Financial Analysis And Countermeasures Of Hu Bei Chu Tian Expressway Corporations

As a basic industry of country economy, highway sector plays a decisive role in economic and social development, which is closely related to other industries, people’s production and daily life. At present, financial analysis method has got relatively complete and embedded research by our country scholars who put forward the corresponding financial analysis system according to the characteristics of the different industry itself. However, the research on financial analysis of highway sector is seldom involved. According to domestic and foreign literature and combine with the characteristics of highway sector, the paper put forward financial analysis system of highway sector based on the current financial analysis,which includes strategic environment analysis,analysis of assets, liabilities, profitability analysis, cash flow analysis, a total of 6 aspects. Old theory of Highway industry financial analysis has been summarized and supplemented in detail.ChuTian Expressway is the first listed highway company, whose businesses are investment of highway, bridges and other transportation infrastructure and highway management,highway maintenance,road infrastructure development in their turf. Combined with the enterprise financial statements from 2011 to 2013, this paper will take ChuTian Expressway as an example to analyze and calculate assets of the enterprise, liabilities, profits and cash flow conditions and each financial indicator, evaluate comprehensively financial condition and find the problems existing in the operation and management. Through the analysis of this paper, capital structure of ChuTian Expressway is relatively stable; the operation ability is stronger and the enterprise has a good growth. Nonetheless, Some issues are still present, which are debt larger, solvency to improve, comparatively high cost, weaker profitability etc. This paper holds that, taking measures to increase toll income, emphasizing on cost management, raising profitability, optimizing capital structure, carrying out diversified operation are required to increase income and reduce expenditure in the future development of ChuTian Expressway.