中商官网
研究报告
明阳电气（301291）
主要经济指标
| 类别\年份 | 营业收入 （元) |
营业收入同比 （%) |
营业利润 （元) |
营业利润同比 （%) |
利润总额 （元) |
利润总额同比 （%) |
净利润 （元) |
净利润同比 （%) |
| 2025-03-31 | 1306000000.0000 | 26.31 | 123000000.0000 | 24.38 | 123000000.0000 | 24.40 | 112000000.0000 | 24.72 |
| 2024-06-30 | 2473000000.0000 | 29.95 | 278000000.0000 | 53.59 | 277000000.0000 | 53.04 | 246000000.0000 | 51.85 |
| 2024-12-31 | 6444000000.0000 | 29.63 | 756000000.0000 | 35.00 | 756000000.0000 | 35.00 | 663000000.0000 | 33.13 |
| 2024-09-30 | 4090000000.0000 | 23.53 | 491000000.0000 | 37.92 | 491000000.0000 | 37.92 | 436000000.0000 | 37.54 |
| 2024-03-31 | 1034000000.0000 | 46.25 | 98891400.0000 | 104.00 | 98873100.0000 | 103.86 | 89803000.0000 | 104.30 |
| 2023-09-30 | 3311000000.0000 | 66.38 | 356000000.0000 | 88.36 | 356000000.0000 | 88.36 | 317000000.0000 | 87.57 |
| 2023-12-31 | 4971000000.0000 | 53.62 | 560000000.0000 | 91.13 | 560000000.0000 | 91.13 | 498000000.0000 | 87.92 |
| 2022-12-31 | 3236000000.0000 | 59.41 | 293000000.0000 | 62.78 | 293000000.0000 | 62.78 | 265000000.0000 | 64.60 |
| 2023-03-31 | 707000000.0000 | 84.11 | 48476900.0000 | 226.74 | 48499500.0000 | 230.30 | 43955600.0000 | 226.81 |
| 2023-06-30 | 1903000000.0000 | 65.05 | 181000000.0000 | 70.75 | 181000000.0000 | 70.75 | 162000000.0000 | 69.78 |
| 2022-06-30 | 1153000000.0000 | 69.56 | 106000000.0000 | 38.49 | 106000000.0000 | 38.45 | 95419500.0000 | 40.05 |
| 2022-03-31 | 384000000.0000 | -- | 14836400.0000 | -- | 14683300.0000 | -- | 13450000.0000 | -- |
| 2022-09-30 | 1990000000.0000 | -- | 189000000.0000 | -- | 189000000.0000 | -- | 169000000.0000 | -- |
| 2021-06-30 | 680000000.0000 | -- | 76541600.0000 | -- | 76559800.0000 | -- | 68130900.0000 | -- |
| 2021-12-31 | 2030000000.0000 | 21.92 | 180000000.0000 | -10.89 | 180000000.0000 | -11.33 | 161000000.0000 | -9.55 |
| 2020-12-31 | 1665000000.0000 | 331.35 | 202000000.0000 | -375.75 | 203000000.0000 | -377.71 | 178000000.0000 | -326.61 |
| 2019-12-31 | 386000000.0000 | 50.78 | -73256000.0000 | -422.80 | -73098600.0000 | -421.87 | -78548200.0000 | -494.69 |
| 2018-12-31 | 256000000.0000 | -- | 22694100.0000 | -- | 22710900.0000 | -- | 19901200.0000 | -- |
盈利能力分析
| 类别\年份 | 销售毛利率 （%) |
营业利润率 （%) |
总资产利润率 （%) |
净资产收益率 | 存货周转率 | 应收账款周转率 （次) |
总资产周转率 （次) |
| 2025-03 | 8.65 | 9.42 | 1.38 | 2.3700 | 0.8700 | 1.87 | 0.15 |
| 2024-06 | 10.63 | 11.20 | 3.52 | 5.6800 | 1.8600 | 2.24 | 0.31 |
| 2024-12 | 11.10 | 11.73 | 8.10 | 14.8600 | 4.8100 | 2.59 | 0.69 |
| 2024-09 | 11.37 | 12.00 | 5.76 | 9.9400 | 2.8100 | 2.35 | 0.48 |
| 2024-03 | 8.80 | 9.56 | 1.26 | 2.1100 | 0.8000 | 1.94 | 0.13 |
| 2023-09 | 10.51 | 10.75 | 4.60 | 15.5300 | 3.3500 | 2.66 | 0.43 |
| 2023-12 | 10.48 | 11.27 | 7.13 | 19.1200 | 4.8500 | 2.81 | 0.63 |
| 2022-12 | 8.78 | 9.05 | 7.72 | 31.6500 | 5.2800 | 2.89 | 0.85 |
| 2023-03 | 6.79 | 6.86 | 1.24 | 4.4600 | 0.8600 | 2.01 | 0.18 |
