baibing GU2文档格式.docx

baibing GU2文档格式.docx

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ThisreportwillusefinancialratioanalysisandtrendanalysisastwotoolstoanalyzethefinancialperformanceinthehistoryofICBConthreeaspectswhichincludebank’sprofitability,liquidityandsafety,tohelpthepotentialinvestorstoevaluatecurrentandfutureinvestmentvalueofICBCandmakeabetterdecision.

ThemainanalysistoolsoftheinvestmentvaluewhichwillbeusedincludeNetProfitandNetProfitMarginanalysisandtheReturnonEquityRatio,Loan-to-DepositRatio,CashFlowRatio,CapitalAdequacyRatioandNon-PerformanceLoanRatioanalysis.AndfinancialindicatorshaveadecisiveroleontheinvestmentvalueanalysisanditwillgiveapictureofinvestmentofICBCtothepotentialinvestors.

3.ReasonswhyIchoosethisissueandhowtocorrespondsubjectcovered

Themainreasonsforchoosingthisissueasfollow:

●Inthissocietywhichtheinformationisdevelopingrapidly,knowingacertainnumbersoffinancialinformationaboutinvestmentvalueismostbeneficialforinvestors.Inaddition,theinvestmentvalueofbanksindustryasahottopicattractsthenumbersofpeopletofocus.

●TheratioandtrendanalysisasanimportantroleinthefinancialtoolsusedtoanalyzetheinvestmentvalueofICBC,andthisinformationiseasilytofindintheannualfinancialstatements.

●Analysisthefinancialcriteriaofinvestmentvaluecanreflectthecompany'

spastandevaluatefutureperformanceinacertainextent.Sothisissueisworthtodiscuss.

ThefinancialstatementsanalysisinthisreportwhichwillbeusedcanbefoundinBusinessAccounting:

Advanced,whichcodeisDE3934.

4.ReasonswhyIchooseIndustrialandCommercialBankofChina

Withthefinancialmarketsdevelopment,moreandmorecompaniesareimprovedgradually.Then,therearealotoffundswillflowintotheinvestmentmarket.Atthesametime,thebanksarebecamethefocusofthemajorityofinvestors’objectives.Themainreasonforchoosingthiscompanyasfollow:

●Afterseveralyearsofdevelopment,IndustrialandCommercialBankofChinaastheoneofthestates-ownedbankswassuccessfullylistedin2006.Andbecausethegradualexpanddistributionschannelsandthehighlightedcorestrengths,itbecamethefirstlistedbankandthemostprofitablebankoftheworldin2008.

●Withsupportofthegovernment,ICBCwhichhasahugeorganizationsystemandadvancedinformationtechnologyhasbeenbecamethelargestcommercialbank.Asthelargeststate-ownedcommercialbank,ithaslargecompetitionadvantageswhichleadtothemarketshareofICBChasastablerising.TheinvestmentvalueoftheICBCinStockMarketisalsoattractedthenumbersofinvestorstofocusintheChinaStockMarketfield.

●DuetomymotherisamanageroftheICBC,Icangetmuchprimaryinformationeasilytoenabletheinvestigationismoreaccurately.AndbecausetheICBCisthemostfamiliarbankforme,Iwanttoknowmorefinancialinformationaboutit.Therefore,theinvestmentprospectsofICBChaveagoodvaluetoanalyze.

5.ThesourcesofinformationandreasonswhyIchoosethetypeofcollection

Inthisreport,bothsecondaryandprimarydatawillbeusedto…..

Secondarydataisthathasalreadybeencollectedbysomeoneelseforadifferentpurposetoyoursissecondarydata.Thesecondaryinformationisincludingtheinformationfromthelibrary,newspaper,magazineandInternet.Astheexternaluserforfinancialinformation,theannualreportoftheICBCwillbeusedtosupport.SointhisreporttheinformationfromtheInternetandlibraryareusedfrequently.

Theadvantageofthesecondaryinformation:

●Theinformationiscollectedquicklyandcheaplywhenthetimelimited.

●Muchinformationwhichneedstouseiseasytoaccessinthecollection.

Primarydataisthatwhenthedatacollectoristheoneusingtheinformationforanalysis,thesourceisprimary.Theprimarydataisincludingquantitativedata,qualitativedata.Andonlythequantitativedataisusedinthisreport.

Theadvantageoftheprimaryresearch:

●Theinformationisup-to-date,specificandaccuratewhenthefinancialdataanalysis.

●Itisthetailor-madetosuitthefinancialinvestmentresearch.

