五粮液财务报表分析.docxVIP

PAGE PAGE 2 摘要：在经历了白酒行业十多年的迅速发展之后，政府颁布了一系列的限制消费的政策以及军队的禁酒令。白酒行业进入了更深的调整期，白酒的市场环境压力巨大，直到2016年才开始缓慢复苏。在此期间，很多中小型白酒企业因为经营不善陷入了财务危机，大型的白酒企业也存在很多财务问题。这种情况下对上市白酒公司进行财务报表分析是必不可少的，通过综合性地对企业进行分析，帮助管理者认识到企业现状并做出相关的合理决策。 本文首先介绍了上市酒企五粮液财务报表分析的研究背景和研究意义，然后针对这一具体案例，从该公司的简介、经营能力、盈利能力分析等方面出发，对五粮液的财务报表进行了相关分析，找出了问题，最后针对问题提出了相关的建议与对策。 关键词：五粮液； 财务分析； 白酒行业； 对策建议 abstract：After a golden decade of development of the Baijiu industry, the state has issued policies such as restricting the consumption of three public services and banning alcohol by the army. The Baijiu industry has entered a period of in-depth adjustment. The market environment of Baijiu is under great pressure, and it did not start to recover slowly until 2016. During this period, many small and medium-sized Baijiu enterprises fell into financial crisis due to poor management, and large Baijiu enterprises also had many financial problems. In this case, it is essential to analyze the financial statements of listed Baijiu companies. Through comprehensive analysis of the enterprise, managers can help them understand the current situation of the enterprise and make relevant reasonable decisions. This paper first introduces the research background and significance of the financial statement analysis of Wuliangye, a listed liquor enterprise, and then analyzes the financial statements of Wuliangye from the aspects of the companys profile, operation ability and profitability analysis, finds out the problems, and finally puts forward relevant suggestions and Countermeasures for the problems. Key words: Wuliangye， financial analysis， Baijiu industry， countermeasures and suggestions 一、 绪论 （一） 研究背景及研究意义 1、 研究背景 白酒作为世界六大蒸馏酒之一，被誉为我国的国粹，古有杜康传佳话，现有五粮液飘千里。酒文化在中华民族的历史发展长河中以一种特殊的文化形式融入了我国的各个领域[1]。不仅存在于国人的精神生活中，也对国家的经济发展做出了巨大贡献。 但2012年以后国家严查三公消费“限制公务用酒”以及国家禁酒令的推出，白酒产业降低了迅猛发展的趋势， 各大白酒厂商之间的竞争愈发激烈[2]。一些酒企业，小型酿酒厂因为资金问题陷入了财务危机，甚至破产。国酒五粮液也受到了很大的冲击，一夜之间五粮液的股价下降6.73%，市值蒸发142亿元。各种财务问题也相继出现：利润降低，负债增加，现金流短缺。在经历了深度调整期之后，白酒行业开始进入复苏回暖期。2018年，白酒总销量呈上升趋势