華泰公司財(cái)務(wù)

華泰公司財(cái)務(wù)分析會(huì)計(jì)0401班小組成員：陳蓉蕓周偉娜陳鈺金賞葉曉明夏青

一.公司基本情況

二.報(bào)表分析

三.盈利能力分析

四.償債能力分析

五.營(yíng)運(yùn)能力分析

六.公司存在的問(wèn)題

七.對(duì)公司的改進(jìn)建議公司基本情況簡(jiǎn)介

公司法定中文名稱(chēng)：山東華泰紙業(yè)股份有限公司公司法定中文名稱(chēng)縮寫(xiě)：華泰股份公司法定代表人：李建華公司a股上市交易所：上海證券交易所公司a股簡(jiǎn)稱(chēng)：華泰股份公司a股代碼：600308公亦司穗歸慘屬帥于行造衛(wèi)紙忍行缸業(yè)春，籍經(jīng)謠營(yíng)焦范屬?lài)浒f(shuō)括冬：抄造羽紙發(fā)；賭紙方制籍品暈及盼紙襯料枝加棒工齊；教熱面電蘆；院化持工壯產(chǎn)伸品蘆（盜不誓含券化山學(xué)傳危倦險(xiǎn)舍品根）餐及煮機(jī)藏械款制梢造瞎、競(jìng)銷(xiāo)迅售探；脈紙拆漿衣的肥生冶產(chǎn)寬、糞銷(xiāo)更售臣；帽本薯企喜業(yè)良自爸產(chǎn)懇產(chǎn)弊品拍及巖相改關(guān)蛙技必術(shù)燒的織進(jìn)倒出己口保業(yè)閱務(wù)到。也公咬司象主御導(dǎo)內(nèi)產(chǎn)概品貌為填中申高割檔棟新告聞?shì)d紙?jiān)?、區(qū)雙傅膠瀉紙筋和域書(shū)備寫(xiě)現(xiàn)紙裙，的主斃業(yè)礦比京較晉鮮藍(lán)明微。繪公侄司森現(xiàn)衛(wèi)擁哪有均年粉產(chǎn)北1則2鹿0姓萬(wàn)茫噸傅新窩聞雖紙塞的月生村產(chǎn)杯能射力稱(chēng)，技市婦場(chǎng)筋占告有岡率旨約必為匠3品0站％汪，丙是躺目疫前臨國(guó)弱內(nèi)還最失大架的命新獸聞作紙叮生亂產(chǎn)漫企修業(yè)寸.2006-12-312005-12-312004-12-31貨幣資金

632,627,326.00485,923,989.96376,378,231.09應(yīng)收票據(jù)

176,931,561.0068,412,669.6053,752,754.64應(yīng)收賬款

411,693,604.00334,602,477.79265,929,324.64其他應(yīng)收款

4,919,943.006,129,380.497,135,599.26預(yù)付賬款

35,563,548.0038,965,526.6040,277,621.51存貨

578,941,840.00513,001,518.37425,868,351.41待攤費(fèi)用

219,999.00723,337.37471,570.83流動(dòng)資產(chǎn)合計(jì)

1,840,897,823.001,447,758,900.181,170,126,644.27長(zhǎng)期股權(quán)投資

85,663,315.005,374,141.164,812,524.38長(zhǎng)期投資合計(jì)

85,663,315.005,374,141.164,812,524.38固定資產(chǎn)原價(jià)

7,154,495,391.004,982,162,803.962,815,980,281.72減：累計(jì)折舊

1,200,538,464.00815,660,522.83638,323,166.90固定資產(chǎn)凈值

5,953,956,926.004,166,502,281.132,177,657,114.82減：固定資產(chǎn)減值準(zhǔn)備

1,382,900.001,382,900.261,643,815.01固定資產(chǎn)凈額

5,952,574,026.004,165,119,380.872,176,013,299.81在建工程

35,879,307.00402,003,347.57562,171,667.16固定資產(chǎn)合計(jì)

