金融投资模拟2013090104VIP

Team number: 201309010 金融投资模拟实验课程报告公司分析报告学 院：金融管理学院专 业：财务管理（中加合作）学 号：1012039-1012042组 号：201309010学生姓名：叶明辰,朱益奇,胡文博,王德超指导教师：傅连康,邓鸣茂2014 年 1 月Investment Simulation GameREPORT OF CURRICULUMCompany Analysis ReportEric Ye (Ye Mingchen)Paul Chu (Zhu Yiqi)Spencer Hu (Hu Wenbo)Alfred Wong (Wang Dechao)Author NoteCorporate Finance Bachelor Degree, Sino-Canadian Joint Programme, Shanghai University of International Business and Economics with Douglas College.This paper is submitted on January 3 to Professor Fu and Deng in partial fulfillment of 612.015.201 Investment Simulation Game.ContentsCompany Analysis -China Unicom Ltd.I. Corporate general situation 1. Corporate ProfileChina United Network Communications Group Co.Ltd (China Unicom) was officially established on 6 January 2009 on the basis of the merger of former China Netcom and former China Unicom. It has subsidiaries in 31 provinces (autonomous regions and municipalities) across China and many countries and regions around the world. It is the only Chinese telecom operator listed on the stock exchanges in New York, Hong Kong and Shanghai. As of the end of 2008, the total assets of the Company reached 500.09 billion Yuan and the number of employees stood at 463,000. With a modern communications network characterized by nationwide coverage and global reach, China Unicom mainly operates fixed and mobile communications service, domestic and international communications facilities, satellite IPLC service, data communications service, network access service, value-added telecom services and system integration service related to information and communications services. On 7 January 2009, China Unicom was granted a WCDMA license.By the end of 2008, China Unicom had 273 million subscribers, among which the broadband subscribers totaled 30.16 million, GSM subscribers 133 million and fixed-line (including PHS) subscribers 109 million. China Unicom was among the Top 500 in the world in terms of its revenue, and ranked in the top of the world leading telecom operators in terms of its customer base and market capitalization of its listed company.Aiming at providing comprehensive and high-quality broadband communications and information services for customers, China Unicom has been speeding up the construction of mobile communications network, strengthening the development of fixed broadband network, and promoting broadband-based fixed and mobile networks. Committed to raising its overall competitiveness and sustainable development capacity and becoming a world leading provider of broadband communications and information services, China Unicom will further enhance the development of its services, expand its business scope and improve the quality of service while adhering to the market-oriented and customer-focused principle and emphasizing the development of mobile broadband Internet services.II. Strategy Analysis1. General Telecom Environmental AnalysisAny business activity and competition in a certain environment, exist outside the corporate boundaries will have an impact on the industry (same area). General environmental factors are: political, economic, technological, social, cultural, natural and other. The following analysis of the impact of these five major factors on Chinas telecommunications industry.1.1the political environmentCurrently, a greater impact on various industries and political factors that is generally present in the relevant legislation and industrial policy-oriented fields. Especially in terms of industrial policy , which is in most respects the general business environment seriously, because the fiscal, financial , tax and interest policies directly affect the cost of the investment , while the industry access conditions and determine the scope of business investment , so the governments industrial policy is able to form a strong guidance on investment .Recently new policy is released, when China Unicoms mobile users call mobile users (excluding special numbers Section TD-SCDMA 157,188 users) China Mobile, the basic telecom operators caller shall vest settlement fees paid by China Mobile, the current Yuan per minute reduced to RMB 0.06 Yuan 0.04 Yuan per minute. No doubt, this will make China Unicom pay less settlement fee.1.2 The economic environmentGeneral economic environment is the most direct experience of environmental factors. It mainly affects the pace of development and the development of space from the operating costs and profitability in two ways.First, the development of Chinas telecom industry, thanks to the rapid development of Chinas economy as a whole. Accompanied by high GDP is to improve peoples living standards, household disposable income increases. 2005 Chinas telecom business revenue totaled 579.9 billion Yuan, an increase of 11.7%. Investment in fixed assets totaled 203.34 billion Yuan, down 4.8%. Total telephone subscribers reached 7.43861 one hundred million, of which 3.50433 one hundred million fixed telephone; mobile phone users reached 3.93428 million. Total number of users has been ranked first in the world. This shows that the industrys growth pattern will scale expansion to efficiency -led transformation, namely the driving force of Chinas telecommunications industry will mainly rely on market -driven and investment-driven to innovation-driven transformation.Secondly, as technology advances, Chinas telecommunications industry from relying mainly on the fixed telephone growth into relying on mobile phones and broadband growth. As of June 2005, the number of Internet access , China has more than 100 million , of which broadband access users has more than 30.1 million. Telecommunications industry has a great market potential. And Chinas telecommunications companies are actively seeking