中国医药上市公司偿债能力探析——以瑞康医药为例

Analysis of Debt Repayment Ability of Chinese Pharmaceutical Listed Companies—Taking Ruikang Pharmaceutical as an Example

摘要: 针对瑞康医药近年来盈利能力持续减弱严重影响其偿债能力的客观实际，结合公司年报财务指标和会计数据，采用文献研究法和案例分析法等，在综合阐述国内外学者对有关财务风险和企业偿债能力研究成果基础上，介绍了瑞康药业资产与负债、经营财务指标与会计数据等状况，重点剖析了瑞康药业的偿债能力。旨在为瑞康药业以及其他医药商业强化应收账款和成本控制、促进现金流增长，降低负债水平和提升偿债能力提供理论指导和学术借鉴。

Abstract: In view of the fact that the continuous weakening of the profitability of Ruikang Pharmaceutical in recent years has seriously affected its ability to repay its debts, combining the financial indicators and accounting data of the company’s annual reports, this paper adopts the methods of literature research and case analysis, etc., on the basis of summarizing the research achievements of domestic and foreign scholars on financial risk and enterprise debtpaying ability, this paper introduces the assets and liabilities, operating financial indexes and accounting data of Ruikang Pharmaceutical Group, focus on the analysis of Ruikang Pharmaceutical solvency. The purpose is to provide theoretical guidance and academic reference for Ruikang Pharmaceutical and other pharmaceutical commercial companies to strengthen accounts receivable and cost control, promote cash flow growth, reduce debt level and improve solvency.