本文關(guān)鍵詞：華能集團資產(chǎn)運營績效及戰(zhàn)略選擇研究　出處：《西北農(nóng)林科技大學(xué)》2014年碩士論文　論文類型：學(xué)位論文

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【摘要】：電力產(chǎn)業(yè)是國民經(jīng)濟的基礎(chǔ)性和戰(zhàn)略性的產(chǎn)業(yè)。隨著新能源、環(huán)保等由概念轉(zhuǎn)換成技術(shù)應(yīng)用，我們的生活方式將繼續(xù)發(fā)生深刻的變化。然而，受到技術(shù)水平限制，新能源技術(shù)雖然迅猛發(fā)展，還沒有新的方式可以提到電力在社會生活各方面取代傳統(tǒng)電力資源的動力作用，電力資源在將來很長一段時間內(nèi)仍然是全球范圍內(nèi)主要動力來源。電力企業(yè)是電力產(chǎn)業(yè)的最基本的組成單位。華能集團作為五大國有大型發(fā)電企業(yè)之一，2002年，通過現(xiàn)代化的公司制度改革，華能集團具有計劃經(jīng)濟體制下所固有的國有企業(yè)的時代烙印，，又具有現(xiàn)代股份制下所有權(quán)和經(jīng)營權(quán)分離的鮮明特征。 在公司資產(chǎn)運營過程中，華能集團資產(chǎn)周轉(zhuǎn)情況良好，存貨變現(xiàn)能力和存貨資金周轉(zhuǎn)水平雖有所降低，但仍由于全行業(yè)平均水平。公司應(yīng)收賬款周轉(zhuǎn)比率雖有所下降，但仍優(yōu)于行業(yè)平均水平，公司具有較高的應(yīng)收賬款變現(xiàn)能力和應(yīng)收賬款管理水平。近年來，華能通過原材料集中采購以控制生產(chǎn)成本，同時，由于國家對電力資源價格進行市場化調(diào)整，資本收益率、資產(chǎn)利潤率和營業(yè)利潤率等相關(guān)財務(wù)指標(biāo)數(shù)值不斷改善，華能扭虧為盈，整體盈利能力不斷提升。公司具有較強的短期償債能力,公司利息保障倍數(shù)雖在安全水平之上，但數(shù)值逐年下降，這說明公司的利息支付能力和長期償債能力逐年下降。公司應(yīng)主動調(diào)整，維持其長期償債能力，以促進企業(yè)更好地發(fā)展。華能集團凈利潤逐年增加，但營業(yè)利潤增長情況并不穩(wěn)定。這些都說明了華能集團未來成長能力比較弱，亟需對產(chǎn)業(yè)進行調(diào)整升級，以提高其盈利能力、經(jīng)營效率和企業(yè)未來發(fā)展能力。 本文共分為六部分部分，各部分主要研究內(nèi)容如下： （1）緒論。本文在第一部分對本研究的研究背景及意義、研究內(nèi)容、研究方法、可能創(chuàng)新之處進行了分析，同時，又對相關(guān)文獻進行了梳理。 （2）我國電力產(chǎn)業(yè)概況及華能集團概況。文章對中國電力產(chǎn)業(yè)的發(fā)展?fàn)顩r和華能集團進行了分析。其中中國電力產(chǎn)業(yè)分析包括我國電力產(chǎn)業(yè)發(fā)展歷程、電力資源消費情況、供給情況、五大國有發(fā)電集團概況和存在問題。華能集團分析包括公司簡介和主營業(yè)務(wù)經(jīng)營狀況。 （3）華能集團資產(chǎn)運營績效分析。文章以華能集團2010年-2012年公司財務(wù)報表為基礎(chǔ)，分別分析了公司的資產(chǎn)負(fù)債表、現(xiàn)金流量表和利潤表。并在這三大報表的基礎(chǔ)上，對公司的營運能力、盈利能力、償債能力和發(fā)展能力進行了分析。第五部分，文章在對華能集團財務(wù)分析的基礎(chǔ)上，又對華能集團自身狀況和外部競爭環(huán)境進行了SWOT分析。 （4）華能集團資產(chǎn)運營戰(zhàn)略選擇。在對華能集團資產(chǎn)運營績效分析的基礎(chǔ)上，因地制宜的制定了公司的財務(wù)投資戰(zhàn)略、融資戰(zhàn)略和成本控制戰(zhàn)略。 （5）結(jié)論及政策建議。文章對前面內(nèi)容進行了總結(jié)，并在此基礎(chǔ)上對華能集團提出了加強企業(yè)財務(wù)風(fēng)險控制、提高財務(wù)人員綜合素質(zhì)和進行財務(wù)信息化改革等相關(guān)建議。
[Abstract]:The electric power industry is the basic and strategic industry of the national economy. With the new energy, environmental protection and other concept into technical application, our way of life will continue to undergo profound changes. However, the limit of technical level, although the rapid development of new energy technologies, there is no new way to replace the traditional electric power force mentioned resources in all aspects of social life, power resources in the future for a long period of time is still the main source of power in the global scope. The electric power enterprise is the basic unit of the electric power industry. Huaneng Group as one of the five large state-owned power generation enterprises in 2002, through the reform of company system modernization, Huaneng Group has planned economy under the system inherent in the state-owned enterprise brand of the times, but also has a distinctive feature of the separation of ownership and management rights in modern stock system.
