| In recent years,the focus of the national economy is to adjust the economic structure and change the mode of economic growth,so as to promote the sustainable development of the national economy.The central economic work conference clearly pointed out that it is necessary to vigorously develop strategic emerging industries,while the lithium battery industry is one of the strategic emerging industries that the central economic work conference has clearly pointed out.With the national energy conservation and new energy automotive industry development plan(2012-2020),"made in China 2025" and other national strategic planning and measures have been introduced,the lithium battery industry hasmet the rapid development opportunities.Sichuan Tianqi lithium industry Co.,Ltd.(Tianqi lithium industry as abbreviation below,stock code:002466)and Jiangxi Ganfeng lithiumindustry Co.,Ltd.(Ganfeng lithium industry as abbreviation below,stock code:002460)-the two most leading company focusing on lithiumindustry are chosen as the research object in this paper.The paper analyzes their financial performance respectively to acknowledge their financial strategy.Proposal and recommendation on their financial Strategy will be proposed by conducting financial Strategy Matrix Analysis at the end of paper.The paper is divided into eight chapters,the first chapter describes the theme and significance ofthis study,research ideas and framework.The second chapter describes the development status of nonferrous metal industry and lithium battery industry,the policy environment and development trend faced by lithium battery industry.The third chapter introduces the basic situation of Tianqi lithium industry and GanFeng lithium industry.The fourth chapter analyzes the two company's income statement,balance sheet and cash flow by using the financial "three-dimensional analysis";The fifth chapter is financial index system analysis;The sixthchapter analyzes and compares the development strategies of two companies in terms of revenue,risk,growth and value creation respectively.The seventh chapter evaluates the financial policies from four aspects:capital structure,dviends,working capital management and investment policy management.The eighth chapter uses the financial strategy matrix analysis of the two companies,and put forward financialpolicy suggestions.Through the comparative analysisof financial performance,financial policy and financial strategy about Tianqi lithium industryand Ganfeng lithium industry,we can makesuch conclusions:since 2011,Tianqi lithium industry and Ganfeng lithium industry haveexperienced rapid development,a leapfrog growthespecially from 2014 to 2016.Overall,Tianqi lithium industry hasbetter performance and stronger growth momentum than the Ganfeng lithium industry.As far as the trend is concerned,in the next 3-5 years,Tianqi lithium industry will continue to maintain strong growth momentum,and holds the leading position.Finally,this paper gives financial strategy recommendations for Tianqi lithium industry and GanFeng lithium industry,hoping to help enterprises to establish their own suitable financial strategy. |
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