bringing in and going out into the international market and with the industry from the government, information, finance, financial support.1.3 Technical environmentThe main content of the technical environmental analysis are: technical level, technology trends, the impact of technology on the industry, the social impact and the impact of information technology and so on.With the integration of the rapid development of computer , communications and information processing technology, electronics and information technology, and gradually entered the information society . Technology is the telecom industry s strong support , including from major telecom network construction backbone network , metropolitan area network , data networks , optical networks , such as new construction and expansion, to build business systems including billing systems, network management systems, customer service systems, integrated business system and so on, every aspect of innovation in information technology platform is based . With the continuous development of the second phase of the competition soon telecommunications and data communications and value-added services, software, hardware, and application developers and other IT companies need to add more to the telecom industry value chain, and communications equipment manufacturers, efforts to telecom operators and end consumers together to promote the value of the whole industry.Slow growth in recent years has been the scale of hardware procurement will also be with the rise of 3G, 4G, NGN and other emerging applications while expanding, is expected to reach 22.01 billion Yuan. In addition, broadband will be very important to the future of the telecommunications industry and the characteristics of the times; future software applications will be through the soft zone, regionalization IT backbone to your desktop, can be customized according to the needs of a wide variety of software and applications services; after issuing 3G licenses, telecom operators will change the role of full-service operators and content providers.1.4 socio-cultural and natural environmentChinese vast market has always been the undisputed degree, plus the processes of globalization; the popularity of the Internet is changing the Chinese peoples way of life. Telephone communication network has become the first choice of communication, mobile phones from the beginning of reform and opening up Chinas luxury goods become part of everyday life. With the maturity of Chinas telecommunications consumer awareness, customers not only need to have service, standardized services, but the request made of high-quality personalized service. These subtle changes not only affect the domestic telecom operators, but also affect the investors attitude.In summary, although the general business environment can not be controlled, can not be affected, but businesses can understand the environmental characteristics and trends, the correct understanding of the use of environmental opportunities.2. China Unicom Strategic Management2.1 The allocation of resourcesChina United Telecommunications Co., the countrys 30 provinces, autonomous regions and municipalities set up more than 300 branches and subsidiaries. Operating telecommunications business from the inception of mobile phones (GSM) and paging to the current mobile phones ( including GSM and CDMA networks ) , long-distance calls , local calls, data communications ( including Internet services and IP telephony ) , value-added telecom services, wireless paging and other businesses with the main business -related . At present, the company has more than 2,000 employees and total assets of 8.4 billion Yuan.Depending on the profitability of the business, the relationship between the business development potential and other factors, the allocation of resources, so that the limited resources to achieve maximum effect. The following figure illustrates the main business of China Unicom users situation, it can be inferred that the flow of resources generally.An innovative mobile value-added service instead of tariff competitionMobile VAS mobile operators in the mobile basic services (voice services) on the basis of, for different user groups and the opening of the market demand for users to choose to use the services. Mobile value-added services is the result of market segments , which fully exploit the potential of mobile networks to meet the diverse needs of users , so the market has achieved great success. It is predicted that Chinese mobile value-added services market will grow at an annual growth rate of over 30%. China Unicom, although the overall revenue growth compared with other major telecom operators is slow, but its value-added services revenue growth rate is fastest.2 Service Technical advantages: Relying on the advantages of the CDMA network, and take the road of business innovationChina Unicoms CDMA network upgrade faster, due to the CDMA network has wide coverage , fast transmission and other advantages, China Unicom has strong competitive strength in the ocean , police and other groups of customers , and has a clear competitive advantage in the wireless data services . Contrast Unicom and China Mobile, although the voice business, China Unicom is no clear winner, but in the CDMA business, China Unicom has a strong advantage. This is China Unicoms comparative advantage. Unicoms CDMA network can rely on to provide mobile value-added services; China Unicom can increase competition for negotiating leverage and mobile users. Meanwhile, investment in China Unicom 3G competition is relatively less competition for this time of China Unicom, the first to capture market opportunities.At the same time, China Unicom also accelerates 4G network building work. Using