中商官网
研究报告
中国联通（600050）
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 | 103354000000.0000 | 3.88 | 7243000000.0000 | 2.17 | 7572000000.0000 | 5.62 | 5897000000.0000 | 5.93 |
| 2024-06-30 | 197341000000.0000 | 2.87 | 15978000000.0000 | 5.67 | 16819000000.0000 | 10.19 | 13750000000.0000 | 10.39 |
| 2024-09-30 | 290123000000.0000 | 2.99 | 21950000000.0000 | 3.94 | 23418000000.0000 | 10.01 | 18973000000.0000 | 9.59 |
| 2024-12-31 | 389589000000.0000 | 4.56 | 22700000000.0000 | -0.63 | 25092000000.0000 | 10.49 | 20601000000.0000 | 10.09 |
| 2024-03-31 | 99496000000.0000 | 2.34 | 7089000000.0000 | 9.75 | 7169000000.0000 | 9.95 | 5567000000.0000 | 7.51 |
| 2023-12-31 | 372597000000.0000 | 4.97 | 22843000000.0000 | 11.97 | 22710000000.0000 | 11.50 | 18713000000.0000 | 12.38 |
| 2023-06-30 | 191833000000.0000 | 8.83 | 15121000000.0000 | 14.38 | 15263000000.0000 | 14.68 | 12456000000.0000 | 14.21 |
| 2023-09-30 | 281693000000.0000 | 6.71 | 21118000000.0000 | 11.46 | 21288000000.0000 | 11.35 | 17313000000.0000 | 11.23 |
| 2022-12-31 | 354944000000.0000 | 8.26 | 20401000000.0000 | 15.29 | 20367000000.0000 | 14.38 | 16651000000.0000 | 15.50 |
| 2023-03-31 | 97222000000.0000 | 9.21 | 6459000000.0000 | 15.30 | 6520000000.0000 | 14.11 | 5178000000.0000 | 11.91 |
| 2022-09-30 | 263978000000.0000 | 7.97 | 18947000000.0000 | 21.73 | 19118000000.0000 | 21.01 | 15565000000.0000 | 20.42 |
| 2022-06-30 | 176261000000.0000 | 7.36 | 13220000000.0000 | 17.97 | 13309000000.0000 | 18.40 | 10906000000.0000 | 18.91 |
| 2022-03-31 | 89022000000.0000 | 8.20 | 5602000000.0000 | 21.68 | 5714000000.0000 | 21.60 | 4627000000.0000 | 20.53 |
| 2021-12-31 | 327854000000.0000 | 7.90 | 17696000000.0000 | 13.51 | 17807000000.0000 | 11.57 | 14416000000.0000 | 15.10 |
| 2021-09-30 | 244489000000.0000 | 8.49 | 15565000000.0000 | 13.72 | 15799000000.0000 | 15.06 | 12926000000.0000 | 19.19 |
| 2021-06-30 | 164174000000.0000 | 9.16 | 11206000000.0000 | 14.92 | 11241000000.0000 | 15.86 | 9172000000.0000 | 21.03 |
| 2021-03-31 | 82272000000.0000 | 11.44 | 4604000000.0000 | 17.33 | 4699000000.0000 | 15.03 | 3839000000.0000 | 21.37 |
| 2020-12-31 | 303838000000.0000 | 4.59 | 15590000000.0000 | 15.97 | 15960000000.0000 | 13.72 | 12525000000.0000 | 11.19 |
| 2020-09-30 | 225355000000.0000 | 3.79 | 13687000000.0000 | 15.67 | 13731000000.0000 | 12.27 | 10845000000.0000 | 11.22 |
| 2020-03-31 | 73824000000.0000 | 0.93 | 3924000000.0000 | -16.72 | 4085000000.0000 | -14.61 | 3163000000.0000 | -13.86 |
| 2020-06-30 | 150397000000.0000 | 3.75 | 9751000000.0000 | 16.88 | 9702000000.0000 | 12.15 | 7578000000.0000 | 11.18 |
| 2019-09-30 | 217121000000.0000 | -1.18 | 11833000000.0000 | 10.40 | 12230000000.0000 | 15.97 | 9751000000.0000 | 23.34 |
| 2019-12-31 | 290515000000.0000 | -0.12 | 13443000000.0000 | 12.77 | 14035000000.0000 | 16.23 | 11264000000.0000 | 21.11 |
| 2019-06-30 | 144954000000.0000 | -2.78 | 8343000000.0000 | 7.10 | 8651000000.0000 | 11.81 | 6816000000.0000 | 15.68 |
| 2019-03-31 | 73147000000.0000 | -2.39 | 4712000000.0000 | 22.58 | 4784000000.0000 | 20.26 | 3672000000.0000 | 23.02 |
| 2018-12-31 | 290877000000.0000 | 5.84 | 11921000000.0000 | 687.90 | 12075000000.0000 | 407.78 | 9301000000.0000 | 452.32 |
| 2018-09-30 | 219712000000.0000 | 6.77 | 10718000000.0000 | 111.44 | 10546000000.0000 | 95.84 | 7906000000.0000 | 99.80 |
| 2018-06-30 | 149105000000.0000 | 7.92 | 7790000000.0000 | 150.40 | 7737000000.0000 | 133.39 | 5892000000.0000 | 151.15 |
| 2018-03-31 | 74935000000.0000 | 8.59 | 3844000000.0000 | 298.76 | 3978000000.0000 | 253.60 | 2985000000.0000 | 260.94 |
| 2017-12-31 | 274829000000.0000 | 0.23 | 1513000000.0000 | -340.54 | 2378000000.0000 | 309.29 | 1684000000.0000 | 250.83 |
| 2017-09-30 | 205778000000.0000 | -0.66 | 5069000000.0000 | 135.00 | 5385000000.0000 | 176.44 | 3957000000.0000 | 168.09 |
