新源牧业乳制品投资项目的财务评价研究

　　摘 要

　　投资项目的财务分析与评价是进行项目投资决策的重要依据，力求实现投入资金获得最佳经济效益和社会效益，同时在评价的过正中发现项目存在的问题，分析问题成因并提出相应的解决方案。本文以新源牧业乳制品投资项目为研究对象，通过对该项目在乳制品市场和财务评价上的分析说明，对该类乳制品项目进行一个全面的财务分析与市场评价。即在投资前期综合评价该项目的经济效益状况，使企业对未来的投资活动有正确的把握，以确保该项目建设及运营的顺利实施。

　　由于该项目为纯市场竞争类项目，项目的未来市场情况将直接影响项目的未来收益，论文研究的重点是分析乳制品行业市场并构建乳品项目经济评价体系。本文以项目评价的理论和方法为基本工具，以乳品项目为主要研究对象，对项目市场情况展开探讨，并结合项目的特点建立项目经济评价体系，通过该实例对论文提出的方法进一步加以验证。

　　本文结构主要分为四大部分，第一部分为本文绪论，简要介绍了本文的研究背景、意义、内容及方法；第二部分简要介绍了本文研究对象的整体介绍，同时找出该公司及其未来建设项目中存在的问题；第三部分针对第二部分发现的问题，进行详细分析；第四部分，对项目存在的问题进行分析后找出相应的解决方案。

　　通过对新源牧业奶牛繁育及乳品加工的市场分析及经济评价，从而得出所得税前财务内部收益率（全部投资）高于行业基准收益率，其投资回收期低于基准回收期 7 年的标准。净现值大于零，其余财务指标能够满足行业要求。由此得出项目的赢利能力分析结果较强，认为该项目财务评价中确定的理论指标具有现实的经济意义的。同时对该项目建设存在的风险因素进行判断，分别从项目资金落实及未来项目市场预测为重点分析对象，发现并分析其中存在的问题，并提出相应的解决方法，使项目能够得以顺利建设，并达到预期经济效益。

　　本项目的建成不但可以提高企业自身的经济效益，还将大大推动项目所在地区的乳制品行业和奶牛业发展建设，为当地农民致富开创了一条新路，也使当地的牧业草地和以前闲置的玉米秸杆得以开发利用，同时还将带动周边地区和相关产业经济的发展，形成新的经济产业链，促进自然资源的合理利用，有利于产业结构的调整。将为振兴吉林省经济、解决下岗职工再就业做出重要贡献。本文的分析结论也对我国乳制品行业提供了一定借鉴意义，为我国乳品行业的健康发展提供了理论依据。

　　关键词：

　　乳制品，市场分析，财务分析，风险分析

　　Abstract

　　Financial analysis and evaluation of investment project is an important basis forproject investment decision, and strive to achieve investment and obtain the besteconomic benefit and social benefit, at the same time in the evaluation of a medianfound problems, analysis of the causes of the problem and puts forward thecorresponding solutions. In this paper, a new source of animal husba. In this paper, anew source of animal husbandry dairy investment project as the research object,through the analysis of dairy products in the market and the financial evaluation ofthe project, a comprehensive financial analysis and market evaluation of the dairyproject. In the pre investment economic benefit evaluation of the project, so thatenterprises have a correct understanding of the future investment activities, to ensurethe smooth implementation of the project construction and operation of the.

　　Because this project is a pure market competition project future earnings, futuremarket conditions of the project will directly affect the project, the emphasis of thethesis is the analysis of dairy industry market and the construction of economyevaluation system of dairy project. This theory and method to the project evaluationas the basic tool, the dairy project as the main object of study, the discussion of theproject market conditions, and the establishment of project economic evaluationsystem combining with the characteristics of the project, through the example of theproposed further verify.

　　The structure of this paper is mainly divided into four parts, the first part is theintroduction, introduces the research background, significance, contents and methods;the second part briefly introduces the research object in this paper is introduced, andfound out the company and its future construction projects in question; the third partfor the second part of the problems found, detailed analysis; fourth part, carried on theanalysis to the problems and find out corresponding solutions.

　　Through market analysis and economic evaluation of a new source of animalhusbandry dairy cattle breeding and dairy processing, so that the pre tax internal rateof return （investment） is higher than the industry benchmark rate of return, theinvestment recovery period is lower than the reference standard recovery period of 7years. NPV is greater than zero, other financial indicators can meet the requirementsof the industry. The project profit ability analysis result that strong, with realeconomic significance theoretical indicators to determine the financial evaluation ofthe project. At the same time to judge the risk factors existing in the projectconstruction, from project funds to implement the project and the future marketforecast as the key analysis object, find and analyze the existing problems, andproposes corresponding solutions, so that the project can be successfully construction,and achieve the expected economic benefits.

　　The completion of this project not only can improve the economic benefit of theenterprise, will greatly promote the project area of the dairy industry and dairyindustry development, for local farmers to create a new path, but also to local animalhusbandry and grassland and previously idle corn straw can be development andutilization, but also will drive the development of the surrounding area and relatedindustries, the formation of new economic industrial chain, and promote the rationaluse of natural resources, is conducive to the adjustment of industrial structure. Willrevitalize the economy of Jilin Province, solve the re employment of laid-off workersto make an important contribution. The conclusion of this paper is on China's dairyindustry provides certain reference significance, and provides a theoretical basis forKey words:

　　Dairy Products, Market Analysis, Financial Analysis, Risk Analysisthe healthy development of the dairy industry in our country.

    目 录

　　摘 要……I

　　ABSTRACT……III

　　第 1 章 绪论……1

　　1.1 研究背景 ……1

　　1.2 研究意义 ……2

　　1.3 研究内容及方法 ……4

　　第 2 章 项目情况及存在问题……6

　　2.1 项目公司概况 ……6

　　2.2 新源牧业建设项目分析……8

　　2.3 项目投资面临的问题……12

　　第 3 章 新源牧业投资项目问题分析……13

　　3.1 项目公司财务问题分析……13

　　3.2 项目筹资问题分析 ……16

　　3.3 项目投资市场环境分析……18

　　第 4 章 项目问题解决方案与风险防控措施……27

　　4.1 项目财务问题解决方案……27

　　4.2 项目筹资问题解决方案……31

　　4.3 项目市场风险防控策略……33

　　结 论……40

　　参考文献……41

　　致 谢……43