Research On Supply Chain Financing Of Agricultural Core Enterprises

Since entering the new development stage of the "14th Five-Year Plan",our economy is gradually moving towards high-quality development,and establishing a modern high-quality supply chain has become an important goal of current development.The problems of agriculture,rural areas and farmers are the weak link in the development of our financial system.The supply chain financing opens up a new way to solve the financing difficulties of agriculture,rural areas and farmers.Core enterprises in the supply chain also gradually realize the importance of upstream and downstream smes to themselves,and begin to help them solve financing problems through supply chain financing,while improving their competitiveness,and realizing a win-win situation of the supply chain community.At present,most of the existing researches focus on the perspective of financial institutions and other third parties,which is difficult to provide timely and effective guidance for the supply chain financing and sustainable development of agricultural core enterprises.Therefore,the current typical practice of agricultural core enterprises in supply chain financing has research significance.Based on the perspective of core enterprises,this paper selects New Hope Liuhe Company,a leading agricultural enterprise,as a case study.Based on its dominant position in the industry,New Hope Liuhe Company constantly strengthens the management of its supply chain upstream and downstream supporting enterprises.New Hope Liuhe Company is also one of the first agricultural supply chain financing enterprises in China and the first agricultural leading enterprise to make breakthrough in agricultural digital supply chain financing.This paper selects the agricultural supply chain financing of the enterprise as the research object,which has a certain typicality.First of all,this paper uses the method of combining theoretical research and case analysis.After summarizing and reviewing the literature and basic theories about supply chain financing at home and abroad,this paper expounds the related concepts of supply chain financing and agricultural supply chain financing,and sorts out the current characteristics,main models,risk and effect evaluation of agricultural supply chain financing in our country.Secondly,the case mainly uses qualitative and quantitative methods to analyze the motivation,development process,two main modes of New Hope and agricultural supply chain financing.Finally,the paper draws conclusions from the aspects of financing model,financing effect,financing risk and risk control.The development of supply chain financing is of great significance to the solution of the overall financing problem of the supply chain of New Hope Liuhe Company,a core agricultural enterprise.The promotion of supply chain financing of New Hope Liuhe Company has further optimized and reduced its operating cost,accelerated the capital turnover,extended the period of accounts receivable,improved the cash flow situation,and also created certain economic benefits.In addition,by providing financing assistance to smes in the upstream and downstream,it not only solves their financing difficulties,but also effectively reduces their financing costs and enhances the financing efficiency of the entire supply chain.Through the continuous development of traditional supply chain financing and the innovative and optimized agricultural digital supply chain financing in recent years,New Hope Liuhe Company has created an industry-leading intelligent big data risk control and "online + offline" three-dimensional intelligent risk control system.However,due to the inherent limitations of agricultural supply chain financing and the impact of African swine fever and the novel coronavirus epidemic in recent years,New Hope Liuhe’s ill-timing expansion of the pig industry has brought operating and financial pressure.At present,it is difficult for the company to provide reliable basic support for the large-scale and high-yield development of its supply chain financing business.Therefore,it is still a challenge to match the supply chain financing business,the company’s overall strategic layout and cash flow structure.Therefore,based on the analysis conclusions of financing mode,financing effect,financing risk and risk control,this paper puts forward relevant improvement suggestions such as optimizing strategic layout,combining supply chain financing with big data,connecting farmers with equity and New Hope Six and supply chain financing.It aims to provide a broader range of ideas for the research in related fields,and provide valuable reference for more agricultural core enterprises in developing supply chain financing business and optimizing supply chain financing mode.