Financial Statement Analysis

This article compiles financial statement knowledge the author has accumulated over time and is uploaded to Zhihu solely for personal backup—not for theoretical explanation. Three core financial statements: Balance Sheet, Income Statement, Cash Flow Statement. Five key metrics: Current Ratio > 2; Debt-to-Asset Ratio 2. ・2. Total assets must exceed total liabilities to avoid insolvency. → Debt-to-Asset Ratio = Total Liabilities / Total Assets; ≥100% indicates insolvency. ・3. Price-to-Earnings Ratio (P/E = P/EPS): Stock price divided by earnings per share (EPS). → Generally, a lower P/E suggests a relatively low share price and high EPS, implying a shorter investment payback period, lower investment risk, and higher stock investment value. → (How to judge whether a P/E is high or low? Compare it with peers in the same industry.) ・4. Price-to-Book Ratio (P/B = Market Price / Book Value per Share). ・5. Return on Equity (ROE): Net profit divided by shareholders’ equity. Analyze over 3- and 5-year horizons; generally, ROE > 10% is considered strong. ・6. Earnings Per Share (EPS); Book Value Per Share. ・7. Share Capital: For example, BOE’s stock price has remained stable around RMB 3–4, with minimal volatility—largely due to its enormous share capital (total shares outstanding: 38.2 billion), making price manipulation difficult. ・8. Equity Multiplier: The reciprocal of the equity ratio, reflecting how much shareholders’ equity contributes to total assets. ・9. ROIC (Return on Invested Capital): Measures profitability generated from core business operations. ・10. Accounts Receivable Turnover (times or days): Assesses sales efficiency and collection capability. How to locate a company’s financial statements: Search “[Company Name] + Balance Sheet” on any search engine to retrieve its balance sheet. How to understand a company: Securities firm research reports + “[Company Name] + PDF” (e.g., “CITIC Securities + MingXX + PDF”). Alternatively, use the financial data platform “Wencai.com”. Key valuation metrics affecting company valuation: P/E and P/B ratios. How to increase a company’s valuation? Backdoor listing: An unlisted company injects capital into an underperforming listed company, becoming its controlling shareholder, thereby achieving listing via asset injection. Buying a stock: Examine the company’s net assets (from the balance sheet) and total issued shares (e.g., BOE’s low share price is offset by its massive share count, hindering price appreciation). Stocks prefixed with asterisks (*), “ST”, or “XD” are generally undesirable. How to assess corporate strength during bidding or job applications: Registered vs. paid-in capital; number of employees covered by social insurance; company establishment date; source of initial funding or flagship product; completeness of CI (Corporate Identity) for software firms. Avoid registering companies using personal ID cards. Pension calculation: Labor Law. Corporate listing requirements: Social insurance records, employment contracts, and employer-employee relationships of equity subscription participants must all be with the same company.

Blue Low-Carbon Ammonia Industry: Current Status, Trends, Outlook, and Strategic Recommendations Report 2026

3.8.1 Ma’aden: Basic Information, Blue Low-Carbon Ammonia Production Base, Headquarters, Competitors, and Market Position 3.8.2 Ma’aden: Blue Low-Carbon Ammonia Product Specifications, Technical Parameters, and Market Applications 3.8.3 Ma’aden: Blue Low-Carbon Ammonia Sales Volume, Revenue, Pricing, and Gross Margin in the Chinese Market (2021–2026) 3.8.4 Ma’aden: Company Profile and Core Business Activities 3.8.5 Ma’aden: Latest Corporate Developments 3.9 PAO NOVATEK 3.9.1 PAO NOVATEK: Basic Information, Blue Low-Carbon Ammonia Production Base, Headquarters, Competitors, and Market Position 3.9.2 PAO NOVATEK: Blue Low-Carbon Ammonia Product Specifications, Technical Parameters, and Market Applications 3.9.3 PAO NOVATEK: Blue Low-Carbon Ammonia Sales Volume, Revenue, Pricing, and Gross Margin in the Chinese Market (2021–2026) 3.9.4 PAO NOVATEK: Company Profile and Core Business Activities 3.9.5 PAO NOVATEK: Latest Corporate Developments 3.10 ADNOC Group 3.10.1 ADNOC Group: Basic Information, Blue Low-Carbon Ammonia Production Base, Headquarters, Competitors, and Market Position 3.10.2 ADNOC Group: Blue Low-Carbon Ammonia Product Specifications, Technical Parameters, and Market Applications 3.10.3 ADNOC Group: Blue Low-Carbon Ammonia Sales Volume, Revenue, Pricing, and Gross Margin in the Chinese Market (2021–2026) 3.10.4 ADNOC Group: Company Profile and Core Business Activities 3.10.5 ADNOC Group: Latest Corporate Developments 3.11 LSB Industries 3.11.1 LSB Industries: Basic Information, Blue Low-Carbon Ammonia Production Base, Headquarters, Competitors, and Market Position 3.11.2 LSB Industries: Blue Low-Carbon Ammonia Product Specifications, Technical Parameters, and Market Applications 3.11.3 LSB Industries: Blue Low-Carbon Ammonia Sales Volume, Revenue, Pricing, and Gross Margin in the Chinese Market (2021–2026) 3.11.4 LSB Industries: Company Profile and Core Business Activities 3.11.5 LSB Industries: Latest Corporate Developments 3.12 Equinor 3.12.1 Equinor: Basic Information, Blue Low-Carbon Ammonia Production Base, Headquarters, Competitors, and Market Position 3.12.2 Equinor: Blue Low-Carbon Ammonia Product Specifications, Technical Parameters, and Market Applications 3.12.3 Equinor: Blue Low-Carbon Ammonia Sales Volume, Revenue, Pricing, and Gross Margin in the Chinese Market (2021–2026) 3.12.4 Equinor: Company Profile and Core Business Activities 3.12.5 Equinor: Latest Corporate Developments 3.13 Uniper 3.13.1 Uniper: Basic Information, Blue Low-Carbon Ammonia Production Base, Headquarters, Competitors, and Market Position 3.13.2 Uniper: Blue Low-Carbon Ammonia Product Specifications, Technical Parameters, and Market Applications