5,988,453,333.004,567,122,728.442,746,126,047.31無(wú)形資產(chǎn)

63,499.00162,499.84176,999.92無(wú)形資產(chǎn)及其他資產(chǎn)合計(jì)

63,499.00162,499.84782,514.11資產(chǎn)總計(jì)

7,915,077,972.516,020,418,269.623,921,847,730.07短期借款

1,949,730,996.281,303,840,500.00634,879,653.51應(yīng)付票據(jù)

427,225,148.87210,929,118.844,428,019.25應(yīng)付賬款

811,574,016.51756,276,494.11422,217,065.43預(yù)收賬款

47,438,746.8736,372,103.0331,455,284.27應(yīng)付工資

12,398,406.0710,480,076.354,939,822.42應(yīng)付福利費(fèi)

21,186,764.9019,494,762.0813,140,268.24應(yīng)付股利

13,157,143.4823,788,171.81應(yīng)交稅金

18,093,204.5339,433,166.7230,782,879.64其他應(yīng)交款

2,237,689.701,040,559.12222,459.90其他應(yīng)付款

62,390,614.7759,075,417.4376,039,738.67預(yù)提費(fèi)用

17,711,285.262,649,422.922,448,560.07其他流動(dòng)負(fù)債

400,000,000.00流動(dòng)負(fù)債合計(jì)

3,783,144,017.242,463,379,792.411,521,171,571.40長(zhǎng)期借款

1,310,000,000.001,015,000,000.00115,000,000.00專(zhuān)項(xiàng)應(yīng)付款

590,000.0019,523,600.0015,473,600.00其他長(zhǎng)期負(fù)債

180,000.00180,000.00180,000.00長(zhǎng)期負(fù)債合計(jì)

1,310,590,000.001,034,703,600.00130,653,600.00負(fù)債合計(jì)

5,093,734,017.243,498,083,392.411,651,825,171.40少數(shù)股東權(quán)益

145,926,527.57135,712,939.86156,958,113.06股本

480,413,378.00300,258,361.00300,258,361.00股本凈額

480,413,378.00300,258,361.00300,258,361.00資本公積

837,586,061.731,000,417,790.39997,009,415.39盈余公積

364,683,642.28305,104,273.60236,265,753.16其中:法定公益金

74,754,159.8874,754,159.8857,544,529.77未分配利潤(rùn)

872,631,001.19654,424,368.59495,691,072.05現(xiàn)金股利

120,103,344.50126,417,143.7783,839,844.01股東權(quán)益合計(jì)

2,675,417,427.702,386,621,937.352,113,064,445.61負(fù)債及股東權(quán)益合計(jì)

7,915,077,972.516,020,418,269.623,921,847,730.07利潤(rùn)表200620052004一、主營(yíng)業(yè)務(wù)收入

3,739,619,064.922,835,175,794.922,626,297,779.67減：主營(yíng)業(yè)務(wù)成本

2,942,162,097.412,108,736,690.651,986,419,528.09主營(yíng)業(yè)務(wù)稅金及附加

15,397,326.5012,402,516.998,843,046.93二、主營(yíng)業(yè)務(wù)利潤(rùn)

782,059,641.01714,036,587.28631,035,204.65加：其他業(yè)務(wù)利潤(rùn)

96,160,979.3425,277,664.024,326,102.26減:營(yíng)業(yè)費(fèi)用

145,530,033.71106,242,666.44115,155,905.60管理費(fèi)用

156,512,428.81136,693,894.9872,648,445.24財(cái)務(wù)費(fèi)用

125,984,606.5269,264,974.2146,578,281.75三、營(yíng)業(yè)利潤(rùn)

450,193,551.31427,112,715.67400,978,674.32加：投資收益

727,959.667,067,144.21(28,682,563.74)補(bǔ)貼收入

1,185,316.90664,050.772,064,969.20營(yíng)業(yè)外收入

2,996,620.164,993,016.102,557,076.57減：營(yíng)業(yè)外支出

2,968,887.231,635,843.623,230,246.04四、利潤(rùn)總額

452,134,560.80438,201,083.13373,687,910.31減：所得稅

29,987,565.4469,891,551.5668,181,930.54減：少數(shù)股東損益

23,365,639.8535,880,820.2734,527,712.61加：未確認(rèn)投資損失(合并報(bào)表填列)0.000.000.00五、凈利潤(rùn)

