1、拔Zhuhai 扒gree愛 electr澳ic appl罷iances 敗co., LT罷D., fin岸ancial 百analysi吧s repor澳t瓣Abstrac敗t: ente熬rprise般s finan斑cial st唉atement白s to re拌flect t佰he ente皚rprise 辦in a ce昂rtain p柏eriod o柏f the f罷inancia捌l posit瓣ion, op叭erating拔 result拜s and c爸ash flo白w condi暗tions. 伴Correct傲 unders壩tanding拜 敖and ana板lys

2、is o靶f finan癌cial st半atement骯s infor礙mation 爸will he敗lp the 俺enterpr胺ise man隘agement背 compre伴hensive傲 unders氨tanding稗 accura巴tely in吧 the pa扒st, eva隘luate a疤nd pred凹ict the傲 future阿 now. T壩his pap奧er choo藹se the 把gree叭 electr把ic appl藹iances 絆in 2013唉-2015 f靶inancia骯l state半ments o板f liste吧d compa般ni

3、es as鞍 the re版search 氨object,搬 this p凹aper in笆troduce氨s the t鞍heory a班nd meth骯od of f拜inancia笆l state八ment an把alysis,扳 the ge辦neral, 隘mainly 八using r絆atio an澳alysis 艾method 敖and the巴 method辦 of com挨parativ耙e analy柏sis, an氨alyze t癌he 氨gree吧 electr八ic comp哀any in 挨recent 皚year啊s, fina吧ncial s笆ituatio辦

4、n and e邦valuati哀on.艾Keyword佰s: 吧gree吧 electr霸ic appl皚iances 般ratio a傲nalysis隘 and co捌mpariso搬n analy伴sis of 柏financi藹al stat絆ements HYPERLINK /translate 皚Basic i敗nformat凹ion com爸pany pr奧ofile:頒1. The 啊company邦s basi邦c 芭informa絆tion背(1) 藹the跋 legal 版name of霸 the co柏mpany: 拜zhuhai吧 八gree拔 electr頒ic ap

5、pl柏iances 罷co., LT絆D八(2) 愛the俺 compan拔ys leg案al repr安esentat板ive: do案ng 捌mingzhu笆(3) 邦the百 compan吧ys reg吧istered辦 addres拌s: 百guangdo矮ng吧 provin辦ce 霸zhuhai耙 former扒 golden癌 hill r霸oad耙(4) 敗the俺 compan哀ys sto疤ck exc叭hange: 埃shenzhe敗n啊 A shar藹es哎(5) 矮stock斑 abbrev耙iation:懊 爸gree拜 electr跋ic appl爸iances頒

6、(6) 拌stock皚 code: 佰000651愛2. The 吧company鞍s hist班ory唉Zhuhai 昂gree八 electr懊ic appl絆iances 岸co., LT壩D. (her伴einafte巴r refer稗red to 扳as 安gree矮 electr艾ic appl胺iances)笆, estab搬lished 挨in 1991扳, is by百 the 半zhuhai哀 crown 霸male pl艾astic c頒o., LTD叭., a me哎rger wi百th 癌hayley罷 air-co岸ndition唉er fact襖ory. Wi熬t

7、h many邦, many 扳in the 半world l艾ike HP,氨 SONY s奧uch fam按ous com罷pany at翱 the be百ginning盎 of the捌 ventur埃e, 熬gree伴 electr胺ic appl埃iances 板is init暗ially i埃n a sha癌bby wor挨kshop, 艾rely on扒 200000拔 隘yuan柏 loa版ns made拔 it the辦 first 扒step in礙 the bu白siness.捌In 1994俺 approv稗ed by t癌he 癌zhuhai班 munici爸pal c

8、om癌mission鞍 for re按structu百ring th壩e renam靶ed 靶zhuhai扳 哀gree凹 electr澳ic appl懊iances 壩co., LT哀D., Nov安ember 1阿8, 1996盎, the C靶hina se奧curitie笆s regul稗atory c哀ommissi隘on regu癌latory 叭send wo按rd (199隘6按) 1996 扳HaoWen八 approv奧al list昂ed on t愛he 靶shenzhe笆n百 stock 骯exchang哎e, the 鞍company把 get th笆e busin骯

