本文以东方电子与东芝合作生产电能表为背景，结合可行性研究的理论、 方法与程序，对该项目进行了详细的分析，并最终形成了可行性研究。 随着我国房地产业的快速发展、新一轮电网投资的开始以及电表的升级换 代，2005 年后我国对电能表的需求将保持平稳的发展。同时，随着电能表行业 国际竞争力的增强，我国电能表产品也将广泛进入国际市场。电能表行业的前 景非常看好。通过对东方电子、东芝竞争力的分析和比较，为了使双方在电能 表行业取得良好的发展，由东方电子和东芝按商定比例出资设立合资公司，由 合资公司收购东方电子的控股子公司——威思顿的全部股权，并注销威思顿法 人资格。以威思顿的电能表及相关产品为基础，由合资公司开拓电能表行业市 场，并稳步拓展国际市场。 本文对电能表产品市场进行了研究，结合供需分析、行业竞争力分析，对 电能表行业的总需求和价格变化趋势作出了预测。本文拟订了合作方案、产品 方案和技术方案，结合合资公司发展规划，对项目投资额进行了估算并提出了 融资方案。 本文从静态、动态和不确定性三个方面进行了财务评价，评价结果是，投 资回收期约 6.5 年；内部收益率 14.71%；盈亏平衡点不到主营业务收入的 50%。 此外，本文还对该项目进行了风险分析，并提出了防范和降低风险的对策。 综合各项分析，得出了该项目是可行的，并对项目实施进度进行了安排。 关键词，东方电子 电能表 可行性研究ABSTRACT This article, taking the cooperation of Yantai Dongfang Electronics and Toshiba on electric-power meters as background, combining the theory, method and procedure of feasibility study, analyzes this project detailedly, and a feasibility study comes into being at last. With the fast development of Chinese Real Estate, and the start of a new round electric-grid investment and upgrade of meters, the requirement of electric-power meters in China will develop reposefully after 2005. At the same time, with the increasing of international competition of electric-power meters, Chinese meters will inter international market widely. The foreground of electric-power meter is promising. By the analysis and compare of competition of Dongfang and Toshiba, in order to keep a good development situation in this field by the two parties, Dongfang and Toshiba will establish a join venture by bargained investment proportion. On the basis of Dongfang (Dongfang Wisdom) meters and related products, the joint venture company will develop the market of electric-power meter field, as well as international market. This article studies the electric-power meter market, combines the analysis of supply/requirement and competition, and makes a forecast for total requirement of electric-power meters and price movement trend. This article draws out the cooperation solution, product solution and technique solution, combines the development layout of joint venture, and appraises the project investment and makes a financing solution. This article appraises the finance of static state, dynamic state and uncertainty of this project, the result is: return on investment is 6.5 years, internal rate of return is 14.7%, break-even point is less than 50% of business turnover. In addition, this article also analyzes the risk of this project, and makes a countermeasure to keep away and decrease the risk. By analyzing each item integratedly, the conclusion is that the project is feasible, and the implement schedule of this project is arranged. Keyword: Dongfang Electronics electric-power meter feasibility study目录 第一章 导论...................................................1 1.1 研究背景 ................................................1 1.2 本文研究的基本思路和主要内容 ............................5 第二章 可行性研究概述.........................................7 2.1 可行性研究的涵义 ........................................7 2.2 可行性研究的程序 .......................................10 第三章 产品市场分析..........................................13 3.1 产品市场供给分析 .......................................13 3.2 产品市场需求分析 .......................................15 3.3 产品市场竞争力分析 .....................................20 3.4 产品目标市场分析 .......................................25 3.5 产品价格现状与预测 .....................................25 第四章 合作、产品及技术方案 ..................................27 4.1 合作方案 ...............................................27 4.2 产品方案 ...............................................28 4.3 技术方案 ...............................................28 第五章 发展规划、投资估算及融资方案 ..........................30 5.1 合资公司宗旨、组织机构及管理费用估算 ...................30 5.2 生产规划及投资估算 .....................................31 5.3 研发规划及投资估算 .....................................39 5.4 国内市场营销规划及投资估算 .............................41 5.5 国外市场营销规划 .......................................45 5.6 投资估算及资金需求 .....................................47 5.7 融资方案 ...............................................48 第六章 财务、经济评价........................................50 6.1 财务分析 ...............................................506.2 盈亏平衡分析 ...........................................57 6.3 评价结论 ...............................................58 第七章 风险分析..............................................59 7.1 存在的主要风险 .........................................59 7.2 防范和降低风险的对策 ...................................60 第八章 研究结论和建议........................................62 8.1 方案的总体描述 .........................................62 8.2 方案的优缺点描述 .......................................62 8.3 主要对比方案 ...........................................63 8.4 结论 ...................................................63 8.5 项目实施进度 ...........................................63 结束语 ....................................................65