| With the improvement of people’s living standards,the status of household appliances industry is also rising in the national economy.In the world,the output and sales of several major electrical appliances produced in our country rank first.Under the development trend of product quality improvement,product structure upgrading,industrial structure optimization and industry upgrading transformation,the development of household appliances products has also turned to humanization.However,at the same time of innovation,the demand for funds is huge,and it is difficult to support the rapid development of the industry only by the support of traditional financing methods.Therefore,a cheap and flexible financing mode emerges as the times require-Similar financial financing model.This new financing mode has the characteristics of low cost and fast direct financing.At present,in our country,similar financial financing model is generally applicable to real estate,household appliances retail and other industries,but it is most commonly used in retail industry.In retail industry of household appliances,The "Top 100 Chinese Chain Chains" selected by the chain operation association ranks first several times.The strong sales network of Suning makes the enterprises have the advantage of bargaining when implementing the similar financial financing model.The similar financial financing model can provide interest-free principal for the expansion of enterprise scale,increase the market share of enterprises,improve the bargaining power and market dominance of enterprises.This paper analyzes the use of similar financial financing mode based on financial reports of Suning.com Co.,Ltd.(hereinafter called Suning)from 2013 to 2017.Following the scientific principle,by analyzing the profit indicators under the similar financial financing mode,including stability,cashability,and growth of profitability,combine with retail industry close relationships with suppliers and the characteristics of a massive suning occupy suppliers,using the factor analysis method,a comprehensive profitability financial indicator system suitable for Suning under the similar financial financing mode was established.And according to this system,a factor analysis of data of Suning as vertical and data of retail industry as horizontal was conducted.Through analysis,Suning experienced three stages of exploration,downturn and development when applying the similar financial financing model into use.In2017,the indicators of Suning’s profitability rose linearly and was highly ranked in the retail industry.However,Suning experienced the stage of downturn,indicating that enterprises are also at risk when using the similar financial financing model and more attention should be paid to controlling the total cost.Finally,suggestions for reducing operating costs and optimizing offline business were proposed to improve the profitability of Suning.In this paper,factor analysis is used to establish a comprehensive financial indicator system for evaluating profitability.Meanwhile,according to the characteristics of large-scale interest-free liabilities and occupation of unstream and downstream funds,two factors of financial expense profit margin and principal business cash recovery ratio are integrated into the financial financing model. |
