The Application Of Corrected WAL's Marking Way In The Financial Performance Of Listed Companies In China's Bio-pharmaceutical Industry

Bio-pharmaceutical industry is called “sunrise industry that never fall” and it is one industry that our nation has been supporting and fostering.In recent years,since changes took place in national people's living environment and their health concepts,especially acceleration of aging process,bio-pharmaceutical industry has maintained continuous growth.With overall and great development of global pharmaceutical market,bio-pharmaceutic industry develops strong in fierce domestic and foreign competition environment but also faces unprecedented challenges.The financial performance evaluation of bio-pharmaceutical business has been a topic of concern and discussion for many scholars and business operators.Reasonable and effective financial performance evaluation system can reveal the deficiency in business operation and management,which becomes the evaluation basis for managers to formulate business development policy.On account of development situation of China's bio-pharmaceutical industry in 2015,the paper takes 32 listed bio-pharmaceutical companies as study objects and scores and ranks these 32bio-pharmaceutical enterprises' financial performance with the application of corrected Wall Marking Way.Meanwhile,it examines the effectiveness of financial performance evaluation system on the basis of financial reports of listed bio-pharmaceutical companies in 2016.Then,as VCANBIO is a backbone power in China's bio-pharmaceutical industry with great development potential it takes VCANBIO for case study and analyzes its financial performance via established financial performance evaluation system.The paper studies the financial performance of listed companies in bio-pharmaceutical industry from five aspects.The first chapter is introduction.It respectively introduces background and significance of this study,research summary of domestic and foreign enterprise performance evaluation theory and methods,research methods and ideas,and innovation.Then expounds theory basis of enterprise financial performance evaluation and financial performance evaluation approaches applied in the paper.In the third chapter,it evaluates financial performance of listed bio-pharmaceutical companies using corrected Wall Marking Way.First,it starts with overall development of bio-pharmaceutical industry in 2015 and summarizes characteristics of current bio-pharmaceutical business development.Then it sets 32 listed bio-pharmaceutical companies as study object and establishes financial performance evaluation system which accord with development characteristics of listed bio-pharmaceutical companies.Finally,it verifies the effectiveness of this financial performance evaluation system.In the fourth chapter,it conducts case study by choosing VCANBIO as object,which is a company in middle positionamong listed bio-pharmaceutical enterprises.It defines financial management and operation problems and proposes corresponding countermeasures through vertical comparison of its five years' financial data and parallel comparison with other bio-pharmaceutical companies using integrated evaluation methods of strategic analysis and financial analysis.The fifth chapter is conclusion and revelation.It puts forwards points that needs improvement in the paper.