Finanical Analysis Of Henan AnCai High Technology Co.Ltd Based On Harvard Analytical Framework

As the most rapidly developing economy in the world,China's technology and application in the field of photovoltaic power generation are just at the lower level of the world.In China,the rapid development of PV industry has formed a relatively complete PV manufacturing industry system,but at present,the main problem is:serious excess capacity,excessive dependence on external demand market,enterprises operating difficulties.In the long run,the development of photovoltaic power generation industry is bound to the process of human history,there will be a greater development in the world,the photovoltaic glass will have more and more demand,which is undoubtedly a full of opportunities in the industry.In addition,fossil energy is the most important power to support the global economic progress,natural gas is a low carbon energy in this kind of energy,its value is becoming more and more prominent.In recent years,the rapid changes in the world's political landscape,natural gas supply and demand has changed,climate changed and the requirements of environmental protection changed.The unconventional gas production in US,the interference of the nuclear issue in Japan,and the new energy technology and cost is enhancing the national focus on natural gas.The development of natural gas will continue to expand.Under the pressure of the fog and haze,coal has once again become a target for all.Therefore,China has begun to promote the use of natural gas and other clean energy.HENAN ANCAI HIGH TECHNOLOGY CO,LTD(ACHT)is a national new and high-tech enterprises,is the only listing company which is specializes in photovoltaic glass industry and natural gas transport industry in Henan Province.Thus,this essey will set ACHT as a subject investigated,based on the past and present financial data of the enterprise to conduct a comprehensive evaluation of the enterprise,hoping to provide a valuable basis for management,and provide information purposes for the investors.The development of enterprises can not be separated from the efficient operation,efficient financial analysis can be found in the management of its operation,so as to provide the corresponding improvement suggestions for the management.In the academic theory,many scholars have proposed different financial analysis methods and financial index.Most of them are based on detailed financial data of the enterprise.The timeliness and reliability of these data will affect the validity of financial analysis,so it can not provide valuable data and information for the enterprise.Therefore,we needhigh efficiency and full range of methods to analyze the overall operation of the enterprise.In order to get rid of the shortcomings of the traditional financial analysis framework,the essay select the famous Harvard analytical framework to analysis the2010-2014 ACHT's financial statements.Firstly,the basic logical framework of this structure is introduced.Secondly,according to the structure to analysis the four dimension,then it will make strategic analysis,accounting analysis,financial analysis and prospects analysis of ACHT in turn.Through strategic analysis,it is clear that the operational environment and strategic deployment.Accounting analysis evaluate the company's core financial system and the quality of information disclosure,to ensure the reliability of the results of the financial analysis.In addition,through the cash flow analysis,the overall financial situation to be judged.Finally,in a qualitative way,it is estimated that the future development of the enterprise.Obviously,ACHT is in an important stage in the adjustment of industrial structure.The financial situation of the enterprise is not well,which is reflected in the poor profitability,insufficient growth,high operational and financial risk.However,the company's cash flow is sufficient,the ability to create value is strong,the company's operational efficiency continue to improve.With the continuous development of the natural gas and the photovoltaic industry,and upgrading of the management level of enterprise itself,it is expected that ACHT”s business performance will continue to improve.