9、ess lic鞍ense of愛 enterp敖rise le靶gal per隘son, 44耙00, 440擺0.八3. The 癌company背s main暗 busine癌ss is i半ntroduc澳ed扒Goods a胺nd tech擺nology 跋import 隘and exp啊ort.把Manufac拔turing,壩 sales:背 compre澳ssor哀 pump v板alve an佰d simil辦ar mach懊inery.按Fan pac唉kaging 擺equipme爸nt and 百other g辦eneral 邦equipme挨nt, mot奧or, tr

10、a靶nsmissi案on and 邦distrib敖ution a鞍nd cont昂rol equ白ipment,壩 wires,佰 cables稗, cable巴s and e叭lectric骯al equi擺pment, 皚househo絆ld elec背trical 頒applian稗ces.懊Wholesa艾le: mec背hanical襖 equip昂ment, 盎wujinji版aodian般, elect俺ronic p昂roducts阿.熬Product案ion and岸 sales 扮of air 班conditi巴oner, s礙elf-sup埃porting白 expor

11、t捌 busine擺ss of a罷ir cond傲itioner暗 and it班s relat佰ed spar吧e parts愛 import皚 and ex版port bu岸siness. HYPERLINK /translate 扳4敖Nearly 班three y背ears of敖 a comp敗anys f拌inancia八l state俺ments -捌- the b唉alance 罷sheet礙Financi唉al indi辦cators 霸(ten th笆ousand 襖yuan藹)斑The tot把al asse擺ts of骯The tot靶al amou版nt of l哎

12、iabilit靶ies版Current霸 liabil氨ities案Long-te胺rm liab柏ilities辦Monetar靶y fund俺Account阿s recei哀vable耙Other r邦eceivab跋les熬Provisi愛on for 靶bad deb矮t吧Shareho矮lders 稗equity HYPERLINK /translate 啊2015-9-跋30霸2014-9-澳30阿2013-9-案30翱Financi稗al indi吧cators 盎(ten th翱ousand 癌yuan盎)百The tot疤al asse安ts of澳The tot吧al am

13、ou埃nt of l礙iabilit懊ies百Current壩 liabil澳ities捌Long-te癌rm 愛liabili扒ties奧Monetar鞍y fund捌Account癌s recei白vable壩Other r把eceivab班les岸Provisi背on for 哎bad deb奧t白Shareho般lders 岸equity HYPERLINK /translate 傲17靶，班029百，白100.00佰15氨，佰950扮，跋400.00擺12敖，艾948唉，把600.00霸Financi絆al indi伴cators 頒(ten th伴ousand 藹yuan礙)靶Th

14、e 跋total a骯ssets o傲f拜The tot愛al amou熬nt of l胺iabilit拌ies敗Current靶 liabil按ities白Long-te背rm liab辦ilities柏Monetar拔y fund爸Account骯s recei扮vable頒Other r敖eceivab捌les柏Provisi胺on for 捌bad deb擺t敖Shareho板lders 拌equity HYPERLINK /translate 骯12埃，擺433瓣，傲400.00靶11爸，班873阿，扒100.00捌9敖，邦730挨，敖640.00絆Financi安al indi疤c

15、ators 捌(ten th擺ousand 傲yuan襖)愛The tot胺al asse把ts of耙The tot矮al amou頒nt of l澳iabilit哎ies案Current捌 liabil跋ities爸Long-te般rm liab傲ilities伴Monetar埃y fund巴Account氨s recei白vable柏Other r氨eceivab扮les叭Provisi熬on for 奧bad deb骯t板Shareho哀lders 暗equity HYPERLINK /translate 懊12矮，昂391奧，絆100.00埃11暗，板603懊，骯100.00版9啊，

16、哎586罷，礙890.00埃Financi叭al indi熬cators 斑(ten th吧ousand 拔yuan佰)昂The tot邦al asse暗ts of爸The tot佰al amou絆nt of l拌iabilit拜ies哎Current跋 liabil辦ities挨Long-te耙rm liab敗ilities岸Monetar邦y fund跋Account敖s recei傲vable愛Other r懊eceivab哎les白Provisi艾on for 俺bad deb襖t班Shareho白lders 懊equity HYPERLINK /translate 背-芭-百-傲Fi

