The Study On Evaluation Of Aluminum Industry Listing Corporation

The demand of aluminium is second only to the demand of iron and steel inChina. And aluminium industry is highly related to other industries, for exampleConstruction，transportation, machinery manufacturing, electronic industry and so on.The healthy development of aluminum is very important to the national economy. Butthere has been not financial performance study about aluminum industry listedcompany so that it has important significance to the theory of aluminum industryfinancial performance, as well as has reference value for the aluminum industrydevelopment polic.This paper reviews the relevant literature on financial performance evaluation athome and abroad, expounds the theoretical foundation of financial performanceevaluation--the principal-agent theory and the stakeholder theory, as18aluminumindustry listing Corporation that listing in Shanghai and Shenzhen two city as researchsample, then descriptive statistically analysing18aluminum industry listingCorporation from2007to2011financial situation, finally drawing five Conclusions.The first one is that profitability of aluminum industry gradually increasese in thebeginning of2009. The second one is the operation ability of aluminum industry hasincreased in5years, but the magnitude is very small. The third one is the solvencyability of aluminum industry is good, and short-term debt-paying ability has improved.The last one is the growth ability of aluminum industry enterprises is uneven.Using the factor analysis method to evaluate the18aluminum industry listingCorporation’s financial performance evaluation, the empirical result shows: thefinancial performance of aluminum industry listing Corporation is ideal in2011, andthe key factors to affect the financial performance of aluminum industry is the growthrate of total assets, sales net interest rate and liquidity ratio. Then throughcomprehensive comparison and analysis the financial performance score of listingCorporation from2008to2011years, drawing that the leve of the aluminum industrylisting Corporation financial performance is uneven, the enterprises that have goodfinancial performance in four years are Nanshan aluminum, Liyuan aluminum,Asia-Pacific Technology, Ropes Kim and the pillars of the new material, theenterprises that have bad financial performance in four years are China aluminum,*ST aluminum, Ningbo Fubon and so on. Finally the paper selects7listingCorporation as the object, analysising the causes of its financial performance is good or bad. The7listing Corporation is Nanshan aluminum, Liyuan aluminum,Asia-Pacific Technology, ropes, pillars of the new material, Zhongfu and JiaozuoWanfang.On the basis of above analysis, the paper finally puts forward four suggestions.The first one is to strengthen the technological transformation, improve thetechnological content of products, reduce production cost. The second one is to try toimprove the growth ability of enterprise. The third one is to promote the developmentof the industrial chain, then improve profitability. The last one is to increase thedevelopment dynamics of bauxite resources, develops the aluminum market, improvethe operating ability. By these to improve the level of financial performance ofaluminum industry.