Research On Sustainable Financial Growth Of Mango Hypermedia Under The Background Of Network Convergence

With the integration of Internet and traditional media,the media industry has become an important part of China’s digital economy.Various media platforms have launched high-quality content products to increase the proportion of video content,with a view to increasing user stickiness,thus enhancing their financial sustainable growth ability.Compared with the successive losses of i Qiyi,Youku,Tencent and other platforms,Mango Hypermedia is the only profitable media platform.Since the implementation of the network integration in 2015,a complete new media industry chain layout has been formed,becoming the first A-share state-controlled listed media platform in China.However,with the media industry entering the "post-dividend" era,facing the increasing competition within the industry,the future financial sustainable growth pressure of Mango Hypermedia will suddenly increase.Therefore,based on relevant theories and existing achievements,this paper tests the financial sustainable growth ability of Mango Hypermedia in three steps based on its financial data from 2014 to 2020.Firstly,the traditional Higgins model is used to test.The results show that the actual growth rate of mango hypermedia is quite different from the sustainable growth rate due to the problems of high sales cost,low inventory turnover efficiency and slow recovery of accounts receivable.Secondly,based on the ESG performance of Mango Hypermedia,it comprehensively analyzes its financial sustainable growth ability.The results showed that mango hypermedia performed well in the social and governance dimensions,but in the environmental dimension,it scored extremely low because it did not discuss the risks and opportunities of climate change and carbon emissions.Finally,the test results based on the dimension of value creation show that the comprehensive value creation process of mango hypermedia is sustainable,which may promote the sustainable financial growth and form a virtuous circle in the future.Based on the test results,this paper finally puts forward that although the comprehensive value creation process of mango hypermedia is sustainable under the background of network integration,it needs to pay enough attention to the following aspects: First,it is necessary to strengthen the control of sales expenses,strengthen the liquidity,and narrow the gap between the actual growth rate and the sustainable growth rate;Secondly,establish an equity incentive plan for core talents to reduce the risks caused by the loss of core personnel;Finally,change the present situation of unsatisfactory performance in environmental dimension and put the discussion of carbon emissions on the agenda as soon as possible.