17、nanci爸al indi搬cators 盎(ten th礙ousand 瓣yuan熬)拔The tot藹al asse芭ts of翱The tot案al amou把nt of l拔iabilit哀ies案Current拜 liabil般ities稗Long-te懊rm liab癌ilities靶Monetar懊y fund皚Account跋s recei皚vable八Other r氨eceivab把les藹Provisi辦on for 板bad deb哎t白Shareho翱lders 凹equity HYPERLINK /translate 半8佰，澳403壩，版850.00扳5皚，頒829

18、瓣，矮100.00伴4跋，骯421頒，把510.00敗Financi唉al 盎indicat瓣ors (te瓣n thous阿and 扮yuan叭)鞍The tot哎al asse擺ts of澳The tot藹al amou百nt of l哎iabilit伴ies白Current伴 liabil岸ities頒Long-te矮rm liab辦ilities扒Monetar敖y fund佰Account叭s recei壩vable捌Other r敗eceivab背les艾Provisi半on for 拌bad deb拜t皚Shareho唉lders 敖equity HYPERLINK /trans

19、late 敖298澳，傲335.00擺251版，搬557.00氨38敗，爸175.60把Financi半al indi凹cators 熬(ten th邦ousand 艾yuan版)霸The tot斑al asse壩ts of靶The tot懊al amou案nt of l笆iabilit笆ies按Current背 liabil哀ities絆Long-te胺rm liab案ilities凹Monetar伴y fund頒Account凹s recei挨vable矮Other r盎eceivab芭les佰Provisi白on for藹 bad de按bt跋Shareho耙lders 懊equity

20、HYPERLINK /translate 藹39熬，阿079.40骯44胺，扳176.50疤38柏，凹175.60捌Financi版al indi佰cators 拜(ten th阿ousand 藹yuan巴)按The tot芭al asse翱ts of扒The tot埃al amou瓣nt of l斑iabilit辦ies叭Current胺 liabil捌ities扳Long-te八rm liab八ilities頒Monetar斑y fund哎Account啊s recei班vable芭Other r藹eceivab耙les霸Provisi巴on for 罷bad deb啊t佰Shareho稗

21、lders 扒equity HYPERLINK /translate 懊-巴-襖-斑Financi罷al indi隘cators 岸(ten th案ousand 壩yuan敖)壩The tot凹al asse哀ts of愛The tot搬al amou班nt of l背iabilit凹ies暗Current稗 liabil百ities爸Long-te敗rm liab安ilities凹Monetar暗y fund拔Account芭s recei伴vable懊Other r艾eceivab翱les百Provisi埃on for 敗bad deb按t扮Shareho隘lders 癌equity HY

22、PERLINK /translate 安4矮，爸595吧，八680.00啊4藹，扒077岸，絆260.00啊12稗，捌948敗，板600.00拔5 the c霸ompany芭 nearly板 three 絆years f澳inancia搬l state辦ments, 疤the inc昂ome sta板tement翱Financi胺al indi皚cators 擺(ten th搬ousand 安yuan扒)岸Main bu靶siness 搬income皚Main bu霸siness 壩profit骯Cost of版 sales耙Managem白ent fee胺s暗Finance隘 charge岸

23、s八Operati哀ng prof跋it板Return 背on inve柏stment百Subsidi芭es inco班me按Net 罷non-ope罷rating 壩income搬Profit 岸total翱Income 拌tax把Net pro哀fit HYPERLINK /translate 柏2015-9-艾30頒2014-9-唉30昂2013-9-拔30氨Financi藹al indi愛cators 擺(ten th班ousand 把yuan隘)扮Main bu佰siness 跋income阿Main bu胺siness 矮profit奧Cost of癌 sales扮Managem凹

24、ent 拔fees邦Finance邦 charge壩s叭Operati把ng prof般it疤Return 骯on inve熬stment疤Subsidi埃es inco罷me熬Net non絆-operat安ing inc吧ome按Profit 搬total佰Income 背tax吧Net pro疤fit HYPERLINK /translate 爸8熬，叭152哀，芭290.00拔9隘，絆841敖，耙010.00凹8靶，安781隘，敖080.00疤Financi拔al indi頒cators 凹(ten th骯ousand 啊yuan盎)翱Main bu鞍siness 疤income壩Ma

25、in bu骯siness 拌profit愛Cost of案 sales凹Managem把ent fee拔s扮Finance吧 charge藹s搬Operati俺ng prof凹it拔Return 辦on inve敗stment鞍Subsidi芭es inco捌me埃Net non敖-operat啊ing inc盎ome按Profit 扒total翱Income 白tax半Net pro白fit HYPERLINK /translate 伴-八-骯-背Financi阿al indi爸cators 百(ten th骯ousand 拜yuan背)皚Main bu扳siness 佰income背Mai

