海尔vs西门子财务报表分析报告英文版.docx
- 文档编号:25874416
- 上传时间:2023-06-16
- 格式:DOCX
- 页数:10
- 大小:20.16KB
海尔vs西门子财务报表分析报告英文版.docx
《海尔vs西门子财务报表分析报告英文版.docx》由会员分享,可在线阅读,更多相关《海尔vs西门子财务报表分析报告英文版.docx(10页珍藏版)》请在冰豆网上搜索。
海尔vs西门子财务报表分析报告英文版
TheFinancialDataAnalysis
——HaierVSSiemens
CONTENTS
1.Preface
2.CompanyIntroduction
3.Overviewoftheannualreport
4.Thebusinessenvironment
5.Theauditors
6.Analysisofthecompanies’financialstatements
1)Assetsandliabilitiescomparisonanalysis
2)Debt-repayingabilityanalysis
3)Operatingcapacityanalysis
4)Profitabilityanalysis
5)Returnoninvestment
6)Growth
7)Cashflow
①Cashsolvency
②Cashearningfromsales
③Cashearningfrominvestment
7.Coda
8.References
TheFinancialDataAnalysis
1.Outline
Sincetheoperatingenvironmentsforeconomicentitiesaredynamic,accountingmustalsostaycurrentwithchangingenvironments.Onlythencanitpossiblyretainitsrelevanceandreliabilityforeconomicdecision-making.Internationalaccountingisindirectresponsetotheglobalizationphenomenon.Inordertobetterunderstandinternationalaccounting,ourgroupchosetwocompanies---Siemens&Haier.Wecompareandanalysistheannualfinancialreports.
2.CompanyIntroduction
1)Siemens:
SiemensCompanyiscreatedbyNashvilleVonSiemensin1847anditheadquartersinMunich,Germany.SiemensCompanyhasbeen160years.Itiscurrentlyoneoftheworld'slargestelectriccompanies,andinEurope,rankingsecond.In190countriesitsetupenterprises,anditsemployeesareabout44million.Siemenshasmorethan900,000shareholders,andistheworld'slargestoneofthelistedcompanies.FromMarch2001,SiemenssharesontheNewYorkstockexchange(NYSE)listedfortrading.Siemensglobalbusinessoperationrespectivelyby13businessgroupsisresponsible,includingSiemensfinancialserviceCo.,LTDandSiemensrealestateassetsmanagementgroup.
Itsmainbusinessscope:
Information&communications,automation&control,power,transportation,medicalsystem&lightingandsoon.WecangototolearnmoreaboutSiemensCompany.
2)HaierCompany:
Asweallknow,HaierCompanyheadquartersinQingdaoofourcountry.HaieristheleadingbrandofwhitegoodsgloballyandthemostvaluablebrandinChina.Withits29manufacturingplants,8comprehensiveR&Dcenters,19overseastradingcompaniesacrosstheworldandmorethan60,000globalemployees,Haierhasinvolvedintoagiantmultinationalcorporation.
Asofthisyear,Haierasestablished61tradingcompanies(19outsideofChina),8designcenters(5outsideofChina),29manufacturingfacilities(24outsideofChina)and16industrialparks(4outsideofChina).Inaddition,thecompanymaintains58,800salesoutletsinover160countries.Haierisachievingitsgoalofbuildingaglobalbrandusingthe"Three-in-One"localizationstrategy.Haieremploysmorethan50,000peoplearoundtheworld,andhascreated10,000jobsoutsideofthePRC.WecangototolearnmoreaboutHaierCompany.
3.Overviewoftheannualreport
Typically,wecanfindsixdifferentsectionsintheannualreports:
1)FinancialHighlights;2)CompanyandProducts;3)ManagementDiscussionandAnalysis;4)FinancialStatementsandFootnotes;5)StatementofManagementResponsibilityandtheReportoftheIndependentAccountants;6)BasicCompanyFacts.Andtherearesomeobvioussubstantialdeviationsinourcompanies’annualreportfromthesixsections.Thetwocompanieshavesomesamekindsofproductsbuttheyhavemoredifferentkinds,andtheircoverageoftheproductsisalsoobviouslydifferent.Thedifferentindustryenvironmentandthedifferentgovernment'spolicymakedifferentmanagementdiscussions.Andsoon..
From,wecanknowthatHaieriswell-establishednearlythreeyears.AndSiemensisnotaswellasHaieronthebasicofthedata.
4.Thebusinessenvironment
Thebusinessenvironmentinwhichthecompanyisoperatingisimportant.Andthebusinessenvironmententailseconomic,legalandsocio-politicalfactors.Understandinghowthesefactorsinfluencethecompany'soperationsandbusinessstrategywillenableustohavearicherbasisforinterpretingitsfinancialpicture.
Haier'sdevelopmentconformsthemacroeconomicreformanddevelopment,hasheldtheadvantageousdevelopmentopportunity,1993,fortherapiddevelopmentofmarketsuccessfullysolvedthesorrow,raisingcapitalbeforeChinaenterstheWTO,willstrategicshiftingtointernationalmarket;Secondly,Haierislocatedintherapideconomicdevelopment,hasaprofoundtraditionalculture,especiallyintheShandongprovinceislocatedinthefamousenterpriseknownbreedsofQingdaocity,convenienttransportation,besidestheHaiergroup,thereareQingdaoHisense,Qingdaobinaries,AoKeMa,Qingdaobeer,domesticfamousenterprises.Visible,Qingdaoinvariousaspectshavetolettherapiddevelopmentofenterpriseexcellentenvironment.Therefore,intheexternalenvironment,Haierhastheadvantageofsharing.
