Swot Analysis Case of Financial Management 1 1. Characteristics of Trust Products
1, high starting point. Basically 3 million, 50 places per project 1 10,000 (commonly known as small amount). Higher investment threshold excludes ordinary investors. Therefore, trust business is also called private bank. The investment threshold of trust has a rising voice. Why set a high threshold? The usual explanation is that trust investors need to have certain risk identification ability and risk tolerance. For example, in the United States, it is stipulated that only people who need $5 million can participate in trust investment.
2. Low risk. Trust projects require due diligence, objective and fair information disclosure, and clear risk management methods, and can only be issued after approval by the CBRC. The operation of trust projects needs to be bound by trust law, so the overall risk is relatively low. Since the establishment of 200 1 Trust Law, trust investors have been able to reap the principal and interest as scheduled.
3. higher income. When the economic situation was good in previous years, trust investors could basically reap an annualized income of more than 10%. Even in this year's global economic downturn, the average annualized income of trust products is around 9%. During the three years from 2009 to 20 1 1, trust investors earned 240 billion yuan, of which 75.5% earned an annualized income of more than 9%, 62% earned an annualized income of 9- 12%, and many real economies earned less than 9%.
4. Continuous investment is convenient and concise. Getting back the principal and income at maturity can form a continuous investment and compound the income. Calculated by 9% compound interest, 3 million yuan is 1 billion for 40 years, and 1 trillion for 50 years.
5. Debt isolation function. Trust property is protected by law. Once the trust is established, the trust property will be separated from the property of the trustor, trustee and beneficiary and become independent property. Trust property cannot be liquidated, repaid or bankrupt. This is a great advantage of trust products.
6. Poor liquidity. Trust products cannot be redeemed separately before maturity, but can be transferred to other investors. The term of most trust products is 1 to 2 years. In order to meet the demand of high liquidity of idle funds, CITIC Trust and Ping An Trust set up short-term trust products with maturities of 3, 4, 6, 9 and 12 months. ,/kloc-large funds of more than 0/100 million can be customized with flexible term.
7. Flexible investment methods. Trust can span the three major fields of currency, capital and industrial market, and can operate flexibly in various forms such as equity and loans, which is unmatched by other financial institutions. The advantage of trust system is also one of the important reasons for its rapid development in recent years. In order to obtain funds more quickly, many project parties are also willing to take the trust channel financing at a higher cost.
Second, bank wealth management products VS trust products
1, low investment threshold. Generally, there are 50,000 cases, and bank financing belongs to public financing. Subscription is convenient, and you can even place an order directly online.
2. Good security and low income. Bank wealth management products have high security, but low yield is their weakness. If the product description has the words of capital preservation, the yield is about 3%; Without the word "capital preservation", the yield rarely reaches 5%. It is difficult for bank wealth management products to catch up with inflation. There are roughly two reasons. First, the capital threshold is low, and the bargaining power is lost, and the excess income usually belongs to the bank; Secondly, the operating costs of banks are relatively high, and there is one at 200 meters. Or a street shop, the rental cost and labor cost are not low, and it definitely needs high profit support.
3. Strong liquidity. Few bank wealth management products have a term of 1 to 2 years, which is basically about 30 days or 3 months. This term is very flexible, and it is convenient to subscribe at any time.
4. There are many bank outlets, and we also know the detailed information of customers. They have a high degree of trust in the hearts of ordinary people, which is the biggest advantage of banks. The advantages of cooperation with banks are high, and insurance, securities, trusts, funds and investment companies are also willing to cooperate with banks. Therefore, when choosing financial products, banks should distinguish their own financial products from those of other financial institutions. It is necessary to know whether the contract has the official seal of the bank. If the products are sold by banks, we should be very cautious. Sometimes the salesperson doesn't make it clear. 20 10 there are 38 bank wealth management products that have not realized income. I don't know whether it is the bank's own wealth management products or the products of other financial institutions sold by the bank. Recently, the newly exposed clients, Ms. Wang and Ms. Yao, are engaged in wealth management in Ping An Bank (formerly Shenzhen Development Bank), 1 0.8 million yuan, and 500,000 yuan is converted into110,000 yuan. The customer's wealth management products are not banks, but investment companies. Therefore, when purchasing wealth management products, banks should carefully identify the institutions that produce wealth management products.
