Research On The Financial Performance Evaluation Of Ceramics Listed Companies Based On Factor Analysis

China,as the headstream of ceramics and a major producer and consumer,occupies a large share in the international ceramic market.In recent years,the international restrictions on the dissolution of plumbum and cadmium have caused the tendency of global ceramic market of being upscale,scale,artistic,diversified and personalization,which brings opportunities and challenges to for Chinese ceramic enterprises development at the meanwhile.At present,Chinese ceramic enterprises are small in scale,badly in homogeneity of products and have certain defects in brand operation,which causes the weakness of international competitiveness and insignificant economic benefits.Based on this background,studying the financial performance of listed ceramic companies has important theoretical and practical significance.This article analyzes and evaluates the financial performance of China’s ceramic listed companies by theoretical analysis and empirical research.The article systematically sorts out the literatures on enterprise performance evaluation of different countries,and reviews the research results of them.First of all,it briefly expounds the general situation and operation status of the listed ceramic companies in China.Secondly,selects the relevant financial data of 16 ceramic listed companies in 2014 to 2018 as the research sample,and single index analyzes them from four perspectives: profitability,operating capacity,solvency,and growth capacity.It then screenings 16 financial indicators to build a financial performance evaluation system of listed ceramic companies,make a comprehensive evaluation and analysis of the overall financial performance of listed ceramic companies by using factor analysis,and finally get the the scores and rankings about comprehensive financial performance of these 16 listed ceramic companies for five years,The results are compared and analyzed horizontally and vertically to determine the status and comprehensive financial performance of listed ceramic companies in the same industry.The empirical results show that:(1)Profitability,main business development capability,main business profitability,capital profitability,asset liquidity,and debt capability are the main factors influencing the financial performance of Chinese ceramic listed companies.In particular,the profitability factor is strongly related to the comprehensive score of the financial performance evaluation of listed ceramic companies.(2)The overall financial performance and operating profitability of listed ceramic companies in recent years are poor,and their competitiveness is lacking.(3)The financial performance of Dongfang Zirconium,Yuexin Health and ST Xinyi is bad,while the financial performance of Diou Home Furnishing,Mona Lisa and Sanhuan Group is good and their rankings are stable and high.Finally,based on the above researches,in order to improve the financial performance of Chinese ceramic listed companies,put forward relevant suggestions of improving corporate profitability,grasping main business development,optimizing corporate capital structure,determining a reasonable debt scale,and optimizing asset liquidity management,and summarized the deficiencies of this research,then proposed the follow-up research directions according to these deficiencies and the problems which need further research.