南钢股份财务报表分析(共25页).doc

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1、精选优质文档-倾情为你奉上南钢股份财务分析南钢财务资产负债表水平分析：报表日期变动值变动率单位元元流动资产货币资金3,463,930,000.003,462,310,000.001,620,000.000.05%结算备付金0000.00%拆出资金0000.00%交易性金融资产1,407,070,000.001,024,160,000.00382,910,000.0037.39%衍生金融资产0000.00%应收票据2,140,940,000.003,683,760,000.00-1,542,820,000.00-41.88%应收账款576,156,000.00446,285,000.00129,

2、871,000.0029.10%预付款项687,186,000.00773,759,000.00-86,573,000.00-11.19%应收保费0000.00%应收分保账款0000.00%应收分保合同准备金0000.00%应收利息986,881.008,568,710.00-7,581,829.00-88.48%应收股利0000.00%其他应收款249,799,000.00134,639,000.00115,160,000.0085.53%应收出口退税0000.00%应收补贴款0000.00%应收保证金0000.00%内部应收款0000.00%买入返售金融资产0000.00%存货4,551,

3、080,000.005,781,980,000.00-1,230,900,000.00-21.29%待摊费用0000.00%待处理流动资产损益0000.00%一年内到期的非流动资产0000.00%其他流动资产279,124,000.00197,121,000.0082,003,000.0041.60%流动资产合计13,356,300,000.0015,512,600,000.00-2,156,300,000.00-13.90%非流动资产00.00%发放贷款及垫款0000.00%可供出售金融资产0000.00%持有至到期投资0000.00%长期应收款0000.00%长期股权投资700,414,0

4、00.00880,380,000.00-179,966,000.00-20.44%其他长期投资0000.00%投资性房地产0000.00%固定资产原值25,737,000,000.0025,291,500,000.00445,500,000.001.76%累计折旧10,803,700,000.009,949,440,000.00854,260,000.008.59%固定资产净值14,933,300,000.0015,342,100,000.00-408,800,000.00-2.66%固定资产减值准备5,867,180.005,867,180.0000.00%固定资产净额14,927,500,

5、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%工程物资0000.00%固定资产清理0000.00%生产性生物资产0000.00%公益性生物资产0000.00%油气资产0000.00%无形资产945,803,000.00989,665,000.00-43,862,000.00-4.43%开发支出0000.00%商誉0000.00%长期待摊费用0000.00%股权分置流通权0000.00%递延所得税资产978,247,000.00528,1

6、95,000.00450,052,000.0085.21%其他非流动资产0000.00%非流动资产合计20,861,900,000.0018,828,300,000.002,033,600,000.0010.80%资产总计34,218,200,000.0034,340,900,000.00-122,700,000.00-0.36%流动负债00.00%短期借款7,867,180,000.008,350,280,000.00-483,100,000.00-5.79%向中央银行借款0000.00%吸收存款及同业存放0000.00%拆入资金0000.00%交易性金融负债09,289,340.00-9,

7、289,340.00-100.00%衍生金融负债0000.00%应付票据3,114,380,000.001,216,450,000.001,897,930,000.00156.02%应付账款3,463,090,000.002,691,280,000.00771,810,000.0028.68%预收款项934,035,000.001,365,250,000.00-431,215,000.00-31.59%卖出回购金融资产款0000.00%应付手续费及佣金0000.00%应付职工薪酬183,034,000.00194,333,000.00-11,299,000.00-5.81%应交税费-136,8

8、51,000.00-62,541,100.00-74,309,900.00118.82%应付利息326,360,000.00309,655,000.0016,705,000.005.39%应付股利1,004,370.00777,576.00226,794.0029.17%其他应交款0000.00%应付保证金0000.00%内部应付款0000.00%其他应付款274,797,000.00492,849,000.00-218,052,000.00-44.24%预提费用0000.00%预计流动负债0000.00%应付分保账款0000.00%保险合同准备金0000.00%代理买卖证券款0000.00%

