| At the 18 th CPC National Congress,the concept of "cultural confidence" was first proposed.Under the guidance of the concept of cultural confidence,domestic industrial development policies have been continuously improved and the overall industrial structure has gradually become reasonable.Film and television media is an important part of the cultural industry.Driven by the capital operation,the scale of the industry has expanded rapidly and a large number of bubbles have gathered.In recent years,the film and television industry related regulatory policies,including "curbs on television","curbs on entertainment","curbs on salary" and other policies have brought great challenges to the development of the film and television industry.The rise of new media aggravates the pressure of traditional media,and it is urgent to transform.After the successful backdoor listing of HRSJ,however,its business deteriorated out of rank,with the loss of core artists,the net cash flow exceeding its income for many consecutive years,and the stock price falling continuously,and the prospect is not optimistic.Therefore,it is of great significance to study the financial risk control of HRSJ.In this paper,literature research method,case analysis method,qualitative analysis and quantitative analysis are mainly applied in the process of research on the subject content.The financial risk referred to in this paper includes the financial risk manifested in financing,investment,operation,cash flow and so on.Firstly,it identifies the financial risks HRSJ company faces.Because of its financial fraud,it is punished by Chongqing Securities Regulatory Bureau,which exposes significant financial risks;Secondly,according to the current actual situation of HRSJ and the accounting report data in recent years,the average industry value and the data of the benchmark enterprise Enlight Media are selected as benchmarks,and the financial index analysis method is used to identify the financial risks in the operation,investment,financing and cash flow activities of the enterprise;Finally,the F-fraction model is used to identify the financial risk.The comprehensive study found that HRSJ’s financial risk control in 2019 mainly had problems such as unreasonable capital structure,lack of diversified and innovative investment,lack of operational management ability,low level of fund management,and incomplete performance commitment without compensation.The main reason is that the enterprise financial risk control consciousness is not strong and the lack of human,material and financial resources financial risk control mechanism is not perfect and financial risk control is not scientific.The countermeasures after the study are: HRSJ company should strengthen financial risk control,increase financial risk control resource input,perfect financial risk control mechanism and control financial risk through scientific means.Specifically from the investment risk control、financing risk control、operating risk control、cash flow risk control and other aspects,to broaden the diversification of financing channels,develop a reasonable financing process;strengthen the approval of investment projects,optimize and integrate the original investment;improve the inventory management level,improve the credit review and settlement procedures;establish cash flow monitoring system,and prepare cash flow budget regularly;it is necessary to actively implement performance compensation to protect the interests of investors.At the same time,it provides ideas and references for other companies in the film and television industry to control financial risks. |