26、n bu澳siness 哀profit扒Cost of拜 sales背Managem拌ent fee靶s背Finance哀 charge唉s辦Operati拌ng prof挨it伴Return 搬on inve把stment霸Subsidi安es inco扮me埃Net 敖non-ope靶rating 隘income哎Profit 按total俺Income 懊tax芭Net pro拌fit HYPERLINK /translate 胺1伴，叭337澳，捌340.00斑2氨，扒015扒，拔320.00昂1澳，般482半，斑540.00皚Financi皚al indi頒cators 皚(ten

27、th敖ousand 板yuan辦)拌Main bu隘siness 笆income辦Main bu皚siness 捌profit懊Cost of笆 sales皚Managem罷ent fee礙s八Finance靶 charge把s罷Operati邦ng prof八it懊Return 昂on inve挨stment板Subsidi奧es inco白me柏Net non拌-operat拜ing inc俺ome隘Profit 案total矮Income 哀tax熬Net pro挨fit HYPERLINK /translate 昂359瓣，熬708.00扒373班，阿901.00拜345絆，八258.

28、00扮Financi傲al 稗indicat頒ors (te安n thous頒and 藹yuan壩)八Main bu哎siness 白income皚Main bu傲siness 霸profit罷Cost of骯 sales暗Managem隘ent fee百s唉Finance按 charge俺s按Operati挨ng prof笆it安Return 靶on inve安stment疤Subsidi板es inco絆me斑Net non伴-operat捌ing inc斑ome翱Profit 佰total哎Income 八tax版Net pro伴fit HYPERLINK /translate 唉-13

29、9襖，案376.00絆-69百，叭308.00啊-13490.般20跋Financi拔al indi笆cators 佰(ten 岸thousan骯d 哀yuan凹)耙Main bu邦siness 班income瓣Main bu鞍siness 隘profit吧Cost of搬 sales扒Managem隘ent fee敗s胺Finance拔 charge骯s盎Operati矮ng prof愛it爸Return 辦on inve凹stment笆Subsidi疤es芭 income把Net non氨-operat敗ing inc暗ome按Profit 稗total佰Income 吧tax氨Net p

30、ro襖fit HYPERLINK /translate 佰1奧，巴147拔，礙750.00敗1巴，拔171熬，白380.00隘Financi伴al indi哎cators 懊(ten th八ousand 捌yuan八)拔Main bu翱siness 半income暗Main bu矮siness 拌profit熬Cost of澳 sales骯Managem邦ent fee奧s俺Finance岸 charge挨s皚Operati皚ng prof懊it靶Return 柏on inve傲stment霸Subsidi跋es inco柏me斑Net non扮-operat皚ing inc跋ome稗Prof

31、it 邦total稗Income 安tax板Net pro巴fit HYPERLINK /translate 唉-375.20凹-1053.5巴7扳-148.28哎Financi柏al indi骯cators 哎(ten藹 thousa昂nd 阿yuan骯)笆Main bu案siness 八income澳Main bu熬siness 癌profit敖Cost of阿 sales凹Managem捌ent fee骯s班Finance邦 charge擺s芭Operati捌ng prof俺it氨Return 氨on inve跋stment鞍Subsidi愛es inco敗me稗Net non岸-ope

32、rat哀ing inc罷ome翱Profit 翱total霸Income 扒tax辦Net pro胺fit HYPERLINK /translate 笆-巴-靶-疤Financi氨al indi敗cators 拜(ten th襖ousand 版yuan岸)把Main bu安siness 跋income斑Main bu吧siness 般profit霸Cost of頒 sales扒Managem癌ent fee芭s皚Finance敖 charge骯s癌Operati阿ng prof頒it絆Return 耙on inve罷stment唉Subsidi扳es inco搬me壩Net 按non-ope芭

33、rating 稗income跋Profit 鞍total懊Income 鞍tax八Net pro芭fit HYPERLINK /translate 把62891.4耙2懊11354捌，澳26靶39803.0岸1氨Financi氨al indi芭cators 愛(ten th隘ousand 般yuan八)板Main bu奧siness 叭income藹Main bu皚siness 案profit擺Cost of俺 sales扳Managem艾ent fee拜s艾Finance岸 charge熬s岸Operati哎ng prof霸it拜Return 埃on inve罷stment襖Subsidi扒

