(Tiểu Luận) Analysis Of The Financial Situation Of Hai Haconfectionery Joint Stock Company (From 2015 To 2019).Pdf

Current solvency of Friendship Food Joint Stock CompanyHảiHà Bibica HữuNghị Figure 2.. Must-collect rotation of customers of Hai Ha Confectionery Joint Stock Customer acquisition must-

UNIVERSITY OF DA NANG UNIVERSITY OF ECONOMICS

Group: 02 Student performing:PhamMinhTrang

NguyenThiXuanThuLuongHuyHoangLeHuynhKhanhTienVoThiBaoUyen

Da Nang, April 9 2022.,

TABLE OF CONTENTS

I.OVERVIEW

1.CompanyIntroduction

2.Environmentinsidethecompany

2.1.Organizationalstructure

2.2.People

2.3.Mediumandlong-termdevelopmentstrategy

2.4.Competitiveadvantage

3.Environmentoutsidethecompany

3.1.Businessenvironment

3.2.Technologytrends

3.3.Cultureandsociety

3.4.Economy

3.5.Politics

3.6.Competitivesituation

II.ANALYTICALFRAMEWORK

1.Analyticalmethods

2.Analyticaltools

2.1.Solvencyparameters

1.1.Debtparameters

1.2.Profitabilityparameters

1.3.MarketParameters

III.ANALYSISREVIEW

1.Advantagesanddisadvantages

1.1.Points



Table10.Must-collectrotationofcustomersofHaiHaConfectioneryJointStockCompany

Table11.Customermust-collectrotationofBibicaJointStockCompany

Table12.Customermust-collectrotationofFriendshipFoodJointStockCompanyTable13.Thecyclemustcollecttheaveragecustomeroftheindustry

Table24.InventoryconversioncycleofFriendshipFoodJointStockCompanyTable25.Industryaverageinventoryconversioncycle

Table26.Round-uppaysellersofHaiHaConfectioneryJointStockCompanyTable27.PayablespinofBibicaJointStockCompany

Table28.Theround-tripmustpaythesellerofFriendshipFoodJointStockCompanyTable29.Thecyclemustpaytheaverageselleroftheindustry

Table30.Debt-to-equityparametersofHaiHaConfectioneryJointStockCompany

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Table32.Debt-to-equityparametersofFriendshipFoodJointStockCompanyTable33.Industryaveragedebt-to-equityparameters

Table34.DebtparametersofHaiHaJointStockCompany

Table35.BibicaJointStockCompany Debt Parameters

Table36.FriendshipCompanyDebtParameters

Table37.Averageoftotaldebt/Totalassetsandshort-termdebtindex/TotaldebtTable38.NumberofloanguaranteesofHaiHaConfectioneryJointStockCompanyTable39.NumberofloanguaranteesofBibicaJointStockCompany

Table40.NumberofloanguaranteesofFriendshipFoodJointStockCompanyTable41.ThenumberoftimestheaverageinterestrateguaranteedintheindustryTable42.HaiHa'sprofitabilityparameters

Table51.SharepriceonthetreasuryofFriendshipFoodJointStockCompanyTable52.Sharepriceontheindustryaveragebudget



 .Thediagramshowsthepositionandtimefluctuationsofthequicksolvency coefficient

Figure4

 .Diagramshowingthepositionandfluctuationsovertimeofthecustomer receivablerotationcoefficient

Figure5

 Diagramshowingtrendsandfluctuationsoftheaveragecollectionperiod Figure6

 Diagramofpositionandfluctuationsofaverageinventoryperiodparameters Figure7

 .Diagramofpositionandfluctuationsof inventoryconversioncycle parameters

Figure8

 .Mapofthepositionandfluctuationsofthe rotationparameterspayabletothe seller

Figure9

 .Diagramshowingthepositionandtimefluctuationsofdebt-to-equity parameters

Figure10

 .DiagramofthepositionandvolatilityoftheTotalDebt/TotalAssets index

Figure11

 Diagramofpositionandvolatilityoftheshort-termdebtindex/Totaldebt Figure12

 Diagramshowingthepositionandfluctuationsovertimeoftheloan guaranteeparameters

2 Environment inside the company

2.1 Organizational structure

1

Figure 1 Organization chart

2.2 People

Peopleinthebusinessfromtheboardofdirectorstoemployeesofeachdepartmentmusthavealltheworthyqualitiessuchas:Confidence,humility,trustworthiness,optimism,hardwork,honesty,richincreativeideas,adaptableandbreakthrough

