The real economy is the basis for the survival and development of human society and the starting point and foothold of the virtual economy. To solve the major structural problems in China----the real economy’s "Transformation from real to virtual", the root cause is to address the development problems of the real economy. The key breakthrough for developing the real economy with high quality is to develop enterprises with high quality and provide enterprises with a high-quality external environment. In the case of a large "bubble" in the financial market, as a domestic clothing giant, Youngor has been "marginalized" in the clothing business for more than a decade, focusing on the real estate industry and financial investment, which led to brand aging, market visibility and market position decline, young customer groups loss and low retern on equity. This case starts from the study of the asset allocation results of Youngor Group Co., LTD., explores the influence of excessive investment in financial assets by non-financial enterprises represented by the apparel industry on the long-term development of the enterprise, and puts forward some targeted advice for such enterprises.

Wenchao Zhong, Jinzhou Chen. The Impact of Long-term Over-allocation of Financial Assets by Apparel Enterprises on Company Performance. Academic Journal of Humanities & Social Sciences (2020) Vol. 3, Issue 6: 1-16. https://doi.org/10.25236/AJHSS.2020.030601.

[1] Zhao Jia. Exploring the investment risk of financial assets of modern enterprises [J]. National Business Situation·Theoretical Research, 2013, 000 (032): 61-62.
[2] Zhang Shuo. Affecting factors and decision analysis of household financial asset allocation [D]. Harbin Institute of Technology, 2012.
[3] Li Yiping. The real economy is the foundation of stable economic growth [J]. SME Management and Technology (26): 36-37.
[4] Shen Qiong, Zhao Jing. Research on the connotation of the enterprise apprenticeship [J]. Science and Technology Vision, 2013, 000 (030): 222-223.
[5] Sheng Mingquan, Wang Shun, Shang Yuping. Financial Asset Allocation and Total Factor Productivity of Entity Enterprises: "Incorporating Industry and Finance" or "To Be Realistic and Virtual" [J]. Finance and Trade Research, 2018, 29 (10): 91 -101+114.
[6] Kuang Yuan. Harmfulness of non-financial enterprises' financialization and their countermeasures [J]. Business Situation, 2017, 000 (009): 63-64.
[7] Ge Xinquan. Real economy and high-quality development of enterprises [J]. Leadership Science Forum, 2019 (18).
[8] Cheng Siwei. What is a virtual economy [J]. Book Abstract, 2009, 000 (005): 94-97.
[9] Shen Zhenhe. Research on the Moderation of Virtual Economy and Real Economy Development [D]. Jilin University of Finance and Economics, 2010.
[10] Yan Jianren. Choosing the right development model to achieve the strategic goals of the enterprise [J]. Modern Enterprises, 2014, 000 (001): 9-12.