34、es inco佰me埃Net non襖-operat爸ing inc八ome邦Profit 懊total扮Income 霸tax暗Net pro昂fit HYPERLINK /translate 拌1擺，稗195矮，埃080.00頒1扮，骯193盎，凹070.00哎925壩，案042.00捌Financi懊al 奧indicat吧ors (te伴n 稗thousan版d 澳yuan啊)昂Main bu阿siness 阿income皚Main bu柏siness 把profit敗Cost of斑 sales吧Managem暗ent fee癌s阿Finance俺 charge癌s熬Operati盎

35、ng prof板it芭Return 白on inve骯stment癌Subsidi耙es inco般me拔Net non襖-operat把ing inc拌ome鞍Profit 巴total翱Income 擺tax扳Net pro拌fit HYPERLINK /translate 拜192癌，巴765.00霸202胺，襖543.00矮161吧，按330.00啊Financi懊al indi拜cators 辦(ten th矮ousand 挨yuan佰)鞍Main bu八siness 澳income耙Main bu絆siness 擺profit伴Cost of翱 sales案Managem啊ent

36、fee傲s巴Finance俺 charge笆s把Operati板ng prof翱it伴Return 罷on inve胺stment皚Subsidi瓣es癌 income百Net non半-operat澳ing 罷income哎Profit 扮total霸Income 稗tax艾Net pro耙fit HYPERLINK /translate 愛1隘，隘002佰，疤310.00百990瓣，頒528.00岸763邦，頒712.00搬Financi疤al rati般o analy案sis:把1. The 哎managem般ent and百 develo叭pment c笆apacity稗 analys

37、擺is般2. 絆Profita瓣bility 把analysi班s敖3. The 板long-te傲rm solv拌ency an挨alysis邦Short-t靶erm deb把t payin柏g abili扳ty anal壩ysis胺Ratio p百roject 凹(%)愛Invento敖ry turn巴over笆Account皚s recei爸vable t笆urnover澳Total a吧sset tu拌rnover伴Main bu阿siness 岸revenue笆 growth凹Operati壩ng prof頒it grow叭th搬After-t白ax prof翱it爸 growth奧

38、Growth 懊rate of爸 net as鞍sets辦Growth 按rate of鞍 total 佰assets HYPERLINK /translate 搬2015昂2014擺2013八Ratio p艾roject 罷(%)邦Invento暗ry turn扮over俺Account壩s recei把vable t笆urnover扮Total a罷sset tu擺rnover啊Main bu安siness 阿revenue扳 growth盎Operati罷ng prof瓣it grow凹th扒After-t礙ax prof敗it grow跋th昂Growth 敖rate of暗 net

39、as哀sets氨Growth 壩rate of巴 total 罷assets HYPERLINK /translate 疤6.02敖5.61拜4.88翱Ratio p絆roject 辦(%)拜Invento礙ry turn敖over阿Account芭s recei跋vable t哎urnover絆Total a百sset 跋turnove八r霸Main bu扮siness 靶revenue按 growth翱Operati襖ng prof唉it grow襖th礙After-t擺ax prof愛it grow襖th皚Growth 爸rate of邦 net as胺sets按Growth 捌rate

40、 of凹 total 澳assets HYPERLINK /translate 岸57.37挨57.58絆47.88拔Ratio p吧roject 巴(%)柏Invento礙ry turn八over霸Account罷s recei八vable t芭urnover辦Total a傲sset tu敖rnover胺Main bu艾siness 巴revenue敗 growth氨Operati巴ng prof拔it grow熬th唉After-t捌ax prof啊it grow壩th鞍Growth 拔rate of敖 net as拌sets氨Growth 白rate of芭 total 藹assets

41、 HYPERLINK /translate 壩1.03昂1.49矮1.8俺Ratio p八roject 扳(%)耙Invento瓣ry turn爸over巴Account瓣s recei叭vable t唉urnover版Total a凹sset tu百rnover柏Main bu板siness 隘revenue鞍 growth吧Operati瓣ng prof敗it grow捌th盎After-t按ax prof芭it 皚growth隘Growth 疤rate of凹 net as扮sets奧Growth 昂rate of氨 total 罷assets HYPERLINK /translate

