南鋼股份財(cái)務(wù)報(bào)表分析

南鋼股份財(cái)務(wù)分析南鋼財(cái)務(wù)資產(chǎn)負(fù)債表水平分析：報(bào)表日期12311231變動(dòng)值變動(dòng)率單位元元流動(dòng)資產(chǎn)貨幣資金3,463,930,000.003,462,310,000.001,620,000.000.05%結(jié)算備付金0000.00%拆出資金0000.00%交易性金融資產(chǎn)1,407,070,000.001,024,160,000.00382,910,000.0037.39%衍生金融資產(chǎn)0000.00%應(yīng)收票據(jù)2,140,940,000.003,683,760,000.00-1,542,820,000.00-41.88%應(yīng)收賬款576,156,000.00446,285,000.00129,871,000.0029.10%預(yù)付款項(xiàng)687,186,000.00773,759,000.00-86,573,000.00-11.19%應(yīng)收保費(fèi)0000.00%應(yīng)收分保賬款0000.00%應(yīng)收分保協(xié)議準(zhǔn)備金0000.00%應(yīng)收利息986,881.008,568,710.00-7,581,829.00-88.48%應(yīng)收股利0000.00%其他應(yīng)收款249,799,000.00134,639,000.00115,160,000.0085.53%應(yīng)收出口退稅0000.00%應(yīng)收補(bǔ)助款0000.00%應(yīng)收保證金0000.00%內(nèi)部應(yīng)收款0000.00%買入返售金融資產(chǎn)0000.00%存貨4,551,080,000.005,781,980,000.00-1,230,900,000.00-21.29%待攤費(fèi)用0000.00%待處理流動(dòng)資產(chǎn)損益0000.00%一年內(nèi)到期的非流動(dòng)資產(chǎn)0000.00%其他流動(dòng)資產(chǎn)279,124,000.00197,121,000.0082,003,000.0041.60%流動(dòng)資產(chǎn)合計(jì)13,356,300,000.0015,512,600,000.00-2,156,300,000.00-13.90%非流動(dòng)資產(chǎn)00.00%發(fā)放貸款及墊款0000.00%可供發(fā)售金融資產(chǎn)0000.00%持有至到期投資0000.00%長(zhǎng)期應(yīng)收款0000.00%長(zhǎng)期股權(quán)投資700,414,000.00880,380,000.00-179,966,000.00-20.44%其他長(zhǎng)期投資0000.00%投資性房地產(chǎn)0000.00%固定資產(chǎn)原值25,737,000,000.0025,291,500,000.00445,500,000.001.76%合計(jì)折舊10,803,700,000.009,949,440,000.00854,260,000.008.59%固定資產(chǎn)凈值14,933,300,000.0015,342,100,000.00-408,800,000.00-2.66%固定資產(chǎn)減值準(zhǔn)備5,867,180.005,867,180.0000.00%固定資產(chǎn)凈額14,927,500,000.0015,336,200,000.00-408,700,000.00-2.66%在建工程3,309,980,000.001,093,810,000.002,216,170,000.00202.61%工程物資0000.00%固定資產(chǎn)清理0000.00%生產(chǎn)性生物資產(chǎn)0000.00%公益性生物資產(chǎn)0000.00%油氣資產(chǎn)0000.00%無形資產(chǎn)945,803,000.00989,665,000.00-43,862,000.00-4.43%開發(fā)支出0000.00%商譽(yù)0000.00%長(zhǎng)期待攤費(fèi)用0000.00%股權(quán)分置流通權(quán)0000.00%遞延所得稅資產(chǎn)978,247,000.00528,195,000.00450,052,000.0085.21%其他非流動(dòng)資產(chǎn)0000.00%非流動(dòng)資產(chǎn)合計(jì)20,861,900,000.0018,828,300,000.002,033,600,000.0010.80%資產(chǎn)總計(jì)34,218,200,000.0034,340,900,000.00-122,700,000.00-0.36%流動(dòng)負(fù)債00.00%短期借款7,867,180,000.008,350,280,000.00-483,100,000.00-5.79%向中央銀行借款0000.00%吸取存款及同業(yè)寄存0000.00%拆入資金0000.00%交易性金融負(fù)債09,289,340.00-9,289,340.00-100.00%衍生金融負(fù)債0000.00%應(yīng)付票據(jù)3,114,380,000.001,216,450,000.001,897,930,000.00156.02%應(yīng)付賬款3,463,090,000.002,691,280,000.00771,810,000.0028.68%預(yù)收款項(xiàng)934,035,000.001,365,250,000.00-431,215,000.00-31.59%賣出回購(gòu)金融資產(chǎn)款0000.00%應(yīng)付手續(xù)費(fèi)及傭金0000.00%應(yīng)付職工薪酬183,034,000.00194,333,000.00-11,299,000.00-5.81%應(yīng)交稅費(fèi)-136,851,000.00-62,541,100.00-74,309,900.00118.82%應(yīng)付利息326,360,000.00309,655,000.0016,705,000.005.39%應(yīng)付股利1,004,370.00777,576.00226,794.0029.17%其他應(yīng)交款0000.00%應(yīng)付保證金0000.00%內(nèi)部應(yīng)付款0000.00%其他應(yīng)付款274,797,000.00492,849,000.00-218,052,000.00-44.24%預(yù)提費(fèi)用0000.00%估計(jì)流動(dòng)負(fù)債0000.00%應(yīng)付分保賬款0000.00%保險(xiǎn)協(xié)議準(zhǔn)備金0000.00%代理買賣證券款0000.00%代理承銷證券款0000.00%國(guó)際票證結(jié)算0000.00%國(guó)內(nèi)票證結(jié)算0000.00%遞延收益0000.00%應(yīng)付短期債券0000.00%一年內(nèi)到期的非流動(dòng)負(fù)債991,560,000.001,175,130,000.00-183,570,000.00-15.62%其他流動(dòng)負(fù)債321,385,000.00278,433,000.0042,952,000.0015.43%流動(dòng)負(fù)債合計(jì)17,340,000,000.0016,021,200,000.001,318,800,000.008.23%非流動(dòng)負(fù)債00.00%長(zhǎng)期借款1,503,950,000.002,053,530,000.00-549,580,000.00-26.76%應(yīng)付債券3,968,760,000.003,962,900,000.005,860,000.000.15%長(zhǎng)期應(yīng)付款2,490,960,000.002,488,080,000.002,880,000.000.12%專題應(yīng)付款7,000,000.0007,000,000.000.00%估計(jì)非流動(