2.3 Medium and long-term development strategy

-MaintainingthescaleandspeedofdevelopmenttomaintainitspositionasoneofthelargestconfectionerycompaniesinVietnam

-Continuetodevelopavarietyofbothcakesandsweetsonthebasisofmakingthemostofthestrengthsthathavemadethenameofthecompanyandabsorbingnewtechnologytrendstoserveasadevelopmentpremiseforthenextyears

-Investinequipmenttoproducenewproductsonthebasisofcarefullyresearchingmarketdemand

-Continuetoresearchandinnovatedesigns,improveproductquality,contributingtoincreasingtheprofitrevenueofthecompany

-Researchchangesinhigh-endpackagingdesignsandaddspackagingspecificationsofexistingproductstodiversifyproductstomeetmarketdemands.-Continuetosupportthepromotionofproductconsumptioninmarketareaswherethecompany'sproductsareweakandpromoteexports

-InvestinmarketingadvertisingtoenhancetheHAIHACObrandinthemarket

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2.4 Competitive advantage

-Beproactiveinthesupplyofrawmaterialsbytakingadvantageoftheavailablerawmaterialsinthecountryandsigninglong-termcontractswithdomesticandinternationalsuppliersinreasonablequantitiestoalwaysensurethesourceofrawmaterials,nottobetoodependentonsupplierswhenthemarketisvolatile.-Extensivedistributionchannel:withmorethan200agents,thecompany'sdistributionsystemisratedthestrongestintheconfectioneryindustry.Ingeneral,theagentsarerelativelyloyal,theagencysystemofthecompanyconcentratedmainlyintheNorthwillcreatefavorableconditionsforthecompanytodobusinessinthismarket

-Competitiveprice:HaiHa'sproductsareaimedataffordablecustomers,sothereisarelativelylowpricethatcanbringacompetitiveadvantagetothecompany

3 Environment outside the company

3.1 Business environment

-Inrecentyears,ourcountry'seconomyhasgrownrapidly.People'sliveshavegraduallyimproved.Withpeople'slivingstandardsincreasing,themarketdemandforconfectioneryisalsoincreasing

-Therecentincreaseofdomesticallyproducedgoodsshowsthatsomedomesticproductscancompetewithimportswithreasonabledesigns,goodquality,suitableprices,meetingtherequirementsofVietnameseconsumers.HaiHaisoneofthecandybrandsinthecountrychosenbymanyconsumers

-Inthefaceoftheincreasingdemandforhigh-qualitycandyproducts,beautifuldesigns,convenienceathomeandabroad,HAIHACOaimstoinnovateequipmentanddevelopnewproductlinestomeetthemarketdemand,technologicalinnovationofthecompanyinaccordancewithmarketneeds,andstrivetomaintainitspositionasoneoftheleadingcompaniesinvietnam'sconfectioneryindustry

3.2 Technology trends

-Withthedevelopmentofthe4.0eratoday,technologyisafactorthatrequiresbusinessestopayattentionbecausewithnewtechnology,modernwillproducenewproductsofmorequalityandproductivity

