Research On Financial Risk Analysis And Early Warning Of Hengshui Laobaigan Wine

In recent years, with the national liquor industry related policy introduced, the wine enterprises market environment continues to deteriorate, intensified competition in the industry, some poorly managed companies plunge into financial distress, in order to take precautions against enterprise financial risk of loss, it is necessary to carries on the analysis to the financial risk, and Finance the establishment of early warning and prevention system. For a long time, domestic and foreign scholars on financial risk analysis and financial early warning theory were a lot of research,especially in recent years, with the rapid development of capital market and financial early-warning theory achieved fruitful results. However, the vast most financial risk analysis and early warning research is to the market as the object, to all the listed companies as samples, and research methods of the choice to take most of the empirical, few for specific industries, specific enterprise financial early warning system construction, however, reality in different industries and different enterprises in operation, management mode on the significant difference. Hengshui Laobaigan wine company as a well-known liquor production enterprises, under the impact of the complex internal and external environment, the emergence of a serious shortage of working capital, solvency deterioration of the financial problems, it is necessary to risk analysis of the financial situation, and the establishment of financial risk early warning and prevention system to avoid financial crisis.Firstly, the liquor enterprise for the research background and significance of the construction of financial risk analysis and early warning system are introduced in this paper, research status of related fields at home and abroad were carding and evaluation, and the financial risk, financial early-warning, the relevant concepts and theories of cash flow are described. And then analyzes the overall characteristics of the liquor industry and in recent years, the development of the industry status quo, key for the case of Hengshui Laobaigan wine company, analyzes the development process of the company, company’s competition pattern, the internal management system of the company and the company’s financial performance, then select than enterprises to establish industry standards, respectively, from the financing risk, investment risk,operational risk and the risk of income distribution in four angles comprehensive analysis the facing problems of financial risk, analysis found that the companies have debt scale especially for the floating debt scale is too large, capital structure is irrational, serious deterioration of the debt paying ability, inventory scale is too large,poor liquidity, shortage of working capital and financial problems. At the same time,from two angles of the external environment and the internal financial management on corporate financial risk, the causes were a comprehensive analysis and evaluation,and pointed out that the company take the non-public offering of stock options for dealing with the financial risks of enlightenment and the insufficiency.At the end of this paper, according to the characteristics of the company, the introduction of cash flow index respectively from the debt paying ability, ability to pay, profit ability and development ability of four dimension construct Laobaigan wine company’s financial risk early warning system based on cash flow indexes, after verification, enterprises are facing the risk of overall reached warning level, solvency indicators reached huge warning level. In addition, this paper also from financing management, cash flow management, inventory and should be accounts receivable management and risk departments, such as the establishment of the angle was put forward for the company’s specific financial risk prevention and measures of eliminating warning.