398,781,355.51332,428,711.30270,978,267.16從頓資至產(chǎn)菊負(fù)晨債割表領(lǐng)中絞可眼以珠看期出延華狡泰嫩短唉借錄長(zhǎng)嫂投要,兩資她本血結(jié)臨構(gòu)遮不海合件理罩,蹄風(fēng)且險(xiǎn)魚(yú)高爸.固橋定尊資積產(chǎn)恢增秒加椅主較要朋原司因姜系融本果期膊4費(fèi)0救萬(wàn)魔噸兇高株級(jí)鏡彩耕印得新酒聞楚紙煉項(xiàng)請(qǐng)目息投任產(chǎn)棗轉(zhuǎn)鼻資首1謠8恥.座4壩5遺億共元誦，即楊煌木押化極機(jī)條械坊漿柔項(xiàng)今目瞞轉(zhuǎn)慈資奶2廈.洋0葛5間億弱元犧所蚊致饅。短打期湖借母款怎為萌1討,鑼9襯4穗9垃,浴7德3果0衰,賞9始9湖6是.客2據(jù)8構(gòu)元駁，敏比膝上遙年梁同歪期乖增科加蒸4伸9簡(jiǎn).刑5狀4懼%賭，續(xù)主傷要說(shuō)原歸因螞系跑公外司距4譜0勻萬(wàn)賺噸亮高野級(jí)辰彩趨印械新晌聞傻紙制項(xiàng)謊目母的網(wǎng)進(jìn)曉口蜜設(shè)畜備彎公嗽司芝主正要趁以疏海且外辭代糠付襪款陷支蜻付鴉，撫本津期扯海及外云代寒付番借熊款賓7何5甩5泰4泛萬(wàn)蘇歐璃元爆所據(jù)致乘.長(zhǎng)計(jì)期初借振款澆為負(fù)1鄉(xiāng)豐,礦3烏1對(duì)0摔,先0窗0買(mǎi)0掩,雨0壟0級(jí)0李.謹(jǐn)0幫0敗元將，桌比純上菠年譜同調(diào)期倘增蜓加張2敏9嚼.餃0樸6扒%緩，傍主欣要鋪原弓因制系辛本霉期肌4燦0路萬(wàn)侍噸膠高種級(jí)題彩膀印拋新放聞裂紙雄項(xiàng)覺(jué)目救新住增溉3桿億些元銜的吹固等定陰資偉產(chǎn)若貸北款債所牲致迷.從跡利酷潤(rùn)賢表乏可翁以救看凍出損華蜜泰柔的蠟所諸得磚稅傲隨賽利這潤(rùn)評(píng)的浪增驕加傅反廁而謀減金少沉.哄所瞧得齊稅贏為面2啊9民,扁9相8烘7揭,膊5暗6斧5孟.假4次4抵，攔比偶上立年威同題期巷減堪少等5蛇7醒.霞0巧9衡%繩，舉主巧要都原涼因姿系泛本出期臥公某司舍采運(yùn)取筐加倉(cāng)速?gòu)V折爐舊摧資極產(chǎn)憤增疲加夫所細(xì)致家。財(cái)良務(wù)饒費(fèi)球用帆為簽1牲2潑5喝,偶9牽8轎4抖,斬6蔑0性6編.練5販2司元悄，墓比狀上卻年榴同丑期福增始加撈8幸1腰.僵8析9屆%油，頭主糧要沒(méi)原素因確系無(wú)本差期指1南8趣.麗7濁萬(wàn)那噸從輕鋼膠桃紙趕項(xiàng)霸目廳投傷產(chǎn)尊后也，快用續(xù)于斥該糖項(xiàng)末目裕的虹貸痛款鬼本伯期景不演再筑資亭本艷化槐；逝同付時(shí)列本宜期舒公床司捷發(fā)類(lèi)行鏟的念8田億粘元抵融僻資紛券身發(fā)撿生失財(cái)鉆務(wù)送費(fèi)星用鋒2蝴5理0顏0艙余拼萬(wàn)鏡元毫所釘致盈帶利煌能捷力調(diào)分梁析魚(yú)指溫標(biāo)貫(囑一屯)200620052004毛利率21.32%25.62%24.36%主營(yíng)業(yè)務(wù)利潤(rùn)率9.47%14.17%15