IV
摘 要
随着经济的发展，人们生活水平不断提高，对“生命健康”的重视程度与日
俱增，植物提取行业随之异军突起，发展迅速，出口额不断上升。2011 年、2012
年，政府相继发布《食品工业“十二五”发展规划》和《中医药事业发展“十二
五”规划》，明确指出，支持中药产业和植物提取行业的发展，为植物提取行业
的发展带来了无限商机。NB 中药制药有限公司（以下简称“NB 中药”）作为国
内最大的姜黄生产企业，拥有技术、产品、人力、品牌等多种核心优势，在国内
外拥有很高的知名度和美誉度。但是，2013 年，NB 中药销售收入下滑，究其原
因，主要是资金紧张引起的产能不足，一方面缺乏足够的生产线，另一方面缺乏
生产所需的流动性资金，所以，NB 中药需要进行融资以扩张产能。为此，本文
就 NB 中药产能扩张项目进行可行性分析，试图就该项目是否可行给出明确的回
答，并给出相关数据资料予以支持，以期能为以后的相关研究做一定参考。

首先，本文回顾了可行性研究理论，从理论上阐述了项目可行性研究的概念、
主要内容和研究方法，为本文的顺利撰写奠定了坚实的理论基础。其次，本文对
NB 中药公司和 NB 中药产能扩张项目做了简单的概述，为本文的描述对象做了
定位。接着，本文分了 3 个部分，分别从市场上、技术上和投资收益上对 NB 中
药产能扩张项目做了详细的调查研究，得出该项目具有比较大的国内外市场、在
技术上拥有核心优势、能够获得比较客观的投资收益，具备市场、技术和经济的
可行性。最后，本文分析该项目投资潜在的风险，结合风险因素识别、风险评估
结果，本文认为，为了保障产能扩张项目投资收益，NB 中药应该继续致力于提
高产品质量，打通产业链，从而维持行业内的领先地位，并且，还应该完善公司
治理结构，规范公司财务管理制度，继续提高企业的核心竞争力，为成为“世界
第一”的姜黄产品生产商做充分的准备。

关键词：NB 中药；产能扩张；项目投资；可行性研究
II
Abstract
Along with the development of the economy, people's living standard improved,
and the importance of healthy life increased. It's turned out that plant extracts
industry developed meteoricly and rapidly, and that the quantity of the industry’s
exports is rising. In order to support the development of the plant extracts industry,
Chinese government has been formulated a series of policies. Among the policies,
the twelfth five-year development plan of food industry in 2011 and the twelfth
five-year development plan of the traditional Chinese medicine industry in 2012
influenced most because it’s written clearly that our government will support its
development. Therefore, the industry of plant extracts met another development
opportunity. NB Chinese Traditional Pharmaceutical Co.,Ltd.( in this paper，referred
as “NB Herb”)as the largest turmeric production enterprise in domestic market has
advantages on technology、product brand、manpower and so on, which has high
visibility and reputation at home and abroad. However, in 2013, the sales revenue of
NB Herb declined. Through the detailed analysis, we found that the main reason was
that money was tight, which led to the shortage of capacity. On the one hand, NB
Herb didn’t have enough equipment for producing, on the other hand, NB Herb didn’t
have enough liquid cash to support the producing. Hence, NB Herb needed finance
investment. The article mainly analyzed the feasibility of the project of the finance
investment, then gave a definite answer about that whether the project is feasible or
not and the related data support. I hope that the paper can give the related future
research a little reference.
Firstly, this paper reviews the theory of the feasibility study. It mainly included
the concept of the feasibility study、the content of the feasibility and the research
method of the feasibility, which laid a solid theoretical basis for the paper's writing.
Secondly, this paper simply described the NB Herb and the investment project of
capacity expansion, which took on a simply expression about the NB Herb's
investment project. Then, this paper divided three parts to respectively analyze the
market、technology、and investment returns on the NB Herb's capacity expansion
investment project. Through the detailed analysis, it was concluded that the
investment project was feasible on market、technology and revenue. That was to say,
the project had a large market at home and abroad, and that NB Herb had the core
advantage in technology, and that it was able to obtain more objective investment