基于资金链的医药流通企业财务风险控制研究——以RK医药为例

Research on Financial Risk Control of Pharmaceutical Circulation Enterprises Based on Capital Chain—Taking RK Medicine as an Example

摘要: 资金链的正常运转直接影响到企业的生存质量和发展效果，资金链循环不畅是导致企业财务风险的主要原因之一。为此，采用调查研究法、案例分析法和演绎推理法等，在分析资金链与财务风险关系的基础上，明确了资金链对财务风险控制的要求，并结合RK医药财务指标和会计数据，重点分析了资金链视角的医药流通企业筹集风险、投资风险、资金流动风险、资金回笼风险状况。研究发现，医药流通企业的负债率过高且偿债能力不足，且存在以流动负债串用于长期投资项目问题，应收账款过多且回收速度慢，存在一定的应收账款风险，并由此加剧债务风险。为此，有针对性地提出了RK医药降低流动负债比例以调整负债结构、制定完善投资计划减少盲目投资、优化现金流管控、强化应收账款管理等措施。

Abstract: The normal operation of the capital chain directly affects the quality of life and development effect of enterprises, and the poor circulation of the capital chain is one of the main reasons for the financial risk of enterprises. For this reason, based on the analysis of the relationship between the capital chain and financial risk, the requirements of the capital chain for financial risk control were clarified by using the methods of investigation and research, case analysis and deductive reasoning. In combination with the financial indicators and accounting data of RK Pharmaceutical Company, the financing risk, investment risk, capital flow risk and capital return risk of pharmaceutical circula-tion enterprises from the perspective of the capital chain were emphatically analyzed. The study found that the liability ratio of pharmaceutical circulation enterprises is too high and the solvency is insufficient, and there is a problem of using current liabilities for long-term investment projects. The accounts receivable are too much and the recovery speed is slow, which has a certain risk of accounts receivable, and thus aggravates the debt risk. To this end, targeted measures such as reducing the proportion of current liabilities to adjust the debt structure, formulating and improving investment plans to reduce blind investment, optimizing cash flow control, and strengthening the management of accounts receivable are proposed.