dòng)負(fù)債8,387,990.007,820,840.00567,150.007.25%遞延所得稅負(fù)債60,675.00561,714.00-501,039.00-89.20%其他非流動(dòng)負(fù)債99,966,500.00108,777,000.00-8,810,500.00-8.10%非流動(dòng)負(fù)債合計(jì)8,079,090,000.008,621,680,000.00-542,590,000.00-6.29%負(fù)債合計(jì)25,419,100,000.0024,642,900,000.00776,200,000.003.15%所有者權(quán)益00.00%實(shí)收資本(或股本)3,875,750,000.003,875,750,000.0000.00%資本公積398,419,000.00404,825,000.00-6,406,000.00-1.58%庫(kù)存股0000.00%專題儲(chǔ)備21,097,800.0040,865,600.00-19,767,800.00-48.37%盈余公積658,676,000.00658,676,000.0000.00%一般風(fēng)險(xiǎn)準(zhǔn)備0000.00%未確定的投資損失0000.00%未分派利潤(rùn)3,847,620,000.004,719,580,000.00-871,960,000.00-18.48%擬分派現(xiàn)金股利0000.00%外幣報(bào)表折算差額-9,781,810.00-9,447,540.00-334,270.003.54%歸屬于母企業(yè)股東權(quán)益合計(jì)8,791,780,000.009,690,260,000.00-898,480,000.00-9.27%少數(shù)股東權(quán)益7,338,490.007,733,250.00-394,760.00-5.10%所有者權(quán)益(或股東權(quán)益)合計(jì)8,799,120,000.009,697,990,000.00-898,870,000.00-9.27%負(fù)債和所有者權(quán)益(或股東權(quán)益)總計(jì)34,218,200,000.0034,340,900,000.00-122,700,000.00-0.36%（一）資產(chǎn)分析南鋼股份資產(chǎn)總額較減少了122,700,000.00元。增長(zhǎng)率為-0.36%。這闡明南鋼股份的資產(chǎn)規(guī)模有所縮小，但變化率很小。經(jīng)分析，企業(yè)資產(chǎn)的減少重要是由流動(dòng)資產(chǎn)減少和固定資產(chǎn)的增長(zhǎng)抵消所得。流動(dòng)資產(chǎn)較上年減少了2,156,300,000.00元，使所有資產(chǎn)減少6.30%。這表明企業(yè)資產(chǎn)的流動(dòng)性有所減少；固定資產(chǎn)較上年增長(zhǎng)了2,033,600,000.00元，使所有資產(chǎn)增長(zhǎng)了5.94%。這有助于企業(yè)生產(chǎn)能力的提高。從企業(yè)的長(zhǎng)期投資看，減少了179,966,000.00元，重要是由于長(zhǎng)期投資減值準(zhǔn)備導(dǎo)致的。從企業(yè)的無形資產(chǎn)來看，減少了43,862,000.00元，重要是由于無形資產(chǎn)減值準(zhǔn)備導(dǎo)致的。（二）權(quán)益分析分析可見，邯鄲鋼鐵籌資規(guī)模較減少了0.36%，減少了122,700,000.00元。重要是由于雖然負(fù)債總額規(guī)模有所增長(zhǎng)，不過資產(chǎn)總額規(guī)模卻減少的更多的成果。詳細(xì)來說,重要是應(yīng)收票據(jù)與存貨減少。共減少了2,773,720,000.00元，使總籌資規(guī)模減少了8.11%，在中，股本沒有變化，所有者權(quán)益資本減少與負(fù)債資本增長(zhǎng)籌資政策。應(yīng)付票據(jù)增長(zhǎng)幅度最大，使企業(yè)負(fù)債構(gòu)造有所加大，不過專題儲(chǔ)備縮減較大，其后果是：增長(zhǎng)了籌資成本。南鋼股份資產(chǎn)負(fù)債表垂直分析：報(bào)表日期12311231構(gòu)造構(gòu)造構(gòu)造變動(dòng)單位元元流動(dòng)資產(chǎn)貨幣資金3,463,930,000.003,462,310,000.0010.12%10.08%-0.04%結(jié)算備付金000.00%0.00%0.00%拆出資金000.00%0.00%0.00%交易性金融資產(chǎn)1,407,070,000.001,024,160,000.004.11%2.98%-1.13%衍生金融資產(chǎn)000.00%0.00%0.00%應(yīng)收票據(jù)2,140,940,000.003,683,760,000.006.26%10.73%4.47%應(yīng)收賬款576,156,000.00446,285,000.001.68%1.30%-0.38%預(yù)付款項(xiàng)687,186,000.00773,759,000.002.01%2.25%0.24%應(yīng)收保費(fèi)000.00%0.00%0.00%應(yīng)收分保賬款000.00%0.00%0.00%應(yīng)收分保協(xié)議準(zhǔn)備金000.00%0.00%0.00%應(yīng)收利息986,881.008,568,710.000.00%0.02%0.02%應(yīng)收股利000.00%0.00%0.00%其他應(yīng)收款249,799,000.00134,639,000.000.73%0.39%-0.34%應(yīng)收出口退稅000.00%0.00%0.00%應(yīng)收補(bǔ)助款000.00%0.00%0.00%應(yīng)收保證金000.00%0.00%0.00%內(nèi)部應(yīng)收款000.00%0.00%0.00%買入返售金融資產(chǎn)000.00%0.00%0.00%存貨4,551,080,000.005,781,980,000.0013.30%16.84%3.54%待攤費(fèi)用000.00%0.00%0.00%待處理流動(dòng)資產(chǎn)損益000.00%0.00%0.00%一年內(nèi)到期的非流動(dòng)資產(chǎn)000.00%0.00%0.00%其他流動(dòng)資產(chǎn)279,124,000.00197,121,000.000.82%0.57%-0.24%流動(dòng)資產(chǎn)合計(jì)13,356,300,000.0015,512,600,000.0039.03%45.17%6.14%非流動(dòng)資產(chǎn)0.00%0.00%0.00%發(fā)放貸款及墊款000.00%0.00%0.00%可供發(fā)售金融資產(chǎn)000.00%0.00%0.00%持有至到期投資000.00%0.00%0.00%長(zhǎng)期應(yīng)收款000.00%0.00%0.00%長(zhǎng)期股權(quán)投資700,414,000.00880,380,000.002.05%2.56%0.52%其他長(zhǎng)期投資000.00%0.00%0.00%投資性房地產(chǎn)000.00%0.00%0.00%固定資產(chǎn)原值25,737,000,000.0025,291,500,000.0075.21%73.65%-1.57%合計(jì)折舊10,803,700,000.009,949,440,000.0031.57%28.97%-2.60%固定資產(chǎn)凈值14,933,300,000.0015,342,100,000.0043.64%44.68%1.03%固定資產(chǎn)減值準(zhǔn)備5,867,180.005,867,180.000.02%0.02%0.00%固定資產(chǎn)凈額14,927,500,000.0015,336,200,000.0043.62%44.66%1.03%在建工程3,309,980,000.001,093,810,000.009.67%3.19%-6.49%工程