Study On The Financial Performance Of The Asset-light Profit Model Of Yunnan Baiyao Group

Pharmaceutical enterprises have always been an important part of China's nati onal economy,and now China's pharmaceutical enterprises have a broad developm ent prospect,not only in the domestic market with huge demand,but also many p harmaceutical enterprises have gone abroad.But at the same time,the competition i n the pharmaceutical industry is also intensifying,and Chinese pharmaceutical enter prises are experiencing unprecedented challenges.The lack of innovation ability of s ome domestic pharmaceutical enterprises and the serious homogenization of produc ts and operation modes,coupled with the influx of many world pharmaceutical giant s into the Chinese pharmaceutical market,make the competition in the Chinese ph armaceutical market more intense.Therefore,in recent years,the profit space of Chi nese pharmaceutical enterprises has been continuously compressed,even the phen omenon of negative profit growth has appeared.In order to achieve long-term devel opment,Chinese pharmaceutical enterprises should break the inherent traditional pr ofit mode and actively explore new profit mode.Therefore,this paper studies the ap plication of asset-light profit model in pharmaceutical enterprises through case analy sis,aiming to provide a way of thinking for the choice of profit model for pharmace utical enterprises.This paper with the examples of yunnan baiyao light assets profit model of rel evant theories,literature,and read the finance of yunnan baiyao since going public,the concept of profit model and type of light assets are introduced,and then for t he yunnan baiyao light characteristics after financial assets profit model,light asset s profit mode are analyzed,and the implementation of the final after standing in th e point of view of financial performance of yunnan baiyao in light assets profit mod e of 2014-2018 profit ability,debt paying ability,operation ability,EVA and earnings quality index are analyzed.Finally,the study found that yunnan baiyao group from 2014 to 2018,because the light assets profit model,raise the level of corporate earnings and earnings quality,enhance the core competitiveness of the enterprise,thus to implement asset light yunnan baiyao group profit model summarizes successful experience,and to promote its successful experience,for the same industry for reference to other enterprises implement light assets profit model.