The current ratio is used to measure the ability of corporate liquid assets to become cash for repaying liabilities before the short-term debt expires. Generally, the higher the ratio of the current ratio ratio, the stronger the short-term solvency of the company; The lower the current ratio, the weaker the company's short-term solvency. As an important indicator of the financial situation, it should be maintained at an appropriate level. Traditional wisdom holds that a current ratio of 2 is appropriate.
According to the company’s financial report data compiled by Gasgoo.com, the average current ratio of 25 listed companies in the first half of 2011 was 1.18, which was lower than the suitable value in the traditional concept, but compared with the mid-term and end of 2010 (1.15 and 1.14). Slightly improved. Then the specific situation of the flow rate of each listed car company in China is shown below.
The current ratio is higher than 1.5
In mid-2011, there were four vehicle listed companies with a current ratio higher than 1.5, namely GAC Group, Haima Group, Jiangling Motors, and Lifan. Among them, the companies with a current ratio of 1.5 in mid-2010 and the end of the year were GAC Group and Jiangling Motors. The two companies' medium-term current ratios were 2.11 and 1.80 respectively.
The medium-term current ratios of Haima and Lifan in 2010 were 1.37 and 1.11, respectively. At the end of 2010, they rose to 1.87 and 1.78, respectively, and they all declined in the middle of 2011 to 1.80 and 1.57 (but still remained above 1.5). At the same time, the asset-liability ratio of these two companies continued to decline at these three time points: the debt ratio of Haima's shares fell from 46.7% in mid-2010 to 37.4% at the end of the year, and then to 36.2% in mid-2011; Lifan's assets and liabilities The rate dropped from 72.9% to 53.0% and then to 48.3%.
Current ratio is 1.0 to 1.5
In mid-2011, there were 14 listed companies with current ratios between 1.0 and 1.5 (Figure 1). Compared with the end of last year, there have been five rising liquidity ratios: Shanghai Automotive, Yaxing Passenger Car, China National Heavy Duty Truck, Jinlong Automobile and Dongfeng Motor. Among them, Yaxing and Shanghai Automotive rose to 1.21 and 1.24 from 1.06 and 1.10 at the end of last year.
Of the 14 listed car companies, the only medium-term current ratio that was consistent with the end of last year was Yutong Bus, which had a current ratio of 1.15.
Compared with the end of last year, there were 8 current ratios, namely FAW Car, Xingma Auto, Zhongtong Bus, Geely Automobile, Great Wall Motor, Shuguang Stock, Ankai Bus and Foton Motor. Among them, Foton Motors and Geely Automobile declined the fastest, falling from 1.19 and 1.33 to 1.05 and 1.21, respectively.
The current ratio is below 1.0. Generally, the current ratio is not less than 1, which is the bottom line of the enterprise's risk tolerance. Of the total number of vehicles listed in this article, seven of them are below 1.0 in mid-2011. They are Changan Automobile, CNAF Panthers, ST Gold Cup, JAC, FAW Xiali, GAC Changfeng and BYD. Among them, Changan Automobile and FAW Xiali increased their current ratios by 0.12 and 0.11 to 0.99 and 0.83 respectively compared to the end of last year.
Compared with the end of last year, the mid-term current ratio has not changed is the CNAC Panthers, ST Gold Cup, JAC and BYD. Among them, BYD has the lowest liquidity ratio (it is also the lowest among 25 listed companies), which is only 0.65, down from the middle of last year (0.79). Its debt-to-debt ratio was 63.4%, which was also lower than that of the middle period of last year (91.1%). In mid-2011, BYD’s current assets were 21.473 billion yuan, of which inventory was as high as 7.332 billion yuan, accounting for 34.1% of current assets; current liabilities were 32.82 billion yuan, of which trade payables and bills were 16.801 billion. Yuan, accounting for more than 50% (51.2%).
Among the seven car companies, the current ratio has decreased only at the end of last year, but Guangzhou Automobile Changfeng Co., Ltd. slightly dropped 0.1 to 0.82 in the middle of the year.
