基于哈佛分析框架的造纸行业财务分析——以山鹰国际为例

Financial Analysis of Paper Industry Based on Harvard Analysis Framework

目前,造纸业的发展面临环境和能源的双重考验。哈佛分析框架相较于传统的单一财务分析方法,专注于财务数据和非财务信息,使公司财务分析更具前瞻性,增强了各部分的逻辑联系,降低了分析结果的主观性和出现错误的可能性。通过哈佛分析框架,以造纸业中的龙头企业——山鹰国际为研究对象,对其财务报表从战略、会计、财务、前景四个方向进行全面深刻地分析,发现山鹰国际在经营过程中出现了固定资产利用效率不高、偿债能力较弱、生产经营成本高等问题,由此提出了针对性的参考意见,希望山鹰国际以此为参考做出改善,从而引领产业优化产能调度,坚持绿色可持续发展道路,承担相应的社会责任,持续夯实山鹰国际龙头企业的地位。

The rise of the paper industry comes at a time when the environment and energy are being tested.Com⁃pared with the traditional single financial analysis method,the Harvard analysis framework focuses on financial data and non-financial information,which makes the company’s financial analysis more forward-looking,enhances the logical connection of the various parts of the analysis,and greatly reduces the subjectivity of the analysis results and the possibility of errors.Based on the Harvard analysis framework,this paper takes Shanying International,a leading enterprise in the paper industry,as the research object,and conducts a comprehensive and profound analysis of its financial statements from four directions of strategy,accounting,finance and prospect,and finds out that the prob⁃lems of inefficient use of fixed assets,weak solvency,high production and operation costs occurred in Shanying In⁃ternational’s operation process,and put forward corresponding improvement suggestions according to the existing problems.It is hoped that Shanying International will make improvements based on this paper,so as to lead the in⁃dustry to optimize production capacity scheduling,adhere to the path of green and sustainable development,under⁃take corresponding social responsibilities,and continue to consolidate the status of Shanying International's leading enterprise.