1、安徽海螺水泥有有限公司2011年前三季度度財務分析報報告財務分析又稱財財務表報分析析，簡單的來來講財務分析析就是以財務務報表和其他他資料為依據據，系統的來來分析公司的的財務狀況、經經營成果和現現金流量的過過程。它是通通評價過去的的經營業績和和衡量現在財財務狀況從而而推測出未來來成長方向的的一個行之有有效的辦法。這這篇對海螺水水泥的財務分分析報告是從從投資者的角角度，通過對對公司的營運運能力、償債債能力、盈利利能力、現金金流量情況等等方面作出分分析，得出投投資者所需的的一些信息。海螺公司的基本本情況：安徽海螺水泥股股份有限公司司成立于1997年9月1日，是中國最大大的水泥生產產商和供應商商，現有

2、水泥泥和商品熟料料的總產能已已達1660萬噸，擁有27家子公司和1家參股公司司，其中六大大熟料生產基基地分別位于于安徽省寧國國、蕪湖、銅銅陵、池州、樅樅陽等地，于199年10月21日在香港聯聯合交易所掛掛牌上市（股股票代碼0914），公司總總股本為98,3448萬股，其中中國有股為62,2448萬股，H股流通股為36,1000萬股。公司司憑借自身資資源、能源、區區位優勢并結結合技術、人人才、管理優優勢，在中國國建材行業有有很高的知名名度和可觀的的市場份額，生生產能力在亞亞洲居第三位位，世界居第第十二位。主要財務報表資產負債表會計年度2011-099-302011-066-302011-033-

3、15貨幣資金6,803,6674,9886.008,063,1111,7666.003,070,0029,0660.00交易性金融資產產49,654,845.000113,5988,548.004,152,1155.000應收票據9,103,0077,1222.007,297,4447,0775.005,512,7789,9884.00應收賬款425,3866,066.00475,7366,886.00441,0100,116.00預付款項624,2366,416.00609,3966,596.00515,1522,808.00其他應收款4,898,4452,3444.004,373,5548

4、,2889.00440,1766,970.00應收關聯公司款款-應收利息32,401,199.0007,770,7719.000-應收股利-存貨4,065,8865,8339.003,819,4456,8990.003,768,7703,2227.00其中：消耗性生生物資產-一年內到期的非非流動資產-其他流動資產591,3700,634.00684,0722,017.00605,6711,669.00流動資產合計26,594,119,4451.00025,444,138,7786.00014,357,685,9989.000可供出售金融資資產2,966,8841,7668.004,286,11

5、74,7002.004,742,9925,3550.00持有至到期投資資-長期應收款-長期股權投資292,5133,977.00283,5822,029.001,042,0010,1330.00投資性房地產-固定資產38,862,589,2214.00036,690,928,4462.00034,150,267,4437.000在建工程4,658,4473,1883.004,523,3395,9996.003,361,5520,4443.00工程物資2,315,7781,6997.002,791,8865,6771.002,938,0067,0881.00固定資產清理-生產性生物資產產-油氣資

6、產-無形資產3,388,8802,3118.003,220,6656,5118.002,788,0069,4333.00開發支出-商譽76,157,940.00039,344,971.00016,119,621.000長期待攤費用-遞延所得稅資產產124,2099,652.00114,1022,384.00111,4466,159.00其他非流動資產產209,5999,309.0096,533,966.000110,2166,199.00非流動資產合計計52,894,969,0058.00052,046,584,6699.00049,260,641,8853.000資產總計79,489,088

7、,5509.00077,490,723,4485.00063,618,327,8842.000短期借款982,9000,000.001,665,0000,0000.002,447,4449,8773.00交易性金融負債債-應付票據40,000,000.00010,000,000.000-應付賬款4,535,2254,7335.004,380,3380,0558.003,787,2268,1778.00預收款項1,205,5591,5779.00844,9200,854.00728,7155,723.00應付職工薪酬53,372,726.00041,008,050.00029,055,790.0