物資000.00%0.00%0.00%固定資產(chǎn)清理000.00%0.00%0.00%生產(chǎn)性生物資產(chǎn)000.00%0.00%0.00%公益性生物資產(chǎn)000.00%0.00%0.00%油氣資產(chǎn)000.00%0.00%0.00%無形資產(chǎn)945,803,000.00989,665,000.002.76%2.88%0.12%開發(fā)支出000.00%0.00%0.00%商譽(yù)000.00%0.00%0.00%長(zhǎng)期待攤費(fèi)用000.00%0.00%0.00%股權(quán)分置流通權(quán)000.00%0.00%0.00%遞延所得稅資產(chǎn)978,247,000.00528,195,000.002.86%1.54%-1.32%其他非流動(dòng)資產(chǎn)000.00%0.00%0.00%非流動(dòng)資產(chǎn)合計(jì)20,861,900,000.0018,828,300,000.0060.97%54.83%-6.14%資產(chǎn)總計(jì)34,218,200,000.0034,340,900,000.00100.00%100.00%0.00%流動(dòng)負(fù)債0.00%0.00%0.00%短期借款7,867,180,000.008,350,280,000.0022.99%24.32%1.32%向中央銀行借款000.00%0.00%0.00%吸取存款及同業(yè)寄存000.00%0.00%0.00%拆入資金000.00%0.00%0.00%交易性金融負(fù)債09,289,340.000.00%0.03%0.03%衍生金融負(fù)債000.00%0.00%0.00%應(yīng)付票據(jù)3,114,380,000.001,216,450,000.009.10%3.54%-5.56%應(yīng)付賬款3,463,090,000.002,691,280,000.0010.12%7.84%-2.28%預(yù)收款項(xiàng)934,035,000.001,365,250,000.002.73%3.98%1.25%賣出回購(gòu)金融資產(chǎn)款000.00%0.00%0.00%應(yīng)付手續(xù)費(fèi)及傭金000.00%0.00%0.00%應(yīng)付職工薪酬183,034,000.00194,333,000.000.53%0.57%0.03%應(yīng)交稅費(fèi)-136,851,000.00-62,541,100.00-0.40%-0.18%0.22%應(yīng)付利息326,360,000.00309,655,000.000.95%0.90%-0.05%應(yīng)付股利1,004,370.00777,576.000.00%0.00%0.00%其他應(yīng)交款000.00%0.00%0.00%應(yīng)付保證金000.00%0.00%0.00%內(nèi)部應(yīng)付款000.00%0.00%0.00%其他應(yīng)付款274,797,000.00492,849,000.000.80%1.44%0.63%預(yù)提費(fèi)用000.00%0.00%0.00%估計(jì)流動(dòng)負(fù)債000.00%0.00%0.00%應(yīng)付分保賬款000.00%0.00%0.00%保險(xiǎn)協(xié)議準(zhǔn)備金000.00%0.00%0.00%代理買賣證券款000.00%0.00%0.00%代理承銷證券款000.00%0.00%0.00%國(guó)際票證結(jié)算000.00%0.00%0.00%國(guó)內(nèi)票證結(jié)算000.00%0.00%0.00%遞延收益000.00%0.00%0.00%應(yīng)付短期債券000.00%0.00%0.00%一年內(nèi)到期的非流動(dòng)負(fù)債991,560,000.001,175,130,000.002.90%3.42%0.52%其他流動(dòng)負(fù)債321,385,000.00278,433,000.000.94%0.81%-0.13%流動(dòng)負(fù)債合計(jì)17,340,000,000.0016,021,200,000.0050.67%46.65%-4.02%非流動(dòng)負(fù)債0.00%0.00%0.00%長(zhǎng)期借款1,503,950,000.002,053,530,000.004.40%5.98%1.58%應(yīng)付債券3,968,760,000.003,962,900,000.0011.60%11.54%-0.06%長(zhǎng)期應(yīng)付款2,490,960,000.002,488,080,000.007.28%7.25%-0.03%專題應(yīng)付款7,000,000.0000.02%0.00%-0.02%估計(jì)非流動(dòng)負(fù)債8,387,990.007,820,840.000.02%0.02%0.00%遞延所得稅負(fù)債60,675.00561,714.000.00%0.00%0.00%其他非流動(dòng)負(fù)債99,966,500.00108,777,000.000.29%0.32%0.02%非流動(dòng)負(fù)債合計(jì)8,079,090,000.008,621,680,000.0023.61%25.11%1.50%負(fù)債合計(jì)25,419,100,000.0024,642,900,000.0074.29%71.76%-2.53%所有者權(quán)益0.00%0.00%0.00%實(shí)收資本(或股本)3,875,750,000.003,875,750,000.0011.33%11.29%-0.04%資本公積398,419,000.00404,825,000.001.16%1.18%0.01%庫(kù)存股000.00%0.00%0.00%專題儲(chǔ)備21,097,800.0040,865,600.000.06%0.12%0.06%盈余公積658,676,000.00658,676,000.001.92%1.92%-0.01%一般風(fēng)險(xiǎn)準(zhǔn)備000.00%0.00%0.00%未確定的投資損失000.00%0.00%0.00%未分派利潤(rùn)3,847,620,000.004,719,580,000.0011.24%13.74%2.50%擬分派現(xiàn)金股利000.00%0.00%0.00%外幣報(bào)表折算差額-9,781,810.00-9,447,540.00-0.03%-0.03%0.00%歸屬于母企業(yè)股東權(quán)益合計(jì)8,791,780,000.009,690,260,000.0025.69%28.22%2.52%少數(shù)股東權(quán)益7,338,490.007,733,250.000.02%0.02%0.00%所有者權(quán)益(或股東權(quán)益)合計(jì)8,799,120,000.009,697,990,000.0025.71%28.24%2.53%負(fù)債和所有者權(quán)益(或股東權(quán)益)總計(jì)34,218,200,000.0034,340,900,000.00100.00%100.00%0.00%（一）資產(chǎn)構(gòu)造分析南鋼股份的流動(dòng)資產(chǎn)占資產(chǎn)總額的39.03%，長(zhǎng)期資產(chǎn)占60.97%。相對(duì)來講，流動(dòng)性不是很強(qiáng)；由于南鋼股份的無形資產(chǎn)為945,803,000.00元，只占總資產(chǎn)2.76%，因此它的收入來源重要是生產(chǎn)營(yíng)銷；南鋼股份的固定資產(chǎn)與流動(dòng)資產(chǎn)的比例大概為3：2，這種構(gòu)造與否合理還應(yīng)結(jié)合鋼鐵企業(yè)特點(diǎn)等有關(guān)信息才能做出判斷。它是屬于制造業(yè)企業(yè)，生產(chǎn)很大比例，因此其固定資產(chǎn)比重大些還是合理的。（二）權(quán)益構(gòu)造分析在，企業(yè)股東權(quán)益為25.71%，長(zhǎng)期負(fù)債占23.61%，流動(dòng)負(fù)債占50.67%，闡明企業(yè)的籌資政策重要是以負(fù)債為主，以所有者權(quán)益為輔。