42、敗Ratio p昂roject 奧(%)耙Invento扮ry turn艾over八Account叭s recei拔vable t拔urnover阿Total a鞍sset tu吧rnover跋Main bu瓣siness 背revenue白 growth襖Operati扮ng prof擺it grow背th邦After-t唉ax prof擺it grow耙th吧Growth 胺rate of挨 net as凹sets瓣Growth 襖rate of凹 岸total a昂ssets HYPERLINK /translate 芭1.01版10.58懊44.33頒Ratio p班roject 擺(

43、%)阿Invento敖ry turn愛over昂Account哎s recei半vable t疤urnover耙Total a敖sset tu鞍rnover奧Main bu扒siness 罷revenue跋 growth爸Operati靶ng prof班it grow阿th案After-t拔ax prof疤it grow愛th愛Growth 岸rate of愛 net as哎sets藹Growth 俺rate of哀 total 斑assets HYPERLINK /translate 扒27.16板70.15隘66.2挨Ratio p百roject 版(%)藹Invento愛ry turn把

44、over伴Account頒s recei埃vable t伴urnover靶Total a擺sset tu扮rnover霸Main bu伴siness 絆revenue頒 growth暗Operati巴ng 拜profit 岸growth般After-t案ax prof板it grow岸th俺Growth 暗rate of稗 net as岸sets擺Growth 矮rate of按 total 辦assets HYPERLINK /translate 捌48.15把65.6百83.56奧Ratio p隘roject 絆(%)吧Invento按ry turn疤over澳Account愛s rece

45、i翱vable t擺urnover扳Total a昂sset tu爸rnover擺Main bu般siness 拔revenue愛 growth般Operati靶ng prof瓣it grow骯th凹After-t扮ax prof稗it grow敗th爸Growth 扮rate of班 net as霸sets俺Growth 藹rate of啊 total 敗assets HYPERLINK /translate 暗35.81半32.87捌69.82骯Ratio p氨roject 頒(%)扒Invento八ry turn敗over懊Account芭s 靶receiva翱ble tur矮nover

46、傲Total a翱sset tu哎rnover啊Main bu疤siness 傲revenue傲 growth笆Operati傲ng prof安it grow板th扳After-t百ax prof跋it grow氨th巴Growth 澳rate of傲 net as柏sets癌Growth 俺rate of巴 total 哀assets HYPERLINK /translate 邦68.59笆20.56啊53.58翱1. The愛 manage扒ment an啊d devel拌opment 懊capacit骯y analy澳sis凹 拌invento懊ry皚 turnov罷er, inv跋en

47、tory 安turnove暗r rate 半and tur襖nover d伴ays abi絆lity to胺 reflec鞍t the i按nventor稗y into 拜cash or凹 accoun把ts rece隘ivable.辦 The fa皚ster th暗e turno板ver, lo背wer inv阿entory 霸occupan擺cy leve疤l, the 半stronge昂r the 啊cashabi拜lity絆, 八gree懊 electr骯ic appl把iances 艾of inve傲ntory t傲urnover哎 is low八er, we 愛should 藹st

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50、asset 胺turnove叭r, tota矮l asset叭s turno奧ver spe傲ed fast半er, the藹 strong柏er sale礙s abili伴ty. 翱Gree柏 electr啊ic appl翱iances,壩 asset 白turnove疤r in th搬e indus安trys a凹verage 扒should 柏take板 furthe案r measu昂res to 擺acceler巴ate the扳 assets啊 turnov柏er, inc拌rease p按rofits.癌 疤main斑 busine盎ss reve吧nue gro版wth: th靶

51、is inde白x can r扒eflect 疤the ent案erprise扮s grow疤th. In 搬2015, 2礙015, 20安13, thr伴ee year半s of gr矮owth ra阿te of 1半.01%, 1扮0.58%, 岸44.33%.巴 It can頒 be see鞍n in 20氨13, 擺gree班 el扮ectric 骯applian耙ces mar柏ket dev案elopmen疤t stren邦gth rea板ched an礙 unprec稗edented把 height笆, due t搬o a sol半id indu板stry le壩ading p

52、安osition礙, occup盎ies mor敗e than 礙38% of 稗market 唉share, 暗the gro耙wth slo敗wed dow霸n in 10八15.辦 :俺 net pr笆ofit gr靶owth of爸 the in矮dicator頒s refle埃ct the 鞍strengt叭h of癌 the en捌terpris稗e growt擺h, the 稗prospec笆ts of g白ood. 盎The ind藹exs re癌cent in傲dustry 拜average昂 of 23%搬.佰 In 201擺5, 扳gree霸 electr按ic appl

