For enterprises that have emerged or have fallen into a liquidity dilemma, there must be their own reasons for the problems, whether in strategy, strategy, management or operation, which can not be avoided. Wrong is wrong, and there is nothing to shirk or escape, but it may not be entirely attributed to the enterprise itself, The existence of some external force majeure factors usually has the power to push the enterprise into a dilemma. Whether you call it grey rhinoceros or black swan, the enterprise may lack appropriate defense ability. However, things have become a foregone conclusion. It's a little too much and unnecessary to tangle in the past, add fuel to the flames and aggravate the deterioration of enterprise operation on the basis of the current situation of the enterprise. The purpose of summarizing or reviewing the course of the enterprise is not to criticize, but to better clarify the historical process and context of the enterprise, so as to facilitate the enterprise to identify the root causes and resolve risks, and also facilitate the enterprises not in danger to take warning and do a good job in defense.