Research On Financial Risk Prevention And Control Of Gree Electric’s Mixed-Ownership Reform

Mixed ownership economy plays an important role in our national economy.In recent years,as the scope,scale,and depth of reforms have expanded to varying degrees,the mixed-ownership reform has now entered a deepening stage of tackling difficulties.The 14 th Five-Year Plan puts forward new requirements for the reform of state-owned enterprises,and effective checks and balances of corporate governance should be adopted to deal with various risks.In the process of exploration and practice of mixed ownership reform,the pre-identification and prevention of financial risks play a key role in the success of mixed ownership reform.Taking the principal-agent theory,corporate governance theory and risk management theory as the theoretical basis of the research,adopting the method of case study,choosing Zhuhai Gree Electric Co.,Ltd.(hereinafter referred to as "Gree Electric"),which has experienced multiple mixed reforms,as the case object.First,introduce the background of the mixed reform of the home appliance industry and the basic situation of Gree Electric,as well as the history of Gree’s multiple mixed reforms,and clarify the specific process of introducing strategic investors to carry out the mixed reform this time.Then,according to the financial risk characteristics of mixed-ownership enterprises,the financial risks are identified,and Gree Electric’s financial risk prevention and control measures are analyzed from the perspective of corporate governance,and the Z-score model is used to evaluate Gree’s financial risks.The relevant financial indicators,business data and Specific measures to evaluate the performance of its financial risk prevention and control,and put forward optimization suggestions.Through the analysis,it is found that in the process of mixed-use reform,all stakeholders are oriented to strategic goals at all times,and through the checks and balances of rights,smooth capital replacement is realized without causing new financial risks.At the same time,the mixed reform matches strategic investors based on strategic needs,and cleverly designs the ownership structure and control structure,forms a balanced corporate governance structure,and constructs a stable financial risk prevention and control environment.After the mixed-use reform,Gree Electric Appliances’ financial risk buffering ability and recovery ability have been enhanced,and it is more flexible,flexible and resilient.Some experiences and inspirations are summarized from the results,which are expected to be helpful to the mixed ownership reform of state-owned enterprises in the future.