证券投资学-个股分析论文-英文

宁波大学答题纸

（20 14 —20 15 学年第二学期）

课号：017K08S01 课程名称：证券投资学改卷教师：苏小松

学号：126150121 姓名：卓婷婷得分：

The Overall Analysis of Da Tong Gas

Abstract:

In this thesis, Da Tong Gas is picked out to be a sample to analyze. The content includes company brief introduction, business scope statement, industrial development and competition, technical analysis and financial situation.

Body:

1. Brief introduction

Da Tong Gas:

The full name of this company is Gas Development Corp. It belongs to city gas pipeline industry and retail goods, that is of comprehensive industry. The company's service philosophy is " to be inclusive, serve public and feedback to society."

Its predecessor is Chengdu Aquatic Co., after years of joint-stock operation, the company has developed into a large-scale wholesale and retail combined and mainly retail-oriented commercial listed companies.

2. Business Scope

Da Tong Gas mainly focuses on urban gas pipeline and retail.

But its business scope is very wide, including city gas pipeline industry, retail trade, manufacturing, marketing, western medicine, pharmaceutical raw materials, Chinese herbal medicines and health products; research and development of hi-tech technology and products; investment and development of real estate projects; wholesale and retail trade catering; warehousing services, industrial investment...

3. Industrial development and competition

In terms of urban gas pipeline:

The State Council recently issued a clear overall objectives on “2014-2020 Strategic Action Plan for Energy Development”.

It put forward strategies and tasks to adjust energy development, proposed to actively develop clean energy, reduce the proportion of coal consumption, and promote the continuous optimization of energy structure. Therefore, natural gas will be used as main energy in short and medium term to achieve the goal.

At present, international oil price goes down, which brings opportunities to domestic energy price revolution. Then natural gas prices will become more rationalized, and it will gradually establish a price linkage mechanism. It will attract more consumption of gas, and finally pushes economy to better stage.

It is predicted that by 2020, China's consumption of natural gas will reach 375 billion cubic meters, taking up more than 10% consumption of proportion of national energy. All above is positive for the development of Da Tong Gas in gas industry.

In terms of the retail industry:

According to the National Bureau of Statistics data, in 2014 China's total retail sales reached 262,394 hundred million yuan, increasing by 12% (after deducting price factors, the actual growth is 10.9%). While online retail sales is 27,898 hundred million yuan, 49.7 percent than the previous year. E-commerce develops more rapidly than the real retail trade. Sales-based retail faces a challenge caused by E-commerce, resulting in revenue decline. While the labor cost is still huge, retail has to adjust mode of operation, find more new profit point and other multiple issues.

The integrated industry of city gas pipeline and retail, Da Tong Gas has two subsidiaries in the city gas pipeline industry in an exclusive monopoly, both of whom hold a steady growth in revenue and profit advantage.

Another subsidiary Chengdu Hualian Co., Ltd. is located in the downtown business district. It owns an universal acceptance from customers and trust of major suppliers in recent years, and it has stepped out for construction of membership. Despite the industry challenge caused by E-commerce, fortunately Da Tong is trying to be more competitive.