同步與1年比較，借入長(zhǎng)期資本，對(duì)企業(yè)的經(jīng)營(yíng)是擴(kuò)大的效果，運(yùn)用了財(cái)務(wù)杠桿作用，減少了資金成本，同步增大了企業(yè)的償債壓力擴(kuò)大了企業(yè)的財(cái)務(wù)風(fēng)險(xiǎn)。問題：企業(yè)內(nèi)部貨幣資金的過多，它的來源應(yīng)當(dāng)是流動(dòng)負(fù)債所帶來的，對(duì)貨幣的運(yùn)用率不高。南鋼股份利潤(rùn)表水平分析：報(bào)表日期12311231變動(dòng)額變動(dòng)率單位元元一、營(yíng)業(yè)總收入32,032,100,000.0038,565,200,000.00-6,533,100,000.00-16.94%營(yíng)業(yè)收入32,032,100,000.0038,565,200,000.00-6,533,100,000.00-16.94%利息收入0.000.00-0.00%已賺保費(fèi)0.000.00-0.00%手續(xù)費(fèi)及傭金收入0.000.00-0.00%房地產(chǎn)銷售收入0.000.00-0.00%其他業(yè)務(wù)收入0.000.00-0.00%二、營(yíng)業(yè)總成本33,402,000,000.0038,624,700,000.00-5,222,700,000.00-13.52%營(yíng)業(yè)成本30,815,300,000.0036,242,800,000.00-5,427,500,000.00-14.98%利息支出0.000.00-0.00%手續(xù)費(fèi)及傭金支出0.000.00-0.00%房地產(chǎn)銷售成本0.000.00-0.00%研發(fā)費(fèi)用0.000.00-0.00%退保金0.000.00-0.00%賠付支出凈額0.000.00-0.00%提取保險(xiǎn)協(xié)議準(zhǔn)備金凈額0.000.00-0.00%保單紅利支出0.000.00-0.00%分保費(fèi)用0.000.00-0.00%其他業(yè)務(wù)成本0.000.00-0.00%營(yíng)業(yè)稅金及附加128,961,000.00102,726,000.0026,235,000.0025.54%銷售費(fèi)用420,513,000.00398,249,000.0022,264,000.005.59%管理費(fèi)用845,003,000.00838,193,000.006,810,000.000.81%財(cái)務(wù)費(fèi)用957,054,000.00813,387,000.00143,667,000.0017.66%資產(chǎn)減值損失235,108,000.00229,328,000.005,780,000.002.52%公允價(jià)值變動(dòng)收益364,231,000.0088,902,600.00275,328,400.00309.70%投資收益87,512,200.00(25,583,800.00)113,096,000.00-442.06%其中:對(duì)聯(lián)營(yíng)企業(yè)和合營(yíng)企業(yè)的投資收益13,276,700.0036,372,200.00-23,095,500.00-63.50%匯兌收益(15,851,400.00)259,769,000.00-275,620,400.00-106.10%期貨損益0.000.00-0.00%托管收益0.000.00-0.00%補(bǔ)助收入0.000.00-0.00%其他業(yè)務(wù)利潤(rùn)0.000.00-0.00%三、營(yíng)業(yè)利潤(rùn)(934,028,000.00)263,535,000.00-1,197,563,000.00-454.42%營(yíng)業(yè)外收入104,524,000.0041,581,900.0062,942,100.00151.37%營(yíng)業(yè)外支出18,788,500.0024,081,900.00-5,293,400.00-21.98%非流動(dòng)資產(chǎn)處置損失6,068,120.00518,721.005,549,399.001069.82%利潤(rùn)總額(848,292,000.00)281,035,000.00-1,129,327,000.00-401.85%所得稅費(fèi)用(286,572,000.00)(44,632,700.00)-241,939,300.00542.07%未確認(rèn)投資損失0.000.00-0.00%四、凈利潤(rùn)(561,721,000.00)325,667,000.00-887,388,000.00-272.48%歸屬于母企業(yè)所有者的凈利潤(rùn)(561,326,000.00)325,351,000.00-886,677,000.00-272.53%少數(shù)股東損益(394,764.00)316,440.00-711,204.00-224.75%五、每股收益-0.00%基本每股收益(0.14)0.08-0.23-272.59%稀釋每股收益(0.14)0.08-0.22-281.00%六、其他綜合收益(334,273.00)(3,310,080.00)2,975,807.00-89.90%七、綜合收益總額(562,055,000.00)322,357,000.00-884,412,000.00-274.36%歸屬于母企業(yè)所有者的綜合收益總額(561,660,000.00)322,041,000.00-883,701,000.00-274.41%歸屬于少數(shù)股東的綜合收益總額(394,764.00)316,440.00-711,204.00-224.75%1．各利潤(rùn)分析：從利潤(rùn)形成的角度看，進(jìn)行年如下分析：（1）凈利潤(rùn)或稅后利潤(rùn)分析。南鋼股份實(shí)現(xiàn)凈利潤(rùn)-561,721,000.00元，減少了272.48%,減少絕對(duì)額比較大，幅度也比較大。從水平分析來看，企業(yè)凈利潤(rùn)的減少重要是由于利潤(rùn)總額的大幅度減少而引起的；利潤(rùn)總額為-934,028,000.00元，比虧損了1,129,327,000.00元，整長(zhǎng)率為-401.85%，不管從絕對(duì)額和相對(duì)數(shù)而言都十分大。（2）利潤(rùn)總額分析。該企業(yè)利潤(rùn)總額減少1,129,327,000.00元，增長(zhǎng)率為-401.85%，虧損巨大。其中，減少的重要原因是營(yíng)業(yè)利潤(rùn)比上年虧損了1,197,563,000.00元，增長(zhǎng)率為-454.42%，另一方面為非流動(dòng)資產(chǎn)處置損失，增長(zhǎng)5,549,399.00元，增長(zhǎng)幅度很大，此外匯兌收益減少了275,620,400.00元，增長(zhǎng)率為-106.10%，這也是影響利潤(rùn)總額的不利原因。而影響總額減少的尚有營(yíng)業(yè)收入，減少了6,533,100,000.00元，增長(zhǎng)了-16.94%，幅度數(shù)額較大，值得注意。（3）營(yíng)業(yè)利潤(rùn)分析。營(yíng)業(yè)利潤(rùn)比去年減少1,197,563,000.00元，增長(zhǎng)-454.42%，其減少的重要原因是利潤(rùn)總額的減少，非流動(dòng)資產(chǎn)處置損失的增長(zhǎng)引起的，合計(jì)1,134,876,399.00元，與管理費(fèi)用，財(cái)務(wù)費(fèi)用和銷售費(fèi)用共增長(zhǎng)172,741,000.00元的減利原因共同作用導(dǎo)致營(yíng)業(yè)利潤(rùn)減少。（4）主營(yíng)利潤(rùn)分析。該企業(yè)主營(yíng)利潤(rùn)減少887,388,000.00元，增長(zhǎng)率為-272.48%，從收入看，本年比上年減少6,533,100,000.00，增長(zhǎng)率為-16.94%，而成本比上年減少5,222,700,000.00元，增長(zhǎng)了-13.52%，與收入減少幅度相似，主營(yíng)業(yè)務(wù)稅金及附加比上年減少241,939,300.00元。2．重要項(xiàng)目變動(dòng)原因分析。從總體看，該企業(yè)利潤(rùn)比去年下降，減利的重要原因是營(yíng)業(yè)稅金及附加大幅度上升和營(yíng)業(yè)利潤(rùn)的大幅減少。而重要的增利原因是：一是營(yíng)業(yè)費(fèi)用減少。二是營(yíng)業(yè)外收入增長(zhǎng)。營(yíng)業(yè)外收入變動(dòng)狀況分析