.10%銷(xiāo)售凈利潤(rùn)率10.66%11.73%10.32%總資產(chǎn)報(bào)酬率8.30%10.21%11.51%資產(chǎn)凈利潤(rùn)率5.72%6.69%5.76%凈資產(chǎn)收益率14.91%13.93%12.82%毛塑利帝率頃的香高冬低迎可大以摸反門(mén)映杜企梳業(yè)遙生糕產(chǎn)改經(jīng)非營(yíng)殘商揮品峰市效場(chǎng)擋競(jìng)糕爭(zhēng)件力爬的踢高侮低歇，窄一辣般高來(lái)敞說(shuō)毒，免技祥術(shù)猛含編量碗高拜、賽質(zhì)蒙量敢好淡、末品呀牌耐產(chǎn)響品歐的意毛阿利膊率芝都剝比瀉較贏高捐。主愉營(yíng)園業(yè)財(cái)務(wù)末利躍潤(rùn)犯率搭反同映再每趴百喪元謊主跳營(yíng)怠業(yè)討務(wù)商收衛(wèi)入軋所傻獲圍得肅利日潤(rùn)茅數(shù)勝。怒華呢泰踢的嶺主壯營(yíng)抓業(yè)章務(wù)沈利貸潤(rùn)池率永逐底年觸減債小夾，魄說(shuō)灘明碧該覆企危業(yè)彎的夢(mèng)銷(xiāo)卵售缺獲繪利季能楚力僻在竭逐鞠漸重減鎖弱璃。銷(xiāo)熟售戚凈梁利蠢潤(rùn)吸率劫反梳映究每帆實(shí)朵現(xiàn)割1趕0稿0豬元炸主降營(yíng)盆業(yè)宅務(wù)槽收冶入躲帶漸來(lái)迫的感凈躍利洋潤(rùn)盜，底該研企煉業(yè)魔主煤營(yíng)握業(yè)瘋收輕入替逐探年桂增尸加拿，就但各是蜂并鋪沒(méi)賠有寶帶黑來(lái)馬銷(xiāo)卻售塊凈密利喚潤(rùn)遞的矮提懇高殼，抱這鑼要牢求敵華卸泰改在善擴(kuò)候大旬銷(xiāo)賽售暑的拴同徹時(shí)綿，商應(yīng)蠟注壯意幸改故進(jìn)第經(jīng)酬?duì)I鹽管幻玉理補(bǔ)，貓?zhí)崦舾咧加嚼麚灼椒浴？傌傎Y撐產(chǎn)述報(bào)崗酬焦率前反息映迅了且企牙業(yè)靠利蚊用克全埋部觀經(jīng)渠濟(jì)紡資棍源橡的現(xiàn)盈此利睬能凱力融，勺該給企糕業(yè)摘的獨(dú)總烏資閘產(chǎn)肚報(bào)扔酬啊率胖逐圓年蒙降泄低拍，糖說(shuō)影明賀其率資套產(chǎn)羅管璃理恭的屢效準(zhǔn)益延越保來(lái)擦越科差朋，鞭企蛋業(yè)格的圖管縣理但水祖平累越堆來(lái)歷越膠低菌。凈殲資帥產(chǎn)黎收廉益利率酒是約評(píng)芒價(jià)進(jìn)所淋有王者棚投支入答資室本還獲混取謀報(bào)音酬滴水覽平耍最傻具嫂綜糾合戴性榜和桶代買(mǎi)表上性稅的屆指困標(biāo)辦，導(dǎo)反秀映蝕企擁業(yè)宴資約本智運(yùn)字營(yíng)委的部綜盤(pán)合傾效急益識(shí)。朵該江指打標(biāo)池逐歡年們升錦高裁，宅說(shuō)召明葡企龜業(yè)癢權(quán)盆益嗽資歡本鮮獲監(jiān)取舉收膛益健的沃能船力孤越甩強(qiáng)擔(dān)，壓運(yùn)棄營(yíng)樂(lè)效郵益亞越促好哄，射對(duì)逆企飛業(yè)慢投爹資抖者優(yōu)保莊證居程甘度單越突高備。盈襯利冠能同力遲分功析藏指鞭標(biāo)笛(駕二放)

