| With the rapid growth of China’s economy and the continuous improvement of people’s material living standards,higher requirements have been placed on the level of medical security.In recent years,China has been reforming the medical system and continuously strengthening medical security measures,which has led the people to gradually change the concept of "treating the disease" to "treating the disease".Also makes the pharmaceutical industry a hot spot for everyone’s attention.Due to the extensive and profound history of traditional Chinese medicine,it has naturally become a popular object.Therefore,the Chinese medicine industry has also developed in the tide of medical system reform.The development of the industry is inevitably accompanied by competition,so in order to promote their stable development,many companies have proposed corresponding competition strategies.There are also many companies that have changed their original development strategies and operating strategies.They have changed the original operating model with a large proportion of fixed assets and inventory and other heavy assets.They have transformed into asset-light resource integration models.Reform.Because Chinese medicine companies attach great importance to the research and innovation of pharmaceuticals,it is reasonable and necessary to make their own operating model into asset-light operation.On this basis,this article mainly studies the case studies related to the transformation of the Chinese medicine industry into an asset-light operation model.This article focuses on a series of measures and transformation results of the company’s asset-light transformation,that is,the performance analysis before and after the transformation.The first is the introduction of related concepts and theories of asset operation models,which are mainly divided into asset-heavy and asset-light models.Through research by scholars at home and abroad,they have a deeper understanding of asset-heavy and asset-light operating models.The literature review mainly selects the financial characteristics of the asset-light operating model and how to evaluate performance,so that there is a better performance evaluation method for companies that transform into asset-light operating models.When selecting a case company,through analysis and comparison of 66 Chinese medicine companies,the company chose the Pien Tze Huang company,which is in the middle of the industry,so that the selected data will be more representative.In the case analysis,the main business,shareholder structure and related operating model of Pien Tze Huang Company are introduced,and the development status before the transformation is analyzed.This article focuses on discussing the transformation background,corresponding transformation measures,financial characteristics of the company after the transformation,and the use of EVA(Economic Value Added)to evaluate the performance of the 8-year period from 2008 to 2012 before and after the transformation 2016 to 2018 of the company.According to the final analysis,after Pien Zte Huang Company adopted transformation measures from 2013 to 2017,it gradually began to show some advantages of the asset-light operation model from 2015 to 2017,such as the increase in the proportion of corporate current assets,abundant cash flow,and asset turnover.Fast and so on.It is worthwhile to increase the performance of Pien Zte Huang Company through economic growth.From the point to the surface,we can analyze that the asset-light operation model will bring great advantages to the development of the enterprise.In the second half of the thesis,the impact of the asset operation model on the entire industry,what kind of companies are suitable for the asset-light operation model,and what are the advantages for the industry.This article uses a combination of theoretical analysis and case analysis to further explain the changes in financial characteristics and performance changes after adopting an asset-light operation model.Finally,the following three conclusions were reached:(1)Adopting an asset-light operation mode is to integrate the high-quality resources of the enterprise and maximize the advantages of the enterprise itself.(2)Asset-light companies attach great importance to links with high added value,such as R&D innovation and brand marketing,and focus on creating a good corporate reputation.(3)The companies that have successfully transformed into asset-light operating models have greatly changed their financial performance compared to previous ones,showing a continuous upward trend.Not only can make the enterprise develop rapidly,but also promote the development of the entire industry.Through the case analysis of Pien Zte Huang Company,I hope to enrich the relevant theories of the asset-light operation model.It also hopes to inspire other Chinese medicine companies to promote the better and faster development of the Chinese medicine industry. |
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