5. The author recently visited a number of bank branches, and there are few trust products. Banks seem reluctant to sell trust products publicly, perhaps because they prefer big customers to deposit or buy their wealth management products. Even if trust products can be bought in banks, the yield is generally low; In addition, some of them are also products of small trust companies. Such projects are generally recommended by banks. Trust companies are just channels. Small trust companies are cheaper and banks are willing to cooperate. Because banks need to earn a bigger profit margin. Banks are willing to sell on a commission basis, often because the commission is higher. At present, the commission of trust products is generally reduced, especially the products of trust companies with better brands, and banks are reluctant to sell them on a commission basis.
6. A large part of the funds raised by bank wealth management products are directly invested in trust projects, accounting for 1/3 of the trust scale. Because of the high threshold of trust investment, trust products are split into microfinance products in banks. As a result, banks can make a spread of about 5%, or even higher. Intermediary business is one of the three pillars of bank profits.
Three. Stocks, funds and securities products and trust products
1, the stock has returned to its original point in ten years, even private equity funds have suffered a total loss, and the securities market is full of sorrow. This is related to the current economic downturn and the lack of China's securities system. The securities market has become a tool for listed companies, brokers and investment institutions to circle money, but it has not really created value for shareholders. The downturn in the securities market has also seriously hurt securities trust products. At present, private equity trust products have suffered losses in an all-round way, and many securities private equity funds represented by Ping An Trust have also suffered losses in an all-round way, and many brilliant investment institutions and star fund managers have been eclipsed. China stock market needs to rebuild its image and financial confidence, and there is still a long way to go.
2. Some sensitive speculators withdraw their funds from the securities market in time and invest in trust instead. These people are very discerning and wise investors. They not only made money in stock market speculation, but also retired in time in trust investment to further preserve and increase value.
3. In the economic cycle, we can still cooperate with large financial institutions, choose well-branded fund managers and buy securities products. First, it is worry-free and labor-saving. Watching K-line charts and listening to stock reviews all day will affect work and life; Secondly, a well-branded fund company or fund manager, after all, is professional, far superior to us personally in technology and information, and the risk is much lower. The key is that the historical performance and investment style of fund managers can be more consistent with themselves.
Four. Insurance products and trust products
1, the purchase threshold is low. Insurance products can be bought in hundreds of thousands, even if the subscription threshold of products that emphasize financial management in insurance is 1 to 20 thousand, which is a popular product.
2, the highest security. Insurance assets are protected by law and have the function of tax-free debt-forcing. Ken Ryan, the leaders of Enron Corporation in the United States, spent $9.7 million on insurance before bankruptcy. This money is the only one that has not been frozen by the court. They live on this money for hundreds of thousands of years every year. Insurance can't change your destiny, but it can keep your destiny unchanged.
3. Low yield. The investment field of insurance funds is seriously limited, and insurance is mainly based on protection. Investment is not an advantage of insurance. Take a closer look at the investment fields of insurance: large agreed deposits, national infrastructure, etc. These are difficult to generate higher returns. 20 1 1, China ping an branch, the most generous insurance company in China, is only 3.75%. Look carefully at the medium dividend accumulation in dividend insurance of insurance products. It will take about 80 years for your premium to accumulate interest to 10 times. Including inflation, the money is sent to oneself, not to mention income.
It will take at least 10 years for insurance financing to recover its capital. Because of the early premium, a large part was given to insurance companies as sales commission and operating costs. The early survival fund seems to be higher than the premium, but in fact part of the premium has become your survival fund. If you surrender, you will lose money. This is a far cry from trust products. After all, the important function of insurance is protection, and investment is not its strength.
The annual dividend of insurance can be taken away at any time, which is a bit like a trust. But the overall income cannot be compared with the trust.
4. The liquidity is average. Although the insurance dividend can be taken away at any time, it is a loss to get back the principal in the early stage, that is, it is a loss to surrender. When the trust product expires, the principal will be fully recovered and the proceeds will be paid as agreed.
It is recommended to purchase insurance products mainly for protection, such as death insurance, critical illness insurance and hospitalization insurance. For those who don't have much money, it is ok to buy insurance dividend insurance if you prepare education savings for your children. In the long run, it is better than bank financing.
Verb (abbreviation of verb) Limited partnership funds and trust products
1, high investment threshold. Similar to trusts, most of them start at 6.5438+0 million yuan, and some will be lower, but they will cost hundreds of thousands. Usually a project has less than 50 limited partners.
2. Terminology, risk control and trust are similar. Recently, limited partnership products have increased, and these projects are basically screened by banks and trusts. In product design, trust design is basically adopted, such as structural design, introduction of financiers and guarantors, project evaluation and mortgage. Whether the product is the same as the trust. There are usually several reasons for not using the trust channel:
A. The counterparty fails to reach the entry threshold of the trust. For example, the real estate trust regulations must meet 432 conditions (four certificates and 30% of the investment principal, and the developer has at least the second-level qualification). The overall strength, financial reputation, asset liability and financial status of the financier do not meet the trust standards.