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3.3 Culture and society

ConfectioneryisnotanessentialhumanneedbutitisaproductinheritingthetraditionofculinaryidentityofVietnamingeneralandofotherregionsin

particular.Therefore,theculturalidentityofcustomsandlifestylesofeachregiongreatlyaffectsthedemandforconfectioneryconsumption.Northernerstendtobemoreinterestedintheformofpackagingandmoderatelysweettaste,whilepeopleintheSouthtendtobemoreinterestedinsweetness,fruitflavor.Besidesthosewhostillbelieveindomesticgoods,therearestillthosewhopreferforeigngoods,sayingthatforeigngoodsareofhigherqualitythandomesticgoods.Thisisreallyahindrancetothecompanywhenenteringthehigh-endgoodsmarket

3.4 Economy

Inrecentyears,ourcountry'seconomyhasachievedrapidgrowth.People'sliveshavegraduallyimproved.Inaddition,risingincomedisparitiesoverthedistanceleadtomoreandmoreconsumersacceptinghighprices,someacceptingonlymedium-andlow-pricedproducts.Withthestandardoflivingofthepeopleisincreasing,themarketdemandforconfectioneryincreasinglyhastomeetinquantity,qualityisincreasing,richerdesigns,ensuringfoodhygieneandsafety

3.5 Politics

HaiHaConfectioneryJointStockCompanyisorganizedandoperatedinaccordancewiththeEnterpriseLaw2005.Inaddition,theCompany'sactivitiescomplywiththeEnterpriseLawandotherrelevantlawsandtheCompany's

Charter.AllactivitiesoftheCompanyaregovernedbytherevisedCompany'sCharterwhichwasapprovedbytheGeneralMeetingofShareholdersonMarch24,2007.Inaddition,theHAIHACObrandhasbeenregisteredforindustrialprotectioninVietnamandsomeothercountriessuchasChina,Russia,Singapore, Thecompanyrealizedthatitsadvantageispoliticalstability,prioritizingpoliciesandotherfavorable

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3.6 Competitive situation

Tranhcompetitor

Theconfectionerymarketinourcountrynowhasquitefiercecompetition.Inadditiontomorethan30medium-andlarge-sizedconfectioneryfactories,therearehundredsofsmallproductionfacilities.Itcanbementionedthatsomeofthecompany'smaincompetitorssuchasHaiChâuConfectioneryCompany,TrangAnConfectioneryCompany,KinhDoCo.,Ltd.

Market share

Thepriceisstillhigh

5

channelBienHoa Central-

southern

Biscuits,hard

candy,soft

candy,snacks,chocolate

Friendship Northern cannedcakes,

cookies,hard

candy

averagesellingprice,average

quality

Thequalityofcakesisstilllimited,thereputationisnothigh

Table 1 Comparing competitors

Potentialrivals

Theconfectioneryindustryhasafairlysimpletechnicaltechnologyprocess,withrelativelylittleinvestmentcomparedtosomeotherindustries.Ontheotherhand,currently,theordinancesandregulationsonfoodhygieneandsafetyaswellasthemanagementoftheStateandagenciesfortheconfectioneryindustryarestilllooseandlackstrict.Therefore,thebarriertoenteringtheconfectioneryindustryisstill

low.Therefore,theconfectioneryindustrydesperatelyneedsthesupportofthestateinplanninginvestment,payingattentiontotheproductionprocess,circulationanduseofconfectioneryproductstoensurenutrition,foodhygieneandsafetyissues,healthforthepeopleandensureahealthycompetitiveenvironmentamongmanufacturers

6

II ANALYTICAL FRAMEWORK

1 Analytical methods

-Comparetheenterprisedataserieswiththeindustryaveragedataseriesovertime

Table 2 Current solvency of Hai Ha Company

Table 3 Current solvency of Bibica Joint Stock Company

8

Table 4 Current solvency of Friendship Food Joint Stock Company

HảiHà Bibica HữuNghị

Figure 2 Chart showing the position and time fluctuations of the current payment

index

9

County Current

HảiHà Bibica HữuNghị

Figure 3 The diagram shows the position and time fluctuations of the quick solvency

coefficient.

