華泰公司財務

華泰公司財務分析會計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.報表分析

三.盈利能力分析

四.償債能力分析

五.營運能力分析

六.公司存在的問題

七.對公司的改進建議公司基本情況簡介

公司法定中文名稱：山東華泰紙業(yè)股份有限公司公司法定中文名稱縮寫：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股簡稱：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)謠營焦范屬圍充包說括冬：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（盜不誓含券化山學傳危倦險舍品根）餐及煮機藏械款制梢造瞎、競銷迅售探；脈紙拆漿衣的肥生冶產(chǎn)寬、糞銷更售臣；帽本薯企喜業(yè)良自爸產(chǎn)懇產(chǎn)弊品拍及巖相改關蛙技必術燒的織進倒出己口保業(yè)閱務到。也公咬司象主御導內產(chǎn)概品貌為填中申高割檔棟新告聞載紙援、區(qū)雙傅膠瀉紙筋和域書備寫現(xiàn)紙裙，的主斃業(yè)礦比京較晉鮮藍明微。繪公侄司森現(xiàn)衛(wèi)擁哪有均年粉產(chǎn)北1則2鹿0姓萬茫噸傅新窩聞雖紙塞的月生村產(chǎn)杯能射力稱，技市婦場筋占告有岡率旨約必為匠3品0站％汪，丙是躺目疫前臨國弱內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應收票據(jù)

176,931,561.0068,412,669.6053,752,754.64應收賬款

411,693,604.00334,602,477.79265,929,324.64其他應收款

4,919,943.006,129,380.497,135,599.26預付賬款

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

578,941,840.00513,001,518.37425,868,351.41待攤費用

219,999.00723,337.37471,570.83流動資產(chǎn)合計

1,840,897,823.001,447,758,900.181,170,126,644.27長期股權投資

85,663,315.005,374,141.164,812,524.38長期投資合計

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

7,154,495,391.004,982,162,803.962,815,980,281.72減：累計折舊

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

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

63,499.00162,499.84176,999.92無形資產(chǎn)及其他資產(chǎn)合計

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

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應付票據(jù)

427,225,148.87210,929,118.844,428,019.25應付賬款

811,574,016.51756,276,494.11422,217,065.43預收賬款

47,438,746.8736,372,103.0331,455,284.27應付工資

12,398,406.0710,480,076.354,939,822.42應付福利費

21,186,764.9019,494,762.0813,140,268.24應付股利

13,157,143.4823,788,171.81應交稅金

18,093,204.5339,433,166.7230,782,879.64其他應交款

2,237,689.701,040,559.12222,459.90其他應付款

62,390,614.7759,075,417.4376,039,738.67預提費用

17,711,285.262,649,422.922,448,560.07其他流動負債

400,000,000.00流動負債合計

3,783,144,017.242,463,379,792.411,521,171,571.40長期借款

1,310,000,000.001,015,000,000.00115,000,000.00專項應付款

590,000.0019,523,600.0015,473,600.00其他長期負債

180,000.00180,000.00180,000.00長期負債合計

1,310,590,000.001,034,703,600.00130,653,600.00負債合計

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

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

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股東權益合計

2,675,417,427.702,386,621,937.352,113,064,445.61負債及股東權益合計

7,915,077,972.516,020,418,269.623,921,847,730.07利潤表200620052004一、主營業(yè)務收入

3,739,619,064.922,835,175,794.922,626,297,779.67減：主營業(yè)務成本

2,942,162,097.412,108,736,690.651,986,419,528.09主營業(yè)務稅金及附加

15,397,326.5012,402,516.998,843,046.93二、主營業(yè)務利潤

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

96,160,979.3425,277,664.024,326,102.26減:營業(yè)費用

145,530,033.71106,242,666.44115,155,905.60管理費用

156,512,428.81136,693,894.9872,648,445.24財務費用

125,984,606.5269,264,974.2146,578,281.75三、營業(yè)利潤

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)補貼收入

1,185,316.90664,050.772,064,969.20營業(yè)外收入

2,996,620.164,993,016.102,557,076.57減：營業(yè)外支出

2,968,887.231,635,843.623,230,246.04四、利潤總額

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：未確認投資損失(合并報表填列)0.000.000.00五、凈利潤

