Financial Risks And Countermeasures Of HISCO Under Light Asset Operation

In recent years,great changes have taken place in the business environment of the pharmaceutical industry.The promulgation of the new version of GMP and the "two ticket system" policy,the reform of the "three medical linkage" medical and health system,the purchase of drugs with quantity,the reform of medical insurance payment and other policies have made the development direction of the pharmaceutical industry towards innovation,and many enterprises in the industry begin to pay attention to R &D innovation,Gradually transform from traditional business model to asset light operation model,invest funds in R & D and marketing with high added value in the value chain,and pay attention to intellectual capital such as R & D technology,marketing channels and brand construction.Asset light operation mode is a value driven strategy,which is conducive to improving the core competitiveness of enterprises and bringing greater profit space to enterprises,but the inherent risks can not be ignored.Firstly,this paper combs the relevant literature and theories on asset light operation mode,and makes a brief introduction to HISCO enterprises that adopt asset light operation in pharmaceutical manufacturing industry;Secondly,it summarizes the motivation and implementation ways of HISCO’s asset light operation;Thirdly,it analyzes the financial data of HISCO from 2014 to 2020,identifies the financing risk,investment risk and operation risk of HISCO in the process of asset light operation through comparison with enterprises in the industry,makes a detailed analysis on the financial indicators corresponding to various risks,and finds out the internal logic of financial risk brought by asset light operation to HISCO,Finally,this paper analyzes the causes of the financial risk of HISCO’s asset light operation,and puts forward some countermeasures,such as broadening financing channels,optimizing capital structure,improving R & D transformation efficiency,transforming production to CMO,transforming sales to CSO,and constructing the risk control system of asset light operation mode,so as to provide reference for the asset light operation of medical enterprises.Through the research on the financial risks faced by HISCO’s asset light operation mode,it can play a certain warning role for other enterprises;At the same time,I also hope that through this research,we can promote the pace of asset light transformation of other enterprises in the industry and promote the long-term and healthy development of the pharmaceutical industry.