營(yíng)業(yè)外收入分析表

單位：元項(xiàng)目增減額增減率營(yíng)業(yè)外收入41,581,900.00104,524,000.0062,942,100.00151.37%南鋼股份現(xiàn)金流量表水平分析：匯報(bào)期12311231變動(dòng)額變動(dòng)率單位元元一、經(jīng)營(yíng)活動(dòng)產(chǎn)生的現(xiàn)金流量銷售商品、提供勞務(wù)收到的現(xiàn)金23,477,300,000.0028,987,600,000.00-5,510,300,000.00-19.01%客戶存款和同業(yè)寄存款項(xiàng)凈增長(zhǎng)額---0.00%向中央銀行借款凈增長(zhǎng)額---0.00%向其他金融機(jī)構(gòu)拆入資金凈增長(zhǎng)額---0.00%收到原保險(xiǎn)協(xié)議保費(fèi)獲得的現(xiàn)金---0.00%收到再保險(xiǎn)業(yè)務(wù)現(xiàn)金凈額---0.00%保戶儲(chǔ)金及投資款凈增長(zhǎng)額---0.00%處置交易性金融資產(chǎn)凈增長(zhǎng)額---0.00%收取利息、手續(xù)費(fèi)及傭金的現(xiàn)金---0.00%拆入資金凈增長(zhǎng)額---0.00%回購(gòu)業(yè)務(wù)資金凈增長(zhǎng)額---0.00%收到的稅費(fèi)返還228,513,000.00250,597,000.00-22,084,000.00-8.81%收到的其他與經(jīng)營(yíng)活動(dòng)有關(guān)的現(xiàn)金163,206,000.00162,923,000.00283,000.000.17%經(jīng)營(yíng)活動(dòng)現(xiàn)金流入小計(jì)23,869,100,000.0029,401,100,000.00-5,532,000,000.00-18.82%購(gòu)置商品、接受勞務(wù)支付的現(xiàn)金18,468,700,000.0026,881,600,000.00-8,412,900,000.00-31.30%客戶貸款及墊款凈增長(zhǎng)額---0.00%寄存中央銀行和同業(yè)款項(xiàng)凈增長(zhǎng)額---0.00%支付原保險(xiǎn)協(xié)議賠付款項(xiàng)的現(xiàn)金---0.00%支付利息、手續(xù)費(fèi)及傭金的現(xiàn)金---0.00%支付保單紅利的現(xiàn)金---0.00%支付給職工以及為職工支付的現(xiàn)金1,264,670,000.001,222,510,000.0042,160,000.003.45%支付的各項(xiàng)稅費(fèi)1,173,250,000.001,075,120,000.0098,130,000.009.13%支付的其他與經(jīng)營(yíng)活動(dòng)有關(guān)的現(xiàn)金982,177,000.00680,365,000.00301,812,000.0044.36%經(jīng)營(yíng)活動(dòng)現(xiàn)金流出小計(jì)21,888,800,000.0029,859,600,000.00-7,970,800,000.00-26.69%經(jīng)營(yíng)活動(dòng)產(chǎn)生的現(xiàn)金流量?jī)纛~1,980,270,000.00-458,419,000.002,438,689,000.00-531.98%二、投資活動(dòng)產(chǎn)生的現(xiàn)金流量：-0.00%收回投資所收到的現(xiàn)金339,801,000.007,447,230.00332,353,770.004462.78%獲得投資收益所收到的現(xiàn)金82,918,500.004,947,660.0077,970,840.001575.91%處置固定資產(chǎn)、無形資產(chǎn)和其他長(zhǎng)期資產(chǎn)所收回的現(xiàn)金凈額6,406,440.004,522,790.001,883,650.0041.65%處置子企業(yè)及其他營(yíng)業(yè)單位收到的現(xiàn)金凈額---0.00%收到的其他與投資活動(dòng)有關(guān)的現(xiàn)金-4,804,970.00-4,804,970.00-100.00%減少質(zhì)押和定期存款所收到的現(xiàn)金---0.00%投資活動(dòng)現(xiàn)金流入小計(jì)429,126,000.0021,722,600.00407,403,400.001875.48%購(gòu)建固定資產(chǎn)、無形資產(chǎn)和其他長(zhǎng)期資產(chǎn)所支付的現(xiàn)金769,061,000.00898,635,000.00-129,574,000.00-14.42%投資所支付的現(xiàn)金203,123,000.001,343,620,000.00-1,140,497,000.00-84.88%質(zhì)押貸款凈增長(zhǎng)額---0.00%獲得子企業(yè)及其他營(yíng)業(yè)單位支付的現(xiàn)金凈額41,406,000.00-41,406,000.000.00%支付的其他與投資活動(dòng)有關(guān)的現(xiàn)金2,195,190.00-2,195,190.000.00%增長(zhǎng)質(zhì)押和定期存款所支付的現(xiàn)金---0.00%投資活動(dòng)現(xiàn)金流出小計(jì)1,015,790,000.002,242,260,000.00-1,226,470,000.00-54.70%投資活動(dòng)產(chǎn)生的現(xiàn)金流量?jī)纛~-586,659,000.00-2,220,540,000.001,633,881,000.00-73.58%三、籌資活動(dòng)產(chǎn)生的現(xiàn)金流量：-0.00%吸取投資收到的現(xiàn)金---0.00%其中：子企業(yè)吸取少數(shù)股東投資收到的現(xiàn)金---0.00%獲得借款收到的現(xiàn)金16,536,500,000.0016,416,100,000.00120,400,000.000.73%發(fā)行債券收到的現(xiàn)金-3,959,000,000.00-3,959,000,000.00-100.00%收到其他與籌資活動(dòng)有關(guān)的現(xiàn)金1,143,960,000.00643,636,000.00500,324,000.0077.73%籌資活動(dòng)現(xiàn)金流入小計(jì)17,680,500,000.0021,018,700,000.00-3,338,200,000.00-15.88%償還債務(wù)支付的現(xiàn)金17,736,800,000.0017,343,600,000.00393,200,000.002.27%分派股利、利潤(rùn)或償付利息所支付的現(xiàn)金1,177,530,000.001,465,780,000.00-288,250,000.00-19.67%---0.00%支付其他與籌資活動(dòng)有關(guān)的現(xiàn)金15,888,800.0010,905,800.004,983,000.0045.69%籌資活動(dòng)現(xiàn)金流出小計(jì)18,930,200,000.0018,820,200,000.00110,000,000.000.58%籌資活動(dòng)產