华泰公司财务

华泰公司财务分析会计0401班小组成员：陈蓉芸周伟娜陈钰金赏叶晓明夏青

一.公司基本情况

二.报表分析

三.盈利能力分析

四.偿债能力分析

五.营运能力分析

六.公司存在的问题

七.对公司的改进建议公司基本情况简介

公司法定中文名称：山东华泰纸业股份有限公司公司法定中文名称缩写：华泰股份公司法定代表人：李建华公司a股上市交易所：上海证券交易所公司a股简称：华泰股份公司a股代码：600308公亦司穗归惨属帅于行造卫纸忍行缸业春，籍经谣营焦范属围充包说括冬：抄造羽纸发；赌纸方制籍品晕及盼纸衬料枝加棒工齐；教热面电芦；院化持工壮产伸品芦（盗不誓含券化山学传危倦险舍品根）餐及煮机藏械款制梢造瞎、竞销迅售探；脉纸拆浆衣的肥生冶产宽、粪销更售臣；帽本薯企喜业良自爸产恳产弊品拍及岩相改关蛙技必术烧的织进倒出己口保业阅务到。也公咬司象主御导内产概品貌为填中申高割档栋新告闻载纸援、区双傅胶泻纸筋和域书备写现纸裙，的主毙业矿比京较晋鲜蓝明微。绘公侄司森现卫拥哪有均年粉产北1则2鹿0姓万茫吨傅新窝闻虽纸塞的月生村产杯能射力称，技市妇场筋占告有冈率旨约必为匠3品0站％汪，丙是躺目疫前临国弱内还最失大架的命新兽闻作纸叮生乱产漫企修业寸.2006-12-312005-12-312004-12-31货币资金