398,781,355.51332,428,711.30270,978,267.16從頓資至產(chǎn)菊負晨債割表領中絞可眼以珠看期出延華狡泰嫩短唉借錄長嫂投要,兩資她本血結臨構遮不海合件理罩,蹄風且險魚高爸.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0救萬魔噸兇高株級鏡彩耕印得新酒聞楚紙煉項請目息投任產(chǎn)棗轉鼻資首1謠8恥.座4壩5遺億共元誦，即楊煌木押化極機條械坊漿柔項今目瞞轉慈資奶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構元駁，敏比膝上遙年梁同歪期乖增科加蒸4伸9簡.刑5狀4懼%賭，續(xù)主傷要說原歸因螞系跑公外司距4譜0勻萬賺噸亮高野級辰彩趨印械新晌聞傻紙制項謊目母的網(wǎng)進曉口蜜設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泛萬蘇歐璃元爆所據(jù)致乘.長計期初借振款澆為負1鄉(xiāng)豐,礦3烏1對0摔,先0窗0買0掩,雨0壟0級0李.謹0幫0敗元將，桌比純上菠年譜同調期倘增蜓加張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路萬侍噸膠高種級題彩膀印拋新放聞裂紙雄項覺目救新住增溉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評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取筐加倉速廣折爐舊摧資極產(chǎn)憤增疲加夫所細致家。財良務饒費球用帆為簽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，頭主糧要沒原素因確系無本差期指1南8趣.麗7濁萬那噸從輕鋼膠桃紙趕項霸目廳投傷產(chǎn)尊后也，快用續(xù)于斥該糖項末目裕的虹貸痛款鬼本伯期景不演再筑資亭本艷化槐；逝同付時列本宜期舒公床司捷發(fā)類行鏟的念8田億粘元抵融僻資紛券身發(fā)撿生失財鉆務送費星用鋒2蝴5理0顏0艙余拼萬鏡元毫所釘致盈帶利煌能捷力調分梁析魚指溫標貫(囑一屯)200620052004毛利率21.32%25.62%24.36%主營業(yè)務利潤率9.47%14.17%15.10%銷售凈利潤率10.66%11.73%10.32%總資產(chǎn)報酬率8.30%10.21%11.51%資產(chǎn)凈利潤率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映杜企梳業(yè)遙生糕產(chǎn)改經(jīng)非營殘商揮品峰市效場擋競糕爭件力爬的踢高侮低歇，窄一辣般高來敞說毒，免技祥術猛含編量碗高拜、賽質蒙量敢好淡、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。主愉營園業(yè)財務末利躍潤犯率搭反同映再每趴百喪元謊主跳營怠業(yè)討務商收衛(wèi)入軋所傻獲圍得肅利日潤茅數(shù)勝。怒華呢泰踢的嶺主壯營抓業(yè)章務沈利貸潤池率永逐底年觸減債小夾，魄說灘明碧該覆企危業(yè)彎的夢銷卵售缺獲繪利季能楚力僻在竭逐鞠漸重減鎖弱璃。銷熟售戚凈梁利蠢潤吸率劫反梳映究每帆實朵現(xiàn)割1趕0稿0豬元炸主降營盆業(yè)宅務槽收冶入躲帶漸來迫的感凈躍利洋潤盜，底該研企煉業(yè)魔主煤營握業(yè)瘋收輕入替逐探年桂增尸加拿，就但各是蜂并鋪沒賠有寶帶黑來馬銷卻售塊凈密利喚潤遞的矮提懇高殼，抱這鑼要牢求敵華卸泰改在善擴候大旬銷賽售暑的拴同徹時綿，商應蠟注壯意幸改故進第經(jīng)酬營鹽管幻玉理補，貓?zhí)崦舾咧加嚼麚灼椒??？傌傎Y撐產(chǎn)述報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)摘的獨總烏資閘產(chǎn)肚報扔酬啊率胖逐圓年蒙降泄低拍，糖說影明賀其率資套產(chǎn)羅管璃理恭的屢效準益延越保來擦越科差朋，鞭企蛋業(yè)格的圖管縣理但水祖平累越堆來歷越膠低菌。凈殲資帥產(chǎn)黎收廉益利率酒是約評芒價進所淋有王者棚投支入答資室本還獲混取謀報音酬滴水覽平耍最傻具嫂綜糾合戴性榜和桶代買表上性稅的屆指困標辦，導反秀映蝕企擁業(yè)宴資約本智運字營委的部綜盤合傾效急益識。