1、K0910,Financial Analysis Reports,（一）Overall performance level According to the published data of the company, we used all kinds of financial analysis method to analysis it synthetically, we think the current period financial status are greatly increased compared to the same period last year.,Financi

2、al Analysis Reports,Financial Statements Analysis,Financial Statements Analysis,（一） balance sheet,Financial Statements Analysis,The description of the companys own assets status and the assets change: The companys current period assets increased 2.3% compared to the same period last year, The change

3、 of the assets are mostly intangible assets. Growth of about 60.2%, The enterprise will be the focus of the funds to transfer of intangible assets direction. We Should notice of the production scale and product structure of the change of the enterprise. This changeable not only determining the compa

4、nys earning capacity and development potential but also determining the companys production management form. So we suggest the investors track and research the change of it. In the current assets, the proportion of monetary capital is maximum, hold 48.34%, Notes receivable proportion is taking the s

5、econd place , hold 19.58% The growth rate of current assets is 6.19, in each project change of the current assets, Monetary asset classes and penetration of the increase of short-term assets greater than the current assets increase, that prove the enterprise meet the changing market ability will inc

6、rease. The increase of credit asset classes is significantly greater than the current assets, it state the payment collection of enterprise is unsatisfactory, the company should enhance Inventory management and sales work. In a word , the capacity of companys payment and the ability of coping with t

7、he market is general.,Financial Statements Analysis,The enterprise itself liabilities, and owners equity status and changes show that: From the owners rights and liabilities of the proportion of the total assets look, enterprises current debt ratio is 33.18%, and the long term liabilities and owners

8、 equity ratio of 100%, that is located in the capital structure enterprise normal level Corporate debt and equity changes in current liabilities decreased 3.57%, long-term liabilities decreased by 0.07%, shareholders equity increased 7. 69% Current liabilities decrease of 3.57%, business aspects of

9、the changes in current liabilities to current liabilities decreased, mainly caused by lower accounts payable business aspects of the reduction in current liabilities. Raise the proportion of earned surplus, indicating the companys profits remain strong desire to enhance the operational capabilities.

10、 Share of undistributed profits of the proportion of structural liabilities also increased over last year, illustrating the risk of financing and the ability to cope with increased over last year. Overall, long-term and short-term of financing activities is less than last year. Enterprises are mainl

11、y equity funds to carry out business activities, the cost of capital is relatively low.,（二） Profit and profit distribution,（1）The composition of the profit Period the company achieved a total profit 2,717,765,421.40 yuan. Among them, the operating profit 2,731,272,788.49; business operating income 1

12、,985,698,628.59 yuan, accounting for 73% of total profits. （2）Profit growth Period the company achieved a total profit of 2.71776 billion yuan, up 84.85% over the same period last year which, operating profit growth of 85.15 percent over the previous year, increasing total profits 125,612 yuan.,Fina

13、ncial Statements Analysis,Income analysis Compared with the same period last year growth that companies scale of operations in the rapid development stage, the competitive products and services, market promotion has been a great success, and company business scale expanding quickly.,（三）Statement of

14、cash flows,Cash liquidity analysis Cash flow is indebted than reflecting enterprise management pay by its short-term debt capacity index. The index, the bigger the solvency is stronger. This company cash flows into debt ratio 0.59, year-on-year increase that companies cash liquidity significantly en

15、hanced, and the ability to pay cash increased rapidly, the rights and interests of creditors cash ensures degree increase, which is beneficial to the companys sustainable development.,Financial performance evaluation,Enterprises solvency is to show enterprise with its assets to repay the short and l

16、ong the ability of debt. Have the ability of the enterprise to pay cash and ability to repay its debt, is the enterprise healthy survival and development of the key. The management of the enterprise profitability mainly reflect business in the ability to create profits. Companys current period profi

17、tability comprehensive score of 96.39, 36.99% increase over the same period, explain the company profitability in high speed development stage, this company in optimization product structure and the cost control of the company and cost aspects have made great progress, company profit ability in this

18、 period was a great improve, submit to analysts pay serious attention, because profitability for future greatly enhance the company grows quickly, create a better economic benefits to lay a solid foundation. From internal see industry, company profit ability is far higher than the industry average, the company to provide products and services in the market i