会计学院知识库

摘 要

近年来，轻资产盈利模式受到了诸多企业的青睐。随着国内外经济形势的不断变化，市场竞争也愈发激烈，医药行业关乎民生健康，人民的健康意识也逐渐提高，国内医药行业迎来了医药市场迅猛增长的良好前景。在国家鼓励药物研发创新的政策背景下，很多公司正在积极地进行转型升级，尝试着轻装上阵，对研发创新、品牌推广、客户关系管理、营销体系建设等轻资产资源更加重视，用较轻的资产结构来撬动更多的资源，进而构建出公司特有的竞争优势，并对轻资产的盈利模式进行进一步探索。

本文主要运用文献研究法和案例研究法，选取医药制造业中较为典型的运用轻资产盈利模式的海思科集团作为研究对象，对其轻资产盈利模式的财务特征进行梳理，并在行业背景下分析企业采取该盈利模式的动因，从研发创新、品牌建设、营销体系、生产外包管理和客户管理方面分析其实施的状况，并从盈利能力、营运能力、偿债能力和成长能力方面结合行业优秀值和平均值进行总体评价，以及从价值链视角下的研发环节、生产环节、营销环节、供应商、客户和竞争对手方面对其实施效果进行评价。

经过研究，可以得出，轻资产盈利模式能够提高海思科集团的盈利能力，增强海思科集团的核心竞争力。通过分析也发现，海思科集团轻资产盈利模式中也面临着风险，据此提出相关优化措施，帮助企业更好地实施轻资产盈利模式。

Abstract

In recent years, the asset-light profit model has been favored by many enterprises. With the changing economic situation at home and abroad, the market competition is becoming increasingly fierce, the pharmaceutical industry is related to the people's health, the people's health awareness is gradually improving, the domestic pharmaceutical industry ushered in the rapid growth of the pharmaceutical market good prospects. In the context of the national policy to encourage drug research and development innovation, many companies are actively transforming and upgrading, trying to be light, paying more attention to asset-light resources such as research and innovation, brand promotion, customer relationship management, and marketing system construction, leveraging more resources with lighter asset structure, and thus building a unique competitive advantage of the company. And further explore the profit model of light asset.

This paper mainly uses the literature research method and case study method to select Haisco Pharmaceutical Group Co.,Ltd. , a typical company in the pharmaceutical manufacturing industry that uses the asset-light profit model, as the research object, to sort out the financial characteristics of its asset-light profit model, and analyze the motivation for enterprises to adopt this profit model in the context of the industry. Analyze its implementation status from the aspects of R & D innovation, brand building, marketing system, production outsourcing management and customer management, and make an overall evaluation from the aspects of profitability, operating capacity, solvency and growth capacity combined with the outstanding value and average value of the industry. And from the perspective of value chain, it evaluates the effect of research and development, production, marketing, suppliers, customers and competitors.

Through the research, it can be concluded that the asset-light profit model can improve the profitability of the group and enhance the core competitiveness of the group. Through the analysis, it is also found that the asset light profit model of Haisco Pharmaceutical Group Co.,Ltd. is also facing risks. Accordingly, relevant optimization measures are proposed to help enterprises better implement the asset light profit model.