The Financial Statement Analysis On Shunfeng Holdings Under Harvard Analytical Framework

At present,the express industry in China is a fast-growing industry,has become an important part of the modern service industry,but also for China to promote the transformation of mobile and promote consumer upgrades play a leading role in the development and the prospects of express industry development are very broad.However,in the express development of the industry at the same time,there are many problems to be resolved on the process of enterprise development,especially in terms of financial aspects.Scientific financial statement analysis can help companies to discover problems in their own development in a timely manner,thus helping the company managers to make better decisions.The Harvard Analytical Framework devised by three colleague scholars at Harvard University,namely Krishna G.Palepu,Paul M.Healy,and Victor L.Bernard.As a new financial analysis system,Harvard analytical framework combines strategic analysis,accounting analysis,financial analysis and prospect analysis together to analyze the financial situation of the enterprise.Compared with other general financial analysis method,Harvard analytical framework can provide more scientific and effective decision support to enterprises.Shunfeng Holdings(Group)Co.,Ltd.is the largest enterprise in China's listed express delivery enterprises,Shunfeng has strong competitiveness in the industry and its financial data has the industry characteristics and its own characteristics,with strong research value.Based on the Harvard analytical framework,this paper analyzes the financial statements of Shunfeng Holdings from 2013 to 2015,it aims to make an objective evaluation of the financial status of Shunfeng Holdings and give reasonable suggestions for the development of the company.The paper is divided into seven chapters,the first and second chapters are introductions and related theories.It mainly introduces the research background,meaning,full text frame and related financial analytical theory foundation.The third to the sixth chapter are the four sections of the Harvard analytical framework.It includes accounting analysis,financial analysis and foreground analysis.These four chapters are the main elements of the Harvard analytical framework and the main part of the full text.The part of strategic analysis analyzes the development strategy of Shunfeng Holdings from the environment of big environment and industry development,and points out the profit motive and operational risk of the company,layingthe foundation for the last three analytical links.The part of accounting analysis analyzes the true validity of the financial data of the firm,laying the foundation for the subsequent financial analysis.The part of financial analytical analyzes the composition of the financial statements and the specific situation of the financial indicators,and also compares the enterprises in the industry.Based on the analysis above,the foreground analysis part expatiates on the development problems of Shunfeng Holdings,and puts forward some relevant suggestions.Finally,the development prospects of Shunfeng Holdings were predicted..Chapter 7 summarizes the analysis of the full text.Through this study,we can found,Shunfeng Holdings in China's private express delivery industry in a leading position,in the past few years the rapid development of the same time,there are still many issues,such as high cost,low net profit margins and corporate expansion can not keep up with the pace of development.Faced with fierce competition in the industry,can Shunfeng Holdings successfully solve the existing problems and in the future development of the industry continue to significantly ahead of the industry enterprises,still have some uncertainty.