Note:
Asset-liability ratio refers to the ratio of the total liabilities of the company at the end of the year to the total assets. It shows how much of the company’s total assets are raised through liabilities. This indicator is a comprehensive indicator of the company’s debt level. At the same time, it is also an indicator to measure the ability of a company to use creditor funds to conduct business activities, and it also reflects the degree of security for creditors to issue loans.
According to the company’s financial report data compiled by Gasgoo.com, the average current ratio of 25 listed companies in the first half of 2011 was 1.18, which was lower than the suitable value in the traditional concept, but compared with the mid-term and end of 2010 (1.15 and 1.14). Slightly improved. Then the specific situation of the flow rate of each listed car company in China is shown below.
The current ratio is higher than 1.5
In mid-2011, there were four vehicle listed companies with a current ratio higher than 1.5, namely GAC Group, Haima Group, Jiangling Motors, and Lifan. Among them, the companies with a current ratio of 1.5 in mid-2010 and the end of the year were GAC Group and Jiangling Motors. The two companies' medium-term current ratios were 2.11 and 1.80 respectively.
The medium-term current ratios of Haima and Lifan in 2010 were 1.37 and 1.11, respectively. At the end of 2010, they rose to 1.87 and 1.78, respectively, and they all declined in the middle of 2011 to 1.80 and 1.57 (but still remained above 1.5). At the same time, the asset-liability ratio of these two companies continued to decline at these three time points: the debt ratio of Haima's shares fell from 46.7% in mid-2010 to 37.4% at the end of the year, and then to 36.2% in mid-2011; Lifan's assets and liabilities The rate dropped from 72.9% to 53.0% and then to 48.3%.
Current ratio is 1.0 to 1.5
In mid-2011, there were 14 listed companies with current ratios between 1.0 and 1.5 (Figure 1). Compared with the end of last year, there have been five rising liquidity ratios: Shanghai Automotive, Yaxing Passenger Car, China National Heavy Duty Truck, Jinlong Automobile and Dongfeng Motor. Among them, Yaxing and Shanghai Automotive rose to 1.21 and 1.24 from 1.06 and 1.10 at the end of last year.
Of the 14 listed car companies, the only medium-term current ratio that was consistent with the end of last year was Yutong Bus, which had a current ratio of 1.15.
Compared with the end of last year, there were 8 current ratios, namely FAW Car, Xingma Auto, Zhongtong Bus, Geely Automobile, Great Wall Motor, Shuguang Stock, Ankai Bus and Foton Motor. Among them, Foton Motors and Geely Automobile declined the fastest, falling from 1.19 and 1.33 to 1.05 and 1.21, respectively.
The current ratio is below 1.0. Generally, the current ratio is not less than 1, which is the bottom line of the enterprise's risk tolerance. Of the total number of vehicles listed in this article, seven of them are below 1.0 in mid-2011. They are Changan Automobile, CNAF Panthers, ST Gold Cup, JAC, FAW Xiali, GAC Changfeng and BYD. Among them, Changan Automobile and FAW Xiali increased their current ratios by 0.12 and 0.11 to 0.99 and 0.83 respectively compared to the end of last year.
Compared with the end of last year, the mid-term current ratio has not changed is the CNAC Panthers, ST Gold Cup, JAC and BYD. Among them, BYD has the lowest liquidity ratio (it is also the lowest among 25 listed companies), which is only 0.65, down from the middle of last year (0.79). Its debt-to-debt ratio was 63.4%, which was also lower than that of the middle period of last year (91.1%). In mid-2011, BYD’s current assets were 21.473 billion yuan, of which inventory was as high as 7.332 billion yuan, accounting for 34.1% of current assets; current liabilities were 32.82 billion yuan, of which trade payables and bills were 16.801 billion. Yuan, accounting for more than 50% (51.2%).
Among the seven car companies, the current ratio has decreased only at the end of last year, but Guangzhou Automobile Changfeng Co., Ltd. slightly dropped 0.1 to 0.82 in the middle of the year.
Note:
Asset-liability ratio refers to the ratio of the total liabilities of the company at the end of the year to the total assets. It shows how much of the company’s total assets are raised through liabilities. This indicator is a comprehensive indicator of the company’s debt level. At the same time, it is also an indicator to measure the ability of a company to use creditor funds to conduct business activities, and it also reflects the degree of security for creditors to issue loans.
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