Research On Financial Performance Evaluation Of Listed Companies In Coal Industry Based On EVA ——Taking Jinkongcoal Industry As An Example

As a big energy consumer,China’s consumption of coal resources ranks first in the country.With the adjustment of China’s energy consumption structure and the promotion of energy conservation and emission reduction,the demand for clean energy continues to increase and the proportion of consumption of coal resources continues to decline.However,it is worth noting that wind,electricity and other energy resources have high dressing probability and high rates of power and wind abandonment,and their absorptive capacity needs to be improved.On the contrary,coal resources,in China’s energy consumption,are still in an important position.According to the data of the National Bureau of Statistics,the proportion of consumption of coal resources reaches 56%,and this proportion of consumption structure will not change in the short term.Up to September 2021,the revenue of the coal industry reached 2,131.1 billion yuan,up 44.6% year-on-year;Profit reached409.4 billion yuan,up 172.2% year-on-year.All these data indicate that coal resources are showing a good development trend.Therefore,in order to strengthen the management of coal resources,it is necessary to pay attention to the evaluation of financial performance of listed companies in the coal industry.In this paper,the financial performance evaluation of large-scale state-owned enterprise Jinchuan Coal Industry is selected as the research object.The financial performance evaluation system is constructed based on the characteristics of the coal industry.From the perspective of EVA,the operating profit of the company is adjusted,focusing on the analysis of the four dimensions of the company’s profit,operation,debt repayment and growth and development.The weight of the four dimensions is determined by using the analytic hierarchy process,and the relative importance and respective proportion of the four dimensions are determined.Finally,the efficiency coefficient method is used to score individual indicators with reference to the standard coefficient values of the coal industry,and the performance score for the year is obtained by summing up and the rating is performed.Starting from the financial data of 2018-2020,the financial performance score is calculated and sorted out by using the determined weights,and the performance is evaluated in a completely quantitative manner.Finally,in order to ensure the smooth implementation of the evaluation system,the corresponding measures are put forward,mainly from the perspective of improving the budget system,strengthening the specific practical operation,improving the incentive mechanism,etc.,to do a good job in the follow-up security work.In this paper,the EVA evaluation method is introduced,and the financial performance evaluation system of listed companies in the coal industry is constructed in combination with the operation and development of the coal industry.The construction of this system not only provides new ideas and methods for financial performance evaluation,but also provides reference for other companies in the coal industry to conduct financial performance evaluation.