摘要 煤炭是我国重要的能源与主要的工业原料，受经济下行等因素影响，我国煤炭市场呈现大幅度波动。针对这种现象，本文使用层次分析法和模糊综合评价法研究了同为央企的中国神华与中煤能源的财务绩效差异及成因，并根据分析结果提出了有关提升煤炭业上市公司财务绩效的相关建议。这对提高我国煤炭业经营能力、提升其综合实力和国际竞争力具有理论和现实意义。主要工作成果及结论如下： （1）本文首先根据相关的文献资料，结合煤炭业现状，从资本使用、管理能力、股东权益和资产利用等维度，建立了煤炭业上市公司财务绩效评价体系。其次，应用层次分析法确定了指标权重。在使用模糊综合评价法进行分析时，采取专家打分法，对十个指标进行赋权，然后建立模型，对目标公司进行财务绩效的综合分析，分别得出影响该公司财务绩效的因素强弱。 （2）应用所构建的评价体系，从单项指标的两两对比和整体的指标体系评价两方面对中国神华与中煤能源的财务绩效进行了评价。结果发现，无论是从单项指标，还是从整体绩效水平来看，中国神华的数据均优于中煤能源。 （3）应用实证研究方法，对选取的案例公司财务绩效差异的成因进行分析评价，探讨了我国煤炭业上市公司财务绩效差异的成因，从而得出具有代表性的煤炭业上市公司财务绩效差异的成因。研究发现，案例公司的财务绩效差异，主要受煤炭资源禀赋、机械自动化水平及先进程度、企业多元化发展和人才培养战略等因素的影响，本文根据案例公司的财务绩效差异成因分析对煤炭业上市公司进行了分析，就如何提升煤炭业上市公司的财务绩效，提出相应的政策建议。

ABSTRACT Coal is an important energy and main industrial raw material in our country, and the coal market in China has fluctuated greatly due to the economic downturn and other factors. Aiming at this phenomenon, this paper using the analytic hierarchy process(AHP) and the fuzzy comprehensive evaluation method to studies the differences and causes of financial performance between the China Shenhua and China coal energy, which is the same as the central enterprise.Based on the analysis results, some Suggestions are put forward to improve the financial performance of listed companies in coal industry.It has theoretical and practical significance to improve the operation capacity of China's coal industry and enhance its comprehensive strength and international competitiveness. The main achievements and conclusions are as follows: （1）Firstly, based on the relevant literature and literature, combined with the current status of the coal industry, this paper establishes a financial performance evaluation system for listed companies in the coal industry from the perspectives of capital use, management capabilities, shareholder equity, and asset utilization.Secondly, using the analytic hierarchy process(AHP) to determine the index weights.When using the fuzzy comprehensive evaluation method for analysis, I used the expert scoring method to assign ten indicators separately.Then establish a model to comprehensively analyze the financial performance of the target company, and obtain the strengths and weaknesses that affect the company's financial performance.Finally, the factors that influence the financial performance of the company are obtained. （2）By through the use of the evaluation system constructed, the financial performance of China Shenhua and China Coal Energy was evaluated from the comparison of individual indicators and the evaluation of the overall index system.It was found that whether it is from a single indicator or from the overall performance level,China Shenhua's data were better than China Coal Energy. （3）Using empirical research methods to analyze and evaluate the causes of the differences in the financial performance of selected case companies, and discuss the causes of the differences in the financial performance of listed companies in the coal industry in China, so as to obtain a representative cause of the differences in the financial performance of listed companies in the coal industry.The study found that the differences in the financial performance of the case companies were mainly affected by the factors such as the endowment of coal resources, the level of automation of the machine and its advanced level, the diversified development of the company, and the talent training strategy.This paper analyzes the listed companies in the coal industry based on the analysis of the causes of differences in the financial performance of the case companies, and puts forward corresponding policy recommendations on how to improve the financial performance of listed companies in the coal industry.