| Electricity is a key force in economic development and an important pillar of the energy system.Conversely,once the supply of electricity and energy is insufficient,it will seriously affect the pace of economic development and the people's quality of life.Power equipment manufacturing is the crown jewel of the power industry.Both technology and economic value-added are the industry's top level.However,in recent years,the development of the power equipment manufacturing industry has also encountered some ups and downs: the external industry,the macroeconomic downturn,the lack of domestic electricity demand,directly reflected in the rapid devaluation of power equipment prices fell;within the industry,the power energy industry structure optimized upgrades have led to increased competition in the power industry.The Harvard analysis framework,as a comprehensive analysis system,differs from the traditional financial analysis framework,introduces strategic and prospect analysis,and makes a more comprehensive assessment of the current situation of the business and predicts the future.Through the analysis of the Harvard analysis framework,the financial analysis can help enterprises to give full play to their own advantages,better lay the foundation for the formulation of future strategic deployment and development planning,and finally improve the quality of enterprise management.This article takes Dong Fang Electric Corporation as a case to analyze the financial information of Dong Fang Electric Corporation from 2014 to 2016.In the aspect of strategic analysis,through the Porter Five Forces model and SWOT analysis,the competition situation in the power equipment manufacturing industry,as well as the advantages and disadvantages of Dong Fang Electric,opportunities and challenges faced are combed;in accounting analysis,the basic processes of identification,analysis,and evaluation are followed.Analyze the quality of accounting information of Dong Fang Electric;on the financial analysis,combine the horizontal analysis,longitudinal analysis and ratio analysis to study the financial performance of Dong Fang Electric;in the aspect of prospect analysis,comprehensively forecast the development prospect of Dong Fang Electric.Through the analysis of this paper,the following conclusions have been drawn: Dong Fang Electric Company's sales revenue in the past three years is poor,its profitability is weak,sales revenue is declining year by year,and net profit level is not optimistic.Although it is affected by industry fluctuations to a certain extent,it can be found that its internal management deficiencies,such as higher proportion of the three major expenses,low financial leverage,and the existence of a large amount of unused funds,have not been utilized.Various phenomena show that Dong Fang Electric is at a critical moment in the history of the company,and it needs to undergo an independent transformation and upgrading,structural adjustment,accompanied by a gradual increase in investment in the country's power industry and power grid,the company's future operating conditions will improve.This paper applies the Harvard analysis framework to the financial analysis of Dong Fang Electric Corporation and has certain reference significance for the same type of enterprises in power equipment manufacturing industry. |
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