| 2016-12-31 | 274197000000.0000 | -1.03 | -629000000.0000 | -111.01 | 581000000.0000 | -95.81 | 480000000.0000 | -95.40 |
| 2017-03-31 | 69005000000.0000 | -1.90 | 964000000.0000 | 26.68 | 1125000000.0000 | 84.43 | 827000000.0000 | 87.10 |
| 2017-06-30 | 138160000000.0000 | -1.49 | 3111000000.0000 | 45.99 | 3315000000.0000 | 92.73 | 2346000000.0000 | 73.65 |
| 2016-09-30 | 207139000000.0000 | -2.25 | 2157000000.0000 | -79.05 | 1948000000.0000 | -81.33 | 1476000000.0000 | -81.74 |
| 2016-06-30 | 140255000000.0000 | -3.06 | 2131000000.0000 | -75.69 | 1720000000.0000 | -80.55 | 1351000000.0000 | -80.49 |
| 2015-12-31 | 277049000000.0000 | -3.99 | 5711000000.0000 | -64.07 | 13867000000.0000 | -12.43 | 10434000000.0000 | -12.82 |
| 2016-03-31 | 70340000000.0000 | -5.33 | 761000000.0000 | -82.13 | 610000000.0000 | -86.01 | 442000000.0000 | -85.98 |
| 2015-06-30 | 144685000000.0000 | -5.72 | 8767000000.0000 | 2.90 | 8844000000.0000 | 0.56 | 6923000000.0000 | 4.12 |
| 2015-09-30 | 211913000000.0000 | -3.34 | 10294000000.0000 | -24.40 | 10432000000.0000 | -25.46 | 8085000000.0000 | -22.99 |
| 2015-03-31 | 74303000000.0000 | -5.73 | 4258000000.0000 | -0.79 | 4359000000.0000 | -0.25 | 3153000000.0000 | -3.84 |
| 2014-12-31 | 288571000000.0000 | -4.99 | 15893000000.0000 | 23.04 | 15836000000.0000 | 15.79 | 11968000000.0000 | 16.28 |
| 2014-06-30 | 153460000000.0000 | 3.27 | 8520000000.0000 | 23.25 | 8795000000.0000 | 24.24 | 6649000000.0000 | 26.36 |
| 2014-09-30 | 219229000000.0000 | -3.27 | 13617000000.0000 | 24.21 | 13996000000.0000 | 25.75 | 10499000000.0000 | 26.39 |
| 2014-03-31 | 78817000000.0000 | 8.41 | 4292000000.0000 | 76.19 | 4370000000.0000 | 73.28 | 3279000000.0000 | 75.07 |
| 2013-12-31 | 303727000000.0000 | 18.52 | 12917000000.0000 | 61.54 | 13677000000.0000 | 43.30 | 10292000000.0000 | 46.51 |
| 2013-06-30 | 148606000000.0000 | 18.61 | 6913000000.0000 | 59.29 | 7079000000.0000 | 54.09 | 5262000000.0000 | 54.31 |
| 2013-03-31 | 72701000000.0000 | 15.43 | 2436000000.0000 | 93.49 | 2522000000.0000 | 88.63 | 1873000000.0000 | 88.81 |
| 2013-09-30 | 226646000000.0000 | 18.89 | 10963000000.0000 | 59.02 | 11130000000.0000 | 52.63 | 8307000000.0000 | 53.46 |
| 2012-09-30 | 190639000000.0000 | 18.68 | 6894000000.0000 | 28.14 | 7292000000.0000 | 29.45 | 5413000000.0000 | 29.68 |
| 2012-12-31 | 256265000000.0000 | 18.91 | 7996000000.0000 | 71.81 | 9544000000.0000 | 68.50 | 7025000000.0000 | 67.74 |
| 2012-06-30 | 125293000000.0000 | 19.92 | 4340000000.0000 | 30.29 | 4594000000.0000 | 31.63 | 3410000000.0000 | 31.61 |
| 2012-03-31 | 62984000000.0000 | 24.63 | 1259000000.0000 | 805.76 | 1337000000.0000 | 533.65 | 992000000.0000 | 579.45 |
| 2011-09-30 | 160635000000.0000 | 23.60 | 5380000000.0000 | 2.48 | 5633000000.0000 | 2.53 | 4174000000.0000 | 0.72 |
| 2011-12-31 | 215519000000.0000 | 22.29 | 4654000000.0000 | 18.06 | 5664000000.0000 | 21.23 | 4188000000.0000 | 13.43 |
| 2011-06-30 | 104483000000.0000 | 22.97 | 3331000000.0000 | -8.11 | 3490000000.0000 | -6.96 | 2591000000.0000 | -9.06 |
| 2011-03-31 | 50535000000.0000 | 21.32 | 139000000.0000 | -91.10 | 211000000.0000 | -86.53 | 146000000.0000 | -87.61 |
| 2010-09-30 | 129964000000.0000 | 9.94 | 5250000000.0000 | -55.65 | 5494000000.0000 | -54.89 | 4144000000.0000 | -55.10 |
| 2010-12-31 | 176243000000.0000 | 11.29 | 3942000000.0000 | -65.29 | 4672000000.0000 | -61.65 | 3692000000.0000 | -60.61 |
| 2010-03-31 | 41656000000.0000 | 6.81 | 1561000000.0000 | -65.41 | 1567000000.0000 | -65.75 | 1178000000.0000 | -66.21 |
| 2010-06-30 | 84964000000.0000 | 8.25 | 3625000000.0000 | -56.09 | 3751000000.0000 | -56.27 | 2849000000.0000 | -56.27 |
| 2009-06-30 | 78492000000.0000 | -6.17 | 8255000000.0000 | -39.84 | 8578000000.0000 | -40.76 | 6515000000.0000 | -45.22 |
| 2009-09-30 | 118218000000.0000 | 120.25 | 11837000000.0000 | 59.61 | 12179000000.0000 | 64.36 | 9230000000.0000 | 31.01 |
