This report analyzes the financial ratios of Fu-Wang Ceramics Industries Ltd for 2016-2017. Several ratios are below industry averages, indicating inefficiency. Liquidity ratios like current and quick ratios meet or exceed averages. Profitability ratios like profit margin meet averages but returns on assets and equity are below. 2016 performance was generally better than 2017 based on higher ratios that year. The conclusion is that most ratios do not meet industry benchmarks and the company performed better financially in 2016.