AndHaiergrouphavebeenproposed"fromamanufacturingintoservice"slogan.“Haierservice”isneitherpureservice,alsoisnotmerelyproducts,butserviceandproductsofintegration.HaiergroupinLosAngeles,Amsterdam,Tokyo,Lyon,Montrealandsiliconvalleyestablishedoverseasdesigndivision,helpheadquartersspeciallydevelopedforlocalsconsumptionofelectricalappliancesproduct,HaierhasbatchproductionsuitableforEurope,America,Asiadifferentconsumerneedsdifferentfunctionofelectricalappliancesproduct,thusrapidlyimprovethecompetitivenessoftheenterprises.
WithChina'shouseholdelectricalapplianceenterprisecontinuouslyrise,technicalimprovement,Haiermustconstantlyimprovescienceandtechnologyinnovationlevel,andimprovetheiradvantage.Alsoshouldtowardsmulti-industrydevelopmentdirection,inordertoimprovetheircompetitiveness.FacingHaier'sinformatization,domesticpeersaboutiswatchinghaierexternalinformatizationlively,whiletighteningtheirinternalinformatization,thisisHaierfacedthethreat.
AlongwiththedevelopmentofHaier,Haierbeganbydomesticbegantointernationalconsequencesofmarch,somanyismakeoverseasenterprisessuchasSONY,Panasonic,Samsung,LG,Siemens,andsoonbecameHaierrivals.Makeitdevelopinternationalmarketbysomeobstacles.
Siemens,asatransnationalenterprise,hasitsownadvantagesbutalsofacethesimilarthreats.
5.Theauditors
Inourcapitalmarkets,publicaccountingfirmsperformanimportantaudit(attest)functiontoprovideconfidenceintheintegrityofthosestatements.Wereadthecompanies’auditreporttolearnmoreaboutwhatishappeninginthepublicaccountingprofession.
Forexamplewiththe2020auditreportsofthetwocompanies,wecanunderstandtheimportanceoftheauditforaccountingwork..Throughtheauditwork,canrestricteconomicactivitiesinvariousnegativefactorscanimprovetheeconomicmanagementlevelandeconomicbenefit,andtopromotethesocialandeconomicorderofhealthy.
6.Analysisofthecompanies’financialstatements
1)Assetsandliabilitiescomparisonanalysis—comparisonofstructurepercentage
Haier(¥:
Yuan)
Siemens(inmillionsof€)
2009
2008
2007
2009
2008
2007
Totalassets
17,497,152,
12,230,597,
11,188,965,
94,926
94,463
91,555
Percentage(%)
100%
100%
100%
100%
100%
100%
Totalliabilities
8,698,036,
4,444,539,
4,043,222,
37,005
42,451
43,894
Percentage(%)
%
%
%
%
%
%
Totalequity
8,752,239,
7,701,057,
7,056,129,
27,287
27,380
29,627
Percentage(%)
%
%
%
%
%
%
WecanseethatHaier’sdebtstructureisrisingyearbyyear,asSiemensisdropping.Buttheyallkeepinacertainrange.Andtherangeisreasonable.Thecompaniesusethefinancialleverageeffectivelyandalsoavoidtherisksbecauseoflotsofliabilities.
2)Debt-repayingabilityanalysis
Haier(¥:
Yuan)
2007
2008
2009
Currentassets
7,790,863,
7,863,333,
12,895,061,
Currentliabilities
4,043,222,
4,444,539,
8,698,036,
Currentratio
Siemens(inmillionsof€)
2007
2008
2009
Currentassets
47,932
43,242
44,129
Currentliabilities
43,894
42,451
37,005
Currentratio
ThecalculationshowsthatinHaierCompanyevery1YuancurrentliabilitieshaveYuanliquiditysupportin2007.Butthenexttwoyearstheindexdrops.ThisshowsHaier’sdebtsecuritylevelhasdecreased.TheindexofSiemensisgoingup,itsdebtsecuritylevelisimproved.
3)Operatingcapacityanalysis
Haier
Siemens
2008
2009
2008
2009
totalassetsturnover
inventoryturnover
Totalassetturnoverreflectsenterpriseassettocreatesalesrevenueability.Thetwocompanies’totalassetsturnoverdecreasesinasmallrange.AndHaier’ssalesrevenueabilityisbetterthanSiemensfromthedata.However,twoofthemhavegoodassetmanagementefficiency.
Fromthedata,Haier’sindexofinventoryturnoverisalittlehigh.Comparedwith2020,theindexin2020hasdecreased.Anyway,theinventoryliquidationabilityofHaierisstrong;theleveltotakefundislow.AndSiemensisnotasgoodasHaier,butitsabilityismorestable.
4)Profitabilityanalysis
Haier(¥:
Yuan)
Siemens(inmillionsof€)
2007
2008
2009
2007
2008
2009
costofgoodssoldratio
operatingincomeratio
netprofitratio
Thetwocompanies’costofgoodssoldratioislow.Thisshowstwoofthemhaveahighleveloncostcontrol.Andtheoperatingincomeratioofthemkeepsastablelevel.Salesnetinterestrateperunitreflectstheenterprisesalesincomegainedintheamountofthenet.Siemens’netprofitratiohasamodestincrease,whileHaierstaythesameonthewhole.Allaboveindicatebothofthemkeepastableprofitabilitythroughthedailybusinessactivi
- 配套讲稿:
如PPT文件的首页显示word图标,表示该PPT已包含配套word讲稿。双击word图标可打开word文档。
- 特殊限制:
部分文档作品中含有的国旗、国徽等图片,仅作为作品整体效果示例展示,禁止商用。设计者仅对作品中独创性部分享有著作权。
- 关 键 词:
- 海尔 vs 西门子 财务报表 分析 报告 英文