Finance Performance Evaluation On Asset-light Model Of Operation

With the continuous development of national economy and the increasing of per capita disposable income,the tourism has become the theme of Chinese residents'consumption upgrading.Xi jinping,the general secretary,stressed that "tourism is the bridge to spread civilization,communicate culture and promote friendship,is an important indicator of improving people's living standards".Under the new normal,the tourism industry acts as a more and more important strategic position in the national economy and social development.As a traditional industry,tourism's development is limited by its own historical factors.How to earn his place in the increasingly fierce competition,to realize stable,high-speed,sustained development has become tourism enterprises' important topic.Asset-light module of operating helps company get rid of the traditional heavy-constraint,throw a sprat to catch a herring.Asset-light pattern gets more and more attention with the real estate enterprises' chasing,also lines up in the range of selections of travel companies.First of all,this paper tries to comb to researches on Asset-light module of operating at home and abroad.And then the paper analysis from the industry value chain analysis theory,the "smiling curve" theory,efficiency theory and the theory of performance evaluation of enterprise value creation and so on.From the connotation of the module,the paper comparative analysis light assets and heavy assets in such aspects as basic concept,financial characteristics,advantages and disadvantages of the difference.Then the paper implies the paths lead to Asset-light module of operating.QuJiangWenLv is the case of this paper.Through the analysis of the core competitiveness and the potential risks,the paper studies its establishment and implementation of Asset-light module of operating.The company exaggerates its own core competitiveness when establish the operating model,and blindly choose light assets patterns.Through data analysis of the company's profit ability,debt paying ability,operation ability,growth ability and cash flow in recent years,the paper finds the financial performance is poor,and the company failed to improve profits.At end of the article,it analyzes the source of the failure of asset light mode and the specific reasons.It is mainly because QuJiangWenLv ignored the important applicable conditions when making choice to this module.They are the significant core competitiveness and strong research development-sales.To be specific,poor financial performance is due to the company's main business income structure does not have sustained profitability,tourism resources loss humanistic value,accounts-receivable mismanagement.To solve above problems,this article provides five suggestions for QuJiangWenLv from the core competitiveness,income structure,the humanistic value,management and brand marketing.Hope they are able to promote the further development of the company.