Comprehensive Evaluation Of Financial Performance Of Listed Companies In Power Generation

As the basic and leading industries of the national economy,the electric power industry is closely related to the development of the national economy and the lives of the people.The sustainable development of the electric power industry provides an important basic guarantee for the national economy.June13,2014,The sixth meeting of the Central leading Group on Finance and Finance.In an important speech,General Secretary Xi Jinping stressed that "China should promote the energy consumption revolution,the energy supply revolution,the energy technology revolution,the energy system revolution,and strengthen international cooperation in all aspects to achieve energy security under open conditions." The new energy security strategy of "four revolutions and one cooperation" has become the fundamental compliance of China's energy reform and development.Following,the development theory of energy with Chinese characteristics has achieved a major leap forward.This year marks the fifth anniversary of the new energy security strategy.In the past five years,the energy system has in-depth implemented the new energy security strategy,advanced in depth the "four revolutions,one cooperation," and in-depth pushed forward the development of energy to achieve changes in quality and efficiency.Dynamic change.The energy industry is heading for a higher quality,more efficient,fairer and more sustainable direction.At present,the system of electric power industry has been changed from monopoly planned economy to flexible market economy.Plant separation,bidding online,direct purchase of electricity and other phenomena,so that the original pattern of the electricity market has been broken.The upstream power generation enterprise belongs to the capital intensive enterprise,the capital total amount is large,the debt ratio is high,how to carry on the reasonable investment and the financing,how to obtain the electricity price advantage in "bidding on the net" becomes the important problem of the power generation enterprise.Therefore,it is necessary to find out the deficiencies in the management of enterprises through evaluation,and then improve them.Based on the above background,through reading a large number of relevant domestic and foreign literature and research results,this paper summarizes the research status at home and abroad.On this basis,the research ideas and basic framework of this paper are constructed.Firstly,the development and competition status of power generation listed companies in China are analyzed in detail.Then,according to the public information of Shanghai and Shenzhen stock markets,11 financial indexes are selected to reflect the solvency,operating ability,profitability and growth ability of enterprises,and the listed companies in the industry are graded by factor analysis and cluster analysis.Sort,categorize,and get intuitive results of their performance evaluation to help the industry A listed company clearly recognizes their own positioning,explore their strengths and weaknesses.Finally,according to the score,this paper puts forward some reasonable and operational suggestions for the development of power generation listed companies from four aspects: asset use,cost and expense management,profit model and capital structure.