發(fā)布時間：2019-05-12 07:41

【摘要】：如今我國醫(yī)藥衛(wèi)生體制改革進入深水區(qū),市場監(jiān)管不斷升級,醫(yī)藥行業(yè)發(fā)展出現(xiàn)了減速新常態(tài)。面對宏觀環(huán)境的變化,醫(yī)藥企業(yè)需要不斷調整自身盈利模式。與企業(yè)經營要素相匹配的盈利模式能為企業(yè)帶來超額利潤,而盈利模式的實施效果最終可通過公司財務績效反映出來。因此結合企業(yè)盈利模式對其進行財務績效研究,可以幫助企業(yè)發(fā)現(xiàn)經營過程中存在的問題并有針對性地解決,以有效應對行業(yè)變化。華潤三九醫(yī)藥股份有限公司是本文的研究對象,它作為醫(yī)藥行業(yè)的標桿企業(yè),其盈利模式的設計實施及其財務績效都值得研究。本文運用了對比分析法、和案例研究法,通過將華潤三九的財務績效,與同行業(yè)不同盈利模式企業(yè)的財務績效進行比較分析,研究出全產業(yè)鏈模式對華潤三九財務績效的影響,并從優(yōu)化盈利模式出發(fā),提出提高財務績效的建議。本文通過對醫(yī)藥企業(yè)的盈利模式進行分類,概括出現(xiàn)階段醫(yī)藥行業(yè)常見的幾種盈利模式為產品模式、品牌模式和集團全產業(yè)鏈模式。根據華潤三九的盈利模式的構成要素特征,將該公司的盈利模式歸為全產業(yè)鏈模式,具體描述為以產品為核心,通過對藥品研發(fā)、生產、銷售的全面投入,充分利用公司的品牌效應,為企業(yè)和顧客創(chuàng)造價值,從而獲取利潤的盈利模式。為了更好地探究全產業(yè)鏈模式對公司財務績效的影響,選取了分別采用產品模式的和品牌模式的兩家同行,以其財務績效指標與華潤三九作比較。分析發(fā)現(xiàn),相比對比的企業(yè),公司在全產業(yè)鏈模式下的財務績效不突出,這是由于公司進行產業(yè)鏈布局時,在注重延伸產業(yè)鏈長度的同時,忽視了每個環(huán)節(jié)的質量與銜接,具體表現(xiàn)在產業(yè)鏈中游生產的產品缺乏核心競爭力,盈利能力不強;在產業(yè)鏈下游的營銷和品牌建設環(huán)節(jié)投入巨大,導致費用率過高,影響公司利潤;并購后的資源整合不到位,未發(fā)揮并購帶來的協(xié)同效應。針對上述問題,對公司產業(yè)鏈上游的研發(fā)環(huán)節(jié)、產業(yè)鏈下游的營銷環(huán)節(jié),以及并購整合提出建議,以更好地優(yōu)化盈利模式,提高公司財務績效。
[Abstract]:At present, the reform of medical and health system in China has entered the deep water area, the market supervision has been upgraded, and the development of pharmaceutical industry has slowed down. In the face of changes in the macro environment, pharmaceutical enterprises need to constantly adjust their own profit model. The profit model matching with the operating elements of the enterprise can bring over profit to the enterprise, and the implementation effect of the profit model can finally be reflected through the financial performance of the company. Therefore, combined with the profit model of enterprises to study its financial performance, it can help enterprises to find the problems existing in the business process and solve them pertinently, in order to effectively deal with the changes in the industry. China Resources Sanjiu Pharmaceutical Co., Ltd. is the research object of this paper. As a benchmark enterprise in the pharmaceutical industry, the design and implementation of its profit model and its financial performance are worth studying. Using comparative analysis method and case study method, this paper compares the financial performance of China Resources Sanjiu with the financial performance of enterprises with different profit models in the same industry, and studies the impact of the whole industry chain model on the financial performance of China Resources Sanya. From the point of view of optimizing the profit model, this paper puts forward some suggestions to improve the financial performance. By classifying the profit models of pharmaceutical enterprises, this paper summarizes that several common profit models in the pharmaceutical industry are product model, brand model and group whole industrial chain model. According to the characteristics of the constituent elements of the profit model of China Resources Sanjiu, the company's profit model is classified as the whole industry chain model, specifically described as a comprehensive investment in drug research and development, production and sales, taking the product as the core. Make full use of the brand effect of the company to create value for enterprises and customers, so as to obtain profit model. In order to better explore the impact of the whole industry chain model on the financial performance of the company, two peers using the product model and the brand model were selected, and their financial performance indexes were compared with those of China Resources 39. The analysis shows that the financial performance of the company in the whole industrial chain mode is not outstanding compared with the contrast enterprise, which is due to the fact that the company pays attention to extending the length of the industrial chain while neglecting the quality and cohesion of each link while carrying out the layout of the industrial chain. The specific performance is that the products produced in the middle of the industrial chain lack the core competitiveness and the profitability is not strong; The investment in marketing and brand building in the downstream of the industrial chain is huge, which leads to the high cost rate and affects the profit of the company. The resource integration after the merger and acquisition is not in place, and the synergy effect brought about by the merger and acquisition is not brought into play. In view of the above problems, this paper puts forward some suggestions on the R & D link in the upstream of the industrial chain, the marketing link in the downstream of the industrial chain, and the integration of mergers and acquisitions, so as to better optimize the profit model and improve the financial performance of the company.
【學位授予單位】：湘潭大學
【學位級別】：碩士
【學位授予年份】：2017
【分類號】：F426.72;F406.7

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