632,627,326.00485,923,989.96376,378,231.09应收票据

176,931,561.0068,412,669.6053,752,754.64应收账款

411,693,604.00334,602,477.79265,929,324.64其他应收款

4,919,943.006,129,380.497,135,599.26预付账款

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

578,941,840.00513,001,518.37425,868,351.41待摊费用

219,999.00723,337.37471,570.83流动资产合计

1,840,897,823.001,447,758,900.181,170,126,644.27长期股权投资

85,663,315.005,374,141.164,812,524.38长期投资合计

85,663,315.005,374,141.164,812,524.38固定资产原价

7,154,495,391.004,982,162,803.962,815,980,281.72减：累计折旧

1,200,538,464.00815,660,522.83638,323,166.90固定资产净值

5,953,956,926.004,166,502,281.132,177,657,114.82减：固定资产减值准备

1,382,900.001,382,900.261,643,815.01固定资产净额

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固定资产合计

5,988,453,333.004,567,122,728.442,746,126,047.31无形资产

63,499.00162,499.84176,999.92无形资产及其他资产合计

63,499.00162,499.84782,514.11资产总计

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应付票据

427,225,148.87210,929,118.844,428,019.25应付账款

811,574,016.51756,276,494.11422,217,065.43预收账款

47,438,746.8736,372,103.0331,455,284.27应付工资

12,398,406.0710,480,076.354,939,822.42应付福利费

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

13,157,143.4823,788,171.81应交税金

18,093,204.5339,433,166.7230,782,879.64其他应交款

2,237,689.701,040,559.12222,459.90其他应付款

62,390,614.7759,075,417.4376,039,738.67预提费用

17,711,285.262,649,422.922,448,560.07其他流动负债

400,000,000.00流动负债合计

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

1,310,000,000.001,015,000,000.00115,000,000.00专项应付款

590,000.0019,523,600.0015,473,600.00其他长期负债

180,000.00180,000.00180,000.00长期负债合计

1,310,590,000.001,034,703,600.00130,653,600.00负债合计

5,093,734,017.243,498,083,392.411,651,825,171.40少数股东权益

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

480,413,378.00300,258,361.00300,258,361.00股本净额

480,413,378.00300,258,361.00300,258,361.00资本公积

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

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未分配利润

872,631,001.19654,424,368.59495,691,072.05现金股利

120,103,344.50126,417,143.7783,839,844.01股东权益合计

2,675,417,427.702,386,621,937.352,113,064,445.61负债及股东权益合计

7,915,077,972.516,020,418,269.623,921,847,730.07利润表200620052004一、主营业务收入

3,739,619,064.922,835,175,794.922,626,297,779.67减：主营业务成本

2,942,162,097.412,108,736,690.651,986,419,528.09主营业务税金及附加

15,397,326.5012,402,516.998,843,046.93二、主营业务利润

782,059,641.01714,036,587.28631,035,204.65加：其他业务利润

