A Study Of Financial Performance Evaluation Of Shanxi Coal Listed Companies Based On Factor Analysis Method

With the development of the social economy,coal occupies the important position in economy.Coal is a non-renewable fossil fuel which is known as industrial food.Coal is not only an important fuel energy products,but also the important chemical raw materials,clean energy.Besides,it plays a huge role in the development of clean energy and\ low carbon economy of the world.Coal enterprises are an important support for the national economy and they have characters of mining,energy,basic raw materials industries,for which reason they occupy an important strategic position in Chinese enterprises.Coal enterprises not only provide heating and electricity,but also create favorable conditions for export directly.Also,it plays a vital role in the economy,especially for Shanxi Province whose owns many resources especially coal resource.All in all,as a province rich in resource,Shanxi Province is profoundly affected by the coal industry.Based on the existing theoretical performance evaluation,this paper discusses the factor that should be considered in enterprise performance evaluation.This paper aims to compare performance of listed coal enterprises in Shanxi Procince.After screening,this paper selects out 11 listed coal companies.First of all,after reading annual report from 2011 to 2015,this paper choose indicators of debt paying ability,operation ability,growth abilityand profit ability and make a single index evaluation horizontally and vertically by using them.Secondly,this paper selects 16 index and using the factor analysis method in the spss 20,build model respectively from 2011 to 2015 and rank the 11 coal listed company by their performance.Finally,analyze the scores and give the measures and suggestions to improve the coal performance of listed companies in Shanxi Province.Conclusions: first,,the most of the listed coal companies show a trend of decline in the overall financial performance in profit ability,debt paying ability,operation ability,development ability from 2011 to 2015;Second,the profit ability,debt paying ability,operation ability,development ability affect enterprise's financial performance as a whole,one aspect can't come from consideration;Third,Yangquan coal and Datong coal,LuAn ring can,Orchid kechuang whole in 11 listed companies are in a leading position,and ability in one area often show distinct advantages.For example: in 2015 the Orchids kechuang's overall financial performance rank in the first place,its operation ability score also exist in the first place;Aetna group,Coal gasification are often ranked at the bottom and ability in one area is often slight obviously.For example,in 2014 Coal gasification ranked in the bottom overall financial performance,its debt paying ability also scored in the bottom,the debt paying ability is weak.Finally,combining with the single index evaluation and the factor analysis method to analyze scores,put forward countermeasures to improve the Shanxi coal listed company financial performance Suggestions: improve the quality of coal products to enhance corporate profitability;improve asset utilization efficiency and enhance the enterprise operation ability;,to optimize the industrial structure facing circular economy opportunity,so as to improve the ability of enterprise development;to optimize the structure of its liabilities,give play to the role of financial leverage.Finally,combining with the single index evaluation and the factor analysis method to analyze scores,put forward countermeasures to improve the Shanxi coal listed company financial performance Suggestions: improve production technology,improve the quality of coal products,realize the authors efficiency,enhance corporate profitability;improve asset utilization efficiency,improve the enterprise operation ability;optimize the industrial structure facing circular economy opportunity,so as to improve the ability of enterprise development;optimize the structure of its liabilities plays to the role of financial leverage.