9、代理承销证券款0000.00%国际票证结算0000.00%国内票证结算0000.00%递延收益0000.00%应付短期债券0000.00%一年内到期的非流动负债991,560,000.001,175,130,000.00-183,570,000.00-15.62%其他流动负债321,385,000.00278,433,000.0042,952,000.0015.43%流动负债合计17,340,000,000.0016,021,200,000.001,318,800,000.008.23%非流动负债00.00%长期借款1,503,950,000.002,053,530,000.00-549,58

10、0,000.00-26.76%应付债券3,968,760,000.003,962,900,000.005,860,000.000.15%长期应付款2,490,960,000.002,488,080,000.002,880,000.000.12%专项应付款7,000,000.0007,000,000.000.00%预计非流动负债8,387,990.007,820,840.00567,150.007.25%递延所得税负债60,675.00561,714.00-501,039.00-89.20%其他非流动负债99,966,500.00108,777,000.00-8,810,500.00-8.10%

11、非流动负债合计8,079,090,000.008,621,680,000.00-542,590,000.00-6.29%负债合计25,419,100,000.0024,642,900,000.00776,200,000.003.15%所有者权益00.00%实收资本(或股本)3,875,750,000.003,875,750,000.0000.00%资本公积398,419,000.00404,825,000.00-6,406,000.00-1.58%库存股0000.00%专项储备21,097,800.0040,865,600.00-19,767,800.00-48.37%盈余公积658,676,

12、000.00658,676,000.0000.00%一般风险准备0000.00%未确定的投资损失0000.00%未分配利润3,847,620,000.004,719,580,000.00-871,960,000.00-18.48%拟分配现金股利0000.00%外币报表折算差额-9,781,810.00-9,447,540.00-334,270.003.54%归属于母公司股东权益合计8,791,780,000.009,690,260,000.00-898,480,000.00-9.27%少数股东权益7,338,490.007,733,250.00-394,760.00-5.10%所有者权益(或股

13、东权益)合计8,799,120,000.009,697,990,000.00-898,870,000.00-9.27%负债和所有者权益(或股东权益)总计34,218,200,000.0034,340,900,000.00-122,700,000.00-0.36%（一）资产分析南钢股份2012年资产总额较2011年减少了122,700,000.00元。增长率为-0.36%。这说明南钢股份的资产规模有所缩小，但变化率很小。经分析，企业资产的减少主要是由流动资产减少和固定资产的增加抵消所得。2012年流动资产较上年减少了2,156,300,000.00元，使全部资产减少6.30%。这表明企业资产的

14、流动性有所降低；2012年固定资产较上年增加了2,033,600,000.00元，使全部资产增加了5.94%。这有利于企业生产能力的提高。从企业的长期投资看，减少了179,966,000.00元，主要是由于长期投资减值准备造成的。从企业的无形资产来看，减少了43,862,000.00元，主要是由于无形资产减值准备造成的。（二）权益分析分析可见，邯郸钢铁筹资规模2012年较2011年减少了0.36%，减少了122,700,000.00元。主要是由于虽然负债总额规模有所增加，但是资产总额规模却减少的更多的结果。具体来说,主要是应收票据与存货减少。共减少了2,773,720,000.00 元，使总筹

15、资规模减少了8.11%，在2012年中，股本没有变化，所有者权益资本减少与负债资本增加筹资政策。应付票据增长幅度最大，使公司负债结构有所加大，但是专项储备缩减较大，其后果是：增加了筹资成本。南钢股份资产负债表垂直分析：报表日期2012年结构2011年结构结构变动单位元元流动资产货币资金3,463,930,000.003,462,310,000.0010.12%10.08%-0.04%结算备付金000.00%0.00%0.00%拆出资金000.00%0.00%0.00%交易性金融资产1,407,070,000.001,024,160,000.004.11%2.98%-1.13%衍生金融资产000

16、.00%0.00%0.00%应收票据2,140,940,000.003,683,760,000.006.26%10.73%4.47%应收账款576,156,000.00446,285,000.001.68%1.30%-0.38%预付款项687,186,000.00773,759,000.002.01%2.25%0.24%应收保费000.00%0.00%0.00%应收分保账款000.00%0.00%0.00%应收分保合同准备金000.00%0.00%0.00%应收利息986,881.008,568,710.000.00%0.02%0.02%应收股利000.00%0.00%0.00%其他应收款24

