鲁泰A财务分析英文版.docx

鲁泰A财务分析英文版.docx

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鲁泰A财务分析英文版

2015-2016学年第一学期

《财务报表分析》

期末大作业

题目：

鲁泰纺织股份有限公司财务报表分析

院系：

金陵女子学院会计系

班级：

13级8班

姓名：

学号：

教师：

赵

日期：

2015年12月28日

Contents

.Abstract----------------------------------------------------------------------------------3Reportobjectives---------------------------------------------------------------------------------------3

.Summaryofthebasiccompanyinformation---------------------------------3

Briefstory-------------------------------------------------------------------------------------------------3

Mainbusiness-------------------------------------------------------------------------------------------3

Leadershipstyle----------------------------------------------------------------------------------------3

Companydevelopmentpotential------------------------------------------------------------------5

R&Danddevelopmentofthecompany---------------------------------------------------------7

Thecompany'ssales-----------------------------------------------------------------------------------9

Corecompetenceofthecompany----------------------------------------------------------------11

Ⅲ.Appendix-----------------------------------------------------------------------------12

.Abstract

Reportobjectives

ThisisananalysisreportaboutthefinancialperformanceofShanghaiJinJiangInternationalHotelsDevelopmentCo.,Ltd.whichhasbeenlistedintheSSEin1994.Thisreportisachievedbyresearching,analyzingandevaluatingthecompany’sconsolidatedfinancialstatements,andthencomparingwiththeperformanceofcompetitorsinthesameindustry.

Theobjectiveofthisanalysisreportistoprovidesomemeaningfulandfairjudgementofthecompanyandhelptheusersofthefinancialstatementtomakecorrectdecisionsabouttheinvestmentstheyhold.

.Summaryofthebasiccompanyinformation

Briefstory

LutaiTextileCo.,Ltd.isaforeign-investedjoint-stockenterprises,A-shareandB-shareListedCompanies,nowhas36manufacturingfactories,12controlledsubsidiaries,highqualitycottonbaseof15millionmuiswithfromcottonbreedingandplantingtospinning,dyeing,weaving,finishing,garmentproduction,todualbrandmarketingofacompleteindustrialchainoftextileandgarmententerprises

Companywithanannualoutputofyarndyedfabric1.9millionmeters,fabricprintinganddyeing85millionmeters,shirts,20million;80percentofproductssoldintheUnitedStates,EuropeanUnion,Japanandsoonmorethan30countries,high-gradeyarndyedfabricindependentbrandexportsreached70%,exportmarketshareaccountedfor18%oftheglobalmarket.

Mainbusiness

Personnelcottonyarn,yarndyedfabric,shirt,garmentaccessories,healthunderwear,textileandrelatedproductsproduction,processingandsalesbusiness;textileandapparelproductdesign,researchanddevelopment,technicalservices;nonoperatingquotalicensemanagement,nonfranchisedcommoditypurchasingexport,hotels,guesthouses,restaurants,meetingandtrainingservices;housingownership,landleasingbusiness;purewaterproductionandsales.

Leadershipstyle

LiuShizhen,chairmanoftheboardofdirectors,male,LuThaitextileLimitedbyShareLtdchairman,generalmanager.In1987,asthecoalindustrycompanymanager,hewasappointedpart-timeZiboseventhcottonspinningfactory,whenwiththestaffthatfullofexpectationandthereisnolackofsuspicionrelativeheheftsthecomponentsandresponsibilitiesasadirector.

1988,LiuShizhenestablishedandforeignjointventure,openupmarketsathomeandabroadtoearnmoneyofstrategicthinking,decisionandThailandThaiLunTextileCo.,Ltd.jointventureenterprise.Inordertoformalities,heontherun.ToBeijing,inordertogettoworkontimetoworkontimetotheofficeofthefunctionaldepartments,hewaslateatnightfromZibotoBeijingtocatchup,intheroadandthedriverturnsdriving,whenpeoplegotowork,hehadtowaitoutsidetheofficeofthe8.Inthisway,morethan40daystime,beforeandafterrunningBeijing33times,ranbadaSantana,coverfinished243chapter,withincrediblespeedandefficiencyrununderajointventureproject,pioneeringenterpriseconstructionbecomeChinaYangtzeRivertothenorthofthefirstSinoforeignjointventureCo.,Ltd..Enterprisesshowavigorandvitality;workersfromLiuShizhen'sbodytoseethehope（thebeginningofentrepreneurshipisstillveryhard-workingandmotivated）.

"Weforeigners'money,foreignersandlearntheskilledforeigners,referringtothemeasuresfortheadministrationoftheforeigners,finally,ourproductssoldtoforeign,tothecountryaforeignexchange,earnisforeigner'smoney".LiuShizhentoreporterssaidthatin1988,ZiboseventhcottonmillsandThailandThaiLunTextileCo.,Ltd.setupSinoforeignjointventuresLutaiTextileCo.,Ltd.,foreigncash$275millionintothecapital,thenaddedinsuccessionto$530million.Later,LuThaireformlistedBsharestoraisefundsoutsidetheyuan.Companiesusethefundspurchasedforeignfirst-classequipment,hiredforeignwell-knownindustryexpertstoproduceconformstotheinternationalstandardofcottonyarnandyarndyedfabrichigh-endproducts,morethan80%ofproductsexportedoverseas,colorweavingtheworldking,andbytheoriginalasmallsinglespinningenterprises,developmentofasetofcotton,spinning,dyeing,weaving,finishingandgarmentmanufacturersimprovetheintegrationofindustrialchain.

