中商官网
研究报告
海螺水泥（600585）
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 | 19051000000.0000 | -10.68 | 2165000000.0000 | 26.76 | 2315000000.0000 | 20.82 | 1775000000.0000 | 19.29 |
| 2024-12-31 | 91030000000.0000 | -35.51 | 9713000000.0000 | -26.03 | 10029000000.0000 | -26.22 | 7663000000.0000 | -28.68 |
| 2024-09-30 | 68150000000.0000 | -31.27 | 6391000000.0000 | -41.76 | 6802000000.0000 | -40.52 | 5245000000.0000 | -42.19 |
| 2024-06-30 | 45566000000.0000 | -30.44 | 4028000000.0000 | -51.51 | 4387000000.0000 | -48.38 | 3384000000.0000 | -50.26 |
| 2023-12-31 | 141157000000.0000 | 6.92 | 13131000000.0000 | -32.57 | 13594000000.0000 | -32.08 | 10745000000.0000 | -33.43 |
| 2024-03-31 | 21328000000.0000 | -32.08 | 1708000000.0000 | -43.01 | 1916000000.0000 | -43.98 | 1488000000.0000 | -44.33 |
| 2023-03-31 | 31403000000.0000 | 23.31 | 2997000000.0000 | -53.40 | 3420000000.0000 | -48.80 | 2673000000.0000 | -47.62 |
| 2023-09-30 | 99157000000.0000 | 16.21 | 10974000000.0000 | -30.72 | 11435000000.0000 | -30.01 | 9073000000.0000 | -28.88 |
| 2023-06-30 | 65504000000.0000 | 16.40 | 8307000000.0000 | -34.34 | 8499000000.0000 | -34.50 | 6804000000.0000 | -33.04 |
| 2022-09-30 | 85328000000.0000 | -29.89 | 15840000000.0000 | -45.30 | 16338000000.0000 | -45.03 | 12758000000.0000 | -44.46 |
| 2022-12-31 | 132022000000.0000 | -21.40 | 19474000000.0000 | -54.82 | 20015000000.0000 | -54.63 | 16140000000.0000 | -52.76 |
| 2021-12-31 | 167960000000.0000 | -4.73 | 43106000000.0000 | -6.90 | 44114000000.0000 | -6.41 | 34164000000.0000 | -6.14 |
| 2022-06-30 | 56276000000.0000 | -30.06 | 12651000000.0000 | -34.45 | 12976000000.0000 | -34.74 | 10162000000.0000 | -33.94 |
| 2022-03-31 | 25466000000.0000 | -26.06 | 6431000000.0000 | -15.64 | 6680000000.0000 | -14.42 | 5103000000.0000 | -14.19 |
| 2021-09-30 | 121712000000.0000 | -1.89 | 28957000000.0000 | -11.14 | 29720000000.0000 | -10.48 | 22970000000.0000 | -10.37 |
| 2021-03-31 | 34441000000.0000 | 48.41 | 7623000000.0000 | 17.62 | 7806000000.0000 | 17.07 | 5947000000.0000 | 20.21 |
| 2021-06-30 | 80464000000.0000 | 8.72 | 19300000000.0000 | -8.73 | 19885000000.0000 | -7.49 | 15384000000.0000 | -7.43 |
| 2020-09-30 | 124058000000.0000 | 12.01 | 32588000000.0000 | 4.74 | 33200000000.0000 | 5.43 | 25628000000.0000 | 5.06 |
| 2020-06-30 | 74007000000.0000 | 3.30 | 21145000000.0000 | 5.01 | 21496000000.0000 | 5.70 | 16618000000.0000 | 6.40 |
| 2020-12-31 | 176295000000.0000 | 12.27 | 46300000000.0000 | 5.09 | 47137000000.0000 | 5.79 | 36400000000.0000 | 5.96 |