96,160,979.3425,277,664.024,326,102.26减:营业费用

145,530,033.71106,242,666.44115,155,905.60管理费用

156,512,428.81136,693,894.9872,648,445.24财务费用

125,984,606.5269,264,974.2146,578,281.75三、营业利润

450,193,551.31427,112,715.67400,978,674.32加：投资收益

727,959.667,067,144.21(28,682,563.74)补贴收入

1,185,316.90664,050.772,064,969.20营业外收入

2,996,620.164,993,016.102,557,076.57减：营业外支出

2,968,887.231,635,843.623,230,246.04四、利润总额

452,134,560.80438,201,083.13373,687,910.31减：所得税

29,987,565.4469,891,551.5668,181,930.54减：少数股东损益

23,365,639.8535,880,820.2734,527,712.61加：未确认投资损失(合并报表填列)0.000.000.00五、净利润

398,781,355.51332,428,711.30270,978,267.16从顿资至产菊负晨债割表领中绞可眼以珠看期出延华狡泰嫩短唉借录长嫂投要,两资她本血结临构遮不海合件理罩,蹄风且险鱼高爸.固桥定尊资积产恢增秒加椅主较要朋原司因姜系融本果期膊4费0救万魔吨凶高株级镜彩耕印得新酒闻楚纸炼项请目息投任产枣转鼻资首1谣8耻.座4坝5遗亿共元诵，即杨煌木押化极机条械坊浆柔项今目瞒转慈资奶2厦.洋0葛5间亿弱元牺所蚊致馒。短打期湖借母款怎为萌1讨,锣9衬4穗9垃,浴7德3果0衰,赏9始9湖6是.客2据8构元驳，敏比膝上遥年梁同歪期乖增科加蒸4伸9简.刑5状4惧%赌，续主伤要说原归因蚂系跑公外司距4谱0匀万赚吨亮高野级辰彩趋印械新晌闻傻纸制项谎目母的网进晓口蜜设畜备弯公嗽司芝主正要趁以疏海且外辞代糠付袜款陷支蜻付鸦，抚本津期扯海及外云代寒付番借熊款宾7何5甩5泰4泛万苏欧璃元爆所据致乘.长计期初借振款浇为负1乡丰,矿3乌1对0摔,先0窗0买0掩,雨0垄0级0李.谨0帮0败元将，桌比纯上菠年谱同调期倘增蜓加张2敏9嚼.饺0朴6扒%缓，傍主欣要铺原弓因制系辛本霉期肌4灿0路万侍吨胶高种级题彩膀印抛新放闻裂纸雄项觉目救新住增溉3杆亿些元衔的吹固等定阴资伟产若贷北款债所牲致迷.从迹利酷润贤表乏可翁以救看冻出损华蜜泰柔的蜡所诸得砖税傲随赛利这润评的浪增骄加傅反厕而谋减金少沉.哄所瞧得齐税赢为面2啊9民,扁9相8烘7揭,膊5暗6斧5孟.假4次4抵，拦比偶上立年威同题期巷减堪少等5蛇7醒.霞0巧9衡%绳，举主巧要都原凉因姿系泛本出期卧公某司舍采运取筐加仓速广折炉旧摧资极产愤增疲加夫所细致家。财良务饶费球用帆为签1牲2泼5喝,偶9牵8轿4抖,斩6蔑0性6编.练5贩2司元悄，墓比状上却年榴同丑期福增始加捞8幸1腰.僵8析9届%油，头主粮要没原素因确系无本差期指1南8趣.丽7浊万那吨从轻钢胶桃纸赶项霸目厅投伤产尊后也，快用续于斥该糖项末目裕的虹贷痛款鬼本伯期景不演再筑资亭本艳化槐；逝同付时列本宜期舒公床司捷发类行铲的念8田亿粘元抵融僻资纷券身发捡生失财钻务送费星用锋2蝴5理0颜0舱余拼万镜元毫所钉致盈带利煌能捷力调分梁析鱼指温标贯(嘱一屯)200620052004毛利率21.32%25.62%24.36%主营业务利润率9.47%14.17%15.10%销售净利润率10.66%11.73%10.32%总资产报酬率8.30%10.21%11.51%资产净利润率5.72%6.69%5.76%净资产收益率14.91%13.93%12.82%毛塑利帝率顷的香高冬低迎可大以摸反门映杜企梳业遥生糕产改经非营残商挥品峰市效场挡竞糕争件力爬的踢高侮低歇，窄一辣般高来敞说毒，免技祥术猛含编量碗高拜、赛质蒙量敢好淡、末品呀牌耐产响品欧的意毛阿利膊率芝都剥比泻较赢高捐。主愉营园业财务末利跃润犯率搭反同映再每趴百丧元谎主跳营怠业讨务商收卫入轧所傻获围得肃利日润茅数胜。怒华呢泰踢的岭主壮营抓业章务沈利贷润池率永逐底年触减债小夹，魄说滩明碧该覆企危业弯的梦销卵售缺获绘利季能楚力僻在竭逐鞠渐重减锁弱璃。销熟售戚净梁利蠢润吸率劫反梳映究每帆实朵现割1赶0稿0猪元炸主降营盆业宅务槽收冶入躲带渐来迫的感净跃利洋润盗，底该研企炼业魔主煤营握业疯收轻入替逐探年桂增尸加拿，就但各是蜂并铺没赔有宝带黑来马销却售块净密利唤润递的矮提恳高壳，抱这锣要牢求敌华卸泰改在善扩候大旬销赛售暑的拴同彻时绵，商应蜡注壮意幸改故进第经酬营盐管幻玉理补，猫提敏高旨盈步利搂水底平吩。总狸资撑产述报岗酬焦率前反息映迅了且企牙业靠利蚊用克全埋部观经渠济纺资棍源橡的现盈此利睬能凯力融，勺该给企糕业摘的独总乌资闸产肚报扔酬啊率胖逐圆年蒙降泄低拍，糖说影明贺其率资套产罗管璃理恭的屡效准益延越保来擦越科差朋，鞭企蛋业格的图管县理但水祖平累越堆来历越胶低菌。净歼资帅产黎收廉益利率酒是约评芒价进所淋有王者棚投支入答资室本还获混取谋报音酬滴水览平耍最傻具嫂综纠合戴性榜和桶代买表上性税的届指困标办，导反秀映蚀企拥业宴资约本智运字营委的部综盘合倾效急益识。朵该江指打标池逐欢年们升锦高裁，宅说召明葡企龟业痒权盆益嗽资欢本鲜获监取举收膛益健的沃能船力孤越甩强担，压运弃营乐效邮益亚越促好哄，射对逆企飞业慢投爹资抖者优保庄证居程甘度单越突高备。盈衬利冠能同力迟分功析藏指鞭标笛(驾二放)

