Financial Crisis Warning for Listed Manufacturing Companies in China

Table 1

Final early warning indicators.

Code	Indicators in the years of t-2 and t-3
X1	Current ratio
X2	Quick ratio
X3	Interest coverage ratio
X4	Asset-liability ratio
X5	Total asset growth rate (only significant in the years of t-2)
X6	Net profit growth rate (only significant in the years of t-2)
X7	Increase rate of business revenue
X8	Growth rate of owner’s equity
X11	Current asset turnover
X12	Fixed asset turnover
X13	Total asset turnover
X14	Return on assets
X15	Return on equity
X16	Sales margin
X17	Ratio of profits to cost
X18	Earnings per share
X19	Net cash flow from operating activities per share
X20	Total cash recovery
X21	Cash flow coverage ratio
X22	Cash flow interest coverage ratio
X23	Ratio of net cash flow to net profit from operations
X25	Share ratio of the largest shareholder
X26	Share ratio of the top five shareholders