A Study On The Financial Analysis And Evaluation Of China Southern Airlines Based On The Harvard Analysis Framework

In recent years,my country’s aviation industry,especially the civil aviation industry,has continued to grow and develop.The industry-wide operating income in 2019 was 1.06 trillion yuan,an increase of 5.4% over 2018.It can be seen that the civil aviation industry has become a pillar industry of the national economy.Throughout the various airlines in the civil aviation industry,each has different advantages and competition with each other is becoming increasingly fierce.The outbreak of the new crown pneumonia in late 2019 has caused huge losses to the entire civil aviation industry,and many airlines have fallen into financial crisis as a result.Changes in the environment have forced companies to adjust their future development plans.At this critical moment,traditional financial analysis methods that only focus on changes in financial data can no longer meet the needs of corporate decision-makers.The Harvard analysis framework makes up for the shortcomings of traditional financial analysis and effectively combines financial and non-financial factors to make the results of corporate financial analysis more accurate.This article takes China Southern Airlines Co.,Ltd.(hereinafter referred to as China Southern Airlines)as an example,based on China Southern Airlines’ 2015-2019 performance announcement and audit report,using the Harvard analysis framework,from the four dimensions of strategy,accounting,finance,and prospects.A detailed analysis of China Southern Airlines’ operating conditions.First,starting from strategic analysis,after a brief introduction to the company,analyze its macro environment,industry environment,internal advantages and disadvantages,external opportunities and competition;then accounting analysis is the key accounting element in the financial statements To identify,this article mainly analyzes the three elements of accounts receivable,fixed assets and stock;financial analysis is based on the four major financial capabilities to compare the level of enterprises in the same industry horizontally and vertically;prospect analysis focuses on the impact of the entire civil aviation industry Development trend analysis and prospect forecast based on the company’s own situation.After careful analysis of the above four dimensions,China Southern Airlines found the shortcomings in its business process,and put forward targeted development suggestions to provide references for China Southern Airlines’ future development.