The Research On Financial Performance Analysis And Improvement Strategy Of COOEC

Oil is a strategic resource indispensable for the survival and development of a country.Faced with the continuous consumption of terrestrial oil and gas resources,countries around the world have begun to focus on the exploration and utilization of offshore oil and gas resources.Offshore oil development has become an important frontier position of the petroleum industry.Offshore Oil Engineering Co.,Ltd.(referred to as "COOEC")is a leader in the domestic offshore oil and gas engineering industry,and its development strategy is to become an international first-class energy engineering company.This paper analyzes and evaluates the financial performance of COOEC in recent years,identifies the company's advantages and existing problems,and proposes strategies for improving financial performance in order to effectively serve the company's strategic goals.This article introduces the current status of the industry and the development strategy of COOEC,and clarifies the competitive advantages of COOEC.Based on the company's 2014-2018 financial statements,the company's financial performance was analyzed from the aspects of solvency,operating capacity and profitability.Using Du Pont analysis and economic value added(EVA)evaluation methods,the key factors affecting the company's financial performance were further explored.In recent years,COOEC's profitability has continued to decline,asset utilization efficiency is low,and cash flow from operating activities has decreased sharply,making it difficult to achieve corporate value-added.On the other hand,the company's debt ratio is low,and it still holds sufficient cash and cash equivalents,and the company still shows strong solvency.Based on the results of financial performance analysis and the actual situation of the company,this article discusses the reasons for the decline in the company's financial performance in terms of a single main business,weak overseas project operating capabilities,low capital utilization efficiency,and backward corporate management.Finally,it is suggested that COOEC should change its operation mode in time,continuously strengthen risk management,optimize capital structure,and at the same time do a good job of cost control and management to improve profitability.