Financial Analysis Of Yangquan Coal Industry Based On Harvard Analysis Framework

As the most important basic energy and industrial raw materials in China,coal has provided a strong impetus for the sustained and rapid development of China's social economy.Since the eighteen Party Congress,General Secretary Xi Jinping has creatively put forward the"energy revolution" series of ideas,actively promoting energy consumption,energy supply,energy technology and energy system reform,to ensure national energy security.In 2018,China's macroeconomic development slowed down.In the context of economic transformation and upgrading,energy structure adjustment,and rapid development of new energy and renewable energy,the demand for coal fell and the growth slowed down.There are many problems to be solved in coal enterprises,especially in the transformation and upgrading of industrial structure and financial aspects.As a new financial analysis method,Harvard analysis framework can provide more scientific and effective help for enterprises to make decisions from the strategic level,accounting level,financial level and prospect level.This paper takes Yangquan Coal Industry(Group)Co.,Ltd.as the research object,based on the Harvard analysis framework,analyzes the financial data and non-financial information of Yangquan Coal Industry in 2014-2018,and puts forward development suggestions.This paper is divided into eight chapters.The first two chapters are the introduction,basic concepts and theoretical basis.It mainly describes the research background,purpose and significance,research status at home and abroad,and the concepts related to Harvard analytical framework.The third chapter briefly introduces Yangquan coal industry,and explains the feasibility and necessity of financial analysis of Yangquan Coal Industry Based on Harvard analysis framework.Chapter four to chapter seven are the main parts of the case analysis,which are strategy analysis,accounting analysis,financial analysis and prospect analysis.The strategic analysis part starts from the macro environment and industrial environment of the coal industry,analyzes the development strategy of Yangquan coal industry,and points out the profit driving factors of the company;the accounting analysis part analyzes whether the information of the key accounting subjects of the enterprise reflects the objective facts truthfully and fairly,which lays the foundation for the financial analysis;the financial analysis part analyzes the debt paying ability,operation ability and profit of the enterprise The ability and cash flow are analyzed horizontally and vertically;the prospect analysis part forecasts the development prospect of coal industry from the perspectives of coal supply and demand,coal price,new energy development,and forecasts the future development prospect of Yangquan coal industry.The eighth chapter summarizes the research of this paper,and puts forward feasible suggestions for the problems found.Through the research,it is found that the overall financial situation of Yangquan coal industry is better,but there are also objective problems such as fierce competition in the same industry,increased threat of substitutes,strong bargaining power of buyers,slowing growth of coal demand,etc.,facing financial risks such as lower gross profit rate of coal products,low recovery rate of accounts receivable,high asset liability ratio,low turnover rate of fixed assets,and weak short-term solvency.Therefore,it is suggested that Yangquan coal industry should pay attention to cost management,increase gross profit rate of coal products,take integrated and diversified development strategy,optimize industrial structure,pay attention to scientific and technological innovation,speed up intelligent construction of coal mines,reduce liabilities,change financing mode,enhance short-term debt paying ability,improve the quality of accounts receivable,reduce bad debts,and promote recovery,and improve the turnover rate of fixed assets.