200620052004每股净资产5.577.957.04每股收益0.381.110.9每股经营活动产生现金流量净额2.182.192.08从脏理馒论馆上闷讲鹿,贞每雀股掘净岸资腐产房诚逐徒年粒下刑降杏，殃说往明品公把司胁的社每奖股兼拥布有钩的窃净扶资胶产栏下法降污，泡公概司寄发毒展忆潜伶力奏受萄到但一乡丰定胜阻爹碍东。浊抵已御颜外郊来纯因眉素导影惯响摧和腿打针击对能汪力宽降晴低迅，疑相布应杆可暴能惭会亿带隆来繁股掩价交下形跌嫩。逼公膝司和0厨6傻年捐每室股哑收换益稀较抱0嫌4坏.驼0便5颠年泉偏拥小提，鸭说疲明俭公拨司趟的库盈恳利拌能养力兵已磨逐犁渐西变欧弱岗，艘公趟司美的牵经芹营崇和扣财拘务倾状扣况惜也抵明渔显担下饶降棕。每计股阀收凯益点下掩降侄而版每闷股魂经谱营谨现绒金伴流知量务净拥额师持剥续摘较造高酬，羊说您明脏利诊润斤的绝现划金死保渠障缘瑞程颂度磨较盘强偿。但券实何际对上忧,删每趟股搅收朱益修、狂每柳股躲净贱资往产强和廊调脂整虏后风每攀股先净抽资傅产弯下击降垫主勇要尘原陕因球是塘公怖司脆于龟2凳0透0探6垫年滤度萄实午施只公烛积游金桨转周增乐股仰本遗1馋0范股希转豪增纠6布股只的政利晃润花分蛮配忽方饿案脖导堡致怪的凶.偿裁债堡能观力期分溜析昌指孙标2006年2005年2004年流动比率0.490.590.77速动比率0.330.380.49现金比率0.170.20.25现金流动负债比率0.280.270.41资产负债率0.640.580.42产权比率1.91.470.78每股净资产流动比率速动比率股东权益比率债务资产比率存货周转率应收账款周转率资产周转率博汇5.03981.03430.59430.41430.57264.41677.43630.8303晨鸣4.40091.02040.70330.29250.62294.74827.51310.6134恒丰5.27531.3320.95810.47160.51754.260175.08370.5005华泰5.5690.48660.33360.3880.64355.388910.02180.5367美利5.1740.78560.56530.17560.82122.15549.50380.2532山鹰2.81450.72770.59280.47840.51748.68658.70240.734银鸽1.92190.77940.56570.32160.6725.781717.37860.7384行业平均4.31370.88090.61620.36330.62395.06269.3720.6009横献向伐分独析从艰公寸司个的抬流姿动纽奉比肝率公来诸看京，舒这执三奔年烈呈诊下椅降深趋按势看，贵从踢2肚0爷0铁4狮年皂的籍0开.卧7金7宿到辟了鄙2税0漆0被6根年辨的辱0境.令4娇9忠，霞说仆明毛华兆泰芳公愁司海的搅短乒期践偿市债缩慧能伤力渣明券显堡下体降青。吩同晚时汪我效们慕看串到洪公浴司胸的阴速趁动搞比挽率念也炊在璃逐羊年栽降显低匆。插作达为掠一贼个党制记造搂企碑业董，港其池速仿动茎比鸭率裙只疏有轧0转.耳3雁3座，捆这每应查该千引尿起把公笛司客的吩注酒意焰。再浑看丈公苍司吧的械现座金筹比驰率青和梢现权金摩流减动点负编债回比都率嚼，配这它两纳个贸指旧标岂也叶都虚说勤明呜了督同球一太个经问转题司，凯，脑企芝业毙的丛即醒刻济变共现计能泰力富欠拍佳剃，装而乖且营每里年夕都证在皮下邀降支。同休时如，海资姻产胀负种债搭比哀率嘴和娇产赔权隶比恳率饲却毛在借逐仰年以上妥升纲，痒说盆明各企碧业砍的萝资枕本插结忧构辛不么够冶合挪理虫，浆负扭债县在烈逐青年怜增瞎长逢,梯应累该忌改兵善鉴公炒司洪的践资铁本果结院构城。纵锯向照分坟析公俱司暗2扔0朽0致6饰年梯的销流灵动尊比蜘率星是灾0送.功4饿9丹，牙相愿对巡寿于虫同桨行钓业倒的清0片.弄8课8燃来序说激，拢这寨个督流犯动退比醒率哈也头是梅不扭理冈想役的陆,嘱企炊业稳的杜短展期周偿游债替能分力妇欠脂佳擦。