I 摘要 中国乳制品行业仍处于发展阶段。近年来，乳制品行业进入集中度逐步提升的挤压 式增长阶段，形成了国外与国内大型乳企之间竞争、国内大型乳企之间竞争、国内大型 乳企与地域型乳企竞争的多重竞争格局。SQRY公司作为区域性乳制品企业，如何在竞 争中发挥区域特色，健康稳定发展成为其重中之重，而财务健康稳定是其健康稳定发展 的基石。因此，本文利用哈佛财务分析理论框架，从SQRY公司发展战略、前景、会计 报表、财务能力四个方面进行了详细分析，发现问题并提出了财务优化建议，以期实现 SQRY公司财务健康稳定发展的目标。 本文内容安排如下：首先，绪论从阐述研究背景及意义出发，通过大量的文献资料 论证了解哈佛分析框架的研究内容、研究方法及本文创新之处。其次，详细论述了财务 分析的相关理论，从传统财务报表分析理论和哈佛分析框架理论出发，比较了两者的基 本思想和理论基础，确定了理论方法的选择，用以凸显哈佛分析框架的显著优势。再次， 基于哈佛分析框架方法，从战略、会计、财务、前景4个方面对SQRY公司进行全面分 析，探索公司在经营方面出现的问题，并据此提出优化建议。同时重点突出财务优化， 通过改进财务问题来促进公司经营战略高效运行。最后是对全文进行总结，并指出研究 不足和展望。 对SQRY公司研究结论如下：1、从战略上看，SQRY公司可以加大研发资金和人 才投入，优化产品结构。构建完善的销售网络，提高市场占有率。同时加强奶源建设， 提高原料奶自给率，实现产品质量的全程安全可控，提高核心竞争力。2、从会计上看， 重点把控存货、应收账款、生产性生物资产等几个会计科目，同时要实时确保债务到期 数和企业资金流的同步。3、从财务上看，盈利能力较强，但长期偿债能力不强，资产 对负债依存度高，公司内部财务管理混乱，管理层贪图既得成绩，进取心不强等，需要 改进优化，以帮助SQRY公司提升整体竞争实力。4、从前景上看，保持经营产品的多 样化和营销渠道的多元化，加大产品研发和人才的投入，可以使企业更具有竞争力。 关键词：乳品企业；哈佛分析；财务；优化 山东理工大学硕士学位论文ABSTRACT II ABSTRACT China'sdairyindustryisstillinthedevelopmentstage.Inrecentyears,thedairyindustry hasenteredthestageofextrusiongrowthwithgraduallyincreasingconcentration,forminga multiplecompetitionpatternofcompetitionbetweenforeignanddomesticlarge-scaledairy enterprises,domesticlarge-scaledairyenterprisesandregionaldairyenterprises.SQRY,asa regionaldairyenterprise,howtoplaytheregionalcharacteristicsinthecompetition,healthy andstabledevelopmenthasbecomeitstoppriority,andfinancialhealthandstabilityisthe cornerstoneofitshealthyandstabledevelopment.Therefore,thispapermakesadetailed analysisofSQRYCompany'sdevelopmentstrategy,prospect,accountingstatementand financialabilitybyusingthetheoreticalframeworkofHarvardfinancialanalysis,findsout problemsandputsforwardsuggestionsforFinancialOptimizationinordertoachievethegoal ofSQRYCompany'shealthyandstablefinancialdevelopment. Thecontentofthispaperisarrangedasfollows:firstly,theintroductionstartsfromthe backgroundandsignificanceoftheresearch,andthroughalargenumberofliteratures, demonstratesandunderstandstheresearchcontent,researchmethodsandinnovationof Harvardanalyticalframework.Secondly,itdiscussestherelatedtheoriesoffinancialanalysis indetail.StartingfromthetraditionalfinancialstatementanalysistheoryandHarvardanalysis frameworktheory,itcomparestheirbasicideasandtheoreticalbasis,anddeterminesthe choiceoftheoreticalmethodstohighlightthesignificantadvantagesofHarvardanalysis framework.Thirdly,basedontheHarvardanalysisframeworkmethod,thispapermakesa comprehensiveanalysisofSQRYCompanyfromfouraspectsofstrategy,accounting,finance andprospect,explorestheproblemsinthecompany'soperation,andputsforward optimizationsuggestionsaccordingly.Atthesametime,weshouldfocusonFinancial Optimizationandimprovefinancialproblemstopromotetheefficientoperationofthe company'sbusinessstrategy.Finally,itsummarizesthewholepaper,andpointsoutthelack ofresearchandprospects. TheresearchconclusionsofSQRYCompanyareasfollows:1.Strategically,SQRY CompanycanincreaseR&Dfundsandtalentinvestment,andoptimizeproductstructure. Buildaperfectsalesnetworkandimprovemarketshare.Atthesametime,strengthenthe constructionofmilksource,improvetheself-sufficiencyrateofrawmilk,realizethewhole processsafetyandcontrollabilityofproductquality,andimprovethecorecompetitiveness.2. Fromtheaccountingpointofview,weshouldfocusonseveralaccountingsubjects,suchas inventorycontrol,accountsreceivable,productivebiologicalassets,etc.,andatthesametime, 山东理工大学硕士学位论文ABSTRACT III weshouldensurethesynchronizationofdebtmaturityandenterprisecapitalflowinrealtime. 3.Fromthefinancialpointofview,theprofitabilityisstrong,butthelong-termsolvencyis notstrong,theassetdependenceondebtishigh,thecompany'sinternalfinancialmanagement ischaotic,themanagementisgreedyforachievements,andtheenterpriseisnotstrong.It needstobeimprovedandoptimizedtohelpSQRYCompanyimproveitsoverall competitiveness.4.Fromtheperspectiveofprospect,keepingthediversificationofproducts andmarketingchannels,increasingtheinvestmentofproductresearchanddevelopmentand talentscanmaketheenterprisemorecompetitive. Keywords:Dairyenterprise；Harvardanalysis;Finance;Optimization 山东理工大学硕士学位论文目录 IV 目录 摘要.....................................................................................................................................I ABSTRACT...............................................................................................................................II 目录......................................................................................................................................IV 第一章绪论.....................................................................................................................1 1.1研究背景及意义............................................................................................................1 1.1.1研究背景.............................................................................................................1 1.1.2研究意义.............................................................................................................1 1.2文献综述.......................................................................................................................2 1.2.1关于哈佛分析框架的研究综述.........................................................................2 1.2.2研究评述.............................................................................................................4 1.3研究内容.......................................................................................................................5 1.4研究方法.......................................................................................................................5 1.5创新点............................................................................................................................6 第二章财务分析的理论基础...................................................................................................7 2.1传统财务报表分析理论...............................................................................................7 2.1.1传统财务报表分析的理论基础..........................................................................7 2.1.2传统财务报表分析的缺点.................................................................................9 2.2哈佛分析框架理论.....................................................................................................10 2.2.1哈佛分析框架的基本思路................................................................................10 2.2.2哈佛分析框架的内部关系与优势...................................................................11 2.3本文的理论方法选择.................................................................................................13 第三章基于哈佛分析框架的SQRY公司战略分析..........................................................14 3.1SQRY公司概况.........................................................................................................14 3.2乳制品行业现状分析..................................................................................................15 3.2.1乳制品行业现状...............................................................................................15 3.2.2乳制品行