The pharmaceutical industry is an important field related to people’s livelihood,a social need,and an inevitable trend of economic development.In recent years,society has put forward more demands for the development of the pharmaceutical industry,and has also provided a higher quality development platform and space.However,in China,a series of strict policies have been implemented for the pharmaceutical industry and in the context of the epidemic,pharmaceutical companies are constantly facing financial risks,resulting in a decrease in operational efficiency and inability to achieve strategic goals.Faced with opportunities and challenges,pharmaceutical companies need to take effective measures to help them achieve financial risk prevention and control goals,and maintain their stable operations.The effective combination of industry and finance,utilizing capital management methods to promote the development of physical industries,can improve operational efficiency and effectively reduce financial risks.However,if an enterprise becomes overly financialized and "moves away from reality to emptiness",it will "squeeze out" main business investment and increase the overall financial risk of the enterprise.Therefore,in the process of integrating industry and finance,enterprises must grasp the proportion of resource allocation to fully leverage the synergistic effect of the integration.And A Pharmaceutical is a typical enterprise in China with excessive financialization.This article combines the characteristics of the development and operation of pharmaceutical enterprises and their understanding of financial risks.Taking A Pharmaceutical Co.,Ltd.as an example,the F score module is first used to evaluate the overall financial risks of the pharmaceutical enterprise in recent years.Secondly,based on the current situation of the company’s excessive financialization,following the principle of managed financial statements,the business activities and financial activities of A Pharmaceutical are distinguished,and the financial indicator analysis method is mainly used to analyze and evaluate the financial risks in the physical industrial operation activities of A Pharmaceutical and analyze the causes.Finally,based on the strategy and risk causes of A Pharmaceutical,two major directions for improving the operational efficiency of the physical industry and preventing and controlling financial risks were proposed.The research conclusion of this article is that there is no problem with the development model of combining industry and finance within the company itself.According to the "reservoir" effect,financial activities can increase the company’s asset liquidity.However,financial activities should not affect the development of the physical industry.The excessive financialization of the company has led to a continuous decline in the operational and financial conditions of the physical industry.The profitability of the physical industry is poor,the quality of returns is low,the operating activities occupy low assets,the core profit contribution of the physical industry is low,the operating efficiency is low,the company’s R&D innovation ability is declining,and the market position and competitiveness are declining.These issues have brought potential financial risks to the company’s operations.The company should establish a correct concept of integrating real estate and finance,and formulate reasonable strategic goals.At the same time,we will not forget our original intention,vigorously develop the traditional Chinese medicine industry,improve business efficiency,do a good job in industrial operation and risk prevention and control,and avoid and control potential financial risks.Through the research in this article,we hope to provide certain ideas for the company,as well as analytical ideas and warnings for the financial risks of other financialized enterprises,and create a more stable and safe development environment. |