The Study On The Financial Problems Of The Power Enterprises

The power enterprises which are critical for the national energy security and economic lifelines play an important and fundamental rule in the economic society. In 2007, a large number of the electric power enterprises were caught in a dilemma and suffered from a sharply deteriorating profit capacity because of the freezing rain and snow catastrophe and the increase in the electricity and coal price. Therefore, it seems particularly important to seek the sustainable development of the power enterprises on the basis of the analysis and evaluation of their financial situations.Through financial analysis of the power enterprises' financial quality, evaluation of the financial position and operating results, provided business direction and clues for the manager of the power enterprises to improve their management, provide assistance for the investors, creditors and the operator's decision, can also help external information users.The main contents include: (1) introduced and explained the traditional financial analysis and evaluation methods, aggregated the major contributions and limitations of these financial analysis and evaluation methods, provides a reference and thinking for this study; (2) introduced the current situation of power companies, coal-fired electricity industry relations, electricity price and tariff reforms carried out, increasing understanding of the power industry, in order to better carry out financial analysis and evaluation of the power enterprises; (3) considered the characteristics of power enterprises, combined the various financial ratios announced by listed companies, on the basis of the traditional financial analysis and evaluation system, construction the power enterprises' financial analysis and evaluation system from the level of financial indicators and non-financial indicators. This system not only considered the role of the financial factors, but also considered the role of non-financial factors. non-financial factors, such as human resources, innovation ability, can reflected power enterprises' development potential, can effectively make up for the defects of purely financial indicators system, which easily lead to short-term behavior; (4) using the weighted comprehensive evaluation method analysis and evaluation the financial quality of the power enterprises, and Huaneng Power International Inc as an example of the empirical analysis, comparison with the industry standard, analysis of its financial situation and the risks, challenges and development opportunities; (5) introduction of fuzzy comprehensive evaluation, and conducted a preliminary attempt to the application of fuzzy comprehensive evaluation in power enterprises' financial analysis and evaluation; (6) raised the direction of future efforts from the areas of fund management, prevent and control the financial risk of power enterprises, cost management and so on.