| 2020-03-31 | 23207000000.0000 | -23.91 | 6481000000.0000 | -18.27 | 6668000000.0000 | -16.93 | 4947000000.0000 | -20.26 |
| 2019-12-31 | 157030000000.0000 | 22.29 | 44057000000.0000 | 10.47 | 44557000000.0000 | 12.44 | 34352000000.0000 | 12.13 |
| 2019-06-30 | 71644000000.0000 | 56.63 | 20136000000.0000 | 18.37 | 20336000000.0000 | 18.33 | 15618000000.0000 | 17.34 |
| 2019-03-31 | 30501000000.0000 | 62.52 | 7930000000.0000 | 28.07 | 8027000000.0000 | 27.17 | 6204000000.0000 | 26.56 |
| 2019-09-30 | 110756000000.0000 | 42.37 | 31113000000.0000 | 15.17 | 31491000000.0000 | 14.64 | 24393000000.0000 | 14.50 |
| 2018-09-30 | 77792000000.0000 | 55.46 | 27015000000.0000 | 107.95 | 27470000000.0000 | 105.98 | 21303000000.0000 | 107.79 |
| 2018-12-31 | 128403000000.0000 | 70.50 | 39882000000.0000 | 91.51 | 39629000000.0000 | 86.67 | 30636000000.0000 | 86.48 |
| 2018-06-30 | 45742000000.0000 | 43.36 | 17011000000.0000 | 89.77 | 17186000000.0000 | 86.70 | 13310000000.0000 | 88.58 |
| 2018-03-31 | 18767000000.0000 | 37.60 | 6192000000.0000 | 120.59 | 6312000000.0000 | 114.18 | 4902000000.0000 | 114.91 |
| 2017-12-31 | 75311000000.0000 | 34.65 | 20825000000.0000 | 91.64 | 21229000000.0000 | 82.18 | 16429000000.0000 | 83.54 |
| 2017-03-31 | 13639000000.0000 | 28.58 | 2807000000.0000 | 150.40 | 2947000000.0000 | 92.87 | 2281000000.0000 | 94.29 |
| 2017-09-30 | 50039000000.0000 | 31.86 | 12991000000.0000 | 79.38 | 13336000000.0000 | 66.53 | 10252000000.0000 | 64.64 |
| 2017-06-30 | 31908000000.0000 | 33.10 | 8964000000.0000 | 125.91 | 9205000000.0000 | 104.42 | 7058000000.0000 | 103.99 |
| 2016-09-30 | 37949000000.0000 | -0.05 | 7242000000.0000 | 2.69 | 8008000000.0000 | -1.22 | 6227000000.0000 | 1.55 |
| 2016-12-31 | 55932000000.0000 | 9.72 | 10867000000.0000 | 25.38 | 11653000000.0000 | 16.08 | 8951000000.0000 | 17.34 |
| 2016-06-30 | 23973000000.0000 | -1.03 | 3968000000.0000 | -27.29 | 4503000000.0000 | -27.86 | 3460000000.0000 | -27.02 |
| 2016-03-31 | 10607000000.0000 | -5.54 | 1121000000.0000 | -39.31 | 1528000000.0000 | -29.00 | 1174000000.0000 | -31.66 |
| 2015-12-31 | 50976000000.0000 | -16.10 | 8667000000.0000 | -37.30 | 10039000000.0000 | -32.55 | 7628000000.0000 | -34.17 |
| 2015-03-31 | 11229000000.0000 | -11.09 | 1847000000.0000 | -41.29 | 2152000000.0000 | -35.36 | 1718000000.0000 | -33.64 |
| 2015-09-30 | 37969000000.0000 | -13.06 | 7052000000.0000 | -31.41 | 8107000000.0000 | -26.74 | 6132000000.0000 | -29.26 |
| 2015-06-30 | 24223000000.0000 | -15.85 | 5457000000.0000 | -25.92 | 6242000000.0000 | -20.43 | 4741000000.0000 | -22.82 |
