White Goods Company Financial Competitiveness Analysis

This thesis is to analyze the competitiveness among white goods companies. Through the financial statements, financial indicators, DuPont Analysis of Financial Condition analysis of the company. This thesis choose from white goods company in Qingdao Haier and Midea Group as a representative.Haier and Midea is the leading home appliance manufacturing-based group of Chinese enterprises, Haier is the world’s first large-scale White goods brand, accounting for 10.2% share of the world market, ranking first in the world in 2014(20th), "China’s most Valuable Brands " list announced, Haier brand value 103.8 billion yuan in the first 13 years in a row topped the list; and Midea Group, as a large-scale comprehensive enterprise group, with brand value of 68.315 billion yuan the previous five consecutive years, among the top position, September 18, 2013, Midea Group(SZ000333) listed in the Shenzhen Stock Exchange, owns Little Swan(SZ000418), Welling Holding(HK00382) two sub-listed companies.In this thesis, Haier and Midea 2009-2013 financial statements for five years, and analyze their financial condition and operating results. Through the analysis of Haier and Midea’s solvency ratio, profitability ratios, operating capacity rate ratio and the ability to grow rate, the use of the intrinsic link between the main financial ratios of the company’s financial condition and operating results of a comprehensive evaluation of the DuPont analysis system, concluded that Midea Although profitability, solvency in the industry does not have the obvious advantage, but from the basic index analysis, Midea Group consolidation in 2013, the large appliances, small appliances, electrical and logistics combined in together, China’s manufacture and sale of the largest and most varieties of home appliances listed companies, companies are more manageable. Haier showed the ability to grow rate in the five years, there have been signs of a recession, but Midea very strong upward trend.