本研究以財務分析探討個案公司連年虧損、資產負債表品質不佳以及現金流量不足之主因。結果發現，個案公司毛利率太低致長期嚴重虧損，而個案公司以短期負債填補此一缺口。本研究建議，個案公司應檢討其營業成本，特別是產品不良率何以偏高，而原料成本、製程、人員等也都是可能的原因。最後，公司的訂價策略也應該檢討。;This study uses financial statement analysis skills to investigate the reasons why the case company has been performing poorly in operating results, financial position and cash flow. The findings indicate that low gross profit margin led to severe operating loss of the company and it filled the deficit with short-term debt. This study therefore suggestions that the company review its operating costs and pricing strategy, especially the abnormally high product defect rate, material costs, manufacturing process efficiency and the quality of personnel.