200620052004每股凈資產(chǎn)5.577.957.04每股收益0.381.110.9每股經(jīng)營(yíng)活動(dòng)產(chǎn)生現(xiàn)金流量?jī)纛~2.182.192.08從臟理饅論館上悶講鹿,貞每雀股掘凈岸資腐產(chǎn)房誠(chéng)逐徒年粒下刑降杏，殃說(shuō)往明品公把司脅的社每獎(jiǎng)股兼擁布有鉤的竊凈扶資膠產(chǎn)欄下法降污，泡公概司寄發(fā)毒展憶潛伶力奏受萄到但一鄉(xiāng)豐定勝阻爹礙東。濁抵已御顏外郊來(lái)純因眉素導(dǎo)影慣響摧和腿打針擊對(duì)能汪力寬降晴低迅，疑相布應(yīng)桿可暴能慚會(huì)億帶隆來(lái)繁股掩價(jià)交下形跌嫩。逼公膝司和0廚6傻年捐每室股啞收換益稀較抱0嫌4壞.駝0便5顛年泉偏擁小提，鴨說(shuō)疲明儉公撥司趟的庫(kù)盈懇利拌能養(yǎng)力兵已磨逐犁漸西變歐弱崗，艘公趟司美的牽經(jīng)芹營(yíng)崇和扣財(cái)拘務(wù)傾狀扣況惜也抵明漁顯擔(dān)下饒降棕。每計(jì)股閥收凱益點(diǎn)下掩降侄而版每悶股魂經(jīng)譜營(yíng)謹(jǐn)現(xiàn)絨金伴流知量務(wù)凈擁額師持剝續(xù)摘較造高酬，羊說(shuō)您明臟利診潤(rùn)斤的絕現(xiàn)劃金死保渠障緣瑞程頌度磨較盤(pán)強(qiáng)償。但券實(shí)何際對(duì)上憂(yōu),刪每趟股攪收朱益修、狂每柳股躲凈賤資往產(chǎn)強(qiáng)和廊調(diào)脂整虜后風(fēng)每攀股先凈抽資傅產(chǎn)彎下?lián)艚祲|主勇要塵原陜因球是塘公怖司脆于龜2凳0透0探6墊年濾度萄實(shí)午施只公燭積游金槳轉(zhuǎn)周增樂(lè)股仰本遺1饞0范股希轉(zhuǎn)豪增糾6布股只的政利晃潤(rùn)花分蠻配忽方餓案脖導(dǎo)堡致怪的兇.償裁債堡能觀力期分溜析昌指孫標(biāo)2006年2005年2004年流動(dòng)比率0.490.590.77速動(dòng)比率0.330.380.49現(xiàn)金比率0.170.20.25現(xiàn)金流動(dòng)負(fù)債比率0.280.270.41資產(chǎn)負(fù)債率0.640.580.42產(chǎn)權(quán)比率1.91.470.78每股凈資產(chǎn)流動(dòng)比率速動(dòng)比率股東權(quán)益比率債務(wù)資產(chǎn)比率存貨周轉(zhuǎn)率應(yīng)收賬款周轉(zhuǎn)率資產(chǎn)周轉(zhuǎn)率博匯5.03981.03430.59430.41430.57264.41677.43630.8303晨鳴4.40091.02040.70330.29250.62294.74827.51310.6134恒豐5.27531.3320.95810.47160.51754.260175.08370.5005華泰5.5690.48660.33360.3880.64355.388910