| Stock company is the leading force in the market economy,and listed companies is the most typical representative of modern joint-stock company.Listed companies have become an important investment and financing object of economic development.The financial performance of listed companies fundamentally determines the rational allocation of resources and the orderly competition in the market.Therefore,the evaluation of financial performance of listed companies in China is of great significance.China has now become the world's second largest dairy consumer market,and is still growing rapidly.Sanlu milk powder incident,China's dairy industry suffered heavy losses,the entire community's economic development has caused serious negative impact.At present,China's dairy industry is gradually being restored,corporate investors and other stakeholders are very concerned about the financial situation of dairy companies and operating results.Therefore,a simple,fair and scientific method of financial performance evaluation can be used to provide scientific decision-making basis for stakeholders to evaluate the financial performance of dairy enterprises.Based on the past performance evaluation system,this paper tries to evaluate financial performance from all angles and angles according to the actual situation of dairy industry.China's dairy industry is getting stronger rapidly with the development of China's overall economy.And in recent years it has been gradually recovered from the influence of Melamine issue.Bright Dairy and Ylli industrial group are the famous enterprises in China's dairy industry.This paper analyzes the financial statements of the two enterprises from 2011 to 2016,and analyzes the financial capacity and risk level of the two enterprises in combination with industry data.Hoping to provide some reference for investors,and give managers some suggestions.The paper analyzes the status quo and prospects of the dairy industry,and after conducting a brief survey of the major conditions of the two companies,Yili and Guangming Dairy,uses the financial performance theory and the financial strategy matrix theory to compare the financial performance of Yili and Bright Dairy.And research.After comparing basic financial data,several financial performance analysis modules,such as profitability,debt repayment ability,operating ability,cash ability,growth ability,cash creation ability,etc.,were analyzed to compare the financial performance of Yili and Bright Dairy.Yili is superior to the average value of the light and dairy products in all its capabilities.Afterwards,the two dairy companies were further compared in terms of revenue,risk and financial strategy.From the above comparative study,find out the advantages of Yili's leadership and light,and explore the reasons for the gaps.Comprehensive comparison of the data,the Queen of the risk is slightly higher,but the operating and financial ability to highlight the obvious financial performance advantages,can bring greater returns for investors.Finally,on Yili and Bright Dairy financial performance gap,and the reasons are summarized,comments and suggestions and problems of the two companies. |
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