Research On Financial Strategy Of Hengrui Pharmaceutical Under Asset-light Operation Mode

In today’s pharmaceutical manufacturing industry,the continuous deepening of the national medical reform policy and the continuous influx of foreign pharmaceutical companies have made the domestic pharmaceutical market increasingly competitive.question.In this context,pharmaceutical manufacturing enterprises urgently need to use their own advantages to choose a suitable operation model to enhance the overall value of the enterprise.At this time,more and more industries are becoming familiar with a value-oriented operating model,namely the asset-light operating model.It uses the principle of leverage to leverage the external resources of the enterprise,so that the enterprise can invest more funds in the high value-added industrial chain,and successfully promote the upgrading and development of the enterprise to maximize its value.However,the successful implementation of an asset-light operation model is not a simple matter.Whether an enterprise implements an effective financial strategy is the key to supporting its asset-light operation model.This paper takes Hengrui Medicine as the research object,and explores the specific content and implementation effect of its financial strategy under the asset-light operation mode.First of all,this paper sorts out and summarizes the related concepts and theories of asset-light operation mode and financial strategy.Secondly,it introduces the general situation and development history of Hengrui Medicine,and analyzes the motivation and financial characteristics of its implementation of the asset-light operation model.Thirdly,this paper analyzes the financial strategy environment of Hengrui Medicine under the asset-light operation mode,and on this basis analyzes the content of its financing strategy,investment strategy,operating strategy and dividend distribution strategy.It is concluded that Hengrui Medicine focuses on internal financing under the asset-light operation mode,pays attention to high value-added links,increases investment in R&D and sales,pays attention to personnel training,and implements a financial strategy of low dividend distribution.Finally,this paper adopts the traditional index analysis method to analyze the implementation effect of Hengrui Medicine’s financial strategy,and selects the average value of North China pharmaceutical and pharmaceutical manufacturing industries,which are mainly assetheavy,as a comparison,and analyzes the four characteristics of Hengrui Medicine and North China pharmaceutical and pharmaceutical industry.Great ability,it is clear that Hengrui Medicine’s financial strategy under the asset-light operation model will play a positive role in promoting the overall development of the company.In view of the lack of consideration of the cost of equity capital by traditional financial indicators,this paper constructs a financial strategy matrix model,and draws the financial strategy matrix of Hengrui Medicine from the two dimensions of value creation and sustainable development,and concludes that Hengrui Medicine is in the stage of rapid development.There is a shortage of funds,but it is generally healthy.Based on the above conclusions,this paper puts forward the following optimization suggestions.Enterprises should adhere to the implementation of the R&Dled investment strategy,expand the strategic layout supplemented by debt financing,and deepen the asset-light operation model by means of mergers and acquisitions.I hope to provide some experience for other pharmaceutical manufacturing enterprises to implement financial strategies under the asset-light operation mode.