| Information and communication technologies(ICT)is one of the strongest driving forces for social development in the 21 st century,and will soon become an important driving force for world economic growth.As the innovation,application,and pervasion of ICT technology continue,the ICT industry has not only become the core strength of the scientific and technological innovation but also become an important force to promote the economic growth.HW technologies Co.(hereinafter referred to as HW)has been committed to the development of pioneering core technology in recent years.Its main products are about the communication network system,including the switched network,transmission network,radio and wired fixed access network,data communication network and wireless terminals.HW provides hardware devices,software,services and solutions to communication operators and professional network owners all around the world.Comparing to ordinary enterprises,high-tech enterprises are more likely to face more uncertainties,where risks and opportunities coexist.For investors,administrators and other stakeholders,it is an inevitable choice to analyze the historical operation track to know about the company.Since the financial statements are most reliable to reflect an enterprise's historical production and operating activities,a comprehensive analysis of the financial statements is an essential way to understand a company in depth.Through the analysis of financial statements,we can detect risks in advance,identify opportunities,enhance market operation abilities,and ultimately improve decisions.There are many defects in the traditional financial statement analysis,such as simply relying on financial data but neglecting to analyze the business environment and strategy;the subjectivity of accounting policy choice is likely to increase the possibility that financial statements provide false information,etc.As a new framework of financial analysis,the Harvard analytical framework overcomes the drawback of traditional financial statement analysis that it relies too much on financial data but ignores non-financial information.This paper uses the basic principles of Harvard analysis framework and performs qualitative and quantitative analysis of HW in four aspects,including development strategy,accounting statement,financial data,and development prospect.Taking strategic analysis as a logical starting point,this paper uses the SWOT tool to analyze the external environment and internal constraints faced by the company and clearly explains the strategic choices of HW.This paper selects the financial statements of HW from 2012 to 2016 to perform accounting analysis and reveals the internal logical relationship of the three main accounting statements.This paper applies comparative analysis to three competitors in the industry by using the ratio analysis method to analyze their financial status in three aspects: profitability,operational capability,and solvency.Finally,the paper analyzes the prospect of HW from two aspects,which are enterprise development ability and value evaluation.The analysis shows that,compared to domestic rivals,the market share of HW has been significantly expanding in the past five years,and HW has shown a distinct competitive advantage in no matter assets,income,profit or shareholders' equity.Additionally,HW also has gained considerable power in the international market.In the next few years,HW will consolidate its domestic advantage and actively exploit the international market.After analysis,find out the changes and trends of the key financial ratios in recent years to dig out the problem during development of the company.Then give some suggestions and advice to help the company improve its management and promote the development. |
PDF Full Text Request