华锐风电科技盈利能力分析-毕业论文

华锐风电科技盈利能力分析

摘要 本文以华锐风电科技（集团）股份有限公司为研究对象，以该公司盈利能力分析为研究理论基础，运用调查分析法、定量分析法、文献分析法等方法。从投资盈利能力、经营盈利能力、上市公司盈利能力、盈利能力质量分析的角度对华锐风电科技（集团）股份有限公司三年的盈利能力进行具体分析，指出了企业盈利能力分析指标中出现的息税前利润率、净资产收益率、资本金利润率、营业利润率、存货周转率等指标比率过低的问题，并在此基础上从提高销售能力和降低成本、筹措资金、选择合理的盈利模式、降低期间费用等方面提出了切实可行的对策和建议。通过本课题的研究找出帮助公司改善经营管理状况并充分利用现有资源的方法，以提高企业的行业竞争能力和获利能力。

关键词：盈利能力利润净资产收益率

I

Abstract In this paper, Sinovel Technology (Group) Co., Ltd. as the research object to the company's profitability analysis for the study of the theoretical basis, using survey analysis, quantitative analysis, document analysis and other methods. Angle against Sinovel Technology (Group) Co., Ltd.-year profitability from investment profitability, operating profitability, the profitability of listed companies, the profitability analysis of the quality of specific analysis, profitability analysis points out the indicators appear Pre-tax profit margin is too low interest issues, ROE, capital margins, operating margins, inventory turnover rate, and on this basis, from improved sales capacity and reduce costs, raise funds, select a reasonable profit model costs and other aspects of the period, reducing the proposed practical measures and recommendations. By studying this subject to find help companies improve their business management situation and make full use of existing resources, methods to enhance industry competitiveness and profitability.

Key words: Profitability; Profit; ROE

II

目录

摘要„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„I Abstract„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„II 1 前言„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„1

1.1 研究的目的和意义„„„„„„„„„„„„„„„„„„„„„„„„„„1

1.2 国内外研究文献综述„„„„„„„„„„„„„„„„„„„„„„„„„1

1.3 本文研究的主要内容„„„„„„„„„„„„„„„„„„„„„„„„„2 2 华锐风电科技概况„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„2

2.1 经营状况„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„2

2.2 财务状况„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„3 3 华锐风电科技盈利能力分析„„„„„„„„„„„„„„„„„„„„„„„„„„4

3.1资产盈利能力分析„„„„„„„„„„„„„„„„„„„„„„„„„„„„4

3.2 资本盈利能力分析„„„„„„„„„„„„„„„„„„„„„„„„„„„„5 4 企业盈利能力中存在的问题„„„„„„„„„„„„„„„„„„„„„„„„„„5

4.1 出现高投低收现象„„„„„„„„„„„„„„„„„„„„„„„„„„„„5

4.2 净资产收益率下降„„„„„„„„„„„„„„„„„„„„„„„„„„„6

4.3 资本金利润率偏低„„„„„„„„„„„„„„„„„„„„„„„„„„„6 5 增强企业盈利能力的对策建议„„„„„„„„„„„„„„„„„„„„„„„„„6

5.1 提高销售能力„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„6

5.2 降低存货成本„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„7

5.3 合理控制期间费用„„„„„„„„„„„„„„„„„„„„„„„„„„„„7

5.4 建立和选择盈利模式„„„„„„„„„„„„„„„„„„„„„„„„„„„8

5.5 完善企业管理制度„„„„„„„„„„„„„„„„„„„„„„„„„„„„8 参考文献„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„9 致谢„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„„10 III

1 前言

1.1 研究的目的和意义

本课题研究的问题是华锐风电科技（集团）股份有限公司盈利能力分析。利润是企业内外各利益相关者都关心问题，是投资者取得投资收益、债权人收取本息的资金来源，是经营者经营业绩和管理效能的集中表现，也是职工集体福利设施不断完善的重要保障。因此，企业盈利能力分析十分重要。盈利能力是企业经营人员最重要的业绩衡量标准和发现问题、改进企业管理的突破口。对企业经理人员来说，进行企业盈利能力分析的目的具体表现在两个方面：利用盈利能力的有关指标反映和衡量企业经营业绩；通过盈利能力分析发现经营管理中存在的问题。由于从2010年到2013年华锐风电科技（集团）股份有限公司营业利润出现逐年降低的状况，因此本文对华锐风电的盈利能力进行分析，并找出引起企业营业利润降低的根本原因、提出增强企业盈利能力的对策，有利于提高企业盈利能力。

