本文關(guān)鍵詞：新能源發(fā)電企業(yè)A公司盈利能力分析與提升研究　出處：《北京交通大學(xué)》2017年碩士論文　論文類型：學(xué)位論文

  更多相關(guān)文章： 盈利能力 電價(jià) 成本費(fèi)用 融資方式 限電

【摘要】：電力已成為能源發(fā)展的中心、國(guó)民經(jīng)濟(jì)和人民正常生活的必需品,解決人類未來(lái)的能源問(wèn)題將依賴于新能源電力。在全面深化改革和經(jīng)濟(jì)新常態(tài)的背景下,中國(guó)電力行業(yè)正在發(fā)生革命性轉(zhuǎn)變,"十三五"推進(jìn)電力供給側(cè)結(jié)構(gòu)性改革,關(guān)鍵是要有效控制火電建設(shè)規(guī)模,優(yōu)化增量結(jié)構(gòu),火電"急剎"已成為必然。與火電命運(yùn)截然不同的是,面對(duì)國(guó)家對(duì)新能源電力企業(yè)的大力支持,積極的政策為新能源建設(shè)提供了契機(jī)。近幾年來(lái),風(fēng)電和光伏發(fā)電在個(gè)別省市地區(qū)出現(xiàn)了比較嚴(yán)重的棄風(fēng)棄光現(xiàn)象,如果新能源企業(yè)繼續(xù)保持裝機(jī)容量的飛速擴(kuò)張,可持續(xù)發(fā)展能力必定會(huì)下降。因此,本文以新能源電力企業(yè)A公司為例,研究的核心問(wèn)題是:新能源電力企業(yè)盈利能力下降的原因?如何提升公司的盈利能力?本文首先首先參考了國(guó)內(nèi)外相關(guān)文獻(xiàn),在杜邦分析體系的基礎(chǔ)上,增加了現(xiàn)金流量和企業(yè)可持續(xù)增長(zhǎng)對(duì)盈利能力的影響,構(gòu)建了盈利能力分析體系,指出其盈利能力的三個(gè)核心要素,即盈利性、獲現(xiàn)性、成長(zhǎng)性。其次對(duì)新能源發(fā)電行業(yè)發(fā)展現(xiàn)狀進(jìn)行簡(jiǎn)要分析,為下文深入研究A公司的盈利能力作鋪墊。通過(guò)構(gòu)建的盈利能力分析體系,以A公司的實(shí)際數(shù)據(jù)為基礎(chǔ),運(yùn)用科學(xué)的分析方法從三個(gè)維度進(jìn)行具體指標(biāo)計(jì)算和指標(biāo)對(duì)比,發(fā)現(xiàn)影響盈利能力的影響因素:外部因素為市場(chǎng)過(guò)熱導(dǎo)致資產(chǎn)規(guī)模擴(kuò)張,規(guī)模增加導(dǎo)致棄風(fēng)棄光現(xiàn)象,使得發(fā)電量下降,加上標(biāo)桿電價(jià)逐步下調(diào),限電產(chǎn)生交易低電價(jià),導(dǎo)致收入和利潤(rùn)的降低,大量的應(yīng)收電費(fèi)補(bǔ)貼使得資金流動(dòng)性降低,盈利能力下降;內(nèi)部因素為預(yù)算管理薄弱、期間費(fèi)用增加過(guò)快,高額的財(cái)務(wù)費(fèi)用制約公司融資能力,最終導(dǎo)致公司的盈利能力出現(xiàn)下滑。最后,針對(duì)上述影響因素,本文提出了公司發(fā)展戰(zhàn)略和內(nèi)部經(jīng)營(yíng)管理兩個(gè)方面的建議。第一,優(yōu)化公司未來(lái)發(fā)展戰(zhàn)略包括改變投資方向,擴(kuò)大盈利渠道;優(yōu)化資源配置,降低限電率;加強(qiáng)電力營(yíng)銷,擴(kuò)大收入水平。第二,強(qiáng)化公司內(nèi)部經(jīng)營(yíng)管理包括有效控制成本費(fèi)用;合理選擇發(fā)電設(shè)備,降低故障率,增加發(fā)電量;加強(qiáng)應(yīng)收賬款的回收管理,增加現(xiàn)金流動(dòng)性;優(yōu)化融資方式,降低財(cái)務(wù)費(fèi)用。
[Abstract]:Electric power has become the center of energy development, the necessities of the national economy and people's normal life, to solve the energy problem of the future of mankind will depend on the new energy power. In the comprehensive deepening of reform and economic new normal under the background of China power industry is undergoing a revolutionary change, "13th Five-Year" to promote the power supply side structural reform, the key is to effectively control of thermal power plant construction scale, optimize the structure of power increment, "emergency brake" has become inevitable. With the power of fate is different, in the face of state support for new energy power enterprises, provided an opportunity for positive policy for the construction of new energy. In recent years, wind power and photovoltaic power generation has abandoned abandoned light wind the more serious phenomenon in the individual provinces and regions, if new energy enterprises continue to maintain rapid expansion of installed capacity, the ability of sustainable development will decrease. Therefore, based on the new energy power enterprises A company as an example, the key issue of the study is: the decline in the profitability of new energy power enterprises? How to enhance the company's profitability? Firstly, the first reference to the related literature at home and abroad in the DuPont analysis system based on the increase of cash flow and enterprise sustainable growth impact on the profitability of the construction of the profitability analysis system, points out the three core elements, namely the profitability of its profitability, cash, growth. Secondly, a brief analysis of the current situation of the development of new energy industries, which paves the way for the following research of A company's profitability. By constructing the profitability analysis system, based on the actual data of A company based on the use of scientific methods of analysis and comparison of the calculated index of specific indicators from three dimensions, finding the influence factors of profitability: external factors for market expansion caused by thermal assets Zhang, the scale of increase in abandoned abandoned wind light phenomenon, making the power generation capacity decreased, and the benchmark price gradually reduced, limiting transactions with low price, which leads to the decrease of income and profits, a large number of accounts receivable liquidity makes electricity subsidies reduced, the decline in profitability; internal factors for budget management is weak, the increase in expenses too quickly. High financial costs restrict the company's financing capacity, resulting in the company's profitability declined. Finally, according to the above factors, this paper puts forward some suggestions on two aspects of the company's development strategy and internal management. First, the future development strategy includes changing the direction of investment optimization company, expand the profitable channels; optimize the allocation of resources, reduce power rate; strengthen power marketing, expand the level of income. Second, strengthen the company's internal management including the effective cost control; reasonable choice of power generation equipment, reduce the failure rate, Increase the power generation capacity; strengthen the recovery management of accounts receivable, increase the liquidity of cash, optimize the financing way, and reduce the financial cost.

【學(xué)位授予單位】：北京交通大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2017
【分類號(hào)】：F406.7;F426.61

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