Based On The Harvard Analytic Framework In The Comprehensive Financial Statement Analysis Of Unigroup Guoxin Co.,Ltd

In recent years,the domestic semiconductor industry is iterating from labor-intensive to technology-and capital-intensive industry through industry transfer and absorption.In 2016,the output value of IC design exceeded IC packaging and testing for the first time,and the domestic market is becoming more and more competitive.In 2017,the operating income of TOP10 domestic IC design enterprises exceededs 2 billion yuan Among them,Unigroup Guoxin ranked 11 th,whose in its operating income.R & D efficiency and the control of operating costs are all practical problems facing enterprises.Using the representative Unigroup Guoxin as the research object,this paper adopts the Harvard Analytic framework.The analysis is conducted in four dimensions: strategic analysis,accounting analysis,financial analysis and prospect analysis.In the dimension of strategic analysis,this paper introduces tools such as Michael Porter five forces model and SWOT analysis method to analyze the industry environment and cooperate strength and to judge the current strategy of enterprise execution.In the dimension of accounting analysis,this paper focuses on identifying strategy-related accounting policies and accounting estimates,and compares horizontally and vertically on a year-to-year basis to judge the quality of accounting information and lay the foundation for financial analysis.In the financial analysis dimension,based on the 2015-2017 financial report data,this paper combinestrend analysis,financial ratio analysis,and comprehensive analysis to judge the company's operating conditions.In the foreground analysis,qualitative predictions are made regarding the future of the semiconductor industry.At the same time,the Z-SCORE model is combined with qualitative prediction to predict the prospects of the enterprise in a quantitative way.The paper summarizes the problems existing in the operation management of Unigroup Guoxin and puts forward suggestions for the future development of the company.In the accounting analysis,the company did not make provision for inventory depreciation.The product industry in the integrated circuit industry was iteratively accelerated.Therefore there was a risk of inventory depreciation.In the financial analysis,although the overall operating income of the company increased by 28% compared with the same period of the previous year,the net profit margin decreased from 23.69% to 15.3%.The fast increase of operating cost increased too fast had an impact on operating profit.The high cash ratio and the increase of opportunity cost of the enterprise reduce the profitability of funds.With the increase of R & D investment,product structure is gradually optimized.Still,product development and conversion efficiency needs to be improved.Moreover,optimization,stereotype time is too long while mass production time is uncertain.As a result,operating income cannot be really created.Some market segments have been slow to develop in recent years.One of these segments is the specialty IC market with strong initial profitability.Therefore,Unigroup Guoxin needs to strengthen strategic cooperation with the Group to improve its control over operating costs,optimize the R&D platform,attract high-quality people to join the R&D team,improve the control over product R&D and market,coordinate the progress of product launch,increase sensitivity to new markets,increase market share and exert more powerful competitive strength.