Research On Financial Risk Identification And Prevention Of Yinge Investment In Mixed Ownership Reform

State-owned capital is the economic foundation of socialist public ownership,and state-owned enterprises play a leading and basic role in China’s infrastructure,public facilities and public services.With the deepening of China’s economic system reform,more and more state-owned enterprises carry out mixed ownership reform.The identification and response of financial risks in the mixed reform of state-owned enterprises have also attracted the attention of all walks of life.At present,there have been relatively mature studies on multivariable financial risk early warning abroad,but for China’s listed state-owned enterprises,there are few studies on the cause analysis and response strategies of relevant risk behaviors based on the changes of financial indicators before and after the mixed reform and combined with the fluctuation of risk early warning indicators.Therefore,it is very necessary to study the financial risk of listed state-owned enterprises with mixed reform experience.This paper selects the Henan Yinge Industrial Investment Holding Co.,Ltd.that has serious financial risks after the mixed reform and finally goes to the delisting outcome as the sample,combined with the multivariable financial risk early warning model,studies the changes of financial risks,risk causes and coping strategies before and after the mixed reform,in order to reduce and avoid the financial risks of listed state-owned manufacturing enterprises in the mixed reform,It provides a reference for the smooth progress of mixed reform.Taking Henan Yinge Industrial Investment Holding Co.,Ltd.as the research subject,this paper attempts to identify the financial risks in different stages before and after the mixed reform of the company,excavate the causes and study the countermeasures through the risk measurement and analysis of Z-score Model.The first part mainly introduces the background and significance of this study,the research status at home and abroad,the specific content and research methods.The second part mainly defines the relevant concepts including financial risk,financial risk identification and response,and introduces the relevant theories required for the research,so as to lay a theoretical foundation for the follow-up analysis.The third part introduces and analyzes the general situation of the enterprise,the process of mixed reform and the main financial indicators before and after the mixed reform.The fourth part is the research on financial risk identification of silver pigeon investment based on Z-score Model,which mainly includes the interval division node for the manufacturing industry controlled by listed state-owned capital;The risk fluctuation of each single index and the overall risk change in the Z-score Model of silver pigeon investment before and after the mixed reform.The fifth part focuses on the causes of various financial risks mentioned in the previous step,mainly including the analysis of strategic decision-making,product structure,ownership structure,internal control,personnel structure,operation ability and so on.The sixth part is the financial risk response strategy suggestions of silver pigeon investment,mainly aiming at the risk causes put forward in the fifth part.The seventh part is the conclusion of the paper,including the main research results and deficiencies.Through the research of this paper,it is expected to be helpful to the identification and response of financial risks in the process of mixed reform of state-owned enterprises in listed manufacturing industry,and to the operation and development of silver pigeon investment in the future.