Financial Performance, Policy And Strategy Of Yanjing Brewery Co., Ltd

Beer industry is one of the industries that play an important role in the national economy,which is always being the focus of the society.In general,Chinese beer market has been keeping rapid growth since the Reform and Opening-Up of policy.In 2002,China surpassed the United States for the first time and became the World's No.1 beer producer.However,at present,the national brand in China does not assort with China's beer production and marketing position for lacking of world famous brands. Therefore,the thesis chooses Beijing Yanjing Brewery Co.,Ltd.(referred to as "Yanjing Beer" below) that is the only famous listed company without foreign capital as the research target to analyze its final performance,policy and strategies in order to assist the managers and investors to get clear ideas about its developing trend,naturally, the thesis attaches some practical and strategical significances.The thesis presents the development of China's beer industry and the basic situation of Yanjing Brewery,studying its business strategy at the beginning,then,to combine with analysis of its financial performance and understand the financial policy of Yanjing Brewery.Finally,the thesis will explore and provide some suggestion for its financial strategies through the matrix of financial strategy.The author has found that the general financial situation keeps a healthy development,but the assets of the operating and liquidity indicators are not good enough through the analysis of Yanjing Brewery.As for financial policy,capital structure of Yanjing Brewery and working capital management policy can be adjusted appropriately;dividend policy adjustments should be done.The author suggests that Yanjing Brewvery should continue to adjust product structure,stabilize market shares and improve the efficiency of working capital assets as well as strengthen production management,sales management to suit the economic situation and the development of the company's overall business strategy.The study of the thesis enables me to have a deeper understanding of the development of Yanjing Brewery overall business strategy and financial strategy,and to some extent,provide investors and corporate managers with a reference for decision-making.