| 2009-12-31 | 158369000000.0000 | -3.48 | 11356000000.0000 | 66.19 | 12181000000.0000 | 35.63 | 9374000000.0000 | -73.37 |
| 2009-03-31 | 38999000000.0000 | 50.29 | 4513000000.0000 | 58.41 | 4575000000.0000 | 60.02 | 3486000000.0000 | 68.49 |
| 2008-12-31 | 164085000000.0000 | 6.52 | 6833000000.0000 | -68.59 | 8981000000.0000 | -66.21 | 35200000000.0000 | 70.77 |
| 2008-09-30 | 53674000000.0000 | 3.85 | 7416000000.0000 | 3.89 | 7410000000.0000 | 4.13 | 7045000000.0000 | 36.48 |
| 2008-06-30 | 83655000000.0000 | 144.10 | 13722000000.0000 | 287.30 | 14481000000.0000 | 313.86 | 11892000000.0000 | 462.00 |
| 2008-03-31 | 25950000000.0000 | 6.03 | 2849000000.0000 | -0.07 | 2859000000.0000 | -0.14 | 2069000000.0000 | 9.12 |
| 2007-12-31 | 154045000000.0000 | 59.54 | 21752000000.0000 | 252.26 | 26576000000.0000 | 340.44 | 20612000000.0000 | 512.54 |
| 2007-09-30 | 51684000000.0000 | -27.41 | 7138000000.0000 | 20.31 | 7116000000.0000 | 22.00 | 5162000000.0000 | 31.62 |
| 2007-06-30 | 34271000000.0000 | -27.82 | 3543000000.0000 | -8.57 | 3499000000.0000 | -8.04 | 2116000000.0000 | -18.52 |
| 2006-12-31 | 96556000000.0000 | 26.87 | 6175000000.0000 | -5.61 | 6034000000.0000 | -7.57 | 3365000000.0000 | -24.60 |
| 2007-03-31 | 24475000000.0000 | 5.16 | 2851000000.0000 | 49.42 | 2863000000.0000 | 50.29 | 1896000000.0000 | 45.96 |
| 2006-09-30 | 71198000000.0000 | 24.59 | 5933000000.0000 | 15.20 | 5833000000.0000 | 13.09 | 3922000000.0000 | 11.20 |
| 2006-06-30 | 47477000000.0000 | 25.21 | 3875000000.0000 | 22.59 | 3805000000.0000 | 19.84 | 2597000000.0000 | 19.62 |
| 2006-03-31 | 23274000000.0000 | 26.39 | 1908000000.0000 | 39.37 | 1905000000.0000 | 38.85 | 1299000000.0000 | 39.23 |
| 2005-09-30 | 57147000000.0000 | 7.48 | 5150000000.0000 | -6.77 | 5158000000.0000 | -7.26 | 3527000000.0000 | -8.63 |
| 2005-12-31 | 76109000000.0000 | 7.59 | 6542000000.0000 | 9.09 | 6528000000.0000 | 6.93 | 4463000000.0000 | 7.00 |
| 2005-06-30 | 37917000000.0000 | 7.24 | 3161000000.0000 | -18.87 | 3175000000.0000 | -19.31 | 2171000000.0000 | -20.51 |
| 2005-03-31 | 18415000000.0000 | 4.60 | 1369000000.0000 | -30.30 | 1372000000.0000 | -30.21 | 933000000.0000 | -31.60 |
| 2004-12-31 | 70739000000.0000 | 18.30 | 5997000000.0000 | -6.72 | 6105000000.0000 | 4.84 | 4171000000.0000 | 3.27 |
| 2004-09-30 | 53170000000.0000 | 20.02 | 5524000000.0000 | -2.11 | 5562000000.0000 | 10.18 | 3860000000.0000 | 5.78 |
| 2004-03-31 | 17606000000.0000 | 22.00 | 1964000000.0000 | -2.00 | 1966000000.0000 | -1.21 | 1364000000.0000 | 6.07 |
| 2004-06-30 | 35358000000.0000 | 22.20 | 3896000000.0000 | 2.88 | 3935000000.0000 | 23.47 | 2731000000.0000 | 20.36 |
| 2003-09-30 | 44302000000.0000 | -- | 5643000000.0000 | -- | 5048000000.0000 | -- | 3649000000.0000 | -- |
| 2003-12-31 | 59798000000.0000 | 64.97 | 6429000000.0000 | 2.67 | 5823000000.0000 | -5.96 | 4039000000.0000 | -10.72 |
| 2002-12-31 | 36248000000.0000 | 24.87 | 6262000000.0000 | 6.61 | 6192000000.0000 | 20.70 | 4524000000.0000 | 7.48 |
| 2003-03-31 | 14431000000.0000 | -- | 2004000000.0000 | -- | 1990000000.0000 | -- | 1286000000.0000 | -- |
| 2003-06-30 | 28934000000.0000 | 78.85 | 3787000000.0000 | 21.85 | 3187000000.0000 | 4.77 | 2269000000.0000 | 2.02 |
| 2001-12-31 | 29028000000.0000 | 28.72 | 5874000000.0000 | 8.20 | 5130000000.0000 | -3.70 | 4209000000.0000 | 10.27 |
| 2002-06-30 | 16178000000.0000 | -- | 3108000000.0000 | -- | 3042000000.0000 | -- | 2224000000.0000 | -- |
| 2000-12-31 | 22551000000.0000 | 50.97 | 5429000000.0000 | 394.44 | 5327000000.0000 | 475.27 | 3817000000.0000 | 746.34 |
| 1999-12-31 | 14937000000.0000 | -- | 1098000000.0000 | -- | 926000000.0000 | -- | 451000000.0000 | -- |
| 2025-06-30 | 200202000000.0000 | 1.45 | 16997000000.0000 | 6.38 | 17697000000.0000 | 5.22 | 14433000000.0000 | 4.97 |
