我国煤炭企业并购财务风险与防范

Analysis and Prevention of Financial Risk in China's Coal Enterprises Merger and Acquisition

2012年我国煤炭产业在经历了10余年的高盈利、高发展的"黄金时期"后,市场形势骤然剧变,国内煤炭产能过剩,国外进口量连年增加,库存积压严重。2013年经济形势仍不乐观,我国煤炭行业依旧供大于求,属于买方市场。在当前形势下,企业并购不仅能帮助煤炭企业共御危机,还有利于保障能源供应安全,优化资源的配置整合,从而实现煤炭行业的可持续发展。对煤炭企业并购财务风险的识别与防范进行研究有助于降低并购风险,提高并购的成功率。

China＇s coal industry has experienced 10 years of ＂ golden period＂ with high profitability,high development. After that,the year of 2012,the market situation suddenly upheaved,the domestic coal overcapacity,while foreign imports increased year after year,thus resulted the serious backlog of inventory. In 2013 the economic situation is still not optimistic,China＇s coal industry is still oversupply,are buyer＇s market. In the current situation,the coal mergers and acquisitions will help protect the security of energy supply,optimize the integration of resources,and achieve the sustainable development of the coal industry. Therefore,identification and prevention of financial risk of M A in coal enterprises is helpful to reduce the risk of merger and acquisition,so as to improve the success rate of M A.