In the process of asset management company, Huaneng Group assets turnover, stock liquidity and stock liquidity level is reduced somewhat, but still due to the industry average. The company accounts receivable turnover ratio has decreased, but still better than the industry average, the company has high accounts receivable and accounts receivable liquidity management level. In recent years, Huaneng centralized procurement of raw materials through to control the production cost, at the same time, due to the state of the market to adjust the price of power resources, the rate of return on capital, and continuously improve the assets and profits rate value related financial indicators such as business profit rate, Huaneng turnaround, and constantly improve the overall profitability of the company has short term. Solvency is stronger, although the company interest coverage at a safe level, but the value decreased year by year, this shows that the company's interest payments and long-term solvency Decreased year by year. The company should take the initiative to adjust and maintain its long-term solvency, to promote the development of enterprises better. Huaneng Group net profit increased year by year, but the operating profit growth is not stable. All these show that the Huaneng Group future growth ability is weak, need to adjust the industrial upgrading, in order to improve its profitability, future development ability the operating efficiency and enterprise.
This article is divided into six parts, the main contents of each part are as follows:
(1) introduction. In the first part, the research background and significance, research contents, research methods and possible innovations are analyzed. Meanwhile, relevant literature is also sorted out.
(2) overview of China's electric power industry and the development status of the Huaneng Group. Chinese power industry and Huaneng Group is analyzed. The Chinese power industry analysis including the development process of China's electric power industry, power supply, resource consumption, situation and problems of the five major state-owned power generation group. Huaneng Group including analysis of the company the introduction and the main business situation.
(3) analysis of Huaneng Group assets operating performance. On the basis of Huaneng Group in 2010 -2012 the company's financial statements, analyzes the company's balance sheet, cash flow statement and income statement. And on the basis of the three report, on the company's operating capacity, profitability, solvency and development ability the analysis. The fifth part, based on the Huaneng Group financial analysis, and SWOT analysis was carried out on Huaneng Group own condition and external competition environment.
(4) the strategic choice of assets operation of Huaneng Group. Based on the analysis of Huaneng Group's asset operation performance, the company's financial investment strategy, financing strategy and cost control strategy are formulated according to local conditions.
(5) conclusions and policy recommendations. The article summarizes the previous contents, and on this basis, puts forward some suggestions for Huaneng Group to strengthen financial risk control, improve the comprehensive quality of financial staff and carry out financial information reform.

【學(xué)位授予單位】：西北農(nóng)林科技大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2014
【分類號】：F426.61;F406.7

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