制造业巨额商誉的形成及减值分析——以众泰汽车为例  

Formation and Impairment of Huge Goodwill in Manufacturing Industry—Taking Zotye Automobile as an Example

作　　者：范优优 Fan Youyou(Yan'an University,Yan'an Shaanxi 716000,China)

机构地区：[1]延安大学,陕西延安716000

出　　处：《现代工业经济和信息化》2025年第2期279-281,共3页Modern Industrial Economy and Informationization

摘　　要：并购是企业快速扩张的一种方式,其溢价给企业带来了合并商誉。近年来上市公司大额集中计提合并商誉减值的事件频发,对公司造成了恶劣影响并导致其股价波动,既阻碍公司健康发展也加剧了资本市场的震荡。并购会产生巨额商誉,巨额商誉存在的同时出现了商誉大幅度计提减值的现象。选择众泰汽车作为研究对象,基于商誉减值的溢价并购理论、商誉后续计量理论以及盈余管理理论展开研究。研究发现,商誉的增加和减值受宏观经济变动和政策调整的影响明显,商誉过分高估后会对企业资产负债结构产生巨大隐患。基于此建议通过优化结构、完善公司治理来抑制合并带来巨额商誉所产生的危害,并采取相应的措施来缩小商誉减值的不良影响。Mergers and acquisitions(M&A)is a way for enterprises to expand rapidly,and its premium brings consolidated goodwill to enterprises.In recent years,the large amount of impairment of consolidated goodwill of listed companies has occurred frequently,which has caused a bad impact on the company and led to the fluctuation of its share price,which not only hindered the healthy development of the company but also aggravated the shock of the capital market.Mergers and acquisitions will generate a huge amount of goodwill,huge goodwill exists at the same time the phenomenon of goodwill substantial impairment.Zotye Automobile is chosen as the research object,based on the theory of goodwill impairment of premium mergers and acquisitions,the theory of subsequent measurement of goodwill and the theory of surplus management to carry out the research.It is found that the increase and impairment of goodwill is significantly affected by macroeconomic changes and policy adjustments,and the overvaluation of goodwill will cause great potential problems to the asset and liability structure of enterprises.Based on this,it is recommended to optimise the structure and improve the corporate governance to curb the harm caused by the huge goodwill brought by the merger,and to take corresponding measures to reduce the adverse effects of goodwill impairment.

关 键 词：制造业 商誉 资产减值 

分 类 号：F271[经济管理—企业管理] F275[经济管理—国民经济]