to occur.Therefore,cultural and creative enterprises urgently need scientific and standardized financial risk control activities.ChinaLiterature has a relatively perfect industrial layout among the literary and creative enterprises that also implement the operation mode of "IP industrial chain".In recent years,he has frequently adopted investment,mergers and acquisitions and other ways to expand the industrial chain,while the acquired Xinli Media and other enterprises have not brought ChinaLiterature the expected income,but brought it financial risks.This paper studies the financial risks faced by ChinaLiterature's layout of "IP industrial chain",which can bring enlightenment to other creative enterprises in terms of financial risk control when laying out "IP industrial chain".By using the methods of literature research,case analysis,factor analysis and other quantitative analysis tools,this paper analyzes the financial risks arising from fund-raising activities,investment activities and capital operation activities under ChinaLiterature's "IP whole industry chain" operation mode based on industry chain theory,diversification theory and risk management theory.By comparing ChinaLiterature's financial data with the industry average,and combined with ChinaLiterature's specific path of implementing the "IP whole industry chain" operation model,the paper holds that the causes of its financial risks lie in the imbalance of debt structure,unstable business income of various sectors,backlog of film and television works and poor management of accounts receivable and so on.On this basis,for ChinaLiterature's layout of "IP industrial chain",the paper respectively puts forward some suggestions to strengthen fund-raising risk,investment risk and capital operation risk control,such as reasonably arranging long-term and short-term debt,focusing on IP development,establishing top-down business process,improving inventory management level and so on.ChinaLiterature's financial risks arising from the layout of the "IP whole industry chain"operation mode are also common in other cultural and creative enterprises.Through the study of ChinaLiterature,it can provide some reference and basis for other cultural and creative enterprises to strengthen financial risk management and control.