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1、Financial Statement Analysis of SICHUAN CHANGHONG ELECTRIC CO., LTDFinancial Statement Analysis of SICHUAN CHANGHONG ELECTRIC CO., LTD【Abstract】A financial tsunami which had never been so violent over the past 100 years is confusing the whole world in 2008.Viewing from its nature,this financial stor
2、m was caused by the subprime crisis crisis.And the innovation of those financial derivatives just aggravates this subprime crisis, transforming the regional crisis of American sub-loan into a severe global economic storm.The subprime crisis can also be regarded as a break-down of the bubble economy,
3、which is overspreading to the high-level credit market. Subprime mortgage loans and high-level housing loans are based on the same asset-backed real estate.【Key word】financial storm whole world sub-loan bubble economy- i -ContentsIntroduction11、Macroeconomic Situation22、Microcosmic Environment42.1 A
4、ggregative Circumstance42.2 Market Environment43、Company Situation64.1 Compute the Ratios74.1.1 Liquidity Ratio74.1.2 Asset Management Ratio74.1.3 Profitability Ratio84.1.4 Ratio Comparison84.2 Company Financial Strength94.2.1 Growth Ability104.2.2 Profitability104.2.3 The Vitality of Enterprises114
5、.2.4 Enterprises Management Mechanisms114.3 SWOT & Strategy124.3.1 Analysis of SWOT124.3.2 Strategy135、Conclusion156、Reference167、Appendix17Appendix 1 Assets Statement of CHANGHONG17Appendix 2 Assets Statement of KONKA A18Appendix 3 Balance sheet and Income statement19- ii -IntroductionIncorporated
6、in 1958, CHANGHONG has grown into a rule maker and a content & service provider at home and abroad, not a simple household appliance manufacturer. CHANGHONG engage in industries as digital TV, AC, refrigerator, IT, healthy communication, digital Audio-Visual, digital network, electrical power source
7、, commercial electronics and petty appliance, etc. CHANGHONGs sales in 2005 had hit RMB17.6 billion sales, as well as 29.4 percent amplitude compared with the same period last year. At the same time CHANGHONGs brand valued RMB39.861 billion which is honorably enrolled into the Worlds 500 Most Influe
8、ntial Brands. CHANGHONG belongs to Household electrical appliances manufacturing. In 1994, CHANGHONG stocks listed in Shanghai stock exchange. In 2005, the brand value of CHANGHONG reaching to 398.61 billion yuan to be the most valuable brands of China. So far, CHANGHONGs digital products have beeni
9、ng exported to more than 90 countries and regions. Because of the world financial crisis interests the hold industry is seriously damaged. To have certain knowledge of CHANGHONGs true financial position, I will give you the analysis of CHANGHONGs financial statement below. And I shall limit myself t
10、o three aspects of the subject: Liquidity ratio, Asset management ratio and Profitability ratio. To find out why the order reduction recently? and Why profitability seriously reduced? As we know, a ratio is an expression of the relationship of one item to another.A ratio can be expressed as a percen
11、t, rate, or proportion. Ratios are particularly important in understanding financial statements because they permit us to compare information from one financial statement with information from anothere financial statement. For a ratio to be useful, however, the two amounts beiing compared must be lo
12、gically related.1、 Macroeconomic Situation Affected by financial crisis, the United States, Europe, Japan and other developed countries come into recession, the consumer demand reducing and industry export under high pressure. Whats more the domestic market of real estate is sustained decline and th
13、e natural disasters to residents being adversely affect the demand of home appliance. At the same time domestic economic growth is slowing and the diclining of resident expected income is the factors restrain the consumption of electrical appliances productsuch.From the international, since enterred
14、 September 2008, the U.S. financial markets crisis has never gone. As lehman Brothers Holding Company went bankrupt, Bank of America pruchased Merrill Lynch, AIG Gorporate came to a crisis, all these consumingly shock the U.S. financial markets and drawn-out us subprime mortgage crisis into serious
15、century-old financial crisis. Because of the financial crisis is still in sustainable development, the financial markets in the twinkling of an eye, crisis will stop where and where to? Great uncertainty surrounds global. Also, the crisis of the influence and effect is still uncertain. Based on the
16、financial crisis of by fears of transition to the economic crisis, the global government succession or joint adopted a series of measures to strengthen the financial institutions to support and financial market.Over the financial institutions and through large injection currency monetary policy, also involves some
