earticle

영어

The number of internet users in China continues to rise and the country has begun promoting e-commerce development since 2011. Various supportive policies have created an ideal environment for the development of e-commerce. Under their combined effect, Chinese e-commerce market has developed rapidly. The COVID-19 pandemic’s impact has compelled retail enterprises that insist on operating offline chain stores to realize the defects of the traditional model and the need to transform to the e-commerce model. SUNING.COM is an enterprise that started its transition to e-commerce earlier than its competitors. It has made certain achievements in e-commerce but also exposed many problems. This paper takes SUNING.COM as the research object, analyzes its problems, proposes countermeasures, and provides a certain reference significance for the development of e-commerce enterprises. Considering the limitations of traditional financial analysis methods, this study adopts the more systematic and rigorous Harvard analysis framework to carry out a detailed analysis from four aspects: strategy, accounting, finance, and prospect. The analysis finds that SUNING.COM has both opportunities and risks, slow inventory turnover, high operational risks, poor solvency, and insufficient profitability. In response to the problem, the suggestions are as follows: First, SUNING.COM should give full play to the advantages of its offline retail stores, build a community-based e-commerce platform, and reshape its own brand image. Second, they should speed up the implementation of corporate projects and accelerate the release of restricted funds. Third, they must optimize the main business structure, eliminate non-essential businesses, and improve the online and offline "dual line" business model. Fourth, they must optimize the debt structure of enterprises, reduce current liabilities, and reduce the risk of bad debts.