LiuShizhenhadgreathardshipspirit.There'snoSundayandholidaysinhisworkschedule.He365daysayear'stime,almostallusedinthework,LiuShizhentoworkhardlike.FromJapan,theintroductionoftheadvanced2112Ospinningequipment,accordingtothenormalinstallationspeedofsomeunitsatthattimegenerallyinayearorso.LiuShizhenheldanemergencymeetingofteammembers,wereachedaconsensustothefastestspeedinproduction.Inthisway,theyonlytook55daystocompletetheinstallationandasuccessfultest.WhenLuTaiputthefirstbatchofproductsforjointventurepartnerstowatch,theotherthoughtiswherehalfbelieveandhalfdoubt,borrowedsamples.WhentheJVpartnersisLutaiproducedsamples,stunned,nodded.Theyimmediatelysaidthateveryyearbythecorporatecontractdividendsarenottakenaway,allfortheexpansionofthecompany'sexpansionofreproduction.

Entrepreneurshipatthebeginning,LiuShizhenestablishedthe"famousbrandstrategy".Underthebrandstrategy,LuThaiproductsintheinternationalcottonmarketbyJapan,Thailand,SouthKoreaandAustralia,astheChinesetextileindustrymaotai".OnSeptember1,2004,heldintheGreatHallofthepeopleinBeijing,"ChinafamousbrandandqualitymanagementadvancedinrecognitionoftheGeneralAssembly",LutaiTextileStockCo.,Ltd.productionof"LutigerLeiFen"shirtwonthe"2004Chinafamousbrandproduct"title.Inthetrainingoftalent,LiuShizhenattheexpenseof.Overtheyears,thecompanycontinuedtoexpandthescaleofproduction,increasetheproductionofnewprojects,fundshavebeenrelativelytight.However,inordertothelong-termdevelopmentofenterprises,thecompanyhasbeentosupporttheconstructionoftheschool.LiuShizhenhaspersonalinvestment100millionyuan,specificallyforthesecondvocationalschoolsetupa"LuThaitextilescholarshipfund",inordertorewardoutstandingachievementsinteachingofteachersanddeservingstudents.InSeptember11,2004,thecompanyheldthefifthsessionofthe"LuThaitextilegrants"issuingceremony.

Companydevelopmentpotential

（a）industryboom

Singlerowofoneofthebusinessindicatorsforthetextilemanufacturingsector.Withtheslowrecoveryofexports,in2012,LuTaiAtomaintainasingleperiodof1months.In2013,thecompanyincreasedthesinglestageto3-4monthslevel.

December2013,LutaiAshirtordersscheduledto2014Aprilto2014Marchrankedordershirt.LuThaiAyeartomaintain100%operatingrate.

FedcutthesizeofQEdisplaytheU.S.economyisstronger,amodestrecoveryinexternaldemandenvironment,export-orientedenterprisesbenefit,productseventually70%soldtoEurope,AmericaandJapan,andhavestrongpricingpowerwillbe14yearsinEurope,AmericaandJapan,thethreemajoreconomiesthesimultaneousrecoveryofthebeneficiaries.

"Thisyearwemarketoverallismuchbetterthanlastyear,evenonthewholetoexceedthepreviousyear.InJune,especiallyafterAugust,theJapanesemarketisactive;theUnitedStatesmarketalthoughthedecline,butourqualitycustomers,thecustomerdidnotreduceorders,someinfluentialcustomersbutincreasedorders.Andthedomesticmarketalsohasarelativelygooddevelopmentthisyear."ZhangJianxiang,generalmanagerofthegeneralmanagerofthetextileLimitedbyShareLtdanddirectorofthetechnologyresearchanddevelopmentcenter,said.

（b）farmerssubsidy

MarketofgenerallyexpectedCottonSubsidyPolicywillbelaunchedin14years,subsidypolicyimplicationswillbemainlyfinecashmerecotton,Lutaiwithcottontocottonbased,finecottonaccountedforonly20%,subsidylimiteddirectimpactonthecompany.

Implementfarmerssubsidypolicy,willenablethedomesticcottonpricesreturntothemarket,whichmeansendofcottonpricesfallbackbehavior.Implementationoffarmerssubsidieswillenablethedomesticcottonpricesreduceadministrativeintervention,attributedtomarketsupplyanddemand,canalsoreducethepurchasingcostoftextileindustry,enhancetheinternationalcompetitivenessandprofits.

"Subsidies,expectsthedomesticpriceoffinecottonandlongstaplecottonwillbeclosertothe.Forfarmers,plantingcottontopaymore,butthepriceismorecloseto