B. light asset financing entities. For example, in agriculture, mining and trade, financing parties generally do not have enough physical pledges. The pledge rate of trust is usually below 50%, so there are so many enterprises and so many objects that can be pledged.
C. intentionally avoiding the strict supervision of the trust. Trust projects are subject to due diligence, supervision and approval by CBRC, and trust companies are subject to financial supervision (trust companies generally send financial personnel to control the use of funds); Trust projects are still under the strict supervision of the public, and whatever happens will be hyped by the media. Project sponsors don't want their projects to be supervised so much.
3. High rate of return. Compared with the same type of trust products, it has higher income, greater risk and higher yield, which conforms to the reasonable law of investment and financial management.
4. The risk is high. It should be said that limited partnership is an important supplement to trust financing and also plays a certain role in promoting economic development. Limited partnership, as its name implies, is a partnership to do business and be responsible for its own profits and losses. Trust, trustee, financial agent. Therefore, its investment nature is fundamentally different. Choosing limited partnership is objectively more risky than trust. The risks of limited partnership mainly come from:
A, information asymmetry. Although limited partnerships also have projects similar to trusts, such as risk control and information disclosure. After all, it is not strictly regulated, and there will be information asymmetry. The sponsors of limited projects may hide some risks and information that are unfavorable to investors. For example, financial adjustment is only accumulating data, which is inconsistent with the actual situation; For example, information about the financial reputation or social reputation of some hidden financing parties, and so on.
B, in case the investment fails, it is self-financing, and there is no trustee to help you deal with it like a trust. Under the supervision of the society and the media, risky media will speculate, so that trust companies, financiers and even local governments can't afford to lose, and will try their best to help you resolve risks. Obviously, limited partnership investment does not have this advantage. If you really lose, you can only go to court slowly and lick the wound.
5. Investment advice. However, the form of limited partnership cannot be completely denied. Limited partnership still plays a positive role in revitalizing financial investment, including many high-quality projects.
A, try to choose your familiar investment field. Familiar with the project field, easy to judge the project value.
B, choose high-quality fund companies. A reputable fund company makes an objective judgment on the project.
C try to choose general partners or counterparties with social influence. Influential counterparties or general partners will pay more attention to maintaining their own brand effect and dare not default easily. Once something goes wrong, it is more likely to make a big deal.
D. choose a reputable financial institution. Financial institutions with good brands generally have their own risk control departments, and even limited partnership products will be evaluated independently, and they are also cautious about recommending products. After all, it has something to do with your own brand.
Swot Analysis of Case 2 of Financial Management I. Internal Advantages
1, the company vigorously promoted project development and sales, strengthened resource reserve, and achieved remarkable results in land reserve. The company has accumulated new land reserves with a total construction area of about 580,000 square meters and a total land investment of about 2.2 billion yuan. Above the industry average.
2. The company successfully completed the business plan formulated at the beginning of the year, and achieved a total contracted sales area of 233 1 000 square meters, with a contracted sales amount of 2.775 billion yuan.
3. Distribute a cash dividend of 65,438+0.55 yuan (including tax) to all shareholders for every 65,438+00 shares, with a cash dividend of 209,249,232.13 yuan and a profit of 209,249,232.13 yuan. Explain that the company attaches importance to the economic interests of the owners and attracts investors to invest; The wages payable to employees are not in arrears, which is attractive and motivating to employees. The company adheres to the people-oriented principle and respects the diversity of needs of customers, shareholders, employees, cooperative units and other stakeholders.
4. At the end of the year, there are no short-term loans due and unpaid. Among the long-term loans due within one year, there is no overdue loan extension amount. The asset-liability ratio is lower than the industry average, the long-term capital structures of 20 13 and 20 12 remain stable and reasonable, and corporate debt financing is relatively easy.
5. The current ratio of Yezhen Company in 20 12 years is 1.7, and it rises to 2.5 in 20 13 years. When the current ratio is kept at 2: 1, it shows that Ye Zhen's short-term solvency and strategy are reasonable. As a real estate company, the sales of real estate should affect its current assets, but the current ratio is still high. The debt pressure is light, and there is still a large financing space.
The company's accounts receivable turnover rate is high, accounts receivable are realized quickly, management efficiency is high, collection speed is fast, and account age is short. Effectively reduce collection costs and bad debt losses. The management efficiency of the company is very high. At the same time, it also makes the company's debt financing relatively easy.
