Financial Statement Analysis Of Zhongtong Bus Holding Co., Ltd Based On Harvard Analytical Framework

Automobile industry is one of the key industries in China.Bus industry,as a sub-industry of automobile industry,has experienced rapid development.At present,China ranks first in the world in the production of large and medium-sized buses.Bus manufacturing technology has achieved leapfrog development.China is also in the leading position in the world in manufacturing of new energy buses.However,facing the decline of new energy bus subsidy policy and the increasingly fierce competition,the development of bus enterprises is facing unprecedented challenges.Zhongtong Bus Holding Co.,Ltd is one of the representative enterprises in bus manufacturing industry.This paper applies Harvard analysis framework to financial statement analysis of Zhongtong Bus Holding Co.,Ltd,and analyses it from four aspects: strategy,accounting,finance and development prospects.It finds out the existing problems and puts forward reasonable suggestions.At the same time,it hopes to provide reference for the development of other bus enterprises.This paper uses literature analysis,case analysis,comparative analysis and other research methods.The main contents of the study are divided into five parts.The first part is the introduction,which introduces the research background and significance,research methods and contents,basic theory and literature review.The second part is the analysis of the current situation of Zhongtong Bus Holding Co.,Ltd,introducing Zhongtong Bus Holding Co.,Ltd and its control company,and analyzing the current situation and problems of Zhongtong Bus Holding Co.,Ltd.The third part is the analysis of financial statements of Zhongtong Bus Holding Co.,Ltd,including strategic analysis,using PEST to analyze the macro-environment of Zhongtong Bus Holding Co.,Ltd,and using SWOT to find out the development path of the company;accounting analysis,including identifying key accounting subjects,and analyzing accounting policies and accounting estimates of key accounting subjects;financial analysis,including three major financial statements analysis and indicators analysis.Indicator analysis is used to evaluate the current financial situation of enterprises,and prospect analysis is used to forecast the future development prospects of Zhongtong Bus Holding Co.,Ltd based on the risks and opportunities it may face.The fourth part introduces the analysis results of financial statements and suggestions for future development.The evaluation results include serious dependence on policy subsidies,inadequate grasp of key technologies,inadequate provision for bad debts and depreciation of fixed assets,tight cash flow,high financial risk,low profitability,inadequate growth capacity,and sharp increase in business risk.In addition,suggestions for future development are put forward,including increasing R&D efforts to improve the ability to resist policy risks;improving the rationality of accounting estimation to enhancing the quality of accounting information;strengthening the management of accounts receivable,formulating reasonable debt repayment plans;strengthening market development,seeking new profit growth points;and strengthening enterprise risk early warning capabilities.The last part summarizes the main contents of this paper,and shows that the Harvard analysis framework is of great significance to the development of other enterprises in the domestic bus industry.