| 2025-09-30 | 292985000000.0000 | 0.99 | 23677000000.0000 | 7.87 | 24613000000.0000 | 5.10 | 19937000000.0000 | 5.08 |
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 | 5.32 | 7.33 | 1.13 | 1.5400 | 27.1600 | 6.52 | 0.15 |
| 2024-06 | 5.76 | 8.52 | 2.52 | 3.6200 | 45.4800 | 7.89 | 0.30 |
| 2024-09 | 5.31 | 8.07 | 3.49 | 4.9900 | 66.6700 | 7.54 | 0.43 |
| 2024-12 | 3.41 | 6.44 | 3.73 | 5.4900 | 127.5200 | 7.98 | 0.58 |
| 2024-03 | 5.35 | 7.21 | 1.08 | 1.4800 | 28.0500 | 8.41 | 0.15 |
| 2023-12 | 4.24 | 6.10 | 3.43 | 5.0800 | 137.2200 | 10.97 | 0.56 |
| 2023-06 | 5.79 | 7.96 | 2.31 | 3.3800 | 50.2000 | 9.88 | 0.29 |
| 2023-09 | 5.45 | 7.56 | 3.20 | 4.6800 | 80.7400 | 9.40 | 0.42 |
| 2022-12 | 4.01 | 5.74 | 3.16 | 4.6700 | 144.2400 | 15.00 | 0.55 |
| 2023-03 | 4.55 | 6.71 | 1.00 | 1.4200 | 28.9500 | 11.33 | 0.15 |
| 2022-09 | 5.65 | 7.24 | 3.10 | 4.4700 | 69.6900 | 12.26 | 0.43 |
| 2022-06 | 6.15 | 7.55 | 2.20 | 3.1500 | 50.1600 | 12.88 | 0.29 |
| 2022-03 | 5.13 | 6.42 | 0.97 | 1.3400 | 24.1100 | 13.78 | 0.15 |
| 2021-12 | 4.23 | 5.43 | 3.00 | 4.1700 | 130.2700 | 16.89 | 0.55 |
| 2021-09 | 4.98 | 6.46 | 2.68 | 3.7700 | 70.2000 | 13.55 | 0.41 |
| 2021-06 | 5.69 | 6.85 | 1.96 | 2.6800 | 51.2100 | 13.81 | 0.29 |
| 2021-03 | 6.08 | 5.71 | 0.82 | 1.1200 | 23.7400 | 14.33 | 0.14 |
| 2020-12 | 4.26 | 5.25 | 2.74 | 3.7300 | 104.1800 | 15.22 | 0.52 |
| 2020-09 | 5.56 | 6.09 | 2.40 | 3.2300 | 71.2700 | 12.30 | 0.39 |
| 2020-03 | 5.86 | 5.53 | 0.72 | 0.9400 | 22.7600 | 12.22 | 0.13 |
| 2020-06 | 6.12 | 6.45 | 1.70 | 2.2600 | 42.6800 | 12.16 | 0.26 |
| 2019-09 | 4.42 | 5.63 | 2.14 | 2.9700 | 60.1600 | 13.28 | 0.38 |
| 2019-12 | 4.31 | 4.83 | 2.49 | 3.4500 | 90.2100 | 15.17 | 0.51 |
| 2019-06 | 4.82 | 5.97 | 1.53 | 2.0800 | 44.6100 | 13.47 | 0.26 |
| 2019-03 | 5.66 | 6.54 | 0.84 | 1.1200 | 20.9200 | -- | 0.13 |
| 2018-12 | 4.54 | 4.15 | 2.23 | 2.8600 | 92.3200 | 16.00 | 0.54 |
| 2018-09 | 5.54 | 4.80 | 1.92 | 2.4900 | 64.4300 | -- | 0.40 |
| 2018-06 | 5.71 | 5.19 | 1.40 | 1.8900 | 52.2400 | -- | 0.27 |
| 2018-03 | 4.98 | 5.31 | 0.69 | 0.9500 | 21.8200 | 14.21 | 0.13 |
| 2017-12 | 1.13 | 0.87 | 0.41 | 0.4900 | 88.6400 | 15.30 | 0.48 |
| 2017-09 | 2.49 | 2.62 | 0.91 | 1.6800 | 70.5900 | 14.02 | 0.35 |
| 2016-12 | -0.37 | 0.21 | 0.09 | 0.2000 | 66.3600 | 16.02 | 0.45 |
| 2017-03 | 1.44 | 1.63 | 0.19 | 0.3500 | 21.2800 | 14.56 | 0.11 |
| 2017-06 | 2.38 | 2.40 | 0.55 | 1.0000 | 48.8400 | 14.16 | 0.23 |
| 2016-09 | 0.93 | 0.94 | 0.33 | 0.6200 | 42.2200 | 14.07 | 0.35 |
| 2016-06 | 1.45 | 1.23 | 0.29 | 0.5700 | 28.7300 | 14.46 | 0.23 |
| 2015-12 | 2.19 | 5.01 | 2.25 | 4.4100 | 49.9000 | 16.57 | 0.45 |
| 2016-03 | 0.56 | 0.87 | 0.10 | 0.1800 | 12.2700 | 14.70 | 0.12 |
| 2015-06 | 6.21 | 6.11 | 1.64 | 2.9400 | 20.8600 | 15.42 | 0.27 |
| 2015-09 | 5.16 | 4.92 | 1.86 | 3.4200 | 32.9400 | 14.89 | 0.38 |
| 2015-03 | 5.97 | 5.87 | 0.80 | 1.3500 | 10.4900 | 16.28 | 0.14 |
| 2014-12 | 5.38 | 5.49 | 2.89 | 5.2000 | 40.3300 | 18.06 | 0.53 |
| 2014-06 | 5.41 | 5.73 | 1.70 | 2.9300 | 20.7200 | 18.21 | 0.30 |
| 2014-09 | 6.09 | 6.38 | 2.71 | 4.5700 | 31.8700 | 16.71 | 0.43 |
| 2014-03 | 5.45 | 5.54 | 0.83 | 1.4600 | 9.1300 | 19.34 | 0.15 |
| 2013-12 | 4.19 | 4.50 | 2.57 | 4.6800 | 37.3300 | 20.51 | 0.57 |
| 2013-06 | 4.65 | 4.76 | 1.39 | 2.4300 | 19.1400 | 18.99 | 0.29 |
| 2013-03 | 3.35 | 3.47 | 0.50 | 0.8700 | 8.1200 | 19.51 | 0.14 |
| 2013-09 | 4.75 | 4.91 | 2.16 | 3.8000 | 25.3900 | 20.04 | 0.44 |
| 2012-09 | 3.40 | 3.83 | 1.55 | 2.5700 | 29.7700 | 17.50 | 0.41 |
| 2012-12 | 2.96 | 3.72 | 1.84 | 3.3100 | 34.2600 | 19.17 | 0.49 |
| 2012-06 | 3.14 | 3.67 | 0.97 | 1.6200 | 16.9000 | 18.64 | 0.26 |
| 2012-03 | 2.00 | 2.12 | 0.29 | 0.4700 | 8.2200 | 19.39 | 0.14 |
| 2011-09 | 3.07 | 3.51 | 1.29 | 1.9800 | 28.1900 | 18.87 | 0.37 |
| 2011-12 | 1.76 | 2.63 | 1.24 | 1.9900 | 36.8500 | 18.87 | 0.47 |
| 2011-06 | 2.76 | 3.34 | 0.79 | 1.2200 | 18.9800 | 19.10 | 0.24 |