17、9,799,000.00134,639,000.000.73%0.39%-0.34%应收出口退税000.00%0.00%0.00%应收补贴款000.00%0.00%0.00%应收保证金000.00%0.00%0.00%内部应收款000.00%0.00%0.00%买入返售金融资产000.00%0.00%0.00%存货4,551,080,000.005,781,980,000.0013.30%16.84%3.54%待摊费用000.00%0.00%0.00%待处理流动资产损益000.00%0.00%0.00%一年内到期的非流动资产000.00%0.00%0.00%其他流动资产279,124,000.

18、00197,121,000.000.82%0.57%-0.24%流动资产合计13,356,300,000.0015,512,600,000.0039.03%45.17%6.14%非流动资产0.00%0.00%0.00%发放贷款及垫款000.00%0.00%0.00%可供出售金融资产000.00%0.00%0.00%持有至到期投资000.00%0.00%0.00%长期应收款000.00%0.00%0.00%长期股权投资700,414,000.00880,380,000.002.05%2.56%0.52%其他长期投资000.00%0.00%0.00%投资性房地产000.00%0.00%0.00%固

19、定资产原值25,737,000,000.0025,291,500,000.0075.21%73.65%-1.57%累计折旧10,803,700,000.009,949,440,000.0031.57%28.97%-2.60%固定资产净值14,933,300,000.0015,342,100,000.0043.64%44.68%1.03%固定资产减值准备5,867,180.005,867,180.000.02%0.02%0.00%固定资产净额14,927,500,000.0015,336,200,000.0043.62%44.66%1.03%在建工程3,309,980,000.001,093,8

20、10,000.009.67%3.19%-6.49%工程物资000.00%0.00%0.00%固定资产清理000.00%0.00%0.00%生产性生物资产000.00%0.00%0.00%公益性生物资产000.00%0.00%0.00%油气资产000.00%0.00%0.00%无形资产945,803,000.00989,665,000.002.76%2.88%0.12%开发支出000.00%0.00%0.00%商誉000.00%0.00%0.00%长期待摊费用000.00%0.00%0.00%股权分置流通权000.00%0.00%0.00%递延所得税资产978,247,000.00528,195

21、,000.002.86%1.54%-1.32%其他非流动资产000.00%0.00%0.00%非流动资产合计20,861,900,000.0018,828,300,000.0060.97%54.83%-6.14%资产总计34,218,200,000.0034,340,900,000.00100.00%100.00%0.00%流动负债0.00%0.00%0.00%短期借款7,867,180,000.008,350,280,000.0022.99%24.32%1.32%向中央银行借款000.00%0.00%0.00%吸收存款及同业存放000.00%0.00%0.00%拆入资金000.00%0.00

22、%0.00%交易性金融负债09,289,340.000.00%0.03%0.03%衍生金融负债000.00%0.00%0.00%应付票据3,114,380,000.001,216,450,000.009.10%3.54%-5.56%应付账款3,463,090,000.002,691,280,000.0010.12%7.84%-2.28%预收款项934,035,000.001,365,250,000.002.73%3.98%1.25%卖出回购金融资产款000.00%0.00%0.00%应付手续费及佣金000.00%0.00%0.00%应付职工薪酬183,034,000.00194,333,000

23、.000.53%0.57%0.03%应交税费-136,851,000.00-62,541,100.00-0.40%-0.18%0.22%应付利息326,360,000.00309,655,000.000.95%0.90%-0.05%应付股利1,004,370.00777,576.000.00%0.00%0.00%其他应交款000.00%0.00%0.00%应付保证金000.00%0.00%0.00%内部应付款000.00%0.00%0.00%其他应付款274,797,000.00492,849,000.000.80%1.44%0.63%预提费用000.00%0.00%0.00%预计流动负债00

