基于Z-Score模型对宜人贷财务风险进行评定

The Evaluation of Financial Risk of YRD Based on Z-Score Model

P2P作为普惠金融代表之一,自2018年以来P2P贷款平台陆续倒闭,引人深思。宜人贷(YRD)作为我国唯一一所上市的P2P贷款平台,其发展模式,财务风险管理最具代表性。本文对宜人贷公司财务报表进行微观与宏观层面分析,确认其财务方面存在的风险类型,有助于宜人贷公司管控财务风险,进而有助于P2P整个行业财务风险的规避。对宜人贷公司偿债能力,营运能力,盈利能力进行微观层面分析,再利用Z—Score模型,对宜人贷公司财务风险进行综合评价,得到宜人贷财务风险比较高,需要加以管控。

As one of the representatives of inclusive finance, P2 P lending platforms have been closed since 2018, which has aroused profound thoughts. As the only listed P2 P lending platform in China, development model and financial risk management of YRD are the most representative. This paper analyzes the financial statements of the company at the micro and macro levels to identify the types of financial risks, which is conducive to the company’s control of financial risks, and thus to the avoidance of financial risks in the whole P2 P industry. The debt paying ability, operation ability and profitability of the company are analyzed at the micro level. The Z-Score model is used to comprehensively evaluate the financial risk of the company, and it is concluded that the financial risk of the company is relatively high and needed to be controlled.