The Research On Financial Performance Of The Asset-light Profit Model Of Tongrentang

Drucker,the father of modern management,holds that the competition among the enterprises nowadays is that of commercial modeprofitability mode rather than the product.China's medicine industry is faced with a good prospect of rapid growth in the medicine market,and it ushers in the new development opportunity.However,the international medicine giants are also organizing the cross-national medicine company,thus accelerating the competition among medicine enterprise.Faced with the fierce competition,each medicine enterprise shall constantly update the understanding on the profitability mode,and use more scientific and flexible marketing mode to copy with the fierce market competition.Therefore,seeking the enterprise's profitability mode suitable for own development strategy combined with the practice becomes a problem that the current medicine enterprise must solve.Starting from the capital value theory,value chain theory and financial performance evaluation theory created by the enterprise's value,the paper discusses the operation of asset-light profitability mode in Tongrentang and the financial performance via the clarification and analysis on the theories related with the asset-light profitability mode.Firstly,it introduces the basic situation of Tongrentang,including the overview,business status and operating status,clarifies the operating status of asset-light profitability mode in Tongrentang,and the financial feature reflected in the asset balance sheet-high liquid asset,low fixed asset ratio,low account receivable ratio,and low long-term liability.Secondly,it analyzes the operating strategy of asset-light profitability mode combined with own feature,makes the performance analysis from the financial perspective,integrates the contrast with the maincompetitors of Yunnan Baiyao and Huarun Sanjiu,deeply analyzes the advantages and problems of asset-light profitability mode in Tongrentang.Finally,it proposes the strategy to optimize the asset-light profitability mode in Tongrentang,including enhancing the brand value,improving the research effect,optimizing the inventory management,perfecting the network marketing channel construction and strengthening the fixed asset management.These optimal strategies can not only provide the reference opinion for the future development of Tongrentang,but also provide certain reference for other enterprises in the same industry via the research on Tongrentang,the representative of domestic medicine enterprise,thus helping the development of other enterprises in the same industry.