| 2011-03 | 0.28 | 0.42 | 0.05 | 0.0700 | 9.1300 | 18.83 | 0.11 |
| 2010-09 | 3.86 | 4.23 | 1.30 | 1.4900 | 40.2900 | 16.76 | 0.31 |
| 2010-12 | 1.96 | 2.65 | 1.05 | 1.7300 | 40.3000 | 17.37 | 0.40 |
| 2010-03 | 3.75 | 3.76 | 0.39 | 0.5200 | 12.3200 | 16.22 | 0.10 |
| 2010-06 | 3.99 | 4.41 | 0.90 | 1.1700 | 24.4700 | 16.40 | 0.20 |
| 2009-06 | 10.52 | 10.93 | 2.40 | 3.1000 | 43.8200 | 15.48 | 0.22 |
| 2009-09 | 9.20 | 10.30 | 3.29 | 0.0000 | 61.6200 | 15.63 | 0.32 |
| 2009-12 | 6.25 | 7.69 | 2.91 | 4.4700 | 58.9700 | 16.51 | 0.38 |
| 2009-03 | 11.57 | 11.73 | 1.28 | 0.0000 | 23.8000 | 15.37 | 0.11 |
| 2008-12 | 4.16 | 5.47 | 2.55 | 21.2300 | 52.0100 | 24.28 | 0.47 |
| 2008-09 | 13.81 | 13.81 | 5.20 | 0.0000 | 19.3800 | 24.31 | 0.38 |
| 2008-06 | 16.40 | 17.31 | 10.15 | 4.7200 | 12.9700 | 25.30 | 0.59 |
| 2008-03 | 10.97 | 11.02 | 1.98 | -- | 6.5500 | 31.01 | 0.18 |
| 2007-12 | 14.49 | 17.25 | 7.92 | 11.3600 | 25.0800 | 29.61 | 0.46 |
| 2007-09 | 14.91 | 13.77 | 5.18 | -- | 18.1000 | 28.82 | 0.38 |
| 2007-06 | 15.12 | 10.21 | 2.55 | 2.7200 | 12.2400 | 28.08 | 0.25 |
| 2006-12 | 8.88 | 6.25 | 4.25 | 7.4600 | 26.3800 | 23.73 | 0.68 |
| 2007-03 | 11.05 | 11.70 | 2.10 | -- | 5.9900 | 27.36 | 0.18 |
| 2006-09 | 8.65 | 8.19 | 4.14 | -- | 19.8400 | 22.30 | 0.51 |
| 2006-06 | 8.16 | 8.01 | 2.78 | 3.4200 | 13.3300 | 21.45 | 0.35 |
| 2006-03 | 8.20 | 8.19 | 1.39 | -- | 6.0300 | 19.85 | 0.17 |
| 2005-09 | 9.63 | 9.03 | 3.62 | -- | 11.1700 | 13.99 | 0.40 |
| 2005-12 | 9.11 | 8.58 | 4.72 | 6.0700 | 15.1800 | 15.23 | 0.55 |
| 2005-06 | 8.96 | 8.37 | 2.22 | 3.0000 | 6.9200 | 13.89 | 0.26 |
| 2005-03 | 8.39 | 7.45 | 0.95 | -- | 3.2400 | 12.79 | 0.13 |
| 2004-12 | 9.30 | 8.63 | 4.22 | 5.9000 | 13.1800 | 12.88 | 0.49 |
| 2004-09 | 10.98 | 10.46 | 3.78 | -- | 9.6200 | 11.71 | 0.36 |
| 2004-03 | 12.08 | 11.17 | 1.29 | -- | 3.8200 | 11.55 | 0.12 |
| 2004-06 | 11.64 | 11.13 | 2.68 | 3.9300 | 7.9100 | 11.87 | 0.24 |
| 2003-09 | 13.06 | 11.39 | 3.53 | -- | 7.7600 | 10.03 | 0.31 |
| 2003-12 | 11.84 | 9.74 | 3.88 | 6.0700 | 10.3400 | 10.88 | 0.40 |
| 2002-12 | 17.19 | 17.08 | 4.13 | 6.9600 | 10.5800 | 9.65 | 0.24 |
| 2003-03 | 14.96 | 13.79 | 1.36 | -- | 2.2500 | 10.16 | 0.10 |
| 2003-06 | 13.49 | 11.01 | 2.25 | 3.4700 | 5.2900 | 11.02 | 0.20 |
| 2001-12 | 20.55 | 17.67 | 4.01 | 7.1000 | 21.0700 | 12.52 | 0.23 |
| 2002-06 | 19.81 | 18.80 | 2.68 | 3.7000 | 10.5400 | 11.29 | 0.14 |
| 2000-12 | 27.26 | 23.62 | 4.72 | 11.1000 | 15.4800 | 13.06 | 0.20 |
| 1999-12 | 13.96 | 6.20 | 2.05 | 1.2000 | 11.1400 | 9.24 | 0.33 |
| 2025-06 | 6.52 | 8.84 | 2.66 | 3.7300 | 50.1300 | 6.20 | 0.30 |
| 2025-09 | 6.05 | 8.40 | -- | -- | -- | -- | -- |
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 | 43.89 | 56.11 | 0.6200 | 0.4900 |
| 2024-06 | 44.91 | 55.09 | 0.6700 | 0.5000 |
| 2024-09 | 44.99 | 55.01 | 0.6800 | 0.5500 |
| 2024-12 | 45.19 | 54.81 | 0.6000 | 0.4500 |
| 2024-03 | 45.35 | 54.65 | 0.6400 | 0.4600 |
| 2023-12 | 46.00 | 54.00 | 0.6100 | 0.4100 |
| 2023-06 | 45.86 | 54.14 | 0.6600 | 0.4700 |
| 2023-09 | 46.10 | 53.90 | 0.6600 | 0.5000 |
| 2022-12 | 46.13 | 53.87 | 0.5900 | 0.4300 |
| 2023-03 | 45.88 | 54.12 | 0.6300 | 0.4500 |
| 2022-09 | 43.72 | 56.28 | 0.6300 | 0.4600 |
| 2022-06 | 42.90 | 57.10 | 0.6100 | 0.4400 |
| 2022-03 | 42.14 | 57.86 | 0.5700 | 0.3500 |
| 2021-12 | 43.33 | 56.67 | 0.5400 | 0.3100 |
| 2021-09 | 43.01 | 56.99 | 0.5700 | 0.3200 |
| 2021-06 | 41.52 | 58.48 | 0.5600 | 0.2900 |
| 2021-03 | 41.13 | 58.87 | 0.5300 | 0.2800 |
| 2020-12 | 43.09 | 56.91 | 0.4900 | 0.2700 |
| 2020-09 | 42.41 | 57.59 | 0.5200 | 0.3400 |
| 2020-03 | 42.35 | 57.65 | 0.4700 | 0.3600 |
| 2020-06 | 42.62 | 57.38 | 0.4900 | 0.3500 |
| 2019-09 | 43.48 | 56.52 | 0.4100 | 0.3000 |
| 2019-12 | 42.67 | 57.33 | 0.4000 | 0.3100 |
| 2019-06 | 43.61 | 56.39 | 0.3800 | 0.2900 |
| 2019-03 | 43.71 | 56.29 | 0.3800 | 0.2900 |