Table 9 Industry average fast payment coefficient

Comment: Intheperiodof2015-2016,haihacompany'sabilitytopayquickly

increasedto2017decreased.Inthefollowingyearsfrom2017to2019,thisindicatorgraduallyincreasesovertheyears.ThefastsolvencyofHaiHaConfectioneryJointStockCompanyislowerthantheindustryaverage.Thisindicatorshowsthatthecompany'ssolvencyisnotgood,reflectingthatthecompanycanpaydebtswithshort-termassetsthatcanbeconvertedintomoneyquiteslowly

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Customer acquisition must-be cycle

Table 10 Must-collect rotation of customers of Hai Ha Confectionery Joint Stock

Customer acquisition must-be cycle

HảiHà Bibica HữuNghị



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Figure 4 Diagram showing the position and fluctuations over time of the customer

receivable rotation coefficient

Table 13 The cycle must collect the average customer of the industry

Comment:Basedonthechartwesee,thecustomerturnoverofHaiHaConfectioneryJointStockCompanyincreasedintheperiodof2015-2017butby2018-2019tendstodecrease.Theaverage5-yearcustomerturnoverislargerthanthecompetitionandlargerthantheindustryaverage.Thisshowsthatthefasterthedebtrecoveryrateoftheenterprise,thehighertheabilitytoconvertreceivablestocash,whichhelpstheenterprisetoimprovecashflow,creatingtheinitiativeinfinancingworkingcapitalinproduction

Average collection period

Table 14 Average collection period of Hai Ha Confectionery Joint Stock Company



13

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Table 15 Average collection period of Bibica Joint Stock Company

Table 16 Average collection period of Huu Nghi Joint Stock Company

The average collection period

HảiHà Bibica HữuNghị



Figure 5 Diagram showing trends and fluctuations of the average collection period

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Hai Ha County Bibica Friendship

Industry average 5-year

Average inventory period

Table 18 Average inventory period of Hai Ha Company

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Table 19 Bibica Company Average Inventory Period

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Table 20 Average inventory period of Friendship Company

HảiHà Bibica HữuNghị

Figure 6 Diagram of position and fluctuations of average inventory period

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Inventory conversion cycle

Table 22 Inventory conversion cycle of Hai Ha Confectionery Joint Stock Company

Table 23 Inventory conversion cycle of Bibica Joint Stock Company

Table 24 Inventory conversion cycle of Friendship Food Joint Stock Company

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2015 2016 2017 2018 2019 0

Inventory conversion cycle

HảiHà Bibica HữuNghị

Figure 7 Diagram of position and fluctuations of inventory conversion cycle

The spin must be paid to the seller

Table 26 Round-up pay sellers of Hai Ha Confectionery Joint Stock Company

Table 27 Payable spin of Bibica Joint Stock Company

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Table 28 The round-trip must pay the seller of Friendship Food Joint Stock Company

The spin must be paid to the seller

HảiHà Bibica HữuNghị

Figure 8 Map of the position and fluctuations of the rotation parameters payable to

the seller.

Table 29 The cycle must pay the average seller of the industry

Comment:HaiHaConfectioneryJointStockCompany'spayableroundtendsto

increasegraduallyfrom2015-2017butdecreasesin2018-2019.ThisindexofHaiHaislowerthanthecompetitionandlowerthantheindustryaverage.Thisindicatorshowsthatbusinessespayslowlyandmisappropriatesuppliercapitalmorethanothercompaniesintheindustry.Thishasnothelpedthecompany'sfinancialpolicymuch

1.1 Debt parameters

Debt-to-equity parameters

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Table 30 Debt-to-equity parameters of Hai Ha Confectionery Joint Stock Company

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Table 31 Debt-to-equity parameters of Bibica Joint Stock Company

Table 32 Debt-to-equity parameters of Friendship Food Joint Stock Company

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HảiHà Bibica HữuNghị

Figure 9 Diagram showing the position and time fluctuations of debt-to-equity

parameters

Industry average Debt-to-

Debt-to-asset parameters

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Table 34 Debt parameters of Hai Ha Confectionery Joint Stock Company



Table 35 Bibica Joint Stock Company Debt Parameters

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