ZY 公司财务风险分析及防范：层次分析法在中小企业的应用。

Summary With the development of economic globalization and the continuous improvement of the market economy system, small and medium-sized enterprises (SMEs) are developing rapidly. SMEs have become an indispensable part of the Chinese market economy. The diversified market environment provides opportunities for SMEs, but also brings challenges. Due to their own characteristics, SMEs have some shortcomings in operation, such as lack of resources, low market share, chaotic corporate governance, low sustainable development capabilities, etc., all of which will have a significant impact on the long-term healthy development of enterprises. Therefore, the evaluation of financial risks of SMEs has significant practical significance. This paper first analyzes the characteristics of SMEs and types of financial risks they face, including liquidity risk, financing risk, credit risk, and investment risk. By combining the financial data of ZY Company, which was established in 2017 and mainly produces and operates lighting products for export profitability, the possible financial risks that ZY Company may encounter in its development process are analyzed using the Analytic Hierarchy Process (AHP). AHP is a relatively new method that is easy to understand and apply, and it is used to analyze and evaluate enterprises based on three criteria: debt repayment capacity, operational capacity, and profitability, along with their respective financial indicators. This provides a comprehensive assessment of ZY Company's financial risks. Keywords: Analytic Hierarchy Process, financial risk analysis, small and medium-sized enterprises