蒙牛乳业有限公司的财务分析应用问题研究——基于哈佛分析框架.docxVIP

PAGE PAGE 18 摘 要 乳制品行业无疑是当今中国发展最快的食品行业。在近四十年间，乳制品行业发展迅速，历经了三个阶段：两位数快速增长阶段、2000年后市场趋于饱和的稳定发展阶段和三聚氰胺事件后的大洗牌新发展阶段。四十多年来乳品消费量增加近四十倍。虽然中国乳业在四十余年的发展中取得了辉煌成果，但是近十年来乳品行业并不平静，几乎一年一大考的经历让行业不断的大洗牌，存活下来的乳品企业，在发展的过程中仍然充满着挑战。 近两年，乳制品行业形成新的竞争格局，乳制品行业三巨头变成两巨头，曾经的光明乳业落至第二梯队。蒙牛乳业虽然仍然处于第一梯队，但是蒙牛乳业实力迅于伊利也是不争的事实。在市场占有率方面，蒙牛就不如伊利。曾经与蒙牛、伊利同在第一梯队的光明乳业落至第二梯队，也给蒙牛敲响了警钟：如何提高自身竞争力，巩固市场地位甚至做出新的突破成为了蒙牛乳业需要思考的问题。 本文运用哈佛分析框架对蒙牛乳业股份有限公司进行分析，财务数据主要来自于蒙牛乳业2013-2018年的财务报表。在深入了解蒙牛乳业的财务情况后，根据问题对经营管理者提出对策建议,进一步提升企业在市场上的地位和品牌知名度。通过哈佛分析框架在蒙牛乳业有限公司的财务分析中的具体应用，试探究如何进一步改进哈佛分析框架。 关键词：乳业；财务分析；哈佛分析框架；蒙牛 Abstract In China the dairy industry is the fastest growing food industry today. In the past 40 years, the dairy industry has developed rapidly. It has gone through three stages: the double-digit rapid growth stage, the stable development stage after 2000 when the market tends to be saturated and the new development stage after the melamine incident. Dairy consumption has increased nearly forty-fold in the past forty years. Although Chinas dairy industry has made brilliant achievements in the development of more than 40 years, the dairy industry has not been quiet in the past ten years. The experience of almost one years examination has made the industry shuffle constantly. The surviving dairy enterprises are still full of challenges in the process of development. In the past 2 years, the dairy industry has formed a new competitive pattern. The three giants of dairy industry have become two giants, and the once bright dairy industry has fallen to the second echelon. Although Mengniu dairy industry is still in the first echelon, it is also an indisputable fact that Mengniu dairy industry is faster than Yili. Mengniu is inferior to Yili in market share. Once with Mengniu and Yili, the Bright Dairy Industry in the first echelon fell to the second echelon, which also sounded an alarm bell to Mengniu: how to improve its competitiveness, consolidate its market position and even make new breakthroughs has becom