| 2014-12-31 | 60759000000.0000 | 9.95 | 13823000000.0000 | 17.71 | 14883000000.0000 | 17.83 | 11588000000.0000 | 18.11 |
| 2014-09-30 | 43675000000.0000 | 18.02 | 10281000000.0000 | 55.49 | 11066000000.0000 | 51.73 | 8668000000.0000 | 53.66 |
| 2014-06-30 | 28784000000.0000 | 22.03 | 7366000000.0000 | 102.64 | 7845000000.0000 | 93.18 | 6143000000.0000 | 93.79 |
| 2014-03-31 | 12630000000.0000 | 27.50 | 3146000000.0000 | 182.91 | 3329000000.0000 | 159.47 | 2589000000.0000 | 158.64 |
| 2013-12-31 | 55262000000.0000 | 20.75 | 11743000000.0000 | 67.37 | 12631000000.0000 | 56.17 | 9811000000.0000 | 51.83 |
| 2013-09-30 | 37008000000.0000 | 14.76 | 6612000000.0000 | 52.24 | 7293000000.0000 | 45.11 | 5641000000.0000 | 40.57 |
| 2013-03-31 | 9906000000.0000 | 11.82 | 1112000000.0000 | -14.33 | 1283000000.0000 | -22.05 | 1001000000.0000 | -20.68 |
| 2013-06-30 | 23587000000.0000 | 14.73 | 3635000000.0000 | 16.84 | 4061000000.0000 | 11.60 | 3170000000.0000 | 6.73 |
| 2012-09-30 | 32247000000.0000 | -7.80 | 4343000000.0000 | -62.72 | 5026000000.0000 | -58.72 | 4013000000.0000 | -56.60 |
| 2012-06-30 | 20559000000.0000 | -7.92 | 3111000000.0000 | -59.43 | 3639000000.0000 | -54.80 | 2970000000.0000 | -51.30 |
| 2012-12-31 | 45766000000.0000 | -5.94 | 7016000000.0000 | -53.10 | 8088000000.0000 | -48.33 | 6462000000.0000 | -45.35 |
| 2011-09-30 | 34975000000.0000 | 56.43 | 11651000000.0000 | 214.13 | 12176000000.0000 | 197.56 | 9246000000.0000 | 181.55 |
| 2011-12-31 | 48654000000.0000 | 40.99 | 14960000000.0000 | 96.43 | 15652000000.0000 | 93.76 | 11824000000.0000 | 86.09 |
| 2012-03-31 | 8859000000.0000 | -4.90 | 1298000000.0000 | -54.18 | 1646000000.0000 | -45.33 | 1262000000.0000 | -44.11 |
| 2010-12-31 | 34508000000.0000 | 38.04 | 7616000000.0000 | 78.78 | 8078000000.0000 | 80.43 | 6354000000.0000 | 73.51 |
| 2011-03-31 | 9315000000.0000 | 53.46 | 2833000000.0000 | 244.23 | 3011000000.0000 | 198.12 | 2258000000.0000 | 174.70 |
| 2011-06-30 | 22327000000.0000 | 61.00 | 7669000000.0000 | 272.82 | 8050000000.0000 | 243.58 | 6098000000.0000 | 225.23 |
| 2010-09-30 | 22358000000.0000 | 26.55 | 3709000000.0000 | 39.86 | 4092000000.0000 | 46.46 | 3284000000.0000 | 42.97 |
| 2010-06-30 | 13868000000.0000 | 23.42 | 2057000000.0000 | 36.68 | 2343000000.0000 | 46.25 | 1875000000.0000 | 40.87 |
| 2010-03-31 | 6070000000.0000 | 17.98 | 823000000.0000 | 65.59 | 1010000000.0000 | 91.29 | 822000000.0000 | 95.71 |
| 2009-09-30 | 17668000000.0000 | 5.96 | 2652000000.0000 | 18.66 | 2794000000.0000 | 14.98 | 2297000000.0000 | 10.33 |