| 2023-06 | 9.20 | 9.51 | 2.51 | 15.4700 | 2.1000 | 2.54 | 0.26 |
| 2022-06 | 8.85 | 9.19 | 3.69 | 12.7200 | 2.3500 | 2.56 | 0.40 |
| 2022-03 | 3.65 | 3.82 | -- | 1.9000 | -- | -- | -- |
| 2022-09 | 9.10 | 9.50 | -- | -- | -- | -- | -- |
| 2021-06 | 11.18 | 11.26 | 3.43 | 11.8600 | 1.4000 | 2.01 | 0.30 |
| 2021-12 | 8.72 | 8.87 | 6.83 | 25.9600 | 4.7300 | 2.61 | 0.77 |
| 2020-12 | 11.89 | 12.19 | 11.62 | 46.1600 | 5.9400 | 3.53 | 0.95 |
| 2019-12 | -19.17 | -18.94 | -13.31 | 91.8300 | 3.6300 | 2.11 | 0.70 |
| 2018-12 | 8.20 | 8.87 | 9.38 | 36.2300 | 7.3600 | 2.11 | 1.06 |
偿债能力分析
| 类别\年份 | 资产负债率 （%) |
股东权益比率 （%) |
流动比率 | 速动比率 |
| 2025-03 | 46.35 | 53.66 | 1.7400 | 1.3000 |
| 2024-06 | 43.36 | 56.63 | 1.9700 | 1.6400 |
| 2024-12 | 49.97 | 50.03 | 1.6900 | 1.3300 |
| 2024-09 | 47.83 | 52.17 | 1.7700 | 1.3200 |
| 2024-03 | 45.09 | 54.91 | 1.9300 | 1.6300 |
| 2023-09 | 47.52 | 52.48 | 1.8700 | 1.5900 |
| 2023-12 | 46.30 | 53.70 | 1.9100 | 1.6100 |
| 2022-12 | 74.43 | 25.57 | 1.2100 | 0.9300 |
| 2023-03 | 74.13 | 25.87 | 1.2000 | 0.8600 |
| 2023-06 | 45.87 | 54.12 | 2.1000 | 1.7900 |
| 2022-06 | 72.22 | 27.81 | 1.2300 | 0.9500 |
| 2022-03 | -- | -- | -- | -- |
| 2022-09 | -- | -- | -- | -- |
| 2021-06 | 72.75 | 27.25 | 1.2200 | 0.8400 |
| 2021-12 | 73.38 | 26.62 | 1.2200 | 0.9500 |
| 2020-12 | 69.03 | 30.97 | 1.2900 | 1.0300 |
| 2019-12 | 78.87 | 21.13 | 1.2000 | 0.8800 |
| 2018-12 | 73.14 | 26.89 | 1.3700 | 1.1400 |
成本费用分析
| 类别\年份 | 营业成本 （元) |
销售费用 （元) |
管理费用 （元) |
财务费用 （元) |
| 2025-03 | 1193000000.0000 | 56417100.0000 | 36731700.0000 | -4235400.0000 |
| 2024-06 | 2210000000.0000 | 110000000.0000 | 61360700.0000 | 1078300.0000 |
| 2024-12 | 5729000000.0000 | 217000000.0000 | 132000000.0000 | 2129800.0000 |
| 2024-09 | 3625000000.0000 | 179000000.0000 | 93045800.0000 | -16406500.0000 |
| 2024-03 | 943000000.0000 | 60955000.0000 | 28674800.0000 | -7649400.0000 |
| 2023-09 | 2963000000.0000 | 128000000.0000 | 85024700.0000 | 1701300.0000 |
| 2023-12 | 4450000000.0000 | 181000000.0000 | 130000000.0000 | 12842600.0000 |
| 2022-12 | 2952000000.0000 | 116000000.0000 | 82943500.0000 | 20058800.0000 |
| 2023-03 | 659000000.0000 | 38623800.0000 | 21654800.0000 | 3545600.0000 |
| 2023-06 | 1728000000.0000 | 76543400.0000 | 53645900.0000 | 7913600.0000 |
| 2022-06 | 1051000000.0000 | 48289600.0000 | 35537400.0000 | 10899200.0000 |
| 2022-03 | 370000000.0000 | 26609800.0000 | 18453800.0000 | 5892100.0000 |
| 2022-09 | 1809000000.0000 | 81870900.0000 | 54466400.0000 | 15075600.0000 |
| 2021-06 | 604000000.0000 | 37025500.0000 | 26196300.0000 | 7521000.0000 |
| 2021-12 | 1853000000.0000 | 83125700.0000 | 66087700.0000 | 19806400.0000 |
| 2020-12 | 1467000000.0000 | 79836800.0000 | 47274300.0000 | 7101500.0000 |
| 2019-12 | 460000000.0000 | 14914100.0000 | 130000000.0000 | 3531100.0000 |
| 2018-12 | 235000000.0000 | 8514600.0000 | 5496600.0000 | 3083500.0000 |