8、00應交稅費1,711,3384,9660.001,402,4466,9009.001,124,4407,7882.00應付利息343,8822,985.00211,4988,033.0087,278,434.000應付股利-其他應付款4,061,1126,4887.003,859,0066,9441.003,310,6674,7119.00應付關聯公司款款-一年內到期的非非流動負債2,039,4410,5332.002,239,5543,8663.001,672,4403,8665.00其他流動負債-流動負債合計14,972,924,0004.00014,653,884,7708.00013

9、,187,254,3364.000長期借款10,500,886,3365.00010,576,113,6637.00010,823,909,0092.000應付債券9,464,0072,8448.009,462,5505,9888.00-長期應付款171,3577,997.00175,2944,951.00174,2355,265.00專項應付款-預計負債-遞延所得稅負債債373,0411,083.00708,3277,525.00770,6544,571.00其他非流動負債債30,648,662.00031,067,909.00031,614,532.000非流動負債合計計20,540,00

10、6,9955.00020,953,310,0010.00011,800,413,4460.000負債合計35,512,930,9959.00035,607,194,7718.00024,987,667,8824.000實收資本（或股股本）5,299,3302,5779.005,299,3302,5779.003,532,8868,3886.00資本公積11,536,341,1178.00012,623,182,2293.00014,730,299,4472.000盈余公積1,141,8881,3669.001,141,8881,3669.001,141,8881,3669.00減：庫存股-未分

11、配利潤24,334,768,1154.00021,273,608,9928.00018,555,499,2200.000少數股東權益1,663,8864,2770.001,545,5553,5998.00670,1111,591.00外幣報表折算價價差-非正常經營項目目收益調整-歸屬母公司所有有者權益（或或股東權益）42,312,293,2280.00040,337,975,1169.00037,960,548,4427.000所有者權益（或或股東權益）合合計43,976,157,5550.00041,883,528,7767.00038,630,660,0018.000負債和所有者（或或股東

12、權益）合合計79,489,088,5509.00077,490,723,4485.00063,618,327,8842.0002.利潤表會計年度2011-099-302011-066-302011-033-15一、營業收入34,974,813,9908.00022,327,264,5574.0009,314,5519,6770.00減：營業成本20,438,110,9944.00012,844,766,1161.0005,610,2280,0222.00營業稅金及附加加193,7088,694.00122,8699,661.0044,289,815.000銷售費用1,248,8828,3665

13、.00800,6144,875.00358,7799,760.00管理費用1,125,6685,3660.00702,2299,165.00344,6166,528.00勘探費用-財務費用434,5977,538.00282,1399,983.00131,2188,608.00資產減值損失-27,9766.00-27,9766.00-20,0000.00加：公允價值變變動凈收益-7,078,869.0006,850,3353.0002,399,1155.000投資收益124,2599,521.0087,728,979.0005,137,0055.000其中：對聯營企企業和合營企企業的投資收收益

14、22,598,047.00020,434,014.0005,137,0055.000影響營業利潤的的其他科目-二、營業利潤11,651,091,6635.0007,669,2252,0337.002,832,8891,1447.00加：補貼收入-營業外收入526,7899,360.00382,2922,235.00178,8666,452.00減：營業外支出出1,862,5558.0001,712,8815.000512,5999.00其中：非流動資資產處置凈損損失932,7377.00916,2911.00327,6277.00加：影響利潤總總額的其他科科目-三、利潤總額12,176,018

15、,4437.0008,049,8831,4557.003,011,2245,0000.00減：所得稅2,930,1189,2778.001,951,4475,4440.00753,5944,704.00加：影響凈利潤潤的其他科目目-四、凈利潤9,245,8829,1559.006,098,3356,0117.002,257,6650,2996.00歸屬于母公司所所有者的凈利利潤9,055,2209,1331.005,994,0049,9005.002,216,0079,6661.00少數股東損益190,6200,028.00104,3066,112.0041,570,635.000五、每股收益

