基于财务报表分析的企业发展战略分析——以c集团为例

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1、AbstractInrecentyears,thecompetitionwithinChina’sdomesticcoalindustryisincreasingandallthecoalcompaniesareundergreaterpressureastheresultsofexcessiveproductioncapacity,worldeconomydownturnandstructurereformofresourcesector.Cgroupneedstodetermineitsgrowthstrategyin

2、ordertocopewiththecurrenteconomicandmarketconditions.DocumentaryResearchMethodandacombinationofqualitativeandquantitativeanalysisareusedinthispaper.Coalindustryrelatedinformationanddataisobtainedthroughvariouspublishedreportsanddocuments.Qualitativeanalysisinclude

3、scalculatingfinancialratiosandquantitativeanalysisisbasedonthecompanystrategiesincomparisonwithindustrystandards.Thispaperconsistsofthreeparts.Firstly,Cgroup’sexternalbusinessenvironmentisexplainedwithPESTmodelandPorter'sFiveForces.Secondly,withthereferenceofanoth

4、ersimilarcompanyinthesameindustry,Cgroup’sfinancialstatementsareanalyzedinthreeaspectsincludingoperationstrategy,investmentstrategyandfinancingstrategy.Finally,weconcludewithourrecommendationsinrelationtothecurrentcorporatestrategiesandfuturebusinessdevelopments.B

5、asedontheanalysisofCgroup’sstrategiesintheabove3aspects,wesuggestthefollowing:1)withitslargefixedassetratio,Cgroupshalllimititsfutureinvestmentsprovidedwiththecurrentindustrydownturn;2)Cgroupshouldutilizethecoalresourcebyincreasinginvestmentinitscoal-chemicalbusin

6、essunitinordertoreduceoperationrisksandincreaseoverallprofitabilityandstabilitybytransferringprofitsfromonebusinessunittoanother;3)productioncutorpricereduction,Cgroupcouldadopteitherorbothstrategiestomaintainprofitability;4)withthenewpolicyofreducingexporttariffo

7、ncoal,expandingexportbusinessbecomesaneffectivewaytoreduceoversupplyandmaintainprofitability.Thechiefinnovationofthepaperincludes:integratedapproachofbothpracticalanalysisofcorporatestrategiesandtheoreticalanalysisoffinancialstatement;establishmentofafinancialstat

8、ementanalysisframeworktocoverthethreeareasofoperation,investmentandfinancing.Limitationsinthispaperinclude:onlydatafromCgroup’sannualreportsisused.Infor