| 2018-12 | 41.50 | 58.50 | 0.3600 | 0.2700 |
| 2018-09 | 42.72 | 57.28 | 0.4200 | 0.3500 |
| 2018-06 | 43.51 | 56.49 | 0.3800 | 0.3200 |
| 2018-03 | 45.89 | 54.11 | 0.4000 | 0.3400 |
| 2017-12 | 46.48 | 53.52 | 0.3200 | 0.2700 |
| 2017-09 | 60.24 | 39.76 | 0.3100 | 0.2800 |
| 2016-12 | 62.57 | 37.43 | 0.2400 | 0.2100 |
| 2017-03 | 61.47 | 38.53 | 0.2600 | 0.2200 |
| 2017-06 | 61.02 | 38.98 | 0.2900 | 0.2600 |
| 2016-09 | 61.21 | 38.79 | 0.2100 | 0.1700 |
| 2016-06 | 61.55 | 38.45 | 0.1900 | 0.1600 |
| 2015-12 | 61.96 | 38.04 | 0.1800 | 0.1400 |
| 2016-03 | 61.02 | 38.98 | 0.1900 | 0.1400 |
| 2015-06 | 56.95 | 43.05 | 0.2100 | 0.1600 |
| 2015-09 | 58.47 | 41.53 | 0.2300 | 0.1800 |
| 2015-03 | 56.96 | 43.04 | 0.2200 | 0.1700 |
| 2014-12 | 57.90 | 42.10 | 0.1900 | 0.1600 |
| 2014-06 | 56.59 | 43.41 | 0.2000 | 0.1600 |
| 2014-09 | 55.58 | 44.42 | 0.2100 | 0.1700 |
| 2014-03 | 57.12 | 42.88 | 0.2000 | 0.1600 |
| 2013-12 | 58.29 | 41.71 | 0.1800 | 0.1400 |
| 2013-06 | 57.72 | 42.28 | 0.1600 | 0.1300 |
| 2013-03 | 57.78 | 42.22 | 0.1700 | 0.1300 |
| 2013-09 | 57.35 | 42.65 | 0.1900 | 0.1500 |
| 2012-09 | 55.09 | 44.91 | 0.1700 | 0.1300 |
| 2012-12 | 59.06 | 40.94 | 0.1600 | 0.1300 |
| 2012-06 | 56.01 | 43.99 | 0.2000 | 0.1600 |
| 2012-03 | 53.86 | 46.14 | 0.2100 | 0.1600 |
| 2011-09 | 52.10 | 47.90 | 0.2000 | 0.1600 |
| 2011-12 | 54.50 | 45.50 | 0.1800 | 0.1400 |
| 2011-06 | 52.69 | 47.31 | 0.2000 | 0.1600 |
| 2011-03 | 52.77 | 47.23 | 0.2400 | 0.1900 |
| 2010-09 | 50.70 | 49.30 | 0.1600 | 0.1300 |
| 2010-12 | 53.06 | 46.94 | 0.2100 | 0.1800 |
| 2010-03 | 48.51 | 51.49 | 0.1500 | 0.1200 |
| 2010-06 | 50.89 | 49.11 | 0.1300 | 0.1000 |
| 2009-06 | 41.85 | 58.15 | 0.2100 | 0.2000 |
| 2009-09 | 43.01 | 56.99 | 0.2300 | 0.2000 |
| 2009-12 | 50.18 | 49.82 | 0.1500 | 0.1300 |
| 2009-03 | 41.20 | 58.80 | 0.3000 | 0.2800 |
| 2008-12 | 40.28 | 59.72 | 0.2900 | 0.2700 |
| 2008-09 | 31.45 | 68.55 | 0.2400 | 0.2000 |
| 2008-06 | 33.32 | 66.68 | 0.3300 | 0.2800 |
| 2008-03 | 34.07 | 65.93 | 0.4100 | 0.3200 |
| 2007-12 | 46.14 | 53.86 | 0.3400 | 0.2600 |
| 2007-09 | 35.14 | 64.86 | 0.3700 | 0.2800 |
| 2007-06 | 45.22 | 54.78 | 0.4000 | 0.3100 |
| 2006-12 | 46.75 | 53.25 | 0.4000 | 0.3300 |
| 2007-03 | 43.44 | 56.56 | 0.4000 | 0.3000 |
| 2006-09 | 44.65 | 55.35 | 0.4000 | 0.3400 |
| 2006-06 | 44.33 | 55.67 | 0.3100 | 0.2600 |
| 2006-03 | 44.43 | 55.57 | 0.3500 | 0.2900 |
| 2005-09 | 48.03 | 51.97 | 0.3900 | 0.3400 |
| 2005-12 | 45.75 | 54.25 | 0.3000 | 0.2500 |
| 2005-06 | 49.25 | 50.75 | 0.3800 | 0.3200 |
| 2005-03 | 49.79 | 50.21 | 0.4200 | 0.3500 |
| 2004-12 | 50.52 | 49.48 | 0.3700 | 0.2900 |
| 2004-09 | 51.53 | 48.47 | 0.4600 | 0.3700 |
| 2004-03 | 53.94 | 46.06 | 0.6300 | 0.5600 |
| 2004-06 | 52.10 | 47.90 | 0.4700 | 0.4100 |
| 2003-09 | 51.87 | 48.13 | 0.5700 | 0.5000 |
| 2003-12 | 54.17 | 45.83 | 0.5000 | 0.4300 |
| 2002-12 | 56.70 | 43.30 | 0.6800 | 0.5900 |
| 2003-03 | 54.69 | 45.31 | 0.6300 | 0.5500 |
| 2003-06 | 52.27 | 47.73 | 0.5400 | 0.4800 |
| 2001-12 | 51.33 | 48.67 | 1.6900 | 1.6500 |
| 2002-06 | 43.40 | 56.60 | 1.1700 | 1.1000 |
| 2000-12 | 48.45 | 51.55 | 2.0900 | 2.0300 |
| 1999-12 | 75.43 | 24.57 | 0.4800 | 0.4300 |
| 2025-06 | 43.03 | 56.97 | 0.6500 | 0.5100 |
| 2025-09 | -- | -- | -- | -- |
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 | 97852000000.0000 | 9247000000.0000 | 4692000000.0000 | -124000000.0000 |
| 2024-06 | 185978000000.0000 | 17734000000.0000 | 11080000000.0000 | 846000000.0000 |
| 2024-09 | 274728000000.0000 | 26597000000.0000 | 16327000000.0000 | -157000000.0000 |
| 2024-12 | 376309000000.0000 | 36975000000.0000 | 23404000000.0000 | 1683000000.0000 |
| 2024-03 | 94172000000.0000 | 8836000000.0000 | 4686000000.0000 | -45952000.0000 |
| 2023-12 | 356800000000.0000 | 35833000000.0000 | 23998000000.0000 | 1847000000.0000 |