.02180.5367美利5.1740.78560.56530.17560.82122.15549.50380.2532山鷹2.81450.72770.59280.47840.51748.68658.70240.734銀鴿1.92190.77940.56570.32160.6725.781717.37860.7384行業(yè)平均4.31370.88090.61620.36330.62395.06269.3720.6009橫獻(xiàn)向伐分獨(dú)析從艱公寸司個(gè)的抬流姿動(dòng)紐奉比肝率公來(lái)諸看京，舒這執(zhí)三奔年烈呈診下椅降深趨按勢(shì)看，貴從踢2肚0爺0鐵4獅年皂的籍0開(kāi).臥7金7宿到辟了鄙2稅0漆0被6根年辨的辱0境.令4嬌9忠，霞說(shuō)仆明毛華兆泰芳公愁司海的攪短乒期踐償市債縮慧能傷力渣明券顯堡下體降青。吩同晚時(shí)汪我效們慕看串到洪公浴司胸的陰速趁動(dòng)搞比挽率念也炊在璃逐羊年栽降顯低匆。插作達(dá)為掠一賊個(gè)黨制記造摟企碑業(yè)董，港其池速仿動(dòng)莖比鴨率裙只疏有軋0轉(zhuǎn).耳3雁3座，捆這每應(yīng)查該千引尿起把公笛司客的吩注酒意焰。再渾看丈公蒼司吧的械現(xiàn)座金籌比馳率青和梢現(xiàn)權(quán)金摩流減動(dòng)點(diǎn)負(fù)編債回比都率嚼，配這它兩納個(gè)貿(mào)指舊標(biāo)豈也葉都虛說(shuō)勤明嗚了督同球一太個(gè)經(jīng)問(wèn)轉(zhuǎn)題司，凱，腦企芝業(yè)斃的叢即醒刻濟(jì)變共現(xiàn)計(jì)能泰力富欠拍佳剃，裝而乖且營(yíng)每里年夕都證在皮下邀降支。同休時(shí)如，海資姻產(chǎn)脹負(fù)種債搭比哀率嘴和嬌產(chǎn)賠權(quán)隸比懇率飼卻毛在借逐仰年以上妥升綱，癢說(shuō)盆明各企碧業(yè)砍的蘿資枕本插結(jié)憂(yōu)構(gòu)辛不么夠冶合挪理蟲(chóng)，漿負(fù)扭債縣在烈逐青年憐增瞎長(zhǎng)逢,梯應(yīng)累該忌改兵善鑒公炒司洪的踐資鐵本果結(jié)院構(gòu)城?？v鋸向照分墳析公俱司暗2扔0朽0致6飾年梯的銷(xiāo)流靈動(dòng)尊比蜘率星是災(zāi)0送.功4餓9丹，牙相愿對(duì)巡壽于蟲(chóng)同槳行釣業(yè)倒的清0片.弄8課8燃來(lái)序說(shuō)激，攏這寨個(gè)督流犯動(dòng)退比醒率哈也頭是梅不扭理岡想役的陸,囑企炊業(yè)穩(wěn)的杜短展期周償游債替能分力婦欠脂佳擦。狡同甚樣貧，勇公湯司巨的腔速叉動(dòng)嫂比缺率測(cè)0隸.艱3跡3家比撈同算行芹業(yè)壁的遼0委.未6悅2棗也皮相贈(zèng)差耀比殊較拾大搶,免隨清時(shí)縣可加變長(zhǎng)現(xiàn)送的鳥(niǎo)資祝產(chǎn)狹遠(yuǎn)那遠(yuǎn)扶不困能胡償些付霧到逃期喝債遷務(wù)臉,腸說(shuō)慌明奧資抓本瘋結(jié)筆構(gòu)某很硬不介合墊理拒，少應(yīng)極該撿立逢刻或改殖善產(chǎn)公擔(dān)司品的達(dá)資省本斧結(jié)笛構(gòu)殖。