朵該江指打標池逐歡年們升錦高裁，宅說召明葡企龜業(yè)癢權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擔，壓運棄營樂效郵益亞越促好哄，射對逆企飛業(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)營活動產(chǎn)生現(xiàn)金流量凈額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)房誠逐徒年粒下刑降杏，殃說往明品公把司脅的社每獎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。濁抵已御顏外郊來純因眉素導影慣響摧和腿打針擊對能汪力寬降晴低迅，疑相布應桿可暴能慚會億帶隆來繁股掩價交下形跌嫩。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，鴨說疲明儉公撥司趟的庫盈懇利拌能養(yǎng)力兵已磨逐犁漸西變歐弱崗，艘公趟司美的牽經(jīng)芹營崇和扣財拘務傾狀扣況惜也抵明漁顯擔下饒降棕。每計股閥收凱益點下掩降侄而版每悶股魂經(jīng)譜營謹現(xiàn)絨金伴流知量務凈擁額師持剝續(xù)摘較造高酬，羊說您明臟利診潤斤的絕現(xiàn)劃金死保渠障緣瑞程頌度磨較盤強償。但券實何際對上憂,刪每趟股攪收朱益修、狂每柳股躲凈賤資往產(chǎn)強和廊調脂整虜后風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墊年濾度萄實午施只公燭積游金槳轉周增樂股仰本遺1饞0范股希轉豪增糾6布股只的政利晃潤花分蠻配忽方餓案脖導堡致怪的兇.償裁債堡能觀力期分溜析昌指孫標2006年2005年2004年流動比率0.490.590.77速動比率0.330.380.49現(xiàn)金比率0.170.20.25現(xiàn)金流動負債比率0.280.270.41資產(chǎn)負債率0.640.580.42產(chǎn)權比率1.91.470.78每股凈資產(chǎn)流動比率速動比率股東權益比率債務資產(chǎn)比率存貨周轉率應收賬款周轉率資產(chǎn)周轉率博匯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橫獻向伐分獨析從艱公寸司個的抬流姿動紐奉比肝率公來諸看京，舒這執(zhí)三奔年烈呈診下椅降深趨按勢看，貴從踢2肚0爺0鐵4獅年皂的籍0開.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。吩同晚時汪我效們慕看串到洪公浴司胸的陰速趁動搞比挽率念也炊在璃逐羊年栽降顯低匆。插作達為掠一賊個黨制記造摟企碑業(yè)董，港其池速仿動莖比鴨率裙只疏有軋0轉.耳3雁3座，捆這每應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)權金摩流減動點負編債回比都率嚼，配這它兩納個貿指舊標豈也葉都虛說勤明嗚了督同球一太個經(jīng)問轉題司，凱，腦企芝業(yè)斃的叢即醒刻濟變共現(xiàn)計能泰力富欠拍佳剃，裝而乖且營每里年夕都證在皮下邀降支。同休時如，海資姻產(chǎn)脹負種債搭比哀率嘴和嬌產(chǎn)賠權隸比懇率飼卻毛在借逐仰年以上妥升綱，癢說盆明各企碧業(yè)砍的蘿資枕本插結憂構辛不么夠冶合挪理蟲，漿負扭債縣在烈逐青年憐增瞎長逢,梯應累該忌改兵善鑒公炒司洪的踐資鐵本果結院構城。縱鋸向照分墳析公俱司暗2扔0朽0致6飾年梯的銷流靈動尊比蜘率星是災0送.功4餓9丹，牙相愿對巡壽于蟲同槳行釣業(yè)倒的清0片.弄8課8燃來序說激，攏這寨個督流犯動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嫂比缺率測0隸.艱3跡3家比撈同算行芹業(yè)壁的遼0委.未6悅2棗也皮相贈差耀比殊較拾大搶,免隨清時縣可加變長現(xiàn)送的鳥資祝產(chǎn)狹遠那遠扶不困能胡償些付霧到逃期喝債遷務臉,腸說慌明奧資抓本瘋結筆構某很硬不介合墊理拒，少應極該撿立逢刻或改殖善產(chǎn)公擔司品的達資省本斧結笛構殖。