2509甘肃开放大 财务报表分析4套形考任要做上市公司的财务数据分析 作业一：偿债能力分析 各位同学需要从我们给出的上市公司年报中选择一个，完成下面的四次作业，注意：四次作业都必须是针对一个公司来做的！ 具体可查看我们的答题要求 及评分标准。 选择下面一个上市公司年报：鞍钢股份；格力电器；三一重工；苏宁云商；万科A。 答：《财务报表分析》形考作业一 格力电器偿债能力分析 短期偿债…… 作业二：营运能力分析 择下面一个上市公司年报：鞍钢股份；格力电器；三一重工；苏宁云商；万科A。 请根据您选择的一个上市公司年报，该公司的年报资料并完成对该公司的营运能力分析！！ 作业三：获利能力分析 选择下面一个上市公司年报：鞍钢股份；格力电器；三一重工；苏宁云商；万科A。 请根据您选择的一个上市公司年报，该公司的年报资料并完成对该公司的获利能力分析！ 作业四：财务报表综合分析 该公司的年报资料并完成对该公司的综合能力分析！ 一、短期偿债能力分析 ...

Core Viewpoint - The recent financial report of Gehua Cable (600037) indicates a narrowing loss, with total revenue declining and net profit showing improvement compared to the previous year [1] Financial Performance - Total revenue for the first half of 2025 was 933 million yuan, a decrease of 11.9% year-on-year [1] - The net profit attributable to shareholders was -9.69 million yuan, an improvement of 78.35% year-on-year [1] - In Q2 2025, total revenue was 478 million yuan, down 9.85% year-on-year, with a net profit of -44.04 million yuan, a decline of 24.09% year-on-year [1] Profitability Metrics - Gross margin was 7.49%, a decrease of 9.63% year-on-year [1] - Net margin was -1.04%, an increase of 75.42% year-on-year [1] - Total selling, administrative, and financial expenses amounted to 70.24 million yuan, accounting for 7.53% of revenue, an increase of 706.16% year-on-year [1] Asset and Cash Flow Indicators - Cash and cash equivalents were 7.31 billion yuan, an increase of 3.76% year-on-year [1] - Accounts receivable stood at 543 million yuan, up 5.46% year-on-year [1] - Interest-bearing debt was 822 million yuan, a decrease of 1.00% year-on-year [1] - Earnings per share were -0.01 yuan, an increase of 66.67% year-on-year [1] - Operating cash flow per share was 0.06 yuan, a decrease of 61.00% year-on-year [1] Historical Performance and Investment Returns - The company's historical median ROIC over the past decade is 2.39%, indicating weak investment returns, with the worst year being 2023 at -2.16% [3] - The company has reported losses in 2 out of 24 annual reports since its listing, suggesting a fragile business model [3] Market Expectations - Analysts expect the company's performance in 2025 to reach 91.02 million yuan, with an average earnings per share of 0.07 yuan [4] Fund Holdings - The largest fund holding Gehua Cable is the Jianxin CSI 1000 Index Enhanced A, with 1.2482 million shares newly added to its top holdings [5] - The fund's current scale is 823 million yuan, with a recent net value of 2.0738, reflecting a 73.45% increase over the past year [5]

Core Viewpoint - *ST Zhongdi reported a significant increase in revenue but continued to face losses, indicating challenges in profitability despite higher sales figures [1][3]. Financial Performance - The company achieved total revenue of 13.246 billion yuan in the first half of 2025, a year-on-year increase of 41.3% [1]. - The net profit attributable to shareholders was -1.18 billion yuan, a decline of 20.9% compared to the previous year [1]. - In Q2 2025, total revenue was 1.476 billion yuan, showing a substantial decrease of 74.3% year-on-year [1]. - The gross margin was reported at 0.44%, a significant drop of 91.26% year-on-year [1]. - The net margin stood at -10.56%, a slight decrease of 0.15% year-on-year [1]. Cost and Expenses - Total selling, administrative, and financial expenses amounted to 1.258 billion yuan, accounting for 9.5% of revenue, which is a decrease of 15.25% year-on-year [1]. - The company reported a per-share net asset value of -6.37 yuan, a drastic decline of 544.27% year-on-year [1]. Cash Flow and Debt - The company had cash and cash equivalents of 8.844 billion yuan, reflecting a 9.83% increase year-on-year [1]. - The ratio of cash assets to current liabilities was only 20.72%, indicating potential liquidity concerns [5]. - The interest-bearing debt ratio reached 48.39%, suggesting a high level of leverage [5]. Accounts Receivable and Inventory - Accounts receivable increased significantly to 832 million yuan, a staggering rise of 473.55% year-on-year [1]. - The inventory-to-revenue ratio was reported at 386.46%, indicating potential issues with inventory management [6]. Business Model and Market Position - The company's business model is primarily driven by marketing efforts, necessitating a deeper analysis of the underlying factors influencing this drive [4]. - Historical data indicates a weak return on invested capital (ROIC), with a median of 1.79% over the past decade, and a particularly poor ROIC of -9.81% in 2024 [3].

Core Viewpoint - Financial analysis is a crucial tool for understanding a company's operational status, assessing financial health, and making strategic decisions. An efficient financial analysis template can systematically integrate financial data, quickly uncover the value behind the data, and provide strong decision-making support for management [2]. Financial Analysis Template Design Principles - The design of the template should be goal-oriented, focusing on the specific financial analysis objectives relevant to the company’s stage of development [2]. - Data accuracy and completeness are essential; the template must ensure reliable data sources and cover all key operational data to avoid omissions that could affect conclusions [3]. - The template should be simple and intuitive, utilizing visual aids like charts and graphs to present data clearly, making key financial information easily understandable [3]. - Flexibility and scalability are necessary for the template to adapt to changes in the business environment and strategic adjustments [4]. Core Modules of Financial Analysis Template - The debt repayment ability analysis module assesses the company's capacity to repay debts, which is vital for evaluating financial risk [6]. - The profitability analysis module focuses on key indicators to understand the company's profitability trends and competitive position within the industry [7]. - The operational capability analysis module reflects the efficiency of asset utilization, impacting cash flow and resource use [8]. - The cash flow analysis module emphasizes the liquidity and financial flexibility of the company, assessing its ability to sustain operations [8]. - The cost and expense analysis module examines the structure and details of costs, identifying areas for cost control [10]. Financial Analysis Methods - Trend analysis compares financial data over several accounting periods to observe changes and assess the direction of the company's performance [12]. - Ratio analysis utilizes key financial ratios to evaluate the company's financial status and operational results, facilitating comparisons across different-sized companies [12]. - Structural analysis calculates the proportion of financial indicators to understand internal structural changes [13]. - Comparative analysis benchmarks the company's financial data against industry averages or competitors to identify strengths and weaknesses [14]. Application Points of Financial Analysis Template - Regular updates and maintenance of the financial analysis template are crucial to ensure data accuracy and timeliness [16]. - In-depth analysis should consider the actual business context, linking financial data with market conditions and operational strategies [17]. - Emphasis should be placed on writing clear and concise analysis reports that highlight key issues and provide actionable recommendations for management [18].