Research For The Economic Activities Analysis Of Thermal Power Enterprises Based On DuPont Model

With the continuous deepening of China's electric power system, electric power industry has basically realized the separation of enterprise from "Chang Wang Fen Kai, bidding" situation. The technical and economic evaluation index system which is settd up under the planned economic system can no longer meet the current power of the market economy' require. The current generation evaluation index system of power enterprise is still focused on cost analysis of the shortcomings, is a universal indicator system and lacks the specific of power plant. In this "Chang Wang Fen Kai, bidding" market environment, the electric power market has put new demands on the economic activities analysis of thermal power enterprises.Therefore, the thermal power plant was an urgent need for a scientific and reasonable economic efficiency index system to carry out a scientific and rational analysis of economic activity through rightly organizing and effectively carrying out analytical work so as to correctly understand the inherent laws of enterprises' economic activities and increase economic efficiency.Accordingly this paper first analyzes economic activity疤?icators of the thermal power enterpr??. Based on it this paper sums up and establishes economic activities analysis indicator system which conforms to the electric power market according to the DuPont model. Simultaneously it would use the comparative analysis, ratio analysis, differential revised factor analysis and sensitivity analysis compatible with the index system. Then it focuses on establishing thermal power production and operations analysis models of sales of electricity, unit sales of electricity, cost of power products, fuel costs etc from profits and costs perspectives according to the inherent characteristics of thermal power enterprise and reveals the intrinsic link between indicators and the total target profit by the works above. Finally, it analyzes datas of A thermal power production and operation and the corporate profitability ratios, solvency ratios, growth capacity ratio, liquidity ratio of it and gets some conclusion such as controlling costs, increasing electricity sales and electricity price. Specifically it puts forward some advice about the alliance with the coal-producing area, extension upward, formation of produce - supply - burn - generate power in order to ease the cost of the proposal in connection with the current shortage of coal resources leading to increase of coal-fired costs.