A Comprehensive Evaluation Of Working Capital Management Performance And Financial Risk Of S Group Under Similar Financial Model

In the context of achieving carbon peaks,carbon neutrality,and targets,the high-quality economic development is advocated.The traditional automobile industry conflicts with the concept of "dual carbon" with high resource consumption and high emissions for high-speed development.In the face of the reorganization period,in the competitive environment that emphasizes green transformation,the new energy vehicle industry is expected to usher in development opportunities.Explore forward,and the self-developed technology,scale expansion and green transformation of enterprises require a lot of funds.The source of funds,use costs,effective management,and financial risks are issues that enterprises need to solve the problem of enduring.The source of operating funds affects the costs and risks of corporate operations.Due to the advantages of flexible fundraising,low limit,and low explanatory cost due to the Similar Financial model.It has reduced the threshold for enterprises to obtain funds and meets the capital needs of business expansion.However,the channels for raising funds for enterprises are only opened.The management capacity of operating funds is the key to the continuous operation of the enterprise.In addition,there are certain risks in any financing method,but this model is still in the preliminary application stage in the automotive industry,and its implicit risk still needs to be discussed in depth.Therefore,this article aims to test the Similar Financial model of the category on the basis of the automotive industry,and analyze the level of operating funds in this model from the "elements" and "supply chain" dual perspectives.The reason for the analysis indicators of the relationship between the epidemic background,the core enterprise of the supply chain and the upstream and downstream,compare the advantages and disadvantages of the evaluation methods in the two perspectives,and give a comprehensive evaluation of the S Group’s financing model,capital management level,and financial risks.Studies found that(1)Evaluation in the perspective of factor management cannot reflect the true situation of the enterprise,and the use of various factors to evaluate the operating capital management performance of various factors will cause contradictions between the indicators when the performance of the operating funds of the enterprise.The flow ratio,speed ratio,and financial leverage will also distort the financial risks of the Similar Financial model;(2)Although the evaluation of the element management perspective cannot truly reflect the business of the enterprise,it can reveal the reasons for changes in things at the micro level,especially in the comparative analysis of the two perspectives,it is easier to be easier The abnormal changes of the indicators can be used as an auxiliary evaluation method;through the combined analysis of the two perspectives,the analysis of the supply chain perspective makes up for the lack of overall defects in the analysis of the element,and the analysis based on the element also makes the supply chain visual angle of the supply chain vision angle.Analysis is more likely to discover abnormalities and cause attribution;(3)confirmed the application and development of the Similar Financial model in the automotive industry.It is found that the Similar Financial model of the S Group is different from the Similar Financial model of the traditional retail industry in the capital structure and operating mechanism.And the application of the Similar Financial model has broaden the financing channels of the S Group,alleviating the pressure of funds caused by the poor turnover of the S Group’s sales channels and the low-efficiency of investment projects.The level of financial risks has risen,of which operating activities and operating funds are the most severe impact on corporate financial risks(29.97%),and credit dependence is second(25.05%).The relationship also reflects the main direction of the enterprise’s financial risk control.Finally,this article also gives corresponding suggestions on the above conclusions in the aspects of optimizing evaluation methods,improving the relationship between the supply chain,and the reference and risk prevention of the Similar Financial model.