Second, internal disadvantages.
1. The net cash flow generated by operating activities decreases, the sales rebate decreases due to the decrease in the sale of real estate, and the land price paid for new land is larger.
2. The inventory turnover rate is very low, only 0. 12. According to statistics, the inventory turnover rate of the real estate industry in 20 13 years is 0.2, and the company's real estate is unsalable, so the capital turnover may be more difficult.
3. Ye Zhen's net interest rate fluctuated at 20 13, with a large decline.
Third, external opportunities.
1. The concentration of the real estate industry is still low, and Yezhen Company is expected to increase its market share by integrating industry resources.
Four. External threats
1, the situation of tight liquidity and high capital cost is hard to change. The real estate industry has entered the era of large-scale competition, and the market concentration has been further improved. The market trend of 20 13 rising in volume and price is difficult to reproduce in the short term.
2. Policy risk: In 20 14 years, with the deepening of the impact of regulatory policies, market expectations may change, resulting in a decline in market turnover, which will bring direct pressure to the company's sales work and the land market will continue to maintain fierce competition.
3. Policy risk: In 20 14 years, the real estate control policies of first-tier cities and some second-tier cities with high pressure of rising house prices may be further upgraded, and it is difficult to cancel the policy of restricting purchases and loans in the short term. The time for the comprehensive levy of property tax is getting closer and closer, and the real estate industry is still the key regulatory area.
4. Capital risk: In 20 14 years, the indirect financing environment of the real estate industry will hardly improve substantially, and the cost of capital is still high, making it more difficult to withdraw sales funds. After four years of refinancing, the reopening of listed real estate enterprises will make the direct financing of real estate enterprises pile up like a mountain, and the capital market will face a test, which may push up the review standard of refinancing.
5. Capital risk: In 20 14 years, the indirect financing environment of the real estate industry will hardly improve substantially, and the cost of capital is still high, making it more difficult to withdraw sales funds. After four years of refinancing, the reopening of listed real estate enterprises will make the direct financing of real estate enterprises pile up like a mountain, and the capital market will face a test, which may push up the review standard of refinancing.
6, building materials and labor costs may rise, which will increase the company's construction and installation costs and reduce the company's profit margin.
Summary of swot analysis of financial management
SWOT analysis method is often used to formulate the group development strategy and analyze competitors. In strategic analysis, it is one of the most commonly used methods. SWOT analysis mainly includes the following aspects:
Analyze environmental factors
Using various investigation and research methods, this paper analyzes various environmental factors of the company, namely external environmental factors and internal capacity factors. External environmental factors, including opportunities and threats, are favorable and unfavorable factors that directly affect the company's development and belong to objective factors. Internal environmental factors, including advantages and disadvantages, are positive and negative factors in the development of the company itself. When investigating and analyzing these factors, we should not only consider the history and present situation, but also consider the future development.
Advantages are internal factors of the organization, including: favorable competitive situation; Adequate financial resources; Good corporate image; Technical strength; Economies of scale; Product quality; Market share; Cost advantage; Advertising offensive, etc.
Disadvantages are also internal factors of the organization, including: aging equipment; Management confusion; Lack of key technologies; Backward research and development; Lack of funds; Poor management; Product backlog; Poor competitiveness.
Opportunity is the external factor of the organization, including: new products; New market; New demand; Cancel foreign market barriers; Competitor mistakes, etc.
Threats are also external factors of the organization, including: new competitors; The number of substitute products has increased; Market tightening; Changes in industrial policies; Economic recession; Changes in customer preferences; Unexpected events, etc.
The advantage of SWOT method is that it considers the problem comprehensively, and it is a systematic thinking, which can put the question yes? Diagnosis? And then what? Prescription? Closely integrated, clear and easy to test.
Constructing SWOT matrix
The SWOT matrix is constructed by sorting the factors obtained in the survey according to their priority or influence degree. In this process, those factors that have a direct, important, massive, urgent and lasting impact on the company's development are given priority, while those indirect, secondary, rare, urgent and short-lived factors are ranked behind.
Make an action plan
After analyzing the environmental factors and constructing the SWOT matrix, the corresponding action plan can be made. The basic idea of making a plan is: give full play to advantages, overcome disadvantages, take advantage of opportunities and defuse threats; Consider the past, base on the present and focus on the future. Using the comprehensive analysis method of system analysis, the various environmental factors considered in the arrangement are matched and combined, and a series of optional countermeasures for the company's future development are obtained.
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