年报中无形资产的理解与使用——基于三一重工股份有限公司的研究

The Understanding and Use of Intangible Assets in Annual Reports: A Study Based on SANY Heavy Industry Co.,Ltd.

我国上市公司仅仅依靠成本领先优势而生存的时代已经过去;随着我国融入世界经济发展,国内上市公司越来越看重企业创新能力的培养以及差异化发展。而无形资产科目能够很好地反映企业的创新能力,分析企业的无形资产有助于投资者判断企业的成长空间。为使投资者能够通过无形资产科目的解读和使用从而更好做出决策,本文采用三一重工股份有限公司案例从企业无形资产角度进行分析,争取给投资提供可靠建议。本文将投资性无形资产作为核心分析要点,利用描述统计方法展示了三一集团的无形资产情况所隐含的内在信息。结合三一重工股份有限公司的财务进行财务分析,发现三一重工正实施收缩战略,营业收入和营业利润呈减少趋势。最后得出,若仅仅从无形资产角度考虑分析问题,则投资者对三一股份有限公司应持谨慎态度,不可盲目投资。

The age that China＇s listed companies survive relying solely on cost leadership has passed. With China＇s integration in- to the world economic development, domestic listed companies pay more and more attention to the cultivation of enterprise inno- vation ability and differentiated development. The intangible as- sets account can well reflect the innovation ability of an enter- prise, and it is helpful for the investors to judge the growth space of the enterprise. In order to enable investors to make better de- cisions through the interpretation and use of intangible assets ac- count, this paper analyzes from the perspective of enterprise in- tangible assets based on the case of SANY Heavy Industry Co., Ltd., hoping to provide reliable recommendations for investment. Taking intangible assets as the core of the analysis, this paper uses the method of descriptive statistics to show the intrinsic in- formation implied by the intangible assets of SANY group. Com- bined with the financial affairs of SANY group, this paper carriesout a financial analysis, and finds that SANY group is imple- menting the contraction strategy, with its operating income and operating profit showing a decreasing trend. Finally, the writer comes to the conclusion that if investors consider the issue merely from the perspective of intangible assets, they should be cautious about investing in SANY group.