Research On Financial Strategy Optimization Under The Asset-light Operation Mode Of Xiaomi Group

With the development of China’s Internet industry entering a period of adjustment,the demographic dividend and traffic dividend are gradually decreasing,and the transformation of Internet enterprises is imminent.The asset-light operation model,which takes brand operation,management service and technological innovation as the main output factors,is increasingly concerned and favored by enterprises.However,as asset-light operation is a capital strategy with value creation as the core,it is necessary to have a matching financial strategy in order to effectively integrate internal and external resources and provide support and guarantee for enterprise value creation.At present,in the face of the asset-light operation boom in the domestic Internet industry,how to optimize the financial strategy and maximize the value of enterprises has become a prominent problem faced by many enterprises in the asset-light operation.Xiaomi Group is a typical representative of China’s Internet enterprises,ranking among the top ten Internet enterprises in China for many years,and is also one of the Internet enterprises that adopted the asset-light operation model earlier in China.In the development process of more than ten years,Xiaomi Group has closely combined the needs of asset-light operation in terms of investment strategy,financing strategy,capital operation strategy and income distribution strategy,formed different financial characteristics from other enterprises,and achieved good business performance.Taking Xiaomi Group as an example,this paper evaluates and analyzes its financial strategy and its implementation effect under the asset-light operation mode,providing a theoretical basis for Xiaomi Group to further optimize its financial strategy and improve its enterprise value.In this paper,the value chain,smile curve,financial strategy matrix and other relevant theories are used in the study,and the literature research method,case study method and comparative analysis method are adopted.The paper is divided into six chapters: the first chapter mainly introduces the research background and significance,research status at home and abroad,research content and methods;Chapter two describes the related concepts and theories of this paper.The third chapter mainly describes the basic situation of Xiaomi Group,the asset-light operation mode and its characteristics,the motivation of implementing the asset-light operation mode,and the financial characteristics under the asset-light operation mode.The fourth chapter describes Xiaomi Group’s financial strategic objectives and their implementation under the asset-light operation mode.The fifth chapter uses two methods of financial performance index analysis and financial strategy matrix graph to analyze the implementation effect of financial strategy under the asset-light operation mode of Xiaomi Group.Chapter six firstly points out the problems existing in Xiaomi’s current financial strategy according to the implementation effect evaluation above,then analyzes the causes of Xiaomi Group’s financial strategy problems from both internal and external aspects,and finally puts forward optimization measures and suggestions according to the problems existing in its financial strategy.It can also provide some experience for other Internet enterprises using asset-light operation mode to optimize their financial strategies.