Research On Financial Risk Management Of XY Household Retail Co.,Ltd. Under The Asset-light Operation Mode

The retail industry is located at the end of the industrial chain.Because the production capacity of manufacturers is too large,the supply of consumer goods exceeds the demand,which makes the manufacturers face the difficult situation of sales.However,the introduction of the "quasi-financial model" enables retail enterprises to obtain more earnings from the upstream,improve their own capabilities,and obtain more funds under the support of suppliers,which is characterized by light assets and high leverage.With the development of the Internet,the traditional retail industry has sought a breakthrough and implemented the asset-light operation mode.This thesis takes XY Household Retail Company as an example to study its financial risk management under the asset-light operation model.This thesis first describes the research background and significance,and reviews the literature and theories related to asset-light operation and financial risk management.Secondly,this thesis expounds the motivation and implementation process of XY household retail company adopting asset-light operation mode.Finally,through the analysis of the case company,the financial risks of the enterprise are identified from the four aspects of financing,investment,fund operation and income distribution,and further use the Z-Score index model and financial index analysis method to evaluate the identified financial risks,so as to put forward the control measures.By studying the financial risk management of XY Home retail Company in the asset-light operation mode,this paper draws the following conclusions:(1)By identifying the potential risks in the asset-light operation mode of XY home Retail Company,it is found that the company has problems such as unreasonable financing structure,lack of reasonable planning for investment projects,insufficient asset management ability and imperfect dividend payment policy.(2)Evaluate the identified risks and conclude that the loan financing difficulties at the company’s financing level;Reduced efficiency in the use of funds at the investment level;The stability of funds decreased at the fund operation level;The internal development potential at the income distribution level has declined.(3)Put forward control measures for financial risks,optimize capital structure and rationally arrange debt maturity at the financing level;At the investment level,pay attention to investment decision-making and maintain core competitiveness;At the level of fund operation,build a team of managers and improve the efficiency of fund use;In the aspect of income distribution,formulate reasonable dividend policy and take into account the interests of all parties.