Research On Financial Causes And Countermeasures Of Capital Chain Fracture Of Hna Holdings

Over the years,countless enterprises have failed to control the normal operation of the capital chain,resulting in financial risks,capital chain crisis,production and operation interruption and other problems.Only when enterprise funds can circulate healthily can enterprises "have" healthy "blood and have the ability to further develop and increase enterprise value.Otherwise,enterprise development is out of the question.Then,how can enterprises manage funds to promote the healthy and stable development of enterprises? A very important way is to learn from it.By analyzing and studying the capital chain fracture of HNA Holdings,which used to be one of the four major airlines in China,this paper puts forward targeted solutions for HNA Holdings to get rid of the crisis,and provides some reference for other airlines’ capital chain management.This paper takes HNA Holdings as the research object,takes the break of HNA Holdings’ capital chain as the main research content,reviews the break process of HNA Holdings’ capital chain,and explores the financial causes of HNA Holdings’ capital chain break from four aspects: financing,capital operation,capital withdrawal and capital chain risk early warning with the theory of capital circulation,risk management and sustainable development.Through research,it is found that HNA Holdings has some problems,such as over-reliance on debt financing,maturity mismatch,large proportion of illiquid assets investment,over-expansion,insufficient operating cash flow and related party transactions occupying funds,among which over-expansion and over-reliance on debt financing are the fundamental problems that lead to the break of HNA Holdings’ capital chain.Through the study of HNA Holdings,it is found that enterprises should strictly control their cash flow and grasp their financial risks while pursuing expansion.Aiming at the problems existing in HNA Holdings,this paper puts forward some countermeasures,such as optimizing the financing structure,rationally operating funds,accelerating the withdrawal of funds and improving the financial risk early warning mechanism,so as to help HNA Holdings get rid of the crisis smoothly,reduce its economic losses and provide some reference for the healthy development of the aviation industry.In order to get out of financial difficulties,HNA Holdings has actively taken a series of measures,such as reducing non-main business,selling some assets,and carrying out bankruptcy reorganization.In 2021,the net profit loss has been greatly narrowed.Due to the internal structure adjustment of bankruptcy reorganization,all kinds of debts have been paid off one by one,and the compliance problems of enterprises have also been solved.HNA Holdings is moving towards benign development.From 2019 to 2021,due to the influence of COVID-19,the overall economy of the civil aviation industry was depressed.However,HNA Holdings insisted on providing quality services,and its business volume was almost the same as that of other peers,which was also a positive signal that HNA Holdings could recover.After the rectification of HNA Holdings,it was successfully "uncapped" on September 30,2022,and changed from ST HNA Holdings to HNA Holdings.With the end of the COVID-19 epidemic in 2023,the prospect of HNA Holdings will be better.