1.2 国内外研究文献综述

杨丽在《上市公司盈利能力分析》一书中提出，由上市公司自身特点所决定，其盈利能力分析除了可以通过一般企业盈利能力的指标分析之外，还应该进行一些特殊指标的分析。饶峰旭，段理，胡刘平在《上市公司盈利能力分析》里谈到从企业长远发展来看，只有保持强有力的盈利能力，企业才能持续健康发展。周硕在《企业盈利能力分析研究》提到提升企业盈利能力，应选择合适的提高企业盈利能力的方式，使用财务方法建立提高企业盈利的理想模式。刘颖在《浅谈企业盈利能力分析》中谈到企业资产运营效率对企业盈利能力也是有影响，企业可以通过加强内部管理，提高资产管理效率进而推动企业提高盈利能力。徐煦在《新会计准则下企业盈利能力分析》中说到对企业盈利能力的分析,在新准则下,更强调资产负债表、利润表、所有者权益变动表、现金流量表、报表附注等信息的全面勾稽分析,需要分析者更深厚的专业底蕴。

亚历山德罗会典和保罗·妮在《意大利大型公司的生产力和盈利能力分析：1998–2002》中写到盈利能力和生产力在意大利的大型工业领域运营中是决定性因素。佚名在《研究和市场: 昆士兰银行有限公司的公司概况描述,最近的股市表现, 盈利能力分析,股息分析和关键数据项》中对企业财务报表进行定量分析，采用资产利润率、流动比率分析，盈利能力分析 1

和专有的莱特质量评级衡量企业风险。皮特·斯蒂芬和卡多斯 Il吉科雷卡的《客户管理和成本核算方法的盈利能力分析》中指出客户的忠诚度可以长期提高企业盈利能力。Nosheen塔里克Bhutta1，艾尔沙德·哈桑2在《在食品行业的公司特定因素对企业的盈利能力的影响》中提到一个微不足道的负相关关系是债务之间观察到公司及其盈利能力的股权。

1.3 本文研究的主要内容

本文研究内容分为五个部分：

1.华锐风电科技（集团）股份有限公司概况，这一部分主要从经营状况、财务状况两个方面对企业的具体情况进行介绍。

企业盈利能力分析，这一部分主要通过对企业的投资盈利能力、经营盈利能力、上市公司盈利能力、企业盈利能力质量、营运能力进行分析，最后根据分析结果对企业盈利能力做出评价。

企业盈利能力存在的问题，这一部分是根据第二部分的盈利能力指标分析数据，找出企业盈利能力指标中出现的高投低收现象、净资产收益率下降、资本金利润率偏低、营业利润率过低和存货周转率降低等问题。

企业盈利能力问题的成因，这部分从财务报表内部、外部项目对盈利能力的影响做出了具体分析。

增强企业盈利能力的对策，根据第三部分发现的企业盈利能力分析中的问题及第四部分的成因，本文提出了提高销售能力、降低存货成本、发行有价证券、合理控制期间费用、建立和选择盈利模式和加强企业管理制度六个解决对策。

采用的方法：

本文分别采用了调查分析法、定量分析法和文献分析法这三种方法进行课题研究。

2 华锐风电科技概况

2.1 经营状况

2013年，国内外经济形势依然严峻，国际经济仍处于调整后的复苏期，国内经济面临一定下行压力，总体经济运行稳中向好。根据中国风能协会统计，2013年，中国（不包括台湾地区）新增装机容量16,088.7MW，同比增长24.1%，但风电行业在经历了几年的调整期后引发的各种困难和问题，尚难以在短期内得到根本性解决和扭转。因此，华锐风电科技 2