| 2023-06 | 180717000000.0000 | 17322000000.0000 | 13355000000.0000 | 925000000.0000 |
| 2023-09 | 266331000000.0000 | 25937000000.0000 | 18393000000.0000 | -215000000.0000 |
| 2022-12 | 340721000000.0000 | 34455000000.0000 | 22981000000.0000 | 992000000.0000 |
| 2023-03 | 92798000000.0000 | 8653000000.0000 | 5644000000.0000 | 19844600.0000 |
| 2022-09 | 249062000000.0000 | 24717000000.0000 | 19262000000.0000 | -556000000.0000 |
| 2022-06 | 165415000000.0000 | 16060000000.0000 | 13250000000.0000 | 511000000.0000 |
| 2022-03 | 84458000000.0000 | 8080000000.0000 | 7813000000.0000 | -28295500.0000 |
| 2021-12 | 313970000000.0000 | 32212000000.0000 | 24780000000.0000 | 1176000000.0000 |
| 2021-09 | 232306000000.0000 | 23136000000.0000 | 19927000000.0000 | 66353300.0000 |
| 2021-06 | 154833000000.0000 | 15565000000.0000 | 14195000000.0000 | 590000000.0000 |
| 2021-03 | 77267000000.0000 | 7785000000.0000 | 7206000000.0000 | -87268200.0000 |
| 2020-12 | 290900000000.0000 | 30461000000.0000 | 25759000000.0000 | 1339000000.0000 |
| 2020-09 | 212825000000.0000 | 22465000000.0000 | 18835000000.0000 | 138000000.0000 |
| 2020-03 | 69499000000.0000 | 7689000000.0000 | 6106000000.0000 | 88514200.0000 |
| 2020-06 | 141187000000.0000 | 14879000000.0000 | 12543000000.0000 | 823000000.0000 |
| 2019-09 | 207527000000.0000 | 25705000000.0000 | 19056000000.0000 | 580000000.0000 |
| 2019-12 | 277991000000.0000 | 33545000000.0000 | 22977000000.0000 | 1891000000.0000 |
| 2019-06 | 137965000000.0000 | 17458000000.0000 | 12709000000.0000 | 1066000000.0000 |
| 2019-03 | 69005000000.0000 | 9045000000.0000 | 5791000000.0000 | 265000000.0000 |
| 2018-12 | 277669000000.0000 | 35170000000.0000 | 22925000000.0000 | 1640000000.0000 |
| 2018-09 | 207538000000.0000 | 25288000000.0000 | 17062000000.0000 | 106000000.0000 |
| 2018-06 | 140591000000.0000 | 16485000000.0000 | 11659000000.0000 | 1072000000.0000 |
| 2018-03 | 71201000000.0000 | 8623000000.0000 | 5743000000.0000 | 245000000.0000 |
| 2017-12 | 271717000000.0000 | 34085000000.0000 | 20842000000.0000 | 4596000000.0000 |
| 2017-09 | 200659000000.0000 | 24400000000.0000 | 15201000000.0000 | 3552000000.0000 |
| 2016-12 | 275200000000.0000 | 34646000000.0000 | 19874000000.0000 | 4022000000.0000 |
| 2017-03 | 68011000000.0000 | 8307000000.0000 | 5251000000.0000 | 1251000000.0000 |
| 2017-06 | 134876000000.0000 | 16096000000.0000 | 10049000000.0000 | 2395000000.0000 |
| 2016-09 | 205221000000.0000 | 25434000000.0000 | 14393000000.0000 | 3053000000.0000 |
| 2016-06 | 138217000000.0000 | 17131000000.0000 | 9757000000.0000 | 2027000000.0000 |
| 2015-12 | 270977000000.0000 | 31965000000.0000 | 19840000000.0000 | 6521000000.0000 |
| 2016-03 | 69948000000.0000 | 8676000000.0000 | 4795000000.0000 | 1097000000.0000 |
| 2015-06 | 135699000000.0000 | 14633000000.0000 | 9614000000.0000 | 3069000000.0000 |
| 2015-09 | 200982000000.0000 | 22247000000.0000 | 14478000000.0000 | 5547000000.0000 |
| 2015-03 | 69869000000.0000 | 7495000000.0000 | 4783000000.0000 | 1564000000.0000 |
| 2014-12 | 273033000000.0000 | 40193000000.0000 | 19825000000.0000 | 4333000000.0000 |
| 2014-06 | 145162000000.0000 | 23824000000.0000 | 9610000000.0000 | 2573000000.0000 |
| 2014-09 | 205868000000.0000 | 31790000000.0000 | 14457000000.0000 | 3573000000.0000 |
| 2014-03 | 74525000000.0000 | 12150000000.0000 | 4714000000.0000 | 1551000000.0000 |
| 2013-12 | 291008000000.0000 | 42991000000.0000 | 20373000000.0000 | 2949000000.0000 |
| 2013-06 | 141695000000.0000 | 20385000000.0000 | 9733000000.0000 | 1402000000.0000 |
| 2013-03 | 70265000000.0000 | 10009000000.0000 | 4928000000.0000 | 944000000.0000 |
| 2013-09 | 215881000000.0000 | 31886000000.0000 | 14833000000.0000 | 2299000000.0000 |
| 2012-09 | 184166000000.0000 | 25377000000.0000 | 14952000000.0000 | 2801000000.0000 |
| 2012-12 | 248686000000.0000 | 35037000000.0000 | 20491000000.0000 | 3417000000.0000 |
