Study On The Financial Risk Identification And Prevention Of Huayi Brothers Media

Under the condition of the rapid development of socialist market economy,the cultural media industry,as the embodiment of the people’s growing demand for spiritual life,is developing vigorously,which has become an important focus in promoting the strategic adjustment of economic structure.Since the 18 th anniversary of the Communist Party of China,with the proposal of "cultural self-confidence",China has been constantly improving industrial policies,continuously optimizing industrial layout,and promoting the deep integration of industrial structure.The role of cultural industry in serving the people’s livelihood has been highlighted,and its contribution to national economic growth has been increasing year by year,and it is moving forward to the goal of supporting industries in the national economy.As an important part of the cultural industry,film and television media has gone through the initial stage and exploration stage,and also entered a period of rapid development.Different from the general industry,the film and television media industry has the dual attributes of ideology and industry,strong policy orientation,and belongs to the knowledge intensive industry.The characteristics of large initial investment,long production and operation cycle,and uncertain profits make it have greater financial risks than other industries.In recent years,with the promotion of capital operation,the film and television media industry has developed rapidly,the scale of industry has expanded rapidly,and the industry has been growing too fast,so that the industry has gathered a large number of bubbles.In 2018,the tax storm chilled the capital of the film and television industry.A series of regulatory measures were introduced at the policy end to regulate the chaos of the industry and regulate the healthy development of the film and television industry.In addition,the rapid riseof Internet technology and the vigorous development of emerging media increased the operational risk of film and television media enterprises,and the industry is undergoing a period of reshuffle and adjustment.Therefore,it is of practical significance to identify and prevent the financial risks of film and television media enterprises.With the pace of national reform and opening up,China’s cultural system reform has been gradually promoted.With the private capital injected into the field of film and television media,private enterprises have injected new development vitality into the film and television industry.As the first private film and television enterprise to enter the A-share market,Huayi Brothers is known as "the first share of China’s film and television entertainment".With rich experience in film and television production and comprehensive industrial layout,Huayi Brothers was once a leading enterprise in the film and television media industry.Since its listing in 2009,its performance market has performed well.In 2018,affected by the industry turbulence,tax storm and a series of market factors,the stock price fell all the way.In 2018,it suffered the first huge loss since its listing.In the first three quarters of 2019,it was also in a state of continuous loss,which was the largest loss among the film and television companies that disclosed their performance.By the end of 2019,its market value has dropped to 13.5 billion yuan,84.83% lower than its highest market value of 89 billion yuan,21.5 billion yuan lower than the previous market value of 35 billion yuan of light media,which has fallen out of the first echelon among a number of film and television companies.In the current environment of intensified industry competition and in-depth adjustment of industrial policies,what are the financial risks of Huayi Brothers,who are older in the industry.This paper takes Huayi Brothers as the research object,and uses the combination of multivariate model and financial index analysis to analyze the financial risk of Huayi Brothers.First,we use Z-scoreModel and F-score model to identify the overall financial risk of Huayi Brothers.Then we select the financial data of the past five years and use the financial index analysis method to do the vertical analysis,and compare with the average level of the same industry to find out the financial risk in the internal link and the reasons for the risk.Finally,we use the qualitative analysis method to identify the external factors’ financial risk Influence.The two identification methods complement each other and confirm each other.Through layer upon layer analysis,it is found that Huayi Brothers has a relatively high proportion of debt financing,unreasonable long-term and short-term debt structure,squeezed profit space,large downward pressure on profits,slow inventory turnover,high risk of capital recovery and financial risks.The interaction of the above risks leads to the unstable cash flow and financial stability of Huayi Brothers Poor.This paper summarizes and analyzes the financial risks of Huayi Brothers,respectively,from the capital side,business side and operation side,gives the corresponding excellent countermeasures to optimize the financial risk prevention system of the enterprise.