Study On Financial Risk Management Of Sheng Da Forestry Major Asset Restructuring

In recent years,with the deepening of economic globalization and the continuous development of China's market economy,asset restructuring has become an important way for listed companies to optimize the allocation of resources and improve the value chain of enterprises.For those large-scale restructuring activities involving industry transformation,China Securities Regulatory Commission has also launched the corresponding standard definition of major asset restructuring,and revised and improved the restructuring methods for many times.In the past decade,the number of listed companies participating in major asset restructuring has also shown a rapid upward trend.Major asset restructuring is a complex capital operation activity,which is often accompanied by large-scale asset transactions and may involve changes in the main business.Therefore,there are various risk points that may cause financial risks in many links of the reorganization process.How to control the financial risks in the major asset restructuring within the acceptable range,prevent the performance decline of the listed company after the reorganization,and protect the interests of all parties in the reorganization is an important problem that enterprises need to solve.This paper takes the financial risk management in the process of major asset restructuring as the subject of a case study.First of all,this paper selects Sheng Da Forestry,a listed company that launched three major asset restructurings in 2015-2018 for industrial transformation,as the research object,combs the relevant background and event process in the process of many major asset restructuring of the company,and briefly analyzes various trading activities of the company in the industry transformation through major asset restructuring;Secondly,according to the relevant process of financial risk management,this paper carries out risk identification,risk assessment and risk control suggestions for the financial risks in many major asset restructuring activities of Sheng Da Forestry.In the financial risk identification,according to the source of financial risks,the financial risks caused by financing activities,investment activities and business activities are classified and identified.In the financial risk evaluation,this paper uses Z-Score Model and F-Score Model to evaluate the financial risk in the process of Sheng Da Forestry restructuring.Finally,in the proposal of financial risk control,this paper puts forward corresponding financial risk control suggestions from the overall level and various activities of the company in view of the factors that may cause financial risk in Sheng Da Forestry major asset restructuring.At the same time,it has certain reference significance for the listed companies to manage the financial risks in the major asset restructuring.