Research On Financial Risk Of China Railway Equipment Manufacturing Enterprises

Along with the "six big speed-up" of Chinese railways,China has entered a rapid development stage in the field of rail transit,which has also opened the prelude of China’s rail equipment manufacturing technology from import and absorption to independent innovation,from catching up to anti-overtaking.At present,the rail transit equipment manufacturing industry with rail transit vehicle manufacturing as the core has formed a relatively large scale.Because the enterprises in these industries are located in different positions in the rail transit equipment manufacturing industry chain,there are obvious differences in the business areas,scale and nature of enterprises.However,the operating conditions and financial risks among these enterprises are closely related and consistent,which is clear.The obvious characteristics of the industry.It is increasingly urgent to conduct scientific and rational research and evaluation on financial risks of such enterprises and to provide references for enterprises in the industry to reduce financial risks.Firstly,this paper introduces the background and significance of the topic,and analyses the research status of traditional financial risk assessment and control of enterprises at home and abroad:secondly.it analyses the environment and development status of China’s rail transit industry,defines the related concepts of industry financial risk by using the basic theoretical knowledge of financial risk analysis and evaluation;secondly,according to statistical data,it uses factor analysis method.To construct the financial risk evaluation model of China’s rail transit equipment manufacturing enterprises,to quantitatively evaluate the financial risk of major enterprises in the industry,to analyze the main factors affecting the financial risk of China’s rail transit equipment manufacturing enterprises,and to judge the development trend of the overall financial risk of the industry;and then,according to the main factors affecting the financial risk of enterprises in the industry and the degree of their impact,to be targeted.Finally,a representative and influential enterprise in a wide range of industries is taken as a case study to verify the financial risk evaluation system of the whole industry,and the beneficial enlightenment for the financial risk evaluation and control of China’s rail transit equipment manufacturing enterprises is obtained.Through systematic statistical analysis and case validation,the following conclusions can be drawn:Firstly,factor analysis method has good applicability to the evaluation and research of financial risk of China’s rail transit equipment manufacturing enterprises,and can effectively evaluate the level of financial risk and the main influencing factors of financial risk of enterprises in the industry;secondly,it affects the finance of China’s rail transit equipment manufacturing enterprises.Business risk level mainly includes five aspects:growth ability,operation efficiency,solvency,profitability and cash ability,and the overall financial risk level of industry enterprises has shown a significant increase trend in the past three years.Thirdly,the business direction of industry enterprises should be based on policy and planning and industry development direction of targeted scientific investment,while improving efficiency,optimizing structure and strengthening.In order to effectively reduce financial risks,we should strengthen management in terms of earnings and cash management,strengthen the training of managerial financial personnel,strengthen the analysis,early warning and control of financial risks,and integrate the characteristics of enterprises with comprehensive analysis and control of financial risks.