營流運閣能疏力煙分六析蕩指向標2004年2005年2006年總資產(chǎn)周轉率0.72次0.57次0.54次凈資產(chǎn)周轉率0.65次0.63次0.74次存貨周轉率4.79次4.49次5.39次應收帳款周轉率8.98次9.44次10.02次從唇上嗓述塘營遮運肆能終力本指皺標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)濃周蓮轉頁率眾在午逐讓年跟下打降菌，絨而礎2綱0盾0歡6畜年堂的遇凈配資顫產(chǎn)投周壁轉焦率搬比汪前限兩檔年榴上慌升詳了勒十身個蟲百辟分穗點待。同餅時呢2滴0故0麥6土年葛的幣存嶄貨疑周義轉鉗率竭也登比撲前慨兩笑年搶增您加向。夕說祖明邊企紹業(yè)范的鋼銷個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狠了軌。這問三供年織的洗應啦收尤帳阻款勺周宜轉彩率眼也嚼在葡逐裙年駐上介升崇，愈說前明脂企娛業(yè)進應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，駕但另同劇時肯也樓應轉該惑注旬意贈企排業(yè)倍是伯否蜻對靠賒骨銷泥期板限背或器付準款蜓期貧限帶控俘制惠得疏過您緊蘆。公撈司秩存味在舅的辦問林題（資1奇）外公游司潛主狠導穗產(chǎn)甚品型新脈聞睡紙事和想文錯化改紙余的潑主驅要膨原沖料假為穩(wěn)再錘生杯廢測紙隊、國木后漿挽等河。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射影脾響目，袖價絲式格說波茶動刊幅承度胡較恩大鵲，掠可甜能研對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，略進照而銳影間響妖公隊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和淹木摔漿掉主撓要聾從蹲國歷外禽進拜口器，燥具鉆有摟一尼定年的離依勾賴跌度窗；速若俘主寬要派供臺應斧商靜生岡產(chǎn)旺或租銷刷售殃政蕉策燈發(fā)養(yǎng)生其變閱化煎，勞則饑公柴司轎的投生項產(chǎn)類經(jīng)可營愚將全受斧到麥一鮮定崗影洞響臂。（怕3海）狗公乘司東主飲導編產(chǎn)蹦品衛(wèi)高尺檔闊新為聞薦紙香面添臨半的攻競碼爭欄激采烈腥而鎖復值雜徹。撥近飾年胃來貴，撓國撤內啟新獎聞刊紙枯生期產(chǎn)握規(guī)趙?？鋽U緞大刑，么產(chǎn)金品膽檔倆次抓與私質甲量仁均朱有昨較酬大答提慢升乓。賢雖賊然牛從樸長汪期排看踐，貨我院國去新綿聞責紙翼市警場笛潛潛力家巨田大種，雨但供短狠期局內執(zhí)由勿于厲產(chǎn)環(huán)能掛增攔加膝等兄因蟻素哲，福市頭場朵競旋爭現(xiàn)更登趨兆激拐烈準。改可進讓建詳議詞(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停目慘，滴根餐據(jù)和行廉業(yè)差的伴發(fā)奶展短趨物勢愚和暢現(xiàn)顯狀疲，狼建艦設核自怖己殃的里原旅料抬林硬基探地鋸和企漿飼廠征，崖以腎保薦證冠原跑料題供火應道，奇實匹現(xiàn)者頭介尾湖相奏接說的唇產(chǎn)致業(yè)伏鏈組。（異2蛋）糟適稀應榨規(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，普逐明步術體充現(xiàn)賭規(guī)娘模愚優(yōu)及勢繳。（瀉3練）紫根布據(jù)菊市鐮場撐的除變忌化槐，秧采肥取區(qū)更黎為舊靈抽活比的阻營竿銷先策垮略寺，臨以喂市取場蛙為業(yè)導脆向畜，嬌不汁斷句開泰發(fā)錫新努產(chǎn)稈品煌。（陜4賞）序根乒據(jù)林市犧場子需勞求鉤，陜全衛(wèi)面泊考疊慮邪產(chǎn)寒品柿的垂市瞇場遮定精位草、田市蒸場尖分款布腰和暑銷亮售婆方特式貍，魂兼設顧休私拐營務經(jīng)癥濟向、逝個成體液經(jīng)宏濟析、您社效會改單獄位廣、猜印宵刷蘭物老資很公焰司膚和奮出饅版邁社狐，挺鞏筒固儉和罵擴跟大敞內向銷折市慣場集，獸同懲時紅充厭分遇利論用傷公淘司劣的侵設殘備命優(yōu)森勢逼、丘成勉本狡優(yōu)軟勢呼和搜技贈術殺優(yōu)俘勢摟積而極擁參員與智國柏際穩(wěn)市胃場嘆競蛋爭迅，瞧不慨斷煤提燥升啦公剖司芽產(chǎn)緊品雄的座美蜘譽幻玉度瓦和嶄用京戶季忠灶誠筋度搖，糖進遍一熱步抵提參高嚷產(chǎn)界品蜜的齒市完場攻占太有金率臭。改圖進蘋建外議隔(礦二梁)公桑司鍋所后處倉行伐業(yè)外