【作者】 文汇锋；

【导师】 孙璐；

【作者基本信息】 四川大学 ， 工商管理， 2003， 硕士

【摘要】 企业是社会经济的细胞，股份制企业是社会经济细胞中较活跃的群体。本文选择了自己熟悉的“债转股”企业——四川槽渔滩水电股份有限公司作为经济考察和财务分析的对象。试图通过对该公司发展的全过程进行由外到内地剖析，揭示在社会主义市场经济条件下企业生存和发展的客观规律。 第一部分，公司背景分析。对公司的产生、发展以及变化进行了简要地介绍，使读者对公司有一个总体的感性认识。 第二部分，公司SWOT分析。通过分析公司外在机会和威胁以及内在的优势和劣势，使我们对公司所处的环境有一个比较直观地了解：公司以水力发电作为主业，属朝阳产业，公司有发展潜力。但电力需求市场变幻莫测，时而供不应求，时而供过于求，这将给公司的经营和发展既带来了机会，又构成了威胁，但总的讲机会大于威胁。随着国家电力体制的改革，企业将失去一些原有的优势，故公司必须进行调整和改革。 第三部分，公司的财务分析。首先，提出了财务分析的理论依据、主要内容和基本方法。接着围绕企业价值和风险水平两个因素，从财务报表的调整、资本结构分析、资产运营效率、盈利能力分析、偿债能力分析、现金流量分析和公司综合分析七个方面，尽量全面、客观地阐述公司的财务状况及经营成果。分析中，混合采用了比率法、比较分析法和趋势分析法，并采用了国际上广泛使用的杜邦分析法对企业进行综合分析。最后，针对公司在盈利能力和风险水平上存在的问题，提出了加强财务管理的意见。 第四部分，公司未来发展分析。根据当前面临的形势，从公司发展和自身的产业特征出发，提出了公司未来发展的三种思路:发展水电，实施可持续发展战略;调整结构，产业升级，进一步发挥电冶产业链的作用:建设“生态槽渔滩”，提升公司整体形象和效益。 总之本报告力求采用一套完整的分析体系，透过公司财务变化的趋势和原因，找出目前存在的主要问题，寻求新的对策和思路，形成企业发展的战略构想。 本文对公司的财务分析带有明显的讲义和评论的迹象，就是对企业发展的预测，也还要经受当时社会实践的检验.更多还原

【Abstract】 The enterprises are the cell of social economy. The corporations, which are on the stock market, are the most active colony in them. This article chooses a corporation, which the author is familiar with the feature of changing the bonds tothe stocks’--Sichuan Cao Yu Tan, as the target of economy investigation andfinancial analysis. In this report, through analyzing the whole process of the corporation from external to internal, the author tries to reveal the objective law of the existence and development of the enterprises under the conditions of socialist market-oriented economy.The first part is the analysis of the background of the corporation. Making the brief introduction of the beginning, developing and changing of this corporation, and giving the readers the direct general meaning.The second part is the analysis of SWOT. Through analyzing the external opportunities and threats, as well as the internal strengths and weakness of the corporation, namely, analysis of SWOT, it will make us have a direct comprehension about the backgrounds of the corporation. The company regards the hydroelectric power as the main business, which is the absent and causes the company to be potential. But the electric market is changeable and is always out of control, so that the company possess both of the opportunities and challenges, but the opportunities is more than the challenges.The third part is the financial analysis of the operation of the corporation. Firstof all, the author puts forward the theoretic foundation, main content and primary means of financial analysis. Secondly, with a total and objective view to explain the situation of finance and operation of the corporation, the author chooses two factors, which decide the value of enterprises. Profitability and level of risk, and seven aspects: the adjustment of financial statements, the analysis of capital structure, the analysis of assets operation efficiency, the analysis of profitability, the analysis of debt redemption, the analysis of cash flowing and the synthetic analysis of the corporation. In this analyzing system, the author uses three analytic means including ratio means, comparing means and tendency means. Besides, the author uses Du Pont system that used all over the world individually. Finally, the author presents viewpoints on strengthening the financial management of the corporation in accordance with the problems of the corporation on profitability and the level risk.The last part is the analysis of the prospect of the corporation. On the basis of the current situation, and relevant environment of the development of the corporation and its industrial characters, the author submits three models of the development of the corporation in the future: improving hydroelectric power and undertaking continuous development strategy, adjusting the structure and expressing more advantages of electric client, putting up the ’natural Cao Yu Tan’ and make the further promotion of the comprehensive image and benefits of the company.In the words, in this report, through adopting a total analyzing system, the author tries to see through the tendency and reasons of financial changes in the corporation, and find the questions of the enterprise, and seek the new countermeasure and thinking, thereby form strategic ideas about the development of the enterprises.Anyway, the face of the changeable capital operation, this report is an investigation and research one. So, it is not only marked with creed and commentary, and the prediction is also need be verified by social practice in the future.更多还原