Research On Credit Risk Measurement Of Reverse Factoring Financing Business Of "Fujin ALL-LINK" System

In China,manufacturing is an important part of the national economy,automobile manufacturing as a capital-intensive industry,its competitive situation has changed from its own level of competition to supply chain level competition,how to pay as late as possible without affecting the normal operation of the entire supply chain is a problem that automakers have always wanted to solve.Foton Motor is a leading enterprise in the commercial vehicle manufacturing industry,in order to solve this problem,it has transformed and upgraded its supply chain,using its own credit and building an online platform to carry out reverse factoring financing business and solve the capital turnover problem of upstream suppliers,which is of reference significance.Based on this background,this paper studies the "Fujin ALL-LINK" system built by Foton Motor,formulates the credit risk evaluation index system of the "Fujin ALLLINK" system according to its characteristics and refers to relevant literature,and measures the credit risk of the system by combining principal component analysis method and Logistic model,which has certain practical significance and practical value.This paper mainly conducts research from the following four aspects: First,the relevant literature is summarized and the relevant concepts of supply chain finance and credit risk assessment are theoretically elaborated.Second,the main participants,operation mechanism and possible risk points of the "Fujin ALL-LINK" system are introduced.Third,according to the characteristics of Foton’s reverse factoring financing business and referring to the existing literature,15 relevant factors were selected from the four levels of financing enterprises’ own qualifications,core enterprises,supply chain cooperation degree and financing situation,and a more comprehensive and scientific credit risk measurement system was established.Then,the relevant data of 15 upstream suppliers of Foton Company in the past three years were collected,and the principal component analysis method and logistic model were combined to calculate the probability of compliance of Foton’s upstream suppliers,so as to measure the credit risk of Foton’s reverse factoring financing business.Fourth,conclusions and outlook.The results of the model show that the logistic model constructed in this paper has high accuracy in predicting the credit risk evaluation of Foton’s reverse factoring business,and Futian Commercial Factoring Company should focus on the solvency,operation,profitability,development ability and other indicators of financing enterprises.