(chǎn)生的現(xiàn)金流量?jī)纛~-1,249,740,000.002,198,470,000.00-3,448,210,000.00-156.85%附注-0.00%匯率變動(dòng)對(duì)現(xiàn)金及現(xiàn)金等價(jià)物的影響-7,931,830.00-18,522,500.0010,590,670.00-57.18%現(xiàn)金及現(xiàn)金等價(jià)物凈增長(zhǎng)額135,939,000.00-499,008,000.00634,947,000.00-127.24%期初現(xiàn)金及現(xiàn)金等價(jià)物余額1,528,230,000.002,026,830,000.00-498,600,000.00-24.60%期末現(xiàn)金及現(xiàn)金等價(jià)物余額1,664,160,000.001,527,820,000.00136,340,000.008.92%凈利潤(rùn)-561,721,000.00325,667,000.00-887,388,000.00-272.48%少數(shù)股東權(quán)益---0.00%未確認(rèn)的投資損失---0.00%資產(chǎn)減值準(zhǔn)備34,345,300.00149,051,000.00-114,705,700.00-76.96%固定資產(chǎn)折舊、油氣資產(chǎn)折耗、生產(chǎn)性物資折舊1,062,010,000.001,673,260,000.00-611,250,000.00-36.53%無形資產(chǎn)攤銷19,172,300.0018,722,000.00450,300.002.41%長(zhǎng)期待攤費(fèi)用攤銷---0.00%待攤費(fèi)用的減少---0.00%預(yù)提費(fèi)用的增長(zhǎng)---0.00%處置固定資產(chǎn)、無形資產(chǎn)和其他長(zhǎng)期資產(chǎn)的損失2,999,910.00-1,800,330.004,800,240.00-266.63%固定資產(chǎn)報(bào)廢損失---0.00%公允價(jià)值變動(dòng)損失-364,231,000.00-88,902,600.00-275,328,400.00309.70%遞延收益增長(zhǎng)（減：減少）---0.00%估計(jì)負(fù)債---0.00%財(cái)務(wù)費(fèi)用940,190,000.00588,574,000.00351,616,000.0059.74%投資損失-87,512,200.0025,583,800.00-113,096,000.00-442.06%遞延所得稅資產(chǎn)減少-450,052,000.00-251,761,000.00-198,291,000.0078.76%遞延所得稅負(fù)債增長(zhǎng)-501,039.00-2,514,870.002,013,831.00-80.08%存貨的減少1,253,000,000.0011,959,900.001,241,040,100.0010376.68%經(jīng)營(yíng)性應(yīng)收項(xiàng)目的減少-755,337,000.00-1,794,230,000.001,038,893,000.00-57.90%經(jīng)營(yíng)性應(yīng)付項(xiàng)目的增長(zhǎng)887,906,000.00-1,112,030,000.001,999,936,000.00-179.85%已竣工尚未結(jié)算款的減少(減:增長(zhǎng))---0.00%已結(jié)算尚未竣工款的增長(zhǎng)(減:減少)---0.00%其他---0.00%經(jīng)營(yíng)活動(dòng)產(chǎn)生現(xiàn)金流量?jī)纛~1,980,270,000.00-458,419,000.002,438,689,000.00-531.98%債務(wù)轉(zhuǎn)為資本---0.00%一年內(nèi)到期的可轉(zhuǎn)換企業(yè)債券---0.00%融資租入固定資產(chǎn)---0.00%現(xiàn)金的期末余額1,664,160,000.001,527,820,000.00136,340,000.008.92%現(xiàn)金的期初余額1,528,230,000.002,026,830,000.00-498,600,000.00-24.60%現(xiàn)金等價(jià)物的期末余額---0.00%現(xiàn)金等價(jià)物的期初余額---0.00%現(xiàn)金及現(xiàn)金等價(jià)物的凈增長(zhǎng)額135,939,000.00-499,008,000.00634,947,000.00-127.24%該企業(yè)本年現(xiàn)金流量比年初有較大幅度的增長(zhǎng)，共增長(zhǎng)了624,360,000.00元。其中經(jīng)營(yíng)現(xiàn)金凈流量增長(zhǎng)了2,438,689,000.00元，投資現(xiàn)金凈流量增長(zhǎng)了1,633,881,000.00元，籌資現(xiàn)金凈流量減少了3,448,210,000.00元。由此可見，本年現(xiàn)金流量的減少重要是由于籌資活動(dòng)產(chǎn)生的，這對(duì)企業(yè)生產(chǎn)經(jīng)營(yíng)的影響不會(huì)很大，這種變動(dòng)模式符合成熟型企業(yè)現(xiàn)金流量的特點(diǎn)。經(jīng)營(yíng)活動(dòng)現(xiàn)金凈流量的增長(zhǎng)，重要是由于雖然經(jīng)營(yíng)活動(dòng)流入量較上年減少5,532,000,000.00元，不過經(jīng)營(yíng)活動(dòng)現(xiàn)金流出較上年減少7,970,800,000.00元，兩者相抵，使得經(jīng)營(yíng)現(xiàn)金流量增長(zhǎng)。在經(jīng)營(yíng)活動(dòng)現(xiàn)金流入量中，銷售商品、提供勞務(wù)獲得的現(xiàn)金收入較上年減少了5,510,300,000.00元，購(gòu)置商品、提供勞務(wù)支付的現(xiàn)金較上年減少了8,412,900,000.00元，兩者對(duì)經(jīng)營(yíng)現(xiàn)金流量的增長(zhǎng)起到了決定性的作用；另一方面，本年收到的稅費(fèi)返還減少，支付的稅金增長(zhǎng)，其他與經(jīng)營(yíng)活動(dòng)有關(guān)的現(xiàn)金流入減少，流出增長(zhǎng)，這些都對(duì)經(jīng)營(yíng)活動(dòng)現(xiàn)金凈流量的增長(zhǎng)起到了不利影響。投資活動(dòng)現(xiàn)金凈流量的增長(zhǎng)，重要是由于投資活動(dòng)流入量較上年增長(zhǎng)407,403,400.00元，而投資活動(dòng)流出量較上年減少1,226,470,000.00元，兩者共同作用使得投資現(xiàn)金流量增長(zhǎng)。在投資活動(dòng)現(xiàn)金流入量中，獲得投資收益收到的現(xiàn)金較上年增長(zhǎng)77,970,840.00元，這對(duì)整個(gè)投資現(xiàn)金流量的增長(zhǎng)起著最為重要的作用?；I資活動(dòng)現(xiàn)金凈流量的減少，重要是由于籌資現(xiàn)金流入量減少了3,338,200,000.00元，而籌資現(xiàn)金流出量又增長(zhǎng)了110,000,000.00元，兩者共同作用使得籌資現(xiàn)金凈流量發(fā)生很大幅度的減少。其中借款收到的現(xiàn)金增長(zhǎng)了120,400,000.00元，償還債務(wù)以及支付利息、股利的現(xiàn)金支出大幅增長(zhǎng)，這些都是導(dǎo)致本年籌資現(xiàn)金流量減少的重要原因。