Research On Financial Performance Of Haitian Flavor Under Asset-light Operation Mode

Throughout the development of China’s economy in the 21 st century,the living standard and consumption level of Chinese residents are improving year by year,and condiments have become an important part of people’s daily food consumption.According to the interpretation report on the development of condiment industry released by China Food Industry Association in 2021,we can know that the development of condiment industry is stable and the overall value of products is increasing year by year.Due to the influence of various external factors,such as the novel coronavirus,some enterprises went bankrupt and product consumption decreased.However,the continuous growth of household consumption has made condiment products popular,especially the development momentum of leading enterprises.In economics,investment,consumption and export are the "three carriages" that drive economic growth,among which consumption has become the main driving force for economic development at this stage.In recent years,under the new development pattern of domestic and international dual-cycle,condiment,as a necessary product for people’s livelihood,has given play to its industrial advantages,and at the same time,it has met the needs of consumers for delicious food and the pursuit of a better life,which has attracted more and more enterprises to join in it,while condiment enterprises,as participants in processing and manufacturing,take R&D products and raw material procurement as the upstream of the industrial chain,Taking production and storage as the midstream of the industrial chain,and taking multi-channel consumer terminals as the downstream of the industrial chain,different enterprises have different requirements and procedures for the industrial chain,so the business models adopted are different.As a relatively new enterprise management mode,asset-light operation mode has been adopted by many seasoning enterprises.As a leading enterprise in the seasoning industry,Haitian Flavor has implemented asset-light operation mode for a long time.Based on this,this paper takes Haitian Flavor,which implements the asset-light operation model,as the case company,selects the data in the annual report of Haitian Flavor from 2017 to 2021 as the main basis for the case analysis,analyzes its characteristics and financial characteristics under the asset-light operation model,and analyzes the impact of the asset-light operation model on the financial performance of the enterprise by comparing its financial indicators and economic value added with Qianhe Flavor,which implements the asset-heavy operation model,And put forward optimization suggestions.The following conclusions can be drawn from the research:Haitian Flavor mainly realizes asset-light operation mode by relying on brand positioning,internal financing and sales channels.Under the light asset operation model,Haitian Flavor Industry has problems with unstable brand value,weak product research and development design,and low operational efficiency.Based on this,three improvement suggestions are proposed to maintain the reputation of "time-honored brands",strengthen product research and development design,and improve operational efficiency.