The Debt Financing Problems And Countermeasures Of YTO Express Group Co.,Ltd.

With the rapid development of e-commerce,the demand for express delivery service is becoming stronger and stronger.As the preferred external financing method,debt financing is very important for express delivery enterprises.However,there is a general problem of debt financing in express delivery enterprises.This paper selects YTO Express Company as the research object,deeply studies the debt financing of this enterprise,and provides relevant solutions,which is of great positive significance for promoting the healthy development of express delivery enterprises.In this paper,the theoretical basis and literature of corporate debt financing are summarized in detail.On this basis,the present situation of debt financing of YTO Express company is expounded.According to the current situation of YTO Express companies,this paper starts with the scale of corporate debt financing,analyzes its debt financing sources,debt financing periods,debt financing capabilities and debt financing risks,and analyzes the influencing factors of its debt financing problems from the perspectives of government,financial institutions,industries and enterprises themselves.After research,it is found that:(1)YTO Express’ s asset-liability ratio is lower than the industry average all the year round,and there is a problem of insufficient debt financing scale;(2)In 2020,the loan cash flow financing will reach 100% of the total cash flow financing,and there is a single debt financing channel;(3)In 2016,2017 and 2020,short-term bank loans accounted for 100% of the total loans,and there was an unreasonable debt financing term structure;At the same time,its weak profitability,short-term debt repayment ability and growth ability affect its debt financing ability;(4)The decrease of asset liquidity,the decrease of asset utilization effect and the decrease of asset management level lead to the increasing risk of debt financing.The reason is that the characteristics of the industry environment lead to the difficulty of debt financing and the high threshold of financial institutions,thus affecting the scale of debt financing;The weak financing consciousness of managers restricts the diversified debt financing of enterprises;The inadequate internal management of enterprises leads to the mismatch of debt financing period.Finally,in order to better enhance its debt financing ability and improve its debt financing problems,this paper proposes to improve YTO Express’ s debt financing problems from three angles: enterprises,government and financial institutions.First,in terms of enterprises,the profitability of enterprises will be improved by opening up express market segments,building intelligent logistics facilities,and paying attention to the quality management of distribution services.The debt capital structure will be adjusted by improving the management level,expanding the long-term debt financing mode,and using new financing tools such as supply chain finance.Secondly,from the government’s point of view,formulate preferential tax policies in favor of YTO Express,increase financial support for weak enterprises,so as to improve the debt financing problems of YTO Express companies,and at the same time promote the perfect development of the bond market,so as to promote enterprises to choose debt financing methods;Thirdly,in terms of financial institutions,it puts forward some specific implementation suggestions,such as increasing liquidity support,lowering the financing threshold of financial institutions,and developing diversified debt financing instruments.