参考答案

①商品价格风险。由于国内市场的需求及价格变化会对公司的业务状况和经营业绩产生重要影响。如果市场出现严重的供大于求，导致价格和毛利下降可能会对公司的业务.经营和财务状况产生负面影响。
②环境风险。近期频发环境污染事故，有关机关对其加强了监管。公司受到日益严格的环保法律.法规的监管，有关法律和法规包括征收废弃物的排放费用.征收违反环保法规罚款.强制关闭拒不整改或继续造成环境破坏的企业等方面。
③法律/合规性风险。为符合现有的和未来新增的监管规定的要求，公司需要付出合规性成本，可能对公司的业务产生重大影响。
④流动性风险。截止2010年底的长期借款余额折合人民币为44000百万元，到期日长于三年的长期借款比重达到80%。因为到期的长期借款金额巨大，企业的还款压力非常大，同时由于偿还长期借款，会使企业的流动资产减少，企业可能不能满足日常开支的需求，所以企业会有流动性风险。
⑤声誉风险。如果公司发生重大安全事故或者对周边环境造成重大污染可能对公司的业务经营造成负面影响并带来经济和声誉损失，同时可能引起诉讼.赔偿性支出.处罚以及停业整顿。
①Price risk. The demand and price fluctuation of the home market will have a significant influence on operational condition of the company. If supply exceeds demand, price and gross profit will fall down so quickly that the company’s operation and financial condition will be affected.
②Environmental risk. Recently several environmental pollution accidents happened. Serious measures have been taken by authorities to regulate the actions of companies. Some regulations include imposing fees of discharging waste, violating environmental protection laws as well as forcing the companies which continue polluting to shut up.
③ Regulation risk. It takes a lot to comply with present and added regulations. The cost may have a negative impact on the operation.
④Liquidity risk. The long-term debt balance was 44000million Yuan at the end of 2010. The amount of matured long-term debt is large and the repayment of long-term debt will reduce the current assets of the company. It is difficult to cover the overheads.
⑤Reputation risk.If significant accidents or severe pollution to the nearby environment take place in the company, the reputation of the company will be harmed. The company will face lawsuit, compensation, punishment and even shut up.