better service to compete with other telecom corporate.2.2 SynergiesChina Unicom has been focusing on providing customers with quality and efficient services. After pioneered low counters that buy through other services, and the introduction of bank payment of the bill, by mail, fax, e-mail sent to a user free service initiatives such as single words. While continually improving the level of optimization, strengthen the operation of the whole network maintenance and management to ensure the normal operation of the whole network. China Unicom is also actively tracking the latest developments in telecommunications technology worldwide , has introduced a new business ; adhere to establish a new mechanism to build a new network , the use of high-tech, high growth , the development of integrated services , the development of strategies to mobile communications, data communication , focusing on international and domestic long-distance communications business , deepen reform, strengthen management, improve service, increase efficiency, enhance the comprehensive strength rapidly , by leaps and bounds .3. Analysis of the industry environmentPorter five force modelBargain power of buyerThreaten of substitutesThreaten of new entranceBargain power of supplierCompletiverivalry in industry3.1 Analysis of the external environmentkey external factorsweightgradeWeighted gradeweighted score corresponding weightsOpportunity Consumers ability to attain value brand recognition0.124.00.48Economies of scalethe degree of control of operating costs0.133.50.455Domination on Channels of distributionSituation of distributions disposable0.133.50.455suppliersThe degree of cooperation with equipment suppliers or technology providers0.103.50.350.481.743.625Threat sThreat of substituteOther corporate s similar products threaten to profits 0.083.00.24Market developmentnew products, technology that can be developed 0.092.90.261Existing market competitive strengthmarket share0.162.50.4Policy impacttelecommunications regulation impala on the enterprise0.052.50.125Product differentiationTechnical level and quality of service0.092.50.225Potential entrants under high entry barriersProfit affected by new entrants influencers0.052.30.1150.521.3662.627Total1.003.1063.2 Internal Factorskey external factorsweightgradeWeighted gradeweighted score corresponding weightsAdvantageEquipment0.103.00.3Enterprise Culture0.073.10.217Product C/P0.123.10.372Consumer loyalty0.113.40.374R & D capabilities and technical level0.153.50.5250.551.7883.251Disadvantagescost control mechanism0.092.50.225Post sale Service0.112.50.275Employee satisfaction and cohesion0.092.70.243Leverage level0.062.90.174Sales channel0.102.90.290.451.2072.6823.3 SWOT comprehensive analysisKey competition factors Key environment factorStrengths（S）Disadvantages（W）1. Devices1. cost control mechanism 2. enterprise culture 2. post sale service3. product C/P3. Employee satisfaction and cohesion4. consumer loyalty 4. Asset structure5. R & D capability and technological level5. Distribution channelsOpportunity1. brand recognitionSO strategy l Use consumers brand recognition to improve product and service quality , enhance brand valuel Develop equipment to improve efficiency and reduce operating costsl Ensure the technical level is maintained at a higher level , strengthen cooperation with equipment or technology vendor , while seeking new technologies and R & D capabilitiesWO strategy ：l Rectifications of large enterprises by administrative malpractice, implement incentives to mobilize the enthusiasm of the staff , reduce administrative costs , to enable enterprises to move closer to the industry scale effectl Improve service, set up after-sales service outlets across functions2. control operating costs3. situation of the distribution network4. The degree of cooperation with the equipment or technology providerThreaten1. Other companies with similar products impact on the profit ST strategy:l Ensure the technical level is maintained at a higher level , to strengthen cooperation with equipment or technology vendor , while seeking new technologies and R & D capabilitiesl Following strategy : to ensure that the market sharel Catching strategy: to move closer to the industry leaders in order to avoid the threat of new entrantsl WT strategy:l On one hand , large enterprises through corrective administrative malpractice , reduce management costs ; on the other hand , the implementation of incentives, staff motivationl Expand sales channels, to avoid conflicts with competitors selling similar products or consumer groups in the region2. develop new products, technologies3. Market share4.related telecommunications regulatory impact on businesses5. Impact of new entrants on profits4. Corporate vision4.1 A corporate directionUnited Telecommunications Corporation operates telecommunications business in China from the early days of mobile phones (GSM) and paging to the current mobile phones ( including GSM and CDMA), long distance calls , local calls, data communications ( including Internet services and IP phone ) , value-added telecom services, wireless paging and other businesses with the main business -related . Future strategic development ideas will be “mobile -based, integrated development; two networks to coordinate the different operations; effective leader, bigger and stronger.”4.2 Adjust VisionFor a long time, China Unicom has been positioned in the mobile communications market challenger, committed to the development of the CDMA business. In early 2006, China Unicom made , with the formation of 3G, NGN and other next-generation network , the company will be achieved by the basic telecommunications network operators to modern integrated communications and information service provider ch