In order to explore the e-commerce enterprises currently exist in the main financial risks,this article to Alibaba as an example, using Harvard analysis framework, from the strategic, accounting, financial and prospects of the level of analysis.The research shows, alibaba's main financial risk exists with internal strategic decision-making risk, main business single risk, credit recovery risk, then give risk prevention advice, and it is expected to provide reference for the financial risk identification and management of e-commerce enterprises.