狡同甚样贫，勇公汤司巨的腔速叉动嫂比缺率测0隶.艰3迹3家比捞同算行芹业壁的辽0委.未6悦2枣也皮相赠差耀比殊较拾大抢,免随清时县可加变长现送的鸟资祝产狭远那远扶不困能胡偿些付雾到逃期喝债迁务脸,肠说慌明奥资抓本疯结笔构某很硬不介合垫理拒，少应极该捡立逢刻或改殖善产公担司品的达资省本斧结笛构殖。营流运阁能疏力烟分六析荡指向标2004年2005年2006年总资产周转率0.72次0.57次0.54次净资产周转率0.65次0.63次0.74次存货周转率4.79次4.49次5.39次应收帐款周转率8.98次9.44次10.02次从唇上嗓述塘营遮运肆能终力本指皱标纯的旷分崭析量中慢可穗以夏看歌出筹，次总减资区产浓周莲转页率众在午逐让年跟下打降菌，绒而础2纲0盾0欢6畜年堂的遇净配资颤产投周壁转焦率搬比汪前限两档年榴上慌升详了勒十身个虫百辟分穗点待。同饼时呢2滴0故0麦6土年葛的币存崭货疑周义转钳率竭也登比扑前慨两笑年抢增您加向。夕说祖明边企绍业范的钢销个售盐能截力欧和巴管伙理足存勒货肉的倒水熄平浮都妹增天强狠了轨。这问三供年织的洗应啦收尤帐阻款勺周宜转彩率眼也嚼在葡逐裙年驻上介升崇，愈说前明脂企娱业进应痕收脏帐岂款体的炸管亮理仿工梢作侮的聚效净率穴提庭高旧了是，驾但另同剧时肯也楼应转该惑注旬意赠企排业倍是伯否蜻对靠赊骨销泥期板限背或器付准款蜓期贫限带控俘制惠得疏过您紧芦。公捞司秩存味在舅的办问林题（资1奇）外公游司潜主狠导穗产甚品型新脉闻睡纸事和想文错化改纸余的泼主驱要膨原冲料假为稳再锤生杯废测纸队、国木后浆挽等河。泼大兰多排数胀原烈辅凶材糖料稼由晒于汇受知市挠场射影脾响目，袖价丝式格说波茶动刊幅承度胡较恩大鹊，掠可甜能研对维公妙司璃的休生释产睛成切本冬造揪成烫一虾定怀的私影沙响巷，略进照而锐影间响妖公队司私毛碍利寨率锅水甜平饺。（斤2算）泉公劝司响主漫要牲原典材捏料际再直生港废逃纸负和淹木摔浆掉主挠要聋从蹲国历外禽进拜口器，燥具钻有搂一尼定年的离依勾赖跌度窗；速若俘主宽要派供台应斧商静生冈产旺或租销刷售殃政蕉策灯发养生其变阅化煎，劳则饥公柴司轿的投生项产类经可营愚将全受斧到麦一鲜定岗影洞响臂。（怕3海）狗公乘司东主饮导编产蹦品卫高尺档阔新为闻荐纸香面添临半的攻竞码争栏激采烈腥而锁复值杂彻。拨近饰年胃来贵，挠国撤内启新奖闻刊纸枯生期产握规赵模夸扩缎大刑，么产金品胆档俩次抓与私质甲量仁均朱有昨较酬大答提慢升乓。贤虽贼然牛从朴长汪期排看践，货我院国去新绵闻责纸翼市警场笛潜潜力家巨田大种，雨但供短狠期局内执由勿于厉产环能挂增拦加膝等兄因蚁素哲，福市头场朵竞旋争现更登趋兆激拐烈准。改可进让建详议词(际一苏)（易1踢）省积饶极溜发铲展斤林核纸蕉一葱体奶化静项停目惨，滴根餐据和行廉业差的伴发奶展短趋物势愚和畅现显状疲，狼建舰设核自怖己殃的里原旅料抬林硬基探地锯和企浆饲厂征，崖以肾保荐证冠原跑料题供火应道，奇实匹现者头介尾湖相奏接说的唇产致业伏链组。（异2蛋）糟适稀应榨规涛模尝发溉展驼需承要效，蝴提寺高却新弓闻俗出狭版威印庄刷萝用首纸猴产亚量腔，普逐明步术体充现赌规娘模愚优及势缴。（泻3练）紫根布据菊市镰场撑的除变忌化槐，秧采肥取区更黎为旧灵抽活比的阻营竿销先策垮略寺，临以喂市取场蛙为业导脆向畜，娇不汁断句开泰发锡新努产秆品煌。（陕4赏）序根乒据林市牺场子需劳求钩，陕全卫面泊考叠虑邪产寒品柿的垂市眯场遮定精位草、田市蒸场尖分款布腰和暑销亮售婆方特式狸，魂兼设顾休私拐营务经症济向、逝个成体液经宏济析、您社效会改单狱位广、猜印宵刷兰物老资很公焰司肤和奋出馒版迈社狐，挺巩筒固俭和骂扩跟大敞内向销折市惯场集，兽同惩时红充厌分遇利论用伤公淘司劣的侵设残备命优森势逼、丘成勉本狡优软势呼和搜技赠术杀优俘势搂积而极拥参员与智国柏际稳市胃场叹竞蛋争迅，瞧不慨断煤提燥升啦公剖司芽产紧品雄的座美蜘誉幻玉度瓦和崭用京户季忠灶诚筋度摇，糖进遍一热步抵提参高嚷产界品蜜的齿市完场攻占太有金率臭。改图进苹建外议隔(矿二梁)公桑司锅所后处仓行伐业外