| With the further reform and opening up in China,the process of international-ization has been further accelerated,and competition among enterprises has intensified.More and more traditional enterprises have improved the performance of enterprises in order to keep up with the pace of the times and put strategic transformation on the corporate agenda.However,strategic transformation is not an easy task.In particular,the transformation of traditional industries into high-tech industries is a high-risk project.Some enterprises are not familiar with capital market rules and blindly transform,resulting in an increase in corporate financial risks.As a leading company in the traditional clothing industry,Metersbonwe began to implement a strategic transformation to the Internet online model in 2010,with the intention of reducing its financial risks and alleviating financial difficulties.This paper first reviews the relevant theories of strategic transformation and financial risk.On this basis,the process and motivation of Smithsonian's strategic transformation are summarized and analyzed,and the financial risk is analyzed in combination with financial data.Then,based on the characteristics of Metersbonwe's clothing company,this paper selects two models,univariate and multivariate,to measure the severity of the financial risk of the company,and selects the 2013-2017 financial report data for the index calculation,the company's financial risk model.The calculation results were analyzed.Although the company's clothing company has no bankruptcy risks,its operating conditions are getting worse year by year.Then,combined with the above analysis data and related theories,from the perspective of the layout decision in transformation,debt structure after transformation and inventory management,and combined with the fundamentals of the industry,it analyzes the reasons for the formation of corporate financial risks,and proposes relevant policy recommendations for the actual situation of the enterprise.Metersbonwe Co.Ltd.is in a leading position in China's casual wear industry.Given that there are many similar traditional garment manufacturing industries facing transformation difficulties in China,the selection of this case has practical significance.Through the analysis of the current financial risks of the enterprise,the paper proposes scientific financial risk management and control measures to provide reference for enterprise managers in the future governance. |
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