新能源发电企业A公司盈利能力分析与提升研究

发布时间：2018-01-15 20:22

本文关键词：新能源发电企业A公司盈利能力分析与提升研究　出处：《北京交通大学》2017年硕士论文　论文类型：学位论文

更多相关文章： 盈利能力 电价 成本费用 融资方式 限电

【摘要】：电力已成为能源发展的中心、国民经济和人民正常生活的必需品,解决人类未来的能源问题将依赖于新能源电力。在全面深化改革和经济新常态的背景下,中国电力行业正在发生革命性转变,"十三五"推进电力供给侧结构性改革,关键是要有效控制火电建设规模,优化增量结构,火电"急刹"已成为必然。与火电命运截然不同的是,面对国家对新能源电力企业的大力支持,积极的政策为新能源建设提供了契机。近几年来,风电和光伏发电在个别省市地区出现了比较严重的弃风弃光现象,如果新能源企业继续保持装机容量的飞速扩张,可持续发展能力必定会下降。因此,本文以新能源电力企业A公司为例,研究的核心问题是:新能源电力企业盈利能力下降的原因?如何提升公司的盈利能力?本文首先首先参考了国内外相关文献,在杜邦分析体系的基础上,增加了现金流量和企业可持续增长对盈利能力的影响,构建了盈利能力分析体系,指出其盈利能力的三个核心要素,即盈利性、获现性、成长性。其次对新能源发电行业发展现状进行简要分析,为下文深入研究A公司的盈利能力作铺垫。通过构建的盈利能力分析体系,以A公司的实际数据为基础,运用科学的分析方法从三个维度进行具体指标计算和指标对比,发现影响盈利能力的影响因素:外部因素为市场过热导致资产规模扩张,规模增加导致弃风弃光现象,使得发电量下降,加上标杆电价逐步下调,限电产生交易低电价,导致收入和利润的降低,大量的应收电费补贴使得资金流动性降低,盈利能力下降;内部因素为预算管理薄弱、期间费用增加过快,高额的财务费用制约公司融资能力,最终导致公司的盈利能力出现下滑。最后,针对上述影响因素,本文提出了公司发展战略和内部经营管理两个方面的建议。第一,优化公司未来发展战略包括改变投资方向,扩大盈利渠道;优化资源配置,降低限电率;加强电力营销,扩大收入水平。第二,强化公司内部经营管理包括有效控制成本费用;合理选择发电设备,降低故障率,增加发电量;加强应收账款的回收管理,增加现金流动性;优化融资方式,降低财务费用。
[Abstract]:Electric power has become the center of energy development, the necessities of the national economy and people's normal life, to solve the energy problem of the future of mankind will depend on the new energy power. In the comprehensive deepening of reform and economic new normal under the background of China power industry is undergoing a revolutionary change, "13th Five-Year" to promote the power supply side structural reform, the key is to effectively control of thermal power plant construction scale, optimize the structure of power increment, "emergency brake" has become inevitable. With the power of fate is different, in the face of state support for new energy power enterprises, provided an opportunity for positive policy for the construction of new energy. In recent years, wind power and photovoltaic power generation has abandoned abandoned light wind the more serious phenomenon in the individual provinces and regions, if new energy enterprises continue to maintain rapid expansion of installed capacity, the ability of sustainable development will decrease. Therefore, based on the new energy power enterprises A company as an example, the key issue of the study is: the decline in the profitability of new energy power enterprises? How to enhance the company's profitability? Firstly, the first reference to the related literature at home and abroad in the DuPont analysis system based on the increase of cash flow and enterprise sustainable growth impact on the profitability of the construction of the profitability analysis system, points out the three core elements, namely the profitability of its profitability, cash, growth. Secondly, a brief analysis of the current situation of the development of new energy industries, which paves the way for the following research of A company's profitability. By constructing the profitability analysis system, based on the actual data of A company based on the use of scientific methods of analysis and comparison of the calculated index of specific indicators from three dimensions, finding the influence factors of profitability: external factors for market expansion caused by thermal assets Zhang, the scale of increase in abandoned abandoned wind light phenomenon, making the power generation capacity decreased, and the benchmark price gradually reduced, limiting transactions with low price, which leads to the decrease of income and profits, a large number of accounts receivable liquidity makes electricity subsidies reduced, the decline in profitability; internal factors for budget management is weak, the increase in expenses too quickly. High financial costs restrict the company's financing capacity, resulting in the company's profitability declined. Finally, according to the above factors, this paper puts forward some suggestions on two aspects of the company's development strategy and internal management. First, the future development strategy includes changing the direction of investment optimization company, expand the profitable channels; optimize the allocation of resources, reduce power rate; strengthen power marketing, expand the level of income. Second, strengthen the company's internal management including the effective cost control; reasonable choice of power generation equipment, reduce the failure rate, Increase the power generation capacity; strengthen the recovery management of accounts receivable, increase the liquidity of cash, optimize the financing way, and reduce the financial cost.

【学位授予单位】：北京交通大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F406.7;F426.61

【参考文献】