Research On The Operation Of Quasi-Financial Funds And Its Financial Risk Of OFFCN EDU

Over the years,the quasi-financial model has been widely used in the home appliance industry,retail industry,and real estate industry.Many companies rely on low-cost use of upstream and downstream funds in the supply chain to carry out capital circulation operations,alleviate the problem of capital shortage,and achieve their own rapid expansion and development.The vocational education industry has a tradition of collecting tuition fees in advance.With the emergence of "agreement classes",it presents a financial capital operation mode,which brings risks to vocational education and training institutions.As the "first stock in the public examination",OFFCN EDU was listed on the backdoor in 2018,and its performance continued to rise within three years.The "white horse stock" with infinite scenery has mutated into a "black swan".It is timely and necessary to study the causes and risks of the sharp contrast in its performance.This paper uses literature analysis method,case analysis method and comparative analysis method to analyze the financial data and related materials of OFFCN EDU by sorting out mainstream literatures.Compare its similarities and differences with the capital operation under the traditional financial model.The following conclusions are drawn: the capital operation of OFFCN EDU is a quasi-financial model,which is essentially the same as the traditional quasi-financial model,but there are some differences in financial characteristics and occupied funds.The application of this model can bring considerable liquidity to OFFCN EDU,and it has formed a relatively benign capital cycle within three years of the company’s listing,helping it achieve the goal of performance betting.At the same time,through the analysis of financial indicators,it is measured that OFFCN EDU has debt structure risks,especially in 2021,the debt repayment risk,capital chain rupture risk and cash flow risk of OFFCN EDU will increase sharply.Through the multivariate analysis and measurement method,that is,the F-score model,the overall financial risk of OFFCN EDU is measured.It can be seen that in 2020 and before,there is no major financial risk in OFFCN EDU.From the fourth quarter of 2020 to now,OFFCN EDU has The values of the F-score model are all lower than the critical value and gradually decrease,indicating that there is a large bankruptcy risk and endangering the operation of enterprises,which is basically consistent with the measurement results of univariate analysis.The reason can be expanded from two aspects: external factors and internal factors.External factors include uncontrollable policy influences,market environment influences.Internal factors include performance betting,managers’ risk preferences,aggressive business policies,over-reliance on contracted classes and other business management risks,business credit risks.Finally,according to the financial risk of public education,the research enlightenment is drawn.It should improve the ability to deal with emergencies,strengthen the awareness of risk prevention,improve business reputation,have a long-term vision,pay attention to the control of advance receipts,strengthen the management of capital chain,optimize the investment and debt structure,develop a comprehensive category market,and improve core competitiveness to avoid risks.