南鋼股份現(xiàn)金流量表垂直分析：匯報(bào)期12311231流入構(gòu)造流出構(gòu)造單位元元一、經(jīng)營(yíng)活動(dòng)產(chǎn)生的現(xiàn)金流量銷售商品、提供勞務(wù)收到的現(xiàn)金23,477,300,000.0028,987,600,000.000.98客戶存款和同業(yè)寄存款項(xiàng)凈增長(zhǎng)額--0.00向中央銀行借款凈增長(zhǎng)額--0.00向其他金融機(jī)構(gòu)拆入資金凈增長(zhǎng)額--0.00收到原保險(xiǎn)協(xié)議保費(fèi)獲得的現(xiàn)金--0.00收到再保險(xiǎn)業(yè)務(wù)現(xiàn)金凈額--0.00保戶儲(chǔ)金及投資款凈增長(zhǎng)額--0.00處置交易性金融資產(chǎn)凈增長(zhǎng)額--0.00收取利息、手續(xù)費(fèi)及傭金的現(xiàn)金--0.00拆入資金凈增長(zhǎng)額--0.00回購(gòu)業(yè)務(wù)資金凈增長(zhǎng)額--0.00收到的稅費(fèi)返還228,513,000.00250,597,000.000.01收到的其他與經(jīng)營(yíng)活動(dòng)有關(guān)的現(xiàn)金163,206,000.00162,923,000.000.01經(jīng)營(yíng)活動(dòng)現(xiàn)金流入小計(jì)23,869,100,000.0029,401,100,000.001.00購(gòu)置商品、接受勞務(wù)支付的現(xiàn)金18,468,700,000.0026,881,600,000.000.84客戶貸款及墊款凈增長(zhǎng)額--0.00寄存中央銀行和同業(yè)款項(xiàng)凈增長(zhǎng)額--0.00支付原保險(xiǎn)協(xié)議賠付款項(xiàng)的現(xiàn)金--0.00支付利息、手續(xù)費(fèi)及傭金的現(xiàn)金--0.00支付保單紅利的現(xiàn)金--0.00支付給職工以及為職工支付的現(xiàn)金1,264,670,000.001,222,510,000.000.06支付的各項(xiàng)稅費(fèi)1,173,250,000.001,075,120,000.000.05支付的其他與經(jīng)營(yíng)活動(dòng)有關(guān)的現(xiàn)金982,177,000.00680,365,000.000.04經(jīng)營(yíng)活動(dòng)現(xiàn)金流出小計(jì)21,888,800,000.0029,859,600,000.001.00經(jīng)營(yíng)活動(dòng)產(chǎn)生的現(xiàn)金流量?jī)纛~1,980,270,000.00-458,419,000.00二、投資活動(dòng)產(chǎn)生的現(xiàn)金流量：收回投資所收到的現(xiàn)金339,801,000.007,447,230.000.79獲得投資收益所收到的現(xiàn)金82,918,500.004,947,660.000.19處置固定資產(chǎn)、無形資產(chǎn)和其他長(zhǎng)期資產(chǎn)所收回的現(xiàn)金凈額6,406,440.004,522,790.000.01處置子企業(yè)及其他營(yíng)業(yè)單位收到的現(xiàn)金凈額--0.00收到的其他與投資活動(dòng)有關(guān)的現(xiàn)金-4,804,970.000.00減少質(zhì)押和定期存款所收到的現(xiàn)金--0.00投資活動(dòng)現(xiàn)金流入小計(jì)429,126,000.0021,722,600.001.00購(gòu)建固定資產(chǎn)、無形資產(chǎn)和其他長(zhǎng)期資產(chǎn)所支付的現(xiàn)金769,061,000.00898,635,000.000.76投資所支付的現(xiàn)金203,123,000.001,343,620,000.000.20質(zhì)押貸款凈增長(zhǎng)額--0.00獲得子企業(yè)及其他營(yíng)業(yè)單位支付的現(xiàn)金凈額41,406,000.00-0.04支付的其他與投資活動(dòng)有關(guān)的現(xiàn)金2,195,190.00-0.00增長(zhǎng)質(zhì)押和定期存款所支付的現(xiàn)金--0.00投資活動(dòng)現(xiàn)金流出小計(jì)1,015,790,000.002,242,260,000.001.00投資活動(dòng)產(chǎn)生的現(xiàn)金流量?jī)纛~-586,659,000.00-2,220,540,000.00三、籌資活動(dòng)產(chǎn)生的現(xiàn)金流量：吸取投資收到的現(xiàn)金--0.00其中：子企業(yè)吸取少數(shù)股東投資收到的現(xiàn)金--0.00獲得借款收到的現(xiàn)金16,536,500,000.0016,416,100,000.000.94發(fā)行債券收到的現(xiàn)金-3,959,000,000.000.00收到其他與籌資活動(dòng)有關(guān)的現(xiàn)金1,143,960,000.00643,636,000.000.06籌資活動(dòng)現(xiàn)金流入小計(jì)17,680,500,000.0021,018,700,000.001.00償還債務(wù)支付的現(xiàn)金17,736,800,000.0017,343,600,000.000.94分派股利、利潤(rùn)或償付利息所支付的現(xiàn)金1,177,530,000.001,465,780,000.000.06--0.00支付其他與籌資活動(dòng)有關(guān)的現(xiàn)金15,888,800.0010,905,800.000.00籌資活動(dòng)現(xiàn)金流出小計(jì)18,930,200,000.0018,820,200,000.001.00籌資活動(dòng)產(chǎn)生的現(xiàn)金流量?jī)纛~-1,249,740,000.002,198,470,000.001．現(xiàn)金流入構(gòu)造在所有現(xiàn)金流入中，經(jīng)營(yíng)占65.86%，投資占1.02%，籌資占42.12%。可見經(jīng)營(yíng)活動(dòng)所產(chǎn)生的現(xiàn)金流入屬于重要的、基本的，這種狀況符合生產(chǎn)型企業(yè)的行業(yè)特點(diǎn)。2．現(xiàn)金流出構(gòu)造在所有現(xiàn)金流出中，經(jīng)營(yíng)占58.64%，投資占4.40%，籌資占36.96%，可見經(jīng)營(yíng)活動(dòng)所產(chǎn)生的現(xiàn)金流出占絕對(duì)比重。3．現(xiàn)金流入與現(xiàn)金流出構(gòu)造相適應(yīng)狀況經(jīng)營(yíng)活動(dòng)現(xiàn)金流入、現(xiàn)金流出均占主導(dǎo)，籌資次之，投資最不重要，現(xiàn)金流入與流出基本相適應(yīng)。但存在的問題是經(jīng)營(yíng)活動(dòng)產(chǎn)生的現(xiàn)金流入很大程度上被投資活動(dòng)消耗掉，而投資活動(dòng)產(chǎn)生的現(xiàn)金流入?yún)s相對(duì)較低，可見其投資的效益并不是十分理想。這種構(gòu)造的合理性應(yīng)結(jié)合企業(yè)生產(chǎn)經(jīng)營(yíng)特點(diǎn)和籌資與投資方略進(jìn)行分析。南鋼股份盈利能力分析：盈利能力總資產(chǎn)利潤(rùn)率(%)-1.6416-1.49560.22460.2327主營(yíng)業(yè)務(wù)利潤(rùn)率(%)3.39584.04015.78226.1042總資產(chǎn)凈利潤(rùn)率(%)-1.6386-1.48820.22160.2343成本費(fèi)用利潤(rùn)率(%)-2.5576-2.94150.22121.1472營(yíng)業(yè)利潤(rùn)率(%)-2.9159-3.16180.06490.8817主營(yíng)業(yè)務(wù)成本率(%)96.95.599793.888993.5643銷售凈利率(%)-1.7536-2.03050.42050.8916股本酬勞率(%)264.2584-13.1208271.8642.0895凈資產(chǎn)酬勞率(%)116.398-5.7002111.00450.8274資產(chǎn)酬勞率(%)29.9315-1.495631.52950.2327銷售毛利率(%)3.79844.48786.19646.5286三項(xiàng)費(fèi)用比重6.93866.33015.55574.864非主營(yíng)比重-20.4231-19.1705172.013813.6661主營(yíng)利潤(rùn)比重-128.2293-134.27372620.524538.7777股息發(fā)放率(%)-0.0018-0.0020.01340.0096投資收益率(%)--------主營(yíng)業(yè)務(wù)利潤(rùn)(元).