A Research On The Financial Performance,Policy And Strategy Of Tsingtao Beer And Yanjing Beer

China's beer industry is one of the fastest growing industries in the past decades.In recent years,although the world beer market has gradually become saturated,China's beer industry has maintained a sustained and stable development,gradually transiting from growth to maturity.In this process,beer industry concentration and brand concentration gradually increased.Mergers and acquisitions became an important means of growth of the beer industry,and the Chinese beer market was dominated by foreign-controlled beer companies.Tsingtao Beer and Yanjing Beer,as the two leading beer companies in China,lead the Chinese beer market and occupy a larger market share.Starting from the whole beer industry,this paper states the development process of the two companies,makes a comparative analysis of their financial performance,financial policy and financial strategy.Then this paper draws a conclusion and puts forward policy recommendations.This article is divided into nine chapters.The first chapter introduces the research theme and research framework.The second chapter describes the current situation and characteristics of the beer industry,and studies the future development trend of the beer industry.The third chapter describes the development process,current situation,problems faced by the two companies,and so on,and analyses and compares the business model,future development strategy,operation situation and capital market performance of the two companies.The fourth chapter analyses Balance Sheet,Income Statement and Cash Flow Statement.The fifth chapter analyses the financial index system of the two companies.The sixth chapter analyses and compares the business models of the two companies.The seventh chapter effectively compares the working capital policy,debt policy,dividend policy and investment policy of the two companies.The eighth chapter effectively compares the financial strategy matrix of the two companies.The nighth chapter,by synthesizing the analysis of the full paper,arrives at the final conclusions and suggestions.Through the analysis of the full text,from the five business models of P-C-V-R-G,Tsingtao Beer is stronger than Yanjing Beer.In terms of financial performance,Tsingtao Beer is significantly better than Yanjing Beer.In the aspect of debt policy,it is suggested that Tsingtao Beer should consider increasing the proportion of liabilities in order to obtain income or achieve growth.It is suggested that Yanjing Beer should adjust its debt structure and increase the proportion of interest-free liabilities.In the aspect of dividend policy,it is suggested to measure cash adequacy and investment opportunities comprehensively,in addition to taking into account such factors as profitability and debt ratio.In the aspect of working capital management,it is suggested to further strengthen"three controls"and strengthen OPM strategy.In the aspect of investment policy,it is suggested to pay attention to the improvement of profitability brought by investment and to improve the profitability of assets and capital.In terms of company strategy,it is suggested to further improve profitability and reduce costs;adjust product structure to increase the proportion of high-end products;enhance brand influence and competitiveness,carry out brand integration and optimize brand strategy;optimize production capacity management,implement merger and acquisition integration strategy;further enter the international market,improve brand awareness in the international market;improve marketing mode and optimize marketing channels.