七喜控股公司财务报表分析

1、战略风险险透视七喜喜控股财财务报表表分析Evaluation Warning : The document was created with Spire.Presentation for .NETLIBRRA团队成员员2.3.1.戴轶伟5. 倪志靖4刘识杨晓君任雯雯Evaluation Warning : The document was created with Spire.Presentation for .NET分析角度战略咨询询顾问Evaluation Warning : The document was created with Spire.Presentation for .NET

2、分析问题七喜绝对对不做不不赚钱的的生意，任何投投资都要立竿见见影的，这就是是跟随战略略。易贤忠20033年Evaluation Warning : The document was created with Spire.Presentation for .NETPCLLAAPTOOPPCLLAPPTOPP主营业务务战略PC 台式机代销和配件通讯产品笔记本电脑PC 台式机代销和配件20088年PC台式机代销和配配件通讯产品品笔记本电电脑OEM液晶显示示器跟随战略略Evaluation Warning : The document was created with Spire.Presentati

3、on for .NET分析问题七喜绝对对不做不不赚钱的的生意，任何投投资都要立竿见见影的，这就是是跟随战略略。易贤忠20033年主要特点点:1.等待市场场条件成成熟才进进入2.各项业务务规模小小3.产品结构构不稳定定4.以价格战战为主要要竞争手手段Evaluation Warning : The document was created with Spire.Presentation for .NET分析问题短期表现现长期发展七喜绝对对不做不不赚钱的的生意，任何投投资都要立竿见见影的，这就是是跟随战略略。易贤忠20033年Evaluation Warning : The document wa

4、s created with Spire.Presentation for .NET分析结构构财务分析析盈利透视视战略风险险短期表现现长期发展展Evaluation Warning : The document was created with Spire.Presentation for .NET财务分析析现金流量量分析主成份分分析比率分析析Evaluation Warning : The document was created with Spire.Presentation for .NET现金流量量分析04，05年现金流流量为负负值，增加风险险Evaluation Warning :

5、The document was created with Spire.Presentation for .NET现金流分分析经营活动动产生的的现金流流量投资活动动产生的的现金流流量-48,9400,0668.668-1077,3995,7712.80在建工程程49333万筹资活动动产生的的现金流流量73,9914,1244.422存货与应应收帐款款大幅增增加短期借款款1.166亿Evaluation Warning : The document was created with Spire.Presentation for .NET主成份分分析综合盈利能力股本扩张能力主营业务 增长速度资产使

6、用效率 及增长速度销售和利润增长速度综合经营业绩得 分排名得 分排名得 分排名得 分排名得 分排名得 分排名SH600850G 华电脑-4.236 6-1.11860.303 4-0.5545-1.4935-4.133 6SZ000997G 新大陆0.399 3-0.6724-0.342 5-1.246-0.741 3-0.877 4SZ000066长城电脑3.673 10.78020.425 30.763 23.103 13.643 1SH600185G 海 星-1.2464-0.89453.500 1-0.543 4-0.188 4-0.5423SZ000977G 浪 潮-1.4251.3

7、461-4.591 60.326 3-3.308 6-0.965 5SZ002027七喜控股2.827 20.54930.706 21.246 12.58522.981 2Evaluation Warning : The document was created with Spire.Presentation for .NET比率分析盈利能力力分析经营能力力分析成长能力力分析偿债能力力分析Evaluation Warning : The document was created with Spire.Presentation for .NET偿债能力力分析05年短期借借款增加加存货占流流动资产

8、产太多Evaluation Warning : The document was created with Spire.Presentation for .NET经营能力力分析放松信贷贷政策05年存货大大幅增加加Evaluation Warning : The document was created with Spire.Presentation for .NET成长能力力分析指标波动动明显Evaluation Warning : The document was created with Spire.Presentation for .NET盈利能力力分析盈利能力力较高Evaluation

9、 Warning : The document was created with Spire.Presentation for .NET盈利能力力分析盈利能力力?!Evaluation Warning : The document was created with Spire.Presentation for .NET盈利能力力分析主营成本本高期间费用用低Evaluation Warning : The document was created with Spire.Presentation for .NET分析结构构财务分析析盈利透视视战略风险险短期表现现长期发展展短期经营营较好盈利质量量怀