營(yíng)流運(yùn)閣能疏力煙分六析蕩指向標(biāo)2004年2005年2006年總資產(chǎn)周轉(zhuǎn)率0.72次0.57次0.54次凈資產(chǎn)周轉(zhuǎn)率0.65次0.63次0.74次存貨周轉(zhuǎn)率4.79次4.49次5.39次應(yīng)收帳款周轉(zhuǎn)率8.98次9.44次10.02次從唇上嗓述塘營(yíng)遮運(yùn)肆能終力本指皺標(biāo)純的曠分嶄析量中慢可穗以夏看歌出籌，次總減資區(qū)產(chǎn)濃周蓮轉(zhuǎn)頁(yè)率眾在午逐讓年跟下打降菌，絨而礎(chǔ)2綱0盾0歡6畜年堂的遇凈配資顫產(chǎn)投周壁轉(zhuǎn)焦率搬比汪前限兩檔年榴上慌升詳了勒十身個(gè)蟲(chóng)百辟分穗點(diǎn)待。同餅時(shí)呢2滴0故0麥6土年葛的幣存嶄貨疑周義轉(zhuǎn)鉗率竭也登比撲前慨兩笑年搶增您加向。夕說(shuō)祖明邊企紹業(yè)范的鋼銷(xiāo)個(gè)售鹽能截力歐和巴管伙理足存勒貨肉的倒水熄平浮都妹增天強(qiáng)狠了軌。這問(wèn)三供年織的洗應(yīng)啦收尤帳阻款勺周宜轉(zhuǎn)彩率眼也嚼在葡逐裙年駐上介升崇，愈說(shuō)前明脂企娛業(yè)進(jìn)應(yīng)痕收臟帳豈款體的炸管亮理仿工梢作侮的聚效凈率穴提庭高舊了是，駕但另同劇時(shí)肯也樓應(yīng)轉(zhuǎn)該惑注旬意贈(zèng)企排業(yè)倍是伯否蜻對(duì)靠賒骨銷(xiāo)泥期板限背或器付準(zhǔn)款蜓期貧限帶控俘制惠得疏過(guò)您緊蘆。公撈司秩存味在舅的辦問(wèn)林題（資1奇）外公游司潛主狠導(dǎo)穗產(chǎn)甚品型新脈聞睡紙事和想文錯(cuò)化改紙余的潑主驅(qū)要膨原沖料假為穩(wěn)再錘生杯廢測(cè)紙隊(duì)、國(guó)木后漿挽等河。潑大蘭多排數(shù)脹原烈輔兇材糖料稼由曬于匯受知市撓場(chǎng)射影脾響目，袖價(jià)絲式格說(shuō)波茶動(dòng)刊幅承度胡較恩大鵲，掠可甜能研對(duì)維公妙司璃的休生釋產(chǎn)睛成切本冬造揪成燙一蝦定懷的私影沙響巷，略進(jìn)照而銳影間響妖公隊(duì)司私毛礙利寨率鍋水甜平餃。（斤2算）泉公勸司響主漫要牲原典材捏料際再直生港廢逃紙負(fù)和淹木摔漿掉主撓要聾從蹲國(guó)歷外禽進(jìn)拜口器，燥具鉆有摟一尼定年的離依勾賴(lài)跌度窗；速若俘主寬要派供臺(tái)應(yīng)斧商靜生岡產(chǎn)旺或租銷(xiāo)刷售殃政蕉策燈發(fā)養(yǎng)生其變閱化煎，勞則饑公柴司轎的投生項(xiàng)產(chǎn)類(lèi)經(jīng)可營(yíng)愚將全受斧到麥一鮮定崗影洞響臂。（怕3海）狗公乘司東主飲導(dǎo)編產(chǎn)蹦品衛(wèi)高尺檔闊新為聞薦紙香面添臨半的攻競(jìng)碼爭(zhēng)欄激采烈腥而鎖復(fù)值雜徹。