凈資產(chǎn)收益率(%)-6.38-5.710.790.83加權(quán)凈資產(chǎn)收益率(%)-6.07-5.460.770.83扣除非常常性損益后的凈利潤(rùn)(元)-.08--9362337.87--銷售收入息稅前利潤(rùn)總資產(chǎn)周轉(zhuǎn)率＝──────銷售利潤(rùn)率＝──────×100%平均總資產(chǎn)銷售收入息稅前利潤(rùn)總資產(chǎn)酬勞率＝──────×100%平均總資產(chǎn)總資產(chǎn)酬勞率＝總資產(chǎn)周轉(zhuǎn)率×銷售利潤(rùn)率營(yíng)業(yè)收入利潤(rùn)率=營(yíng)業(yè)利潤(rùn)/營(yíng)業(yè)收入營(yíng)業(yè)收入毛利率=（營(yíng)業(yè)收入-營(yíng)業(yè)成本）/營(yíng)業(yè)收入總收入利潤(rùn)率=利潤(rùn)總額/營(yíng)業(yè)收入銷售凈利潤(rùn)率=凈利潤(rùn)/營(yíng)業(yè)收入銷售息稅前利潤(rùn)率=息稅前利潤(rùn)/營(yíng)業(yè)收入營(yíng)業(yè)成本利潤(rùn)率=營(yíng)業(yè)利潤(rùn)/營(yíng)業(yè)成本×100%營(yíng)業(yè)費(fèi)用利潤(rùn)率=營(yíng)業(yè)利潤(rùn)/營(yíng)業(yè)費(fèi)用×100%所有成本費(fèi)用總利潤(rùn)率=利潤(rùn)總額/(營(yíng)業(yè)費(fèi)用+營(yíng)業(yè)外支出)×100%所有成本費(fèi)用凈利潤(rùn)率=凈利潤(rùn)/(營(yíng)業(yè)費(fèi)用+營(yíng)業(yè)外支出)×100%一、資本經(jīng)營(yíng)盈利能力分析分析對(duì)象：-6.38%-0.83%=-7.21%原因分析：：[0.2327%＋（0.2327%—1.1472%）×0.7176]×（1—25%）＝-3.18%第一次替代：[-1.6416%＋（-1.6416%—1.1472%）×0.7176]×（1—25%）＝-2.73%第二次替代：[-1.6416%＋（-1.6416%+2.2576%）×0.7176]×（1—25%）＝-0.89%第三次替代：[-1.6416%＋（-1.6416%+2.2576%）×0.7429]×（1—25%）＝-0.88%：[-1.6416%＋（-1.6416%+2.2576%）×0.7429]×（1—32.95%）＝-0.79%總資產(chǎn)酬勞率變動(dòng)影響：－0.62%負(fù)債利息率影響：0.01%負(fù)債與凈資產(chǎn)之比影響：0.34%所得稅稅率影響：－2.45%評(píng)價(jià)：該企業(yè)總體資本獲利能力下降。凈資產(chǎn)收益率較上年下降了7.21%。其中不利原由于總資產(chǎn)酬勞率和所得稅稅率的變動(dòng)。有利原由于負(fù)債與凈資產(chǎn)之比和負(fù)債利息率的變動(dòng)。但總體上，不利原因占主導(dǎo)地位，使資本獲利能力下降二、資產(chǎn)經(jīng)營(yíng)盈利能力分析

分析對(duì)象：-1.6416%－0.2327%＝－1.8733%原因分析：（1）總資產(chǎn)周轉(zhuǎn)率變動(dòng)的影響=（0.9344－0.2627）×11.55%=7.76%（2）銷售息稅前利潤(rùn)率的影響=（10.46%－11.55%）×0.9344=-1.01%評(píng)價(jià)：分析成果表明，南鋼股份所有資產(chǎn)酬勞率比上年下降了1.8733%，是由于銷售息稅前利潤(rùn)率的下降和總資產(chǎn)周轉(zhuǎn)率的上升共同影響的成果?？傎Y產(chǎn)周轉(zhuǎn)率較上升了0.6717次，使總資產(chǎn)酬勞率上升了7.76%，銷售息稅前利潤(rùn)率使總資產(chǎn)酬勞率下降了1.01%。三、上市企業(yè)盈利能力特殊指標(biāo)分析每股指標(biāo)攤薄每股收益(元)-0.1449-0.13120.01940.0209加權(quán)每股收益(元)-0.1448-0.1310.0190.0209每股收益_調(diào)整后(元)-0.1448-0.1310.0190.0209扣除非常常性損益后的每股收益(元)-0.2708-0.1510.00240.0005每股凈資產(chǎn)_調(diào)整前(元)2.27032.30182.44912.5254每股凈資產(chǎn)_調(diào)整后(元)2.26842.32.4472.52每股經(jīng)營(yíng)性現(xiàn)金流(元)0.5109-0.07980.0186-0.054每股資本公積金(元)0.10280.10450.10450.1045每股未分派利潤(rùn)(元)0.99271.01651.16711.2386調(diào)整后的每股凈資產(chǎn)(元)--------1．每股收益分析：分析對(duì)象：每股收益0.0209元每股收益-0.1448元-0.1448-0.0209＝－0.1657元原因分析：每股賬面價(jià)值變動(dòng)的影響＝（13.11-12.74）×10.95%＝0.04元一般股權(quán)益酬勞率變動(dòng)的影響＝13.11×（8.23%-10.95%）＝－0.35元2．一般股權(quán)益酬勞率分析：分析對(duì)象：8.23%－10.95%＝－2.72%原因分析：凈利潤(rùn)變動(dòng)的影響＝（52865－68314）/624128×100%＝－2.48%一般股權(quán)益平均額變動(dòng)的影響＝52865/642384－52865/624128＝－0.24%3．股利發(fā)放率分析：分析對(duì)象：-0.0018%－0.0096%＝－0.0114%原因分析：價(jià)格與收益比率變動(dòng)的影響＝（5.56－4.68）×7.08%＝6.23%股利報(bào)償率變動(dòng)的影響＝（5.5%－7.08%）×5.56＝－8.78%4．價(jià)格與收益比率分析：分析對(duì)象：5.56－4.68＝0.88原因分析：每股市價(jià)變動(dòng)的影響＝（6-6.5）/1.39＝0.36每股收益變動(dòng)的影響＝6/1.08－6/1.39＝1.24

總體評(píng)價(jià)：由以上分析可看出除價(jià)格與收益比率之外，每股收益、一般股權(quán)益酬勞率、股利發(fā)放率都是較上年有所下降的。南鋼股份營(yíng)運(yùn)能力分析：營(yíng)運(yùn)能力應(yīng)收賬款周轉(zhuǎn)率(次)62.65838.408226.753913.9508應(yīng)收賬款周轉(zhuǎn)天數(shù)(天)5.74559.37313.45625.805存貨周轉(zhuǎn)天數(shù)(天)60.358178.6902124.078251.0285存貨周轉(zhuǎn)率(次)5.96444.57492.90141.4341固定資產(chǎn)周轉(zhuǎn)率(次)2.116--1.1882--總資產(chǎn)周轉(zhuǎn)率(次)0.93440.73290.52690.2627總資產(chǎn)周轉(zhuǎn)天數(shù)(天)385.274491.1993683.24161370.3845流動(dòng)資產(chǎn)周轉(zhuǎn)率(次)2.21911.6911.2140.5814流動(dòng)資產(chǎn)周轉(zhuǎn)天數(shù)(天)162.2279212.8918296.540461