Study On The Financial Performance Evaluation Of Listed Companies In The Apparel Industry Under The Asset-light Business Model

The garment industry has always been one of the traditional pillar industries in China and plays an important role in the national economy.In recent years,the labor costs and raw material prices in Chinese garment industry have been rising,and the needs of consumers are gradually upgrading.Along with the vigorous development of the domestic e-commerce model,“new retail” has been proposed and included in the national policy,and the apparel industry is facing greater transformation pressure.The economic growth of Chinese garment industry has shown a deceleration trend.Many apparel companies have problems such as excessive inventory,insufficient sales capacity,and inefficient supply chain management.How to transform,develop and break the status quo has become the key to the development of apparel enterprises.In the context of the overall downturn in the industry,H company operating with light assets has outstanding operating performance and good financial status,and its light asset operation model has naturally attracted everyone's attention.The light asset operation mode has become an important reference model for the transformation and development of the apparel industry,and has been implemented by more and more clothing companies.The financial performance evaluation has always been the focus of the stakeholders of the enterprise.The financial performance level of the enterprise affects the investment and financing strategy and management policy of the enterprise,and it is related to the sustainable development of the enterprise.Firstly,based on the research of many domestic and foreign literatures on light asset operation mode and financial performance evaluation,this paper follows the relevant theoretical basis,follows the design principle of financial performance evaluation system,and combines the management characteristics of light asset operation of China's garment industry enterprises.The four aspects of profitability,solvency,operational capability and development capability have established the financial performance evaluation index system of the listed companies in the light industry.Then select the typical light asset operation company H company in the industry as the case object,analyze the status of its light asset operation,and apply the constructed financial performance evaluation index system to H company.Through the ratio analysis method and factor analysis method,the financial performance level under the light asset operation mode is comprehensively evaluated from the perspective of the company's own vertical development and horizontal industry status.The research in this paper finds that the overall financial performance level of H company adopting the light asset operation mode is in the forefront of the industry.The profitability and solvency of the company are at the top two level of the industry,but there is still room for improvement in terms of operational capability and development capability.Finally,according to the financial performance evaluation results of H company,the corresponding optimization suggestions are put forward in a targeted manner,which also provides some inspiration for the management and operation improvement of Chinese garment enterprises.