Research On China Railway Financial Performance Evaluation Based On EVA

The role of railways in national economic and social development is very important.By the end of 2017,China's railways mileage has reached 127,000 kilometers,ranking the second in the world.The high-speed railway is 25,000 kilometers,ranking first in the world.From now until early next year,Shijiazhuang to Jinan high-speed railway,opened marked "been horizontal" high-speed rail network in China in the "four horizontal well packaged," China s high-speed rail network is further developed.In 2013,the country put forward the great strategic concept of "The Belt and Road Initiative",which created a new pattern of international economic cooperation and opened up broad space for China's high-speed railway to go to the world.At present,there are more than 180 listed companies related to the high-speed railway industry,and more than 60 of them are at the core.The industry is quite complex.Order according to the industry,the first railway infrastructure is benefit related areas,such as railway construction and engineering machinery enterprises and track production enterprises,railway locomotive equipment procurement in after the completion of the project,railway companies benefit in the end.This article selects in engineering construction as the main business of China's high-speed rail construction of leading enterprises,China Railway Group Limited,as the object of case study,the introduction of the concept of EVA is economic value added,through the analysis of the transverse and longitudinal analysis research on comprehensive evaluation of financial performance.EVA is a period of time adjusted net operating profit after tax and the difference in the cost of capital invested capital,due to the size of the EVA considers the equity capital cost,is considered to be a kind of can better reflect the company value creation and the profitability of financial evaluation methods,combined with EVA to establish financial performance evaluation system,then,can the horizontal evaluation of the level of China railway industry over the same period,to find their own problems,form the improvement strategy.Also use financial ratio analysis and trend analysis of the China railway operation ability,debt paying ability,profit ability level of the overall analysis,to explore the trend and reason,changes in nearly five years of the longitudinal analysis of the deficiencies in the development of China railway group,accordingly puts forward my own advice.