吉林敖东药业集团股份有限公司财务分析
发布时间：2019-05-10 15:24
【摘要】：进入21世纪,人们生活水平不断提高,但是人口的过度增长、社会的老龄化问题突显,同时人们更加关注自己的亚健康状态,因此对新的治疗方法和新的药物的需求将持续扩大,医药企业的春天正悄悄地到来。如何保持自己稳定的市场占有率,不断地提升自己的竞争优势是医药企业不可回避的重要课题。作为医药行业的龙头,吉林敖东药业集团股份有限公司(以下简称吉林敖东公司)为我国医药行业的发展,尤其是中医药的发展做出了巨大贡献。 本文以吉林敖东公司2007-2011年5年的财务报告数据为基础,利用上市公司财务指标体系“证星-若山风向标”框架,进行公司偿债能力、资产负债管理能力、盈利能力、成长能力与现金流量五个方面的财务分析,并对公司2007年-2009年的财务评分与行业评分情况进行比较,客观评价公司在医药行业中的优势地位。另外,本文还利用沃尔比重评分法对2010年和2011年的五项能综合评分情况进行比对。同时,本文采用两种财务分析体系对净资产收益率进行影响因素分析,揭示影响权益净利率的关键性因素；另外,本文对吉林敖东公司经济增加值(EVA)和净利润指标进行对比,说明采用经济增加值指标进行财务评价得出的结论更加科学；本文还对吉林敖东公司的主营业务和影响财务分析结果的重要非财务指标进行简单阐述。 分析结果表明：吉林敖东公司四项能力财务指标均优于医药行业平均水平,；影响净资产收益率的主要指标是营业净利率和净经营资产利润率；经济增加值(EVA)在决策时更符合实际；华东地区的中成药收入是公司主营业务的重点。 希望通过本文的财务分析,帮助公司投资者或潜在投资者对吉林敖东公司财务状况、经营成果和现金流量做出客观评价。
[Abstract]:In the 21st century, people's living standards continue to improve, but the excessive growth of population, the aging of society is prominent, at the same time, people pay more attention to their own sub-health status. Therefore, the demand for new treatments and new drugs will continue to expand, and the spring of pharmaceutical enterprises is quietly coming. How to maintain their stable market share and constantly improve their competitive advantage is an important issue that pharmaceutical enterprises can not avoid. As the leader of the pharmaceutical industry, Jilin Aodong Pharmaceutical Group Co., Ltd. (hereinafter referred to as Jilin Aodong Company) has made great contributions to the development of China's pharmaceutical industry, especially the development of traditional Chinese medicine. Based on the financial report data of Jilin Aodong Company from 2007 to 2011, this paper makes use of the framework of listed company's financial index system "witness star-Ruoshan wind vane" to carry out the solvency, asset and liability management ability and profitability of the company. The financial analysis of growth ability and cash flow is carried out, and the financial score and industry score of the company from 2007 to 2009 are compared, and the dominant position of the company in the pharmaceutical industry is objectively evaluated. In addition, this paper also uses Wall specific gravity score method to compare the comprehensive scores of five items in 2010 and 2011. At the same time, this paper uses two kinds of financial analysis systems to analyze the influencing factors of the rate of return on net assets, and reveals the key factors that affect the net interest rate of equity. In addition, this paper compares the economic value added (EVA) and the net profit index of Jilin Aodong Company, which shows that the conclusion of using the economic value added index to carry on the financial evaluation is more scientific. This paper also briefly expounds the main business of Jilin Aodong Company and the important non-financial indexes that affect the results of financial analysis. The results show that the four financial indexes of Jilin Aodong Company are better than the average level of pharmaceutical industry, and the main indexes that affect the rate of return on net assets are the operating net interest rate and the profit rate of net operating assets. The economic value added (EVA) is more in line with the reality in the decision-making, and the income of proprietary Chinese medicine in East China is the focus of the company's main business. Through the financial analysis of this paper, I hope to help the investors or potential investors to make an objective evaluation of the financial situation, operating results and cash flow of Jilin Aodong Company.
【学位授予单位】：长春理工大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F426.72;F275
本文编号：2473765
[Abstract]:In the 21st century, people's living standards continue to improve, but the excessive growth of population, the aging of society is prominent, at the same time, people pay more attention to their own sub-health status. Therefore, the demand for new treatments and new drugs will continue to expand, and the spring of pharmaceutical enterprises is quietly coming. How to maintain their stable market share and constantly improve their competitive advantage is an important issue that pharmaceutical enterprises can not avoid. As the leader of the pharmaceutical industry, Jilin Aodong Pharmaceutical Group Co., Ltd. (hereinafter referred to as Jilin Aodong Company) has made great contributions to the development of China's pharmaceutical industry, especially the development of traditional Chinese medicine. Based on the financial report data of Jilin Aodong Company from 2007 to 2011, this paper makes use of the framework of listed company's financial index system "witness star-Ruoshan wind vane" to carry out the solvency, asset and liability management ability and profitability of the company. The financial analysis of growth ability and cash flow is carried out, and the financial score and industry score of the company from 2007 to 2009 are compared, and the dominant position of the company in the pharmaceutical industry is objectively evaluated. In addition, this paper also uses Wall specific gravity score method to compare the comprehensive scores of five items in 2010 and 2011. At the same time, this paper uses two kinds of financial analysis systems to analyze the influencing factors of the rate of return on net assets, and reveals the key factors that affect the net interest rate of equity. In addition, this paper compares the economic value added (EVA) and the net profit index of Jilin Aodong Company, which shows that the conclusion of using the economic value added index to carry on the financial evaluation is more scientific. This paper also briefly expounds the main business of Jilin Aodong Company and the important non-financial indexes that affect the results of financial analysis. The results show that the four financial indexes of Jilin Aodong Company are better than the average level of pharmaceutical industry, and the main indexes that affect the rate of return on net assets are the operating net interest rate and the profit rate of net operating assets. The economic value added (EVA) is more in line with the reality in the decision-making, and the income of proprietary Chinese medicine in East China is the focus of the company's main business. Through the financial analysis of this paper, I hope to help the investors or potential investors to make an objective evaluation of the financial situation, operating results and cash flow of Jilin Aodong Company.
【学位授予单位】：长春理工大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F426.72;F275
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