| From the emergence of steam locomotives to the current self-driving cars,the development of the automobile industry has been rapid.In order to promote China from a big automobile country to a powerful automobile power,the New Energy Vehicle Industry Development Plan(2021-2035)clearly states that new energy vehicles are the inevitable trend of the future development of China’s automobile industry.In addition,along with the comprehensive opening of automobile joint venture share ratio and the dynamic changes in the external environment of automobile enterprises,the core technology,talent reserve and brand recognition of domestic automobile enterprises are difficult to continue to compete with the fierce market competition.Therefore,the automobile industry must face the adjustment and upgrading of industrial structure,which is both a challenge and an opportunity for the self-owned brand automobile enterprises.As a relatively leading self-owned brand in China,China Changan Automobile Group is faced with many difficulties in its transformation,such as insufficient research and development,declining profitability and so on.Applying Harvard Analytical Framework to this field and studying Changan Automobile’s growth ability will be of great significance to help it formulate effective development strategies and improve product competitiveness.Harvard Analytical Framework starts from the strategy of the enterprise,according to the macro environment and industrial environment of the enterprise,utilizes the financial and non-financial information to make a comprehensive and systematic analysis of the enterprise.Then,a clear conclusion is drawn.Therefore,in order to reduce the subjective influence of index selection in the traditional growth analysis,the Harvard framework is used in this paper to objectively evaluate the growth of Changan Automobile.In the strategic analysis,first of all,PEST analysis method is used to explore the development trend of the whole automobile industry from a macro perspective.Secondly,using Porter’s Five Forces Model,this paper discusses the competition situation that Changan Automobile Group faces in this industry.Finally,SWOT analysis is used to comprehensively consider the internal conditions and external environment of Changan Automobile to provide the main direction of its future strategic choices.In the accounting analysis,focus on the analysis of its the asset project accounting information quality in financial reports and profit quality.In the financial analysis,ratio analysis and comparative analysis were used,and compares the similar automobile enterprises to analyze the debt paying ability,profitability,operation ability,development ability and cash flow of Changan Automobile respectively,so as to have an in-depth understanding of its financial situation.In the prospect analysis,this paper analyzes the market situation of the automobile industry,and makes a reasonable prediction of its future development trend according to the financial situation and financial risk of Changan Automobile,predicts its future financial change trend by using Exponential Smoothing,and establishes the risk warning by using the F-Score Model.And have a clear understanding of the risk level of the company.After mastering the actual situation of the growth of the company,the weakening causes of the growth of Changan Automobile Group are analyzed,including: less proportion of R&D investment,excessive reliance on investment and less leverage.In view of these causes,Changan Automobile should consider appropriately increasing research and development efforts,strengthening marketing management,and further optimize the financing structure of the enterprise,in order to improve the growth ability of the enterprise,and promote the healthy and sustainable development of Changan Automobile Group and other similar automobile enterprises. |
