Research On Sinovel Financial Crisis Causes And Countermeasures

Day by day the intense market competition lead to the enterprise external environment being more complicated. operating and financial risk being on the increase, focus on preventing the happening of the financial crisis has become on the major issues. Especially for the wind power manufacturing industry, going by nearly five years high-speed expansion development, with the adjustment of industrial policy, the problem about the accumulation of excess capacity agglomerated and broken out. the wind industry has been the cyclical trough. The fan manufacturers’ operating conditions continued to deteriorate represented by the Sinovel, and the performance has fallen sharply. So it has strong practical significance to research on the financial crisis causes and countermeasures.Thesis made the Sinovel as study object, mainly described the the crisis by the financial statements data from 2010 to 2013 Research on influencing factors from external economic environment and internal operation management in depth, to explore its root reasons of the financial crisis, so as to take effective measures to prevent the enterprise financial conditions to deteriorate further, and make the enterprise gain profit in the development, realize sustainable development. Specifically,thesis mainly divided into the following several parts:First, thesis introduced the relevant theories of enterprise financialcrisis causes and countermeasures, according to the theory of crisis life cycle and enterprise survival factors for clues, and then drive the theme of the thesis by the literature review and summarize raises. Followed by case analysis on the sinovel, based on the theories of financial crisis, analyzed its financial situation and operation situation from 2010 to 2013, and dissected the internal and external influence factors of the enterprise financial crisis in-depth, which could purposefully provide some theoretical basis for its response to the financial crisis and practical advice. Finally, thesis drew a conclusion through the case analysis, and demonstrated the deficiency in the process of research, put forward the vision of the future. To provide reference to control and deal with financial crisis for wind power manufacturing enterprises, and provided a valuable reference for investors to understand the status of the enterprise management and future development prospect in time. Furthermore it could offer reasonable basis for creditors to accurate evaluation of enterprise future solvency and reduce the risk of bad debts. Moreover, it also could make regulators to function and standardize market order better, protect the legitimate interests of relevant subjects.