Research On The Financial Strategy Of C Company Under The Asset-light Operation Mode

With the progress of society and the rapid development of economy,the competition is increasing in any industry.In such a fierce and cruel market environment,enterprises must explore a healthy development route in order to survive.In this context,more and more enterprises at home and abroad began to study and practice the asset light operation mode,which is a value oriented business model.The asset light operation mode is to invest the limited resources of the enterprise into the part with the highest added value on the "smile curve",so that the enterprise can be in the high added value link of the value chain,so as to obtain high income.The famous apple,Nike and other companies adopt the asset light operation mode.At present,they are the global leading enterprises in their respective fields and have achieved certain success.Then it is very important to study the financial strategy under the asset light operation mode and deeply explore whether the enterprise’s financial strategy matches the asset light operation mode.This thesis selects C company,a light asset enterprise in the NC machine tool industry,as the case object.Based on the existing relevant theories,this thesis selects the relevant financial data and information of C company from 2016 to 2020.Firstly,it expounds the concepts of asset light,asset light operation mode and financial strategy.Then,it introduces the industry of company C and the company itself,then constructs the financial strategy matrix of company C from 2016 to 2020,introduces the current situation of the financial strategy of company C under the current asset light operation mode,uses the constructed financial strategy matrix to evaluate the implementation effect of the financial strategy of company C,and puts forward the investment strategy under the asset light operation mode of company C Financing strategy,operation strategy and dividend distribution strategy.Finally,through analysis,this thesis puts forward some suggestions on the financial strategy of C company.Through research,the formulation and implementation of financial strategy under the asset light operation mode of company C has brought good operating benefits to the enterprise and helped the enterprise basically achieve the overall operating objectives.Based on favorable market opportunities and internal technical advantages,and in combination with the formulation of financial strategy,company C has formulated an investment strategy focusing on investment technology R & D and sales channels,a financing strategy focusing on equity financing,convertible bond financing,endogenous financing and commercial credit financing,and an operation strategy implementing total quality management and SBU management system,The dividend distribution strategy based on low dividend payment rate has realized the growth of enterprise scale and income level.Through the analysis of financial strategy matrix,it can be seen that the current choice of financial strategy of company C has good income performance and strong value creation ability under the current business model,but there are still problems that need to be paid close attention to by the enterprise.Company C should reduce the fixed asset investment in the Industrial Park,broaden financing channels,strengthen investment management norms and strengthen accounts receivable management,Make further improvements in supply chain management.The research innovation of this thesis is reflected in: although some researchers have studied the financial strategy under the asset light operation mode,most of the literature studies the direction of consumer goods or Internet companies,and pay little attention to the NC machine tool industry.This thesis selects the leading enterprise C company in the CNC machine tool industry as a case company to explore the financial strategy of C company from a new research perspective,hoping to provide reference for peer enterprises.