老凤祥股份有限公司综合财务分析报告

学士学位论文

题目老凤祥股份有限公司综合财务分析报告

姓名张媛媛

学号415417180918

专业会计学

指导教师绳朋云

二〇一九年五月三十日

摘要

近年来，随着小型珠宝品牌的逐步出现及崛起，传统珠宝行业受到冲击，尤其是作为百年老字号的“老凤祥”品牌企业，在现今的背景下，该如何保持优势地位、占领市场是重中之重。这篇论文经过对老凤祥股份有限公司2014年到2018年的数据进行了全面的剖析，从而更加周全的认识老凤祥的财务状况。并与同行企业明牌珠宝、行业优秀值以及行业均值进行数据对比，发现老凤祥存在存货管理风险、应收账款周转率下降、偿债能力弱的问题，提出改进意见即应该从提高销售量，管理库存产品、缩减赊销，减少应收账款、减少负债，及时偿还，提高现金流动负债比三个方面进行解决，保证企业在未来的发展拥有良好的竞争力和生命力。

关键词：营运能力盈利能力偿债能力发展能力

ABSTRACT

In recent years, with the gradual emergence and rise of small jewelry brands, the traditional jewelry industry has been impacted. Especially as a century-old brand "Lao Fengxiang", under the current background, how to maintain the dominant position and occupy the market is the most important thing. This paper has a comprehensive analysis of the data of Lao Fengxiang Co., Ltd. from 2014 to 2018, so as to have a more comprehensive understanding of Lao Fengxiang's financial situation. Comparing with the data of famous jewelry, excellent value of industry and average value of industry, we find that Lao Fengxiang has the problems of inventory management risk, increasing competition, decreasing market share, decreasing total cash debt ratio and poor financial flexibility. We put forward some suggestions to improve Lao Fengxiang's inventory management risk, increasing inventory turnover rate, improving its competitiveness and seizing the market. Share and reduce liabilities, timely repayment, enhance the net cash recovery rate to solve the three aspects, to ensure that enterprises have good competitiveness and vitality in the future development.

Key words:Operating Capability Profitability Debt Solvency Development Capability

目录

摘要.................................................................................................................... I ABSTRACT.................................................................................................................. II 1企业概况. (1)

1.1企业简介 (1)

1.2研究背景 (1)

2报表分析 (2)

2.1资产负债表分析 (2)

2.1.1垂直分析 (2)

2.1.2水平分析 (3)

2.2利润表分析 (4)

2.2.1垂直分析 (4)

2.2.2水平分析 (5)

2.3现金流量表分析 (6)

2.3.1垂直分析 (6)

2.3.2水平分析 (7)

3能力分析 (8)

3.1盈利能力分析 (8)

3.1.1净资产收益率 (8)

3.1.2盈利现金比率 (9)

3.1.3净资产现金回收率 (10)

3.2偿债能力分析 (10)

3.2.1资产负债率 (10)

3.2.2现金流动负债比率 (11)

3.2.3现金债务总额比率 (12)

3.3营运能力分析 (13)

3.3.1总资产周转率 (13)

3.3.2存货周转率 (13)

3.3.3应收账款周转率 (14)

3.4发展能力分析 (15)

3.4.1总资产增长率 (15)

3.4.2净资产增长率 (16)

3.4.4净利润增长率 (17)

4问题及对策 (17)

4.1问题 (17)

4.1.1营运能力中存货周转率较低 (17)

4.1.2营运能力中应收账款周转率下降 (18)

4.1.3偿债能力中偿债能力弱 (18)

4.2对策 (18)

4.2.1提高销售量，管理库存产品 (18)

4.2.2缩减赊销，减少应收账款 (19)

4.2.3减少负债，及时偿还，提升现金流动负债比 (19)

结论 (19)

致谢 (20)

参考文献 (21)