| 2012-06 | 121365000000.0000 | 16376000000.0000 | 9639000000.0000 | 1921000000.0000 |
| 2012-03 | 61725000000.0000 | 8150000000.0000 | 4683000000.0000 | 904000000.0000 |
| 2011-09 | 155696000000.0000 | 20635000000.0000 | 12952000000.0000 | 825000000.0000 |
| 2011-12 | 211730000000.0000 | 28751000000.0000 | 18200000000.0000 | 1243000000.0000 |
| 2011-06 | 101596000000.0000 | 13596000000.0000 | 8478000000.0000 | 772000000.0000 |
| 2011-03 | 50395000000.0000 | 6786000000.0000 | 4237000000.0000 | 476000000.0000 |
| 2010-09 | 124949000000.0000 | 17110000000.0000 | 11690000000.0000 | 1244000000.0000 |
| 2010-12 | 172786000000.0000 | 23735000000.0000 | 16123000000.0000 | 1784000000.0000 |
| 2010-03 | 40094000000.0000 | 5688000000.0000 | 3734000000.0000 | 445000000.0000 |
| 2010-06 | 81571000000.0000 | 11340000000.0000 | 7652000000.0000 | 823000000.0000 |
| 2009-06 | 70238000000.0000 | 9631000000.0000 | 6453000000.0000 | 311000000.0000 |
| 2009-09 | 107341000000.0000 | 14835000000.0000 | 9962000000.0000 | 523000000.0000 |
| 2009-12 | 148465000000.0000 | 20957000000.0000 | 14048000000.0000 | 944000000.0000 |
| 2009-03 | 34486000000.0000 | 4648000000.0000 | 3175000000.0000 | 150000000.0000 |
| 2008-12 | 157257000000.0000 | 19308000000.0000 | 13709000000.0000 | 2156000000.0000 |
| 2008-09 | 46259000000.0000 | 7966000000.0000 | 3467000000.0000 | -230000000.0000 |
| 2008-06 | 69933000000.0000 | 8908000000.0000 | 6483000000.0000 | 1074000000.0000 |
| 2008-03 | 23102000000.0000 | 4940000000.0000 | 1468000000.0000 | -87390000.0000 |
| 2007-12 | 131724000000.0000 | 16728000000.0000 | 11548000000.0000 | 2999000000.0000 |
| 2007-09 | 43977000000.0000 | 7263000000.0000 | 3185000000.0000 | -110000000.0000 |
| 2007-06 | 29089000000.0000 | 4763000000.0000 | 2078000000.0000 | -70226700.0000 |
| 2006-12 | 87985000000.0000 | 18011000000.0000 | 5736000000.0000 | 998000000.0000 |
| 2007-03 | 21770000000.0000 | 4291000000.0000 | 1372000000.0000 | 44782800.0000 |
| 2006-09 | 65039000000.0000 | 13496000000.0000 | 4236000000.0000 | 841000000.0000 |
| 2006-06 | 43602000000.0000 | 9450000000.0000 | 2780000000.0000 | 669000000.0000 |
| 2006-03 | 21366000000.0000 | 4775000000.0000 | 1314000000.0000 | 343000000.0000 |
| 2005-09 | 51643000000.0000 | 14698000000.0000 | 4523000000.0000 | 1247000000.0000 |
| 2005-12 | 69179000000.0000 | 19417000000.0000 | 6433000000.0000 | 1658000000.0000 |
| 2005-06 | 34521000000.0000 | 10056000000.0000 | 3012000000.0000 | 957000000.0000 |
| 2005-03 | 16870000000.0000 | 4650000000.0000 | 1535000000.0000 | 507000000.0000 |
| 2004-12 | 64163000000.0000 | 18944000000.0000 | 6213000000.0000 | 2242000000.0000 |
| 2004-09 | 47331000000.0000 | 13897000000.0000 | 4696000000.0000 | 1769000000.0000 |
| 2004-03 | 15479000000.0000 | 4594000000.0000 | 1574000000.0000 | 613000000.0000 |
| 2004-06 | 31243000000.0000 | 9345000000.0000 | 3125000000.0000 | 1204000000.0000 |
| 2003-09 | 38516000000.0000 | 10600000000.0000 | 4189000000.0000 | 1803000000.0000 |
| 2003-12 | 52718000000.0000 | 15157000000.0000 | 5609000000.0000 | 2369000000.0000 |
| 2002-12 | 30017000000.0000 | 5997000000.0000 | 3593000000.0000 | 1442000000.0000 |
| 2003-03 | 12272000000.0000 | 3205000000.0000 | 1244000000.0000 | 635000000.0000 |
| 2003-06 | 25030000000.0000 | 6738000000.0000 | 2717000000.0000 | 1215000000.0000 |
| 2001-12 | 23062000000.0000 | 3613000000.0000 | 2806000000.0000 | 282000000.0000 |
| 2002-06 | 12973000000.0000 | 2106000000.0000 | 1516000000.0000 | 710000000.0000 |
| 2000-12 | 16403000000.0000 | 2513000000.0000 | 2009000000.0000 | -201000000.0000 |
| 1999-12 | 12852000000.0000 | 1544000000.0000 | 1687000000.0000 | 723000000.0000 |
| 2025-06 | 187143000000.0000 | 18170000000.0000 | 10697000000.0000 | 555000000.0000 |
| 2025-09 | 275274000000.0000 | 27369000000.0000 | 16155000000.0000 | -426000000.0000 |