Research On Asset Structure And Sustainable Profitability Of Express Industry Based On Strategic Management Accounting

With the development of the Internet economy,the express delivery industry has become an important part of the national economy,which has greatly promoted the development of China's e-commerce and new retail.At present,China's express delivery industry has basically formed a competitive situation in which SF Express and the “four links and ones” compete against each other.Among them,“four links and one” have adopted the light asset operation mode,and only SF has adopted the heavy asset operation mode.The “four links and one approach” adopting the light asset operation mode performed well in short-term financial indicators,but the homogenization competition was serious and the distribution efficiency was not satisfactory.In contrast,SF,which uses the heavy asset operation mode,although the operating income is stable First,the customer experience is the best,but the performance of financial indicators is significantly lower than the "four links and one".With the gradual decline of the growth rate of the express delivery industry,the competition in the express delivery industry has entered a new normal state.Which of the two types of express delivery business models of heavy assets and light assets has become more sustainable and has become the focus of attention in the theoretical and practical circles.The accounting problems of the two model differences are mainly reflected in the asset structure and sustainable profitability.In order to balance the short-term and long-term financial performance of the two,this paper,from the perspective of strategic management accounting,combined with the industry characteristics of the express delivery industry and the development experience of the US express delivery industry,using the analytical tools of strategic management accounting to determine the sustainable profitability of the express delivery industry.The factors,through the horizontal and vertical comparison of SF and the “four links and one” financial and non-financial indicators,analyzed the differences between the two strategic choices,asset structure allocation and sustainable profitability,and found that under SF's heavy asset model,Speed,safety,and service are more secure,sustainable profitability is stronger,and light asset companies are more homogenous,causing higher risks in price wars.At the same time,suggestions were made to improve SF's financial performance: rational choice of financing methods;strengthening cost management;strengthening financial risk management;promoting related diversification;and increasing scientific and technological innovation.This paper further explores the relationship between the corporate strategy of the express delivery industry,the structure of light and heavy assets and the sustainable profitability: the strategic choice of the company is the basis for the enterprise to decide which asset structure to choose;the asset structure is an important factor in determining sustainable profitability.The strength of sustainable profitability will also have a certain correction effect on the company's strategy and asset structure.Further suggestions for different types of enterprises in China's express delivery industry: the “access system” of light asset operation should improve the management of franchisees and transform to the information platform;e-commerce self-operated logistics should strengthen cost control and gradually provide services to third parties;State-owned logistics enterprises should strengthen internal control and improve the efficiency of resource use.