近年来，在党中央、国务院振兴中医药发展的大背景下，中医药行业迎来大 变革、大发展时期，医药卫生体制改革得到进一步深化。在分级诊疗、取消药品 加成、降低药占比、两票制等政策的作用下，行业监管日趋严格。随着政策的利 好，资本市场对医药大健康产业的投入不断增加，医药市场格局逐步发生变化， 竞争激烈程度日益升级，在机遇与挑战并存的形势下，众多中药企业如临大敌， 未雨绸缪。作为企业竞争力的核心组成部分，财务竞争力的提升成为企业提升竞 争力的关键所在。 本文以兰州佛慈制药股份有限公司作为研究对象，根据财务竞争力相关理 论，利用因子分析法，构建财务竞争力评价指标体系，对佛慈制药现有财务竞争 力进行评价，得出影响佛慈制药财务竞争力的主因子有偿债能力、盈利能力、营 运能力等5个因子，佛慈制药财务竞争力整体较弱的结论。结合佛慈制药公司历 年经营情况和主要财务指标变化趋势，得出公司财务竞争力偏弱的原因主要是公 司财务战略激进，规模急速扩张导致公司偿债能力较差；公司营业收入增长减缓、 应收账款增长较快、营业成本增长较快等原因，导致公司盈利能力、营运能力、 获现能力较差。提出实施稳健型财务战略，整合优化财务资源、优化销售费用支 出、加强应收账款管理、加强精细化生产管理、加强人力资源管理等对策提升公 司财务竞争力。 通过本文的研究，不仅能为佛慈制药公司以及甘肃省其他中药企业提出有效 的财务竞争力提升对策，同时也有利于丰富我国中药行业上市公司财务竞争力的 相关研究。 关键词：佛慈制药；财务竞争力；提升对策 II StudyontheImprovementofFinancialCompetitivenessof LanzhouFociPharmaceuticalLimitedCompany Abstract Inrecentyears,inthecontextoftherevitalizationofthedevelopmentoftraditionalChinese medicinebythePartyCentralCommitteeandtheStateCouncil,theindustryoftraditional Chinesemedicinehasusheredinaperiodofgreatchangeanddevelopment,andthereformofthe medicalandhealthsystemhasbeenfurtherdeepened.Underthepoliciesofhierarchicaldiagnosis andtreatment,cancellationofdrugaddition,reductionofdrugproportion,andtwovotesystem, industrysupervisionisincreasinglystrict.Withthefavorablepolicies,theinvestmentofcapital marketinthepharmaceuticalhealthindustryisincreasing,thepatternofpharmaceuticalmarketis changinggradually,andthedegreeofcompetitionisupgradingdaybyday.Inthesituationofboth opportunitiesandchallenges,manytraditionalChinesemedicineenterprisesarereadytotake precautions.Asthecorecomponentofenterprisecompetitiveness,thepromotionoffinancial competitivenesshasbecomethekeytoenhancethecompetitivenessofenterprises. ThispapertakesLanzhoufociPharmaceuticalLimitedCompanyastheresearchobject, accordingtotherelevanttheoryoffinancialcompetitiveness,usingfactoranalysismethod, constructstheevaluationindexsystemoffinancialcompetitiveness,evaluatestheexisting financialcompetitivenessoffocipharmaceutical,andconcludesthatthemainfactorsaffecting focipharmaceutical'sfinancialcompetitivenessaredebtpayingability,profitability,operation ability,etcTheconclusionofweakcompetitivenessasawholebinedwiththeoperationand mainfinancialindexchangetrendoffocipharmaceuticalcompanyovertheyears,itisconcluded thatthemainreasonsfortheweakfinancialcompetitivenessofthecompanyaretheradical financialstrategy,therapidexpansionofthecompany'sscaleleadingtothepoorsolvencyofthe company;theslowgrowthofthecompany'soperatingrevenue,therapidgrowthofaccounts receivable,therapidgrowthofoperatingcostsandotherreasons,leadingtothecompany's profitability,operatingability,andprofitabilityThecurrentcapacityispoor.Putforwardthe implementationofsoundfinancialstrategy,integrateandoptimizefinancialresources,optimize salesexpenses,strengthenaccountsreceivablemanagement,strengthenrefinedproduction management,strengthenhumanresourcemanagementandothercountermeasurestoenhancethe company'sfinancialcompetitiveness. Throughthisstudy,wecannotonlyputforwardeffectivemeasurestoenhancefinancial III competitivenessforFociPharmaceuticalCompanyandothertraditionalChinesemedicine enterprisesinGansuProvince,butalsoenrichtherelevantresearchonfinancialcompetitiveness ofListedCompaniesinChinesetraditionalmedicineindustry. Keywords:FociPharmaceutical;FinancialCompetitiveness;PromotionMeasure IV 目录 目录 中文摘要.............................................................................................................I Abstract..............................................................................................................II 第一章绪论.....................................................................................................1 1.1研究的背景及意义..................................................................................................1 1.1.1研究背景...........................................................................................................1 1.1.2研究意义...........................................................................................................4 1.2研究内容与方法.......................................................................................................5 1.2.1研究内容...........................................................................................................5 1.2.2研究方法...........................................................................................................5 1.3研究思路...................................................................................................................6 第二章理论基础.............................................................................................7 2.1企业财务竞争力的内涵..........................................................................................7 2.1.1企业竞争力的相关理论..................................................................................7 2.1.2企业财务竞争力的内涵..................................................................................8 2.2企业财务竞争力的特征..........................................................................................8 2.3企业财务竞争力的影响因素..................................................................................9 2.4企业财务竞争力的评价方法..................................................................................9 2.5文献综述................................................................................................................11 第三章佛慈制药公司财务竞争力评价......................................................13 3.1公司经营概况........................................................................................................13 3.1.1公司简况........................................................................................................13 3.1.2主要产品及主营业务构成情况....................................................................13 3.1.3主要财务数据................................................................................................13 3.2公司财务战略现状................................................................................................14 V 3.2.1投资战略现状................................................................................................15 3.2.2筹资战略现状................................................................................................16 3.2.3经营战略现状................................................................................................17 3.3公司财务资源优势................................................................................................18 3.3.1品牌资源优势................................................................................................18 3.3.2区位资源优势................................................................................................18 3.3.3技术工艺资源优势........................................................................................18 3.3.4政府投入资源优势........................................................................................19 3.3.5税收优惠政策优势........................................................................................19 3.4佛慈制药公司财务竞争力评价体系....................................................................19 3.4.1评价体系样本数据的来源和处理................................................................20 3.4.2评价体系样本数据检验