6.Themethodstocollecttheinformationandthereasontochoice

Themainsecondaryresearchinthisreportisincludinginternetandlibrary.

a.Internet

Fromtheinternet,thenumbersofannualfinancialreportsandthediscussionsabouttheICBCareeasytofind.

TheadvantageoftheInternet:

●Itcanhelpmeknowtheupdateinformationaboutthefinancialanalysis.

●ItallowsmetocollectenoughinformationforICBCinashorttime,andatthesametimethecostsarelimited.

b.Library

Fromthebook,professionaljournals,magazines,andnewspapersinthelibrary,IcanfindthematerialssuchashistoryandenvironmentchangesabouttheICBCandthedatawhichcomparedwiththeotherbanksinformationatthesametime.

Theadvantageforlibrary:

●Itcanprovidelargenumbersofinformationquicklyandcheaply.

●Thedatabaseoftheschoollibraryisverypowerfulanditcanhelpmetocollectinformationfromthebook,professionaljournals,magazines,andnewspapersatthesametime.

ThemainprimaryresearchinthisreportisincludingFace-to-Faceinterview.

ThroughdiscusswiththeMr.ZhangwhoisthemanageroftheICBCinvestmentdepartment,IknowmanyinformationaboutcurrentinternalchangesoftheICBCandthekeypointswhichcaninfluencetheinvestmentvalueofICBC.

TheadvantageofFace-to-Faceinterview:

●Itisfeasibleformetocarryoutandacquirealotoflatestinformationwhichcannotbecollectedfromtheinternetorlibrary.

●Themostsuitablemethodinquantitativeresearch,thiskindofinformationistrustworthyandrelevanttotheinternalinformationoftheICBCaccurately.

7.Criteriausedtoassesstheimplicationsoftheissue

Inordertopresenttheprofitability,liquidityandsafetyoftheICBCbetter,thetrendanalysisandratioanalysisastwotoolswillbeusedtoanalyzethedifferenttype’sdataoffinancialstatementsandcomparewiththedatafrom2004to2008.Then,throughthethreeabilityanalysistoidentifywhetherornottheICBChasaninvestmentvalueasfollow.

Conventionally,thebankingindustryusesxxx,xxxandxxxtoevaluatetheinvestmentworthinessofacommercialbank,thereforeinthisreport……

●Profitability

Itreferstotheabilityhowtocreateprofits,alsoknownasenterprisefundsorcapitalvalue-added.Inthebank’sindustry,profitabilityasonecriteriatodecidewhetherornotthebankhasaninvestmentvalue.Accordingtothebank’sindustrystandard,thehighprofitabilityindicatesthebankhashighshareholder’sreturnandgoodcompetitionadvantagethenithasagoodinvestmentvalue.Butthelowprofitabilityindicatesthebankdoesnothaveinvestmentvalue.

ThisreportwillbeusethetrendanalysistooltoanalyzethetrendchangesofNetProfitandNetProfitMarginandusetheratioanalysistooltoanalyzetherangevariationofReturnonEquityforICBCtoidentifytheprofitabilityoftheICBCtodecidetheinvestmentvalue.

●Liquidity

LiquidityisanabilityofICBCpresentforassetsturnintothecash.Inthebank’sindustry,liquidityasonecriteriatodecidewhetherornotthebankhasaninvestmentvalue.Accordingtothebank’sindustrystandard,thehighliquidityindicatesthebankhashighassetutilizationabilityandenoughmoneytofacetotheproblemofcashflowthenithasagoodinvestmentvalue.Thelowliquidityindicatesthebankdoesnothaveinvestmentvalue.

ThisreportwillbeusetheratioanalysistooltoanalyzetherangevariationofLoan-to-DepositRatioandCashFlowRatioforICBCtoidentifytheliquidityoftheICBCtodecidetheinvestmentvalue.

●safety

SafetyreferstoabilityofmeasurewhetherornottheICBChasabasicassetsriskandgoodwill.Inthebank’sindustry,safetyasonecriteriatodecidewhetherornotthebankhasaninvestmentvalue.Accordingtothebank’sindustrystandard,thehighsafetyindicatesthebankhaslowassetsriskandperfectgoodwillthenithasagoodinvestmentvalue.Thelowsafetyindicatesthebankdoesnothaveinvestmentvalueevenbankruptcy.

ThisreportwillbeusetheratioanalysistooltoanalyzetherangevariationofCapitalAdequacyRatioandNon-PerformanceLoanRatioforICBCtoidentifythesafetyoftheICBCtodecidetheinvestmentvalue.

8.Thetimescalesforconductingtheinvestigation

SourceofInformation

MethodsAdopted

ActivitiesandInformationCollected

Duration

Costs

Secondary

Information

In