10、疑Evaluation Warning : The document was created with Spire.Presentation for .NET费用透视视管理费用应收帐款坏帐准备存货跌价准备固定资产折旧计提比例例都远低低于行业业水平三项资产产合计占占总资产产68.446%Evaluation Warning : The document was created with Spire.Presentation for .NET应收帐款款坏帐准准备七喜控股 坏帐准备 计提比例长城电脑坏帐准备计提比例方正科技坏帐准备计提比例根据行业水平调整以后的坏帐计提比例1年以内2%10%5%5%1

11、2年10%20%20%15%23年50%50%30%50%3年上100%100%100%100%应收帐款款高估7,7445,3332.93，占到净净利润总总额的9.444Evaluation Warning : The document was created with Spire.Presentation for .NET存货周转转率比较较05年有大幅幅下降,同时低与与同行水水平对存货的的减值准准备计提提比例又又低于同同行Evaluation Warning : The document was created with Spire.Presentation for .NET存货跌价价准备长

12、城电脑方正科技七喜控股调整后原材料跌价准备计提比例9%8%1.16%8%产成品跌价准备计提比例20%10%0.1%10%存货总额214,809,579521,811,558488,260,231存货高估估更是高高达35,6619,7977.100,占到净利利润总额额的43.442Evaluation Warning : The document was created with Spire.Presentation for .NET固定资产产折旧固定资产原值方正科技 长城电脑 七喜调整后机器设备折旧年限5-10年 5-8年 10年 8年年折旧率9.5%-19% 11.88%-19% 9.5%

13、11.88%固定资产产高估达达1,0004,0024.11,占到净利利润总额额的1.222Evaluation Warning : The document was created with Spire.Presentation for .NET净利润调调整 原减值准备 调整后减值准备 少提数 占净利润百分比 存 货 5,371,159.72 40,990,956.82 35,619,797.10 43.42% 应收帐款 7,800,481.72 15,545,814.65 7,745,332.93 9.44% 固定资产 机器设备 4,670,923.39 5,674,947.50 1,004

14、,024.11 1.22% 合计 17,842,564.83 62,211,718.97 44,369,154.14 54.08%Evaluation Warning : The document was created with Spire.Presentation for .NET分析结构构财务分析析盈利透视视战略风险险短期盈利利长期盈利利短期经营营较好盈利质量量怀疑费用计提提不够谨谨慎利润质量量不高Evaluation Warning : The document was created with Spire.Presentation for .NET战略风险险战略风险险预警战略深入入透

15、视战略远景景展望Evaluation Warning : The document was created with Spire.Presentation for .NET战略风险险预警费用计提提不谨慎慎利润质量量不高收入价格格接受者者成本缺乏乏规模效效应各项业务务规模小小产品结构构不稳定定等待市场场条件成成熟才进进入以价格战战为主要要竞争手手段 盈利透视视主要特点点Evaluation Warning : The document was created with Spire.Presentation for .NET战略风险险预警随着企业业规模的的日渐扩扩大，跟随战略略的风险险也日益益加大

16、。Evaluation Warning : The document was created with Spire.Presentation for .NET战略深入入透视利润收入成本、费费用品牌牌科研研Evaluation Warning : The document was created with Spire.Presentation for .NET成本透视视主营业务成本人 工材料费制造费用高于行业平均高于行业平均差异不大采购量小小，对于于上游厂厂商的议价价能力有有限单位产品品费用分摊较高高缺乏规模模效应Evaluation Warning : The document was cre

17、ated with Spire.Presentation for .NET战略深入入透视利润收入成本、费费用品牌牌科研研扩大规模模Evaluation Warning : The document was created with Spire.Presentation for .NETOEM远景展望望行业内竞竞争对手手上游供应应商新进入者者下游进销销商替代品Evaluation Warning : The document was created with Spire.Presentation for .NET分析结构构财务分析析盈利透视视战略风险险短期盈利利长期盈利利短期经营营较好盈利质量量怀疑稳定业务务结构扩大市场场规模费用计提提不够谨谨慎利润质量量不高Evaluation Warn