24、0.00%0.00%0.00%应付分保账款000.00%0.00%0.00%保险合同准备金000.00%0.00%0.00%代理买卖证券款000.00%0.00%0.00%代理承销证券款000.00%0.00%0.00%国际票证结算000.00%0.00%0.00%国内票证结算000.00%0.00%0.00%递延收益000.00%0.00%0.00%应付短期债券000.00%0.00%0.00%一年内到期的非流动负债991,560,000.001,175,130,000.002.90%3.42%0.52%其他流动负债321,385,000.00278,433,000.000.94%0.81%

25、-0.13%流动负债合计17,340,000,000.0016,021,200,000.0050.67%46.65%-4.02%非流动负债0.00%0.00%0.00%长期借款1,503,950,000.002,053,530,000.004.40%5.98%1.58%应付债券3,968,760,000.003,962,900,000.0011.60%11.54%-0.06%长期应付款2,490,960,000.002,488,080,000.007.28%7.25%-0.03%专项应付款7,000,000.0000.02%0.00%-0.02%预计非流动负债8,387,990.007,820

26、,840.000.02%0.02%0.00%递延所得税负债60,675.00561,714.000.00%0.00%0.00%其他非流动负债99,966,500.00108,777,000.000.29%0.32%0.02%非流动负债合计8,079,090,000.008,621,680,000.0023.61%25.11%1.50%负债合计25,419,100,000.0024,642,900,000.0074.29%71.76%-2.53%所有者权益0.00%0.00%0.00%实收资本(或股本)3,875,750,000.003,875,750,000.0011.33%11.29%-0.

27、04%资本公积398,419,000.00404,825,000.001.16%1.18%0.01%库存股000.00%0.00%0.00%专项储备21,097,800.0040,865,600.000.06%0.12%0.06%盈余公积658,676,000.00658,676,000.001.92%1.92%-0.01%一般风险准备000.00%0.00%0.00%未确定的投资损失000.00%0.00%0.00%未分配利润3,847,620,000.004,719,580,000.0011.24%13.74%2.50%拟分配现金股利000.00%0.00%0.00%外币报表折算差额-9,

28、781,810.00-9,447,540.00-0.03%-0.03%0.00%归属于母公司股东权益合计8,791,780,000.009,690,260,000.0025.69%28.22%2.52%少数股东权益7,338,490.007,733,250.000.02%0.02%0.00%所有者权益(或股东权益)合计8,799,120,000.009,697,990,000.0025.71%28.24%2.53%负债和所有者权益(或股东权益)总计34,218,200,000.0034,340,900,000.00100.00%100.00%0.00%（一）资产结构分析2012年南钢股份的流动

29、资产占资产总额的39.03%，长期资产占60.97%。相对来讲，流动性不是很强；因为南钢股份的无形资产为945,803,000.00元，只占总资产2.76%，所以它的收入来源主要是生产营销；南钢股份的固定资产与流动资产的比例大约为3：2，这种结构是否合理还应结合钢铁企业特点等相关信息才能做出判断。它是属于制造业企业，生产很大比例，所以其固定资产比重大些还是合理的。（二）权益结构分析在2012年，企业股东权益为25.71%，长期负债占23.61%，流动负债占50.67%，说明公司的筹资政策主要是以负债为主，以所有者权益为辅。同时与20011年比较，借入长期资本，对公司的经营是扩大的效果，利用了财

30、务杠杆作用，减少了资金成本，同时增大了企业的偿债压力扩大了企业的财务风险。问题：企业内部货币资金的过多，它的来源应该是流动负债所带来的，对货币的利用率不高。南钢股份利润表水平分析：报表日期变动额变动率单位元元一、营业总收入32,032,100,000.00 38,565,200,000.00 -6,533,100,000.00 -16.94%营业收入32,032,100,000.00 38,565,200,000.00 -6,533,100,000.00 -16.94%利息收入0.00 0.00 - 0.00%已赚保费0.00 0.00 - 0.00%手续费及佣金收入0.00 0.00 - 0

