Research On Financial Risk Under Asset-Light Operation Of Hisco Pharmaceutical Group

In recent years,asset-light operation mode has been widely embraced and promoted across all aspects of life,a value-driven new capital strategy.As one of the most important indicators in knowledge economy,R&D investment in this mode supports the operation ability and competitiveness of asset-light enterprises.The main business of Hesco is chemical drugs.It has typical asset-light operation characteristics in product research and development,production outsourcing and marketing regionalization management,so it has core competitive advantages.Besides,in the pharmaceutical industry,Hesco’s asset-light operation mode is relatively successful.From a theoretical point of view,most studies on asset-light operation have been conducted in the context of enterprise strategic management and operation,with a primary emphasis on the creation of company value in this mode.However,few studies have been conducted on the effects of financial risk,which is caused by a variety of components in the daily production and operation of the enterprise.By reading literature,this thesis initially collects pertinent data regarding asset-light operation,financial risk recognition and assessment techniques.It then expounds on the pertinent theories and research findings of both domestic and foreign scholars,including the definition of financial risk,the selection of pertinent financial indicators,and the introduction of research techniques.Analysing and identifying the financial risks of the Heissco Group,which are divided into three aspects: financing risk,investment risk,and operating risk,the financial data of asset-light operation years was utilized.After taking into account Hesco’s operation and its characteristics,13 evaluation indicators were chosen to construct the index evaluation system,and the financial risk evaluation model,based on entropy weight-TOPSIS method,was created to quantify its financial risk.An exhaustive examination of the financial risk of Heske Medical Group in the asset-light operation mode has been conducted,with the primary financial risks of the company being outlined and categorized according to their magnitude of effect.The sources of these risks have been outlined and countermeasures have been suggested.Mainly due to the financial risks brought by financing methods,huge R&D investment,cooperative production,inventory accumulation,etc.,part of the operation path of the original asset-light model needs to be upgraded in time.The current pharmaceutical policy brings opportunities for the implementation of asset-light mode in the pharmaceutical manufacturing industry.Enterprises can modify and upgrade the original operational trajectory,enhance the transformation efficacy of R&D investment,bolster the control of accounts receivable,and join independent production with cooperative production.It is hoped that this study will provide ideas and reference for other pharmaceutical enterprises in asset-light transformation,effectively solve the problem of financial risk in the pharmaceutical industry under asset-light operation,and promote the efficient,sustainable and steady development of pharmaceutical enterprises.