撥近飾年胃來(lái)貴，撓國(guó)撤內(nèi)啟新獎(jiǎng)聞刊紙枯生期產(chǎn)握規(guī)趙?？鋽U(kuò)緞大刑，么產(chǎn)金品膽檔倆次抓與私質(zhì)甲量仁均朱有昨較酬大答提慢升乓。賢雖賊然牛從樸長(zhǎng)汪期排看踐，貨我院國(guó)去新綿聞責(zé)紙翼市警場(chǎng)笛潛潛力家巨田大種，雨但供短狠期局內(nèi)執(zhí)由勿于厲產(chǎn)環(huán)能掛增攔加膝等兄因蟻素哲，福市頭場(chǎng)朵競(jìng)旋爭(zhēng)現(xiàn)更登趨兆激拐烈準(zhǔn)。改可進(jìn)讓建詳議詞(際一蘇)（易1踢）省積饒極溜發(fā)鏟展斤林核紙蕉一蔥體奶化靜項(xiàng)停目慘，滴根餐據(jù)和行廉業(yè)差的伴發(fā)奶展短趨物勢(shì)愚和暢現(xiàn)顯狀疲，狼建艦設(shè)核自怖己殃的里原旅料抬林硬基探地鋸和企漿飼廠(chǎng)征，崖以腎保薦證冠原跑料題供火應(yīng)道，奇實(shí)匹現(xiàn)者頭介尾湖相奏接說(shuō)的唇產(chǎn)致業(yè)伏鏈組。（異2蛋）糟適稀應(yīng)榨規(guī)濤模嘗發(fā)溉展駝需承要效，蝴提寺高卻新弓聞俗出狹版威印莊刷蘿用首紙猴產(chǎn)亞量腔，普逐明步術(shù)體充現(xiàn)賭規(guī)娘模愚優(yōu)及勢(shì)繳。（瀉3練）紫根布據(jù)菊市鐮場(chǎng)撐的除變忌化槐，秧采肥取區(qū)更黎為舊靈抽活比的阻營(yíng)竿銷(xiāo)先策垮略寺，臨以喂市取場(chǎng)蛙為業(yè)導(dǎo)脆向畜，嬌不汁斷句開(kāi)泰發(fā)錫新努產(chǎn)稈品煌。（陜4賞）序根乒據(jù)林市犧場(chǎng)子需勞求鉤，陜?nèi)l(wèi)面泊考疊慮邪產(chǎn)寒品柿的垂市瞇場(chǎng)遮定精位草、田市蒸場(chǎng)尖分款布腰和暑銷(xiāo)亮售婆方特式貍，魂兼設(shè)顧休私拐營(yíng)務(wù)經(jīng)癥濟(jì)向、逝個(gè)成體液經(jīng)宏濟(jì)析、您社效會(huì)改單獄位廣、猜印宵刷蘭物老資很公焰司膚和奮出饅版邁社狐，挺鞏筒固儉和罵擴(kuò)跟大敞內(nèi)向銷(xiāo)折市慣場(chǎng)集，獸同懲時(shí)紅充厭分遇利論用傷公淘司劣的侵設(shè)殘備命優(yōu)森勢(shì)逼、丘成勉本狡優(yōu)軟勢(shì)呼和搜技贈(zèng)術(shù)殺優(yōu)俘勢(shì)摟積而極擁參員與智國(guó)柏際穩(wěn)市胃場(chǎng)嘆競(jìng)蛋爭(zhēng)迅，瞧不慨?dāng)嗝禾嵩锷补仕狙慨a(chǎn)緊品雄的座美蜘譽(yù)幻玉度瓦和嶄用京戶(hù)季忠灶誠(chéng)筋度搖，糖進(jìn)遍一熱步抵提參高嚷產(chǎn)界品蜜的齒市完場(chǎng)攻占太有金率臭。改圖進(jìn)蘋(píng)建外議隔(礦二梁)公桑司鍋所后處倉(cāng)行伐業(yè)外