31、.00%房地产销售收入0.00 0.00 - 0.00%其他业务收入0.00 0.00 - 0.00%二、营业总成本33,402,000,000.00 38,624,700,000.00 -5,222,700,000.00 -13.52%营业成本30,815,300,000.00 36,242,800,000.00 -5,427,500,000.00 -14.98%利息支出0.00 0.00 - 0.00%手续费及佣金支出0.00 0.00 - 0.00%房地产销售成本0.00 0.00 - 0.00%研发费用0.00 0.00 - 0.00%退保金0.00 0.00 - 0.00%赔付支出净

32、额0.00 0.00 - 0.00%提取保险合同准备金净额0.00 0.00 - 0.00%保单红利支出0.00 0.00 - 0.00%分保费用0.00 0.00 - 0.00%其他业务成本0.00 0.00 - 0.00%营业税金及附加128,961,000.00 102,726,000.00 26,235,000.00 25.54%销售费用420,513,000.00 398,249,000.00 22,264,000.00 5.59%管理费用845,003,000.00 838,193,000.00 6,810,000.00 0.81%财务费用957,054,000.00 813,38

33、7,000.00 143,667,000.00 17.66%资产减值损失235,108,000.00 229,328,000.00 5,780,000.00 2.52%公允价值变动收益364,231,000.00 88,902,600.00 275,328,400.00 309.70%投资收益87,512,200.00 (25,583,800.00) 113,096,000.00 -442.06%其中:对联营企业和合营企业的投资收益13,276,700.00 36,372,200.00 -23,095,500.00 -63.50%汇兑收益(15,851,400.00)259,769,000.0

34、0 -275,620,400.00 -106.10%期货损益0.00 0.00 - 0.00%托管收益0.00 0.00 - 0.00%补贴收入0.00 0.00 - 0.00%其他业务利润0.00 0.00 - 0.00%三、营业利润(934,028,000.00)263,535,000.00 -1,197,563,000.00 -454.42%营业外收入104,524,000.00 41,581,900.00 62,942,100.00 151.37%营业外支出18,788,500.00 24,081,900.00 -5,293,400.00 -21.98%非流动资产处置损失6,068,1

35、20.00 518,721.00 5,549,399.00 1069.82%利润总额(848,292,000.00)281,035,000.00 -1,129,327,000.00 -401.85%所得税费用(286,572,000.00)(44,632,700.00) -241,939,300.00 542.07%未确认投资损失0.00 0.00 - 0.00%四、净利润(561,721,000.00)325,667,000.00 -887,388,000.00 -272.48%归属于母公司所有者的净利润(561,326,000.00)325,351,000.00 -886,677,000.

36、00 -272.53%少数股东损益(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%稀释每股收益(0.14)0.08 -0.22 -281.00%六、其他综合收益(334,273.00)(3,310,080.00) 2,975,807.00 -89.90%七、综合收益总额(562,055,000.00)322,357,000.00 -884,412,000.00 -274.36%归属于母公司所有者的综合收益总额(561,660,000.00)322,041,000.00

37、 -883,701,000.00 -274.41%归属于少数股东的综合收益总额(394,764.00)316,440.00 -711,204.00 -224.75%1各利润分析：从利润形成的角度看，进行年以下分析：（1）净利润或税后利润分析。南钢股份2012实现净利润-561,721,000.00元，减少了272.48%,减少绝对额比较大，幅度也比较大。从水平分析来看，公司净利润的减少主要是由于利润总额的大幅度减少而引起的；利润总额2012年为-934,028,000.00元，比2011年亏损了1,129,327,000.00 元，整长率为-401.85%，不论从绝对额和相对数而言都十分大。（2）利润总额分析。该公司2012年利润总额减少1,129,327,000.00元，增长率为-401.85%，亏损巨大。其中，减少的主要原因是营业利润比上年亏损了1,197,563,000.00元，增长率为-454.42%，其次为非流动资产处置损失，增加5,549,399.00元，增长幅度很大，另外汇兑收益减少了275,620,400.00元，增长率为-106.10%，这也是影响利润总额的不利因素。而影响总额减少的还有营业收入，减少了6,533,100,000.00元，增长了-16.94%，幅度数