Research On Operation Mode And Performance Of Light Assets In YUNNAN BAIYAO CO.LTD

China is a major pharmaceutical producer and consumer,and overtook Japan in 2013 to become the world's second largest consumer market.However,the expansion of foreign pharmaceutical giants in China and the impact of the continuous changes in the Government's policy on the pharmaceutical industry on the pharmaceutical industry have led to the competition in the pharmaceutical market into a white-hot stage.Competition among modern companies is more focused on business models than products,and Chinese pharmaceutical companies that want to continuously improve profitability and competitiveness should break down the limitations of traditional business models and constantly explore and discover operational models that can continue to create value.Taking YUNNAN BAIYAO as the research object,this paper explores the light asset operation mode and its financial performance in the pharmaceutical industry.First of all,introduce the development situation of the pharmaceutical industry,the industry light asset operation Status quo.Secondly,taking YUNNAN BAIYAO as the research object,this paper introduces the company profile,business status and Operation status.Then combined with the motivation of YUNNAN BAIYAO Light Asset operation mode,this paper analyzes in detail the strategy adopted by YUNNAN BAIYAO under the light asset operation mode.Next,from the point of view of financial performance,this paper analyzes the trend of the financial characteristics,profitability,solvency,operation ability and cash flow of YUNNAN BAIYAO after adopting the light asset operation mode.Then introduce other proprietary Chinese medicine enterprises to carry out horizontal comparison.Finally,using factor analysis,this paper analyzes the real performance of YUNNAN BAIYAO's financial performance under the light asset operation mode.Finally,the study found that Light asset operation model has the advantages of ensuring continuous profitability,improving the core competitiveness of enterprises and ensuring cash flow.However,there are some problems such as low gross margin of retail sales,declining efficiency of asset operation and runaway quality of foundry.Suggestions on improving retail gross margin and asset turnover and ensuring the quality of OEM products are also put forward.