Financial Analysis Of Yango Group Based On Improved Dupont Analysis System

In 2018,the state carried out in-depth regulation on the real estate industry.With the promulgation of the new policy of "houses are for living,not for speculation",the real estate market has also cooled down.The trend of strong and persistent strength has led to more and more monopolization of resources by large enterprises,more intense competition among large enterprises and more diversified businesses.Under this background,stakeholders need to make accurate and objective analysis and judgment on the financial situation of enterprises.As the first step in the real estate industry in China,Yango Group adopts scientific and reasonable financial analysis methods to analyze the financial situation of Yango Group,which can enable enterprise managers to make reasonable financial and management decisions.The research object of this article is Yango Group,a well-known real estate company,which is financially analyzed by using the improved Du Pont analysis system.On the basis of clarifying the research background,purpose,significance and current research situation at home and abroad,firstly,referring to and consulting the relevant theories and practices at home and abroad,defining the concept of financial analysis,summarizing the basic methods of financial analysis,elaborating the traditional Du Pont analysis system,discovering the limitations of the traditional Du Pont analysis,and then proposing an improved Du Pont analysis system.The main idea is to distinguish between business activities and financial activities,prepare management profit statement and management balance sheet,build a system with sustainable growth rate as the final index,and decompose the sustainable growth rate step by step from top to bottom into the product of net operating interest rate after tax,net operating asset turnover rate,operating difference rate and net financial leverage.Secondly,the improved Du Pont analysis system is applied to analyze the financial situation of Yango Group from 2015 to 2019,and two companies in the same industry(Jinke and Vanke)are selected for comparative analysis.The financial analysis results are obtained from five aspects of sustainable development ability,dividend payment ability,profitability,operation ability and debt paying ability.On this basis,combining ratio analysis method,serial substitution method and trend analysis method,the deficiencies are found.Finally,according to the research results of the improved Du Pont analysis system of Yango Group,it is found thatthere are five problems in its operation,such as unstable sustainable development ability,less shareholder returns,lower profitability,weaker operation ability and greater fluctuation of financial leverage.Combined with its actual development situation,suggestions are put forward to solve the problems so as,attach importance to shareholder returns,enhance profitability,speed up inventory removal and control financial risks.