Research On Profit Model Of Hengrui Pharmaceutical Under Asset-Light Operation

The pharmaceutical industry is an important part of China’s national economy,and also a strategic emerging industry related to the people’s livelihood,economic development and national security.With the development of social economy,people’s health awareness and health care needs continue to strengthen,coupled with the deepening of the reform of the medical system,the pharmaceutical industry as a whole has made phased progress.But at the same time,the state and local centralized volume procurement hierarchical,generic drug price faster;Innovative drugs entered the list of medical insurance and homogenized competition intensified;Coupled with the impact of the novel coronavirus epidemic,this series of phenomena persist,putting pressure on corporate profits and bringing great challenges to the pharmaceutical manufacturing industry.At this time,it is particularly important for pharmaceutical enterprises to choose what kind of operating model to create development space for profit.As a new development strategy of enterprise transformation,the asset-light operation mode is the only choice for high-tech enterprises.Asset-light profit model can help enterprises determine the core business content,so as to establish profit barriers,and point out the direction for the production,management and development trend of pharmaceutical enterprises.The research object selected in this paper is Hengrui Pharmaceutical,a representative enterprise in the pharmaceutical manufacturing industry.By actively exploring the asset-light operation mode,it establishes the asset-light profit model and provides a strong guarantee for the development of the enterprise.Therefore,it is of great theoretical significance and practical value to study the development of the profit model under the asset-light operation of Hengrui Pharmaceutical.First of all,this paper introduces the background and significance of the topic.Then,it uses literature research method to sort out relevant materials about asset-light profit model at home and abroad,reviews the literature,and defines the concepts of asset-light and profit model involved in this paper.It also expounds the core competitiveness theory,smile curve theory,value chain theory and other related basic theories.Secondly,this paper uses case study method,financial analysis method,comparative analysis method and Wohl score method to analyze the target enterprise,including the characteristics and motivation of Hengrui Pharmaceutical asset-light operation.This paper expounds the status quo of the asset-light profit model of Hengrui Pharmaceutical and analyzes it based on four elements of the profit model.Then,the financial effect analysis of the asset-light profit model of Hengrui Pharmaceutical was carried out.Unilateral analysis included capability analysis and profit quality analysis,and comprehensive analysis was comprehensive score analysis under the Wall score method.Finally,based on the above analysis results,the following conclusions are drawn: First,the asset-light profit model of Hengrui Pharmaceutical has played a boosting role in its own development and has valuable experience.Second,Hengrui Medicine in the operation of the asset-light profit model there is a fly in the ointment.Based on this,suggestions for enterprise optimization are put forward to improve enterprise inventory management,increase product sales,optimize accounts receivable management,expand customer groups,strengthen drug patent research and development,strengthen profit barriers and pay attention to human resources reserve,strengthen competitive advantages.Pharmaceutical manufacturing enterprises mainly focus on research and development and marketing,which is a typical asset-light profit model.Therefore,it is typical to select Hengrui Pharmaceutical,a giant pharmaceutical company,as the research object in this paper for case study,and add Wall score method for comprehensive financial analysis,in order to provide reference for improving its own business development.It also hopes to provide reference for other enterprises in the same industry to choose business models and establish profit models.