16、-（一）基本每股股收益1.711.130.63（二）稀釋每股股收益1.711.130.63現金流量表報告年度2011-099-302011-066-302011-033-15一、經營活動產產生的現金流流量銷售商品、提供供勞務收到的的現金41,548,800,6617.00027,139,391,8860.00011,587,026,7776.000收到的稅費返還還97,945,504.00061,803,609.00032,978,459.000收到其他與經營營活動有關的的現金410,1777,843.00325,5211,161.00145,6955,713.00經營活動現金流流入小計42,

17、056,923,9964.00027,526,716,6630.00011,765,700,9948.000購買商品、接受受勞務支付的的現金26,292,646,5510.00017,347,162,4499.0007,927,9917,9338.00支付給職工以及及為職工支付付的現金1,718,1131,6776.001,169,1162,8334.00667,6822,423.00支付的各項稅費費5,587,0066,4221.003,416,2285,2441.001,320,3348,7007.00支付其他與經營營活動有關的的現金654,1499,198.00419,0744,215.

18、00101,2099,993.00經營活動現金流流出小計34,251,993,8805.00022,351,684,7789.00010,017,159,0061.000經營活動產生的的現金流量凈凈額7,804,9930,1559.005,175,0031,8441.001,748,5541,8887.00二、投資活動產產生的現金流流量收回投資收到的的現金1,061,8822,6222.00800,0000,000.00-取得投資收益收收到的現金-處置固定資產、無無形資產和其其他長期資產產收回的現金金凈額2,504,3337.0001,639,9906.0001,450,8812.000處置子

19、公司及其其他營業單位位收到的現金金凈額363,3566,423.00363,3566,423.00-收到其他與投資資活動有關的的現金139,8033,468.0062,307,579.00022,434,466.000投資活動現金流流入小計1,567,4486,8550.001,227,3303,9008.0023,885,278.000購建固定資產、無無形資產和其其他長期資產產支付的現金金6,279,8800,9666.004,017,2281,3555.002,042,5575,0669.00投資支付的現金金5,313,4497,0446.004,909,8899,7995.00-取得子公

20、司及其其他營業單位位支付的現金金凈額157,4877,734.0019,134,000.000-支付其他與投資資活動有關的的現金110,0000,000.00-投資活動現金流流出小計11,860,785,7746.0008,946,3315,1550.002,042,5575,0669.00投資活動產生的的現金流量凈凈額-10,2933,298,896.000-7,719,011,2242.000-2,018,689,7791.000三、籌資活動產產生的現金流流量吸收投資收到的的現金-取得借款收到的的現金3,145,0000,0000.003,145,0000,0000.001,187,444

21、9,8773.00收到其他與籌資資活動有關的的現金16,932,344.000-6,631,9925.000籌資活動現金流流入小計12,625,067,0046.00012,608,134,7702.0001,194,0081,7998.00償還債務支付的的現金4,821,5522,7227.003,574,0022,7228.00465,5000,000.00分配股利、利潤潤或償付利息息支付的現金金1,480,4442,5771.001,320,2208,7225.00115,2900,000.00支付其他與籌資資活動有關的的現金15,619,197.00016,761,633.0009,4

22、74,0026.000籌資活動現金流流出小計6,317,5584,4995.004,910,9993,0886.00590,2644,026.00籌資活動產生的的現金流量凈凈額6,307,4482,5551.007,697,1141,6116.00603,8177,772.00四、匯率變動對對現金的影響響四(2)、其他他原因對現金金的影響五、現金及現金金等價物凈增增加額期初現金及現金金等價物余額額2,689,1148,5669.002,689,1148,5669.002,689,1148,5669.00期末現金及現金金等價物余額額6,508,2262,3883.007,842,3310,7884.003,022,8818,4337.00附注：1、將凈凈利潤調節為為經營活動現現金流量凈利潤-6,098,3356,0117.00-加：資產減值準準備-27,9766.00-固定資產折舊、油油氣資產折耗耗、生產性生生物資產折舊舊-1,182,5523,5999