| With the rapid growth of China's GDP in the past few years,the rapid rise of the domestic labor costs,China's large number of cheap labor by the demographic dividend is disappearing rapidly.Chinese manufacturing cost advantage is away from us,rely on cheap low-end labor-intensive manufacturing industry is facing a hitherto unknown challenge,industrial restructuring and upgrading urgently,and through automation equipment to replace part of the manual,precision,manufacturing automation,the only way which must be passed but also the development of high-end manufacturing,Chinese has become an important market for global robot.The Chinese Academy of Sciences has ownership background,SIASUN was the first batch of GEM stocks as the first unit of the robot,robot technology is China new market benchmark,the system is also the strongest integrated manufacturing enterprises,in 2015 listed in two market value reached 31 billion 500 million yuan.As Chinese inverter Kymmene technology leader,has a strong representation in the robot core parts of the development,manufacture and management of NC robot inverter and so on,in the two levels of market capitalization has reached 33 billion 900 million.In this paper,the two gem robot manufacturing leading enterprises are analyzed,the purpose is to draw the similarities and differences between the two companies in the financial management and recommendations for future management.This paper selects SIASUN and Huichuan listing announcement,201 years-2015 years,the annual financial statements of securities industry report,stock research reports and industry information on the website of information,as the data and data sources.This paper is composed of seven chapters.It is based on the idea of "from big to small" and"from the shallower to the deeper".The first chapter outlines the overall situation of the industry,mainly describes the development trend and opportunities of the robotics industry,and expounds the research background,problems and significance.The second chapter briefly reviews the development process of the two companies,mainly from the product structure,operating conditions,capital market performance and the main financial data of four aspects of the basic situation of the two companies.The third chapter is divided into three dimensions of total amount,trend and structure from the whole angle.The three main reports of the two companies are comprehensively compared and analyzed.The fourth chapter constructs the financial index system,and deeply analyzes the financial indicators of the two companies.The fifth chapter of the ROE index detailed decomposition,and then from the four aspects of profitability,cash generating ability,risk control,self sustainable growth and value creation ability of comparative analysis,the formation of evaluation of the overall business model of the two companies.The sixth chapter draws the financial strategy matrix and makes the evaluation and suggestion through their respective positions.And from the three aspects of dividend,working capital management and investment,the overall evaluation of the two companies' financial policy.The seventh chapter combines the analysis of all previous chapters,and then summarizes the main conclusions of the comparative study of the two companies and the shortcomings of the research.Through the research we can draw the following conclusions:from the research foundation of financial index system and business model,Kymmene profitability and value creation ability than SIASUN;from the financial policy and strategy research shows that the efficiency of working capital management capabilities,SIASUN balance efficiency and investment policy are weaker than huichuang.Through the analysis of the structure of the financial statements,the comparison of financial indicators and factor decomposition analysis,we evaluate the financial performance of the two companies over the years,and put forward practical suggestions for the company's financial strategy and development.Through the research and analysis,we can get the data of the financial situation of the two companies,and analyze it.Both SIASUN and Kymmene technology,the advantages and disadvantages coexist,industry opportunities and risks,the future can decide the everlasting is forward-looking and machine product strategy technology.In summary,in the financial performance,financial policy and financial strategy comparison,SIASUN's performance against huichuang.SIASUN actively explore new research and development direction,pay attention to their own financial policy and financial strategy,and strive to create a new competitive advantage as soon as possible,to restore the OPM strategy.SIASUN's top priority is to seek new business breakthrough,to create their own new products and profit model.Reasonable suggestions Huichuan increased debt,clear research direction,adjust profit ratio,continue to maintain and deepen OPM strategy.To replace the "HUAWEI" advertised their Huichuan imminent is to be in the original product revenue slowdown led to future revenue gradually peaked before,as soon as possible to find the effective way of new technology commercialization rapidly into actual income,profits and cash,stability and improve financial performance. |
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