53、扳iances 扒the ind叭ex was 版48.15%,哎 far hi跋gher th唉an the 熬industr辦y avera矮ge. Pro埃ve that敖 the de扮velopme敗nt fore耙ground 伴is very芭 good.半 阿growth案 rate o邦f ne班t asset皚s: this案 index 艾is one 挨of the 柏indicat斑ors ref氨lect th壩e enter邦prise d襖evelopm襖ent abi岸lity. 板Gree胺 electr頒ic appl暗iances 班this in拌de

54、x is 暗signifi捌cantly 邦higher 案than th皚e count百erpart 熬other e百nterpri矮ses, fu皚rther c爸onfirme翱d his g癌rowth p搬rospect懊s.啊2. Prof壩itabili奧ty anal阿ysis HYPERLINK /translate 把Shareho敖lders 唉equity 愛ratio翱26.99案25.56扮24.27暗Sales g吧ross 佰profit 安margin凹24.76跋19.74巴18.13擺Return 翱on equi俺ty哎29.22盎28.12啊22.

55、56百Earning埃s per s百hare稗1.6544擺3.2673半2.5196板Three c熬ost gro挨wth搬26.19岸10.57奧39.06鞍sales g唉ross pr背ofit ma案rgin: s八ales gr絆oss pro八fit mar昂gin per板 unit r搬eflects百 the en艾terpris耙e sales搬 revenu愛e gener捌ated by鞍 the pr罷ofits, 奧the ind稗ex of 翱gree耙 electr板ic appl頒iances 壩in 2014奧 and 20按15, the板 rati

56、o 版of 19.7絆6% and 叭24.76%,愛 respec氨tively,班 in 201巴5 than 盎in 2014阿 increa凹sed by 版5%, tha挨t due t傲o advoc柏ate bus奧iness 愛wu皚 income半 greatl爸y dilut盎ed the 版fixed c俺osts, m靶ake the疤 enterp氨rise st氨rength 啊ability拜 has im襖proved.凹 巴net瓣 intere挨st rate懊: it sh伴ows tha懊t the c礙omprehe盎nsive e敖ffect o拌f

57、 utili啊zation 哀of asse吧ts, the捌 higher般 the ra翱tio, 佰compani礙es make藹 the be巴tter ef耙fect in襖 terms 稗of incr愛easing 懊income 斑to save板 money.盎 版Gree岸 electr盎ic appl巴iances 皚are 29.白22% and芭 28.12%哎 respec愛tively 敗in 2015礙 and 20疤15 more艾 than t氨he rati把o of th耙e avera昂ge leve斑l of th案e indus俺try, fo骯

58、r home 按applian哀ce indu阿stry is凹 so com耙petiti挨ve envi埃ronment背 is goo氨d.隘 疤return伴 on equ奧ity: th巴e index阿 of the隘 背gree安 electr斑ic appl阿iances 啊is rela奧tively 拔high, s跋o has b安een pra般ised by艾 invest敖ment in吧stituti熬ons and絆 the va敖st majo班rity of爸 people斑 attent八ion.般3. The 矮long-te背rm solv版ency

59、an奧alysis邦Asset-l白iabilit敖y ratio捌: th凹e rate 敖of asse伴ts and 埃liabili懊ties of佰 唉gree般 electr敖ic appl敖iances,愛 2015, 哀2014, 2氨013 res哎pective氨ly, ass皚et-liab叭ility r癌atio fr按om the 矮above r版atio we巴 think 絆or high傲er. Ass靶ets to 班liabili稗ties do敖 not ha柏ve stro案ng abil隘ity of 扮securit凹y. Sing拜le fro

60、m哀 the da八ta itse癌lf, no 疤matter骯 from t襖he cred背itor or啊 shareh敖olders壩 standp半oint, i斑s not a班 safe c版apital 暗structu俺re. But笆 due to愛 the ch拔aracter百istics 按of the 奧air con拌ditioni阿ng indu拔stry an佰d the b矮rand ef唉fect of頒 indust擺ry lead背ing ent癌erprise板s, the 阿data do半es not 捌affect 昂the con埃fide