| 2009-12-31 | 24998000000.0000 | 3.18 | 4260000000.0000 | 42.62 | 4477000000.0000 | 37.92 | 3662000000.0000 | 36.64 |
| 2008-12-31 | 24228000000.0000 | 29.04 | 2987000000.0000 | -5.80 | 3246000000.0000 | -6.86 | 2680000000.0000 | -0.89 |
| 2009-03-31 | 5145000000.0000 | 11.48 | 497000000.0000 | 14.25 | 528000000.0000 | 9.32 | 420000000.0000 | -10.83 |
| 2009-06-30 | 11236000000.0000 | 10.18 | 1505000000.0000 | 6.29 | 1602000000.0000 | 2.96 | 1331000000.0000 | -2.49 |
| 2008-06-30 | 10198000000.0000 | 22.06 | 1416000000.0000 | 14.75 | 1556000000.0000 | 10.91 | 1365000000.0000 | 33.17 |
| 2008-03-31 | 4615000000.0000 | 27.45 | 435000000.0000 | 18.85 | 483000000.0000 | 15.83 | 471000000.0000 | 60.20 |
| 2008-09-30 | 16675000000.0000 | 28.55 | 2235000000.0000 | 12.88 | 2430000000.0000 | 9.12 | 2082000000.0000 | 25.88 |
| 2007-12-31 | 18776000000.0000 | 16.65 | 3171000000.0000 | 37.63 | 3485000000.0000 | 34.76 | 2704000000.0000 | 42.39 |
| 2007-09-30 | 12972000000.0000 | 12.66 | 1980000000.0000 | 37.21 | 2227000000.0000 | 33.83 | 1654000000.0000 | 37.60 |
| 2007-03-31 | 3621000000.0000 | 23.46 | 366000000.0000 | 22.41 | 417000000.0000 | 27.52 | 294000000.0000 | 33.64 |
| 2006-12-31 | 16096000000.0000 | 48.68 | 2304000000.0000 | 181.66 | 2586000000.0000 | 200.35 | 1899000000.0000 | 223.51 |
| 2007-06-30 | 8355000000.0000 | 11.36 | 1234000000.0000 | 35.16 | 1403000000.0000 | 33.62 | 1025000000.0000 | 35.58 |
| 2006-09-30 | 11514000000.0000 | 59.67 | 1443000000.0000 | 297.52 | 1664000000.0000 | 255.56 | 1202000000.0000 | 238.59 |
| 2006-03-31 | 2933000000.0000 | 54.78 | 299000000.0000 | 1985.06 | 327000000.0000 | 1437.53 | 220000000.0000 | 595.23 |
| 2006-06-30 | 7503000000.0000 | 65.52 | 913000000.0000 | 474.21 | 1050000000.0000 | 372.97 | 756000000.0000 | 304.28 |
| 2005-12-31 | 10826000000.0000 | 29.11 | 818000000.0000 | -53.58 | 861000000.0000 | -55.66 | 587000000.0000 | -59.55 |
| 2005-09-30 | 7211000000.0000 | 22.72 | 363000000.0000 | -77.50 | 468000000.0000 | -73.50 | 355000000.0000 | -72.98 |
| 2005-06-30 | 4533000000.0000 | 18.79 | 159000000.0000 | -88.64 | 222000000.0000 | -85.16 | 187000000.0000 | -83.23 |
| 2005-03-31 | 1895000000.0000 | 1.23 | 14340100.0000 | -98.18 | 21267900.0000 | -97.39 | 31644400.0000 | -94.91 |
| 2004-12-31 | 8385000000.0000 | 47.23 | 1762000000.0000 | 12.80 | 1942000000.0000 | 17.77 | 1451000000.0000 | 30.37 |
| 2004-06-30 | 3816000000.0000 | 79.07 | 1400000000.0000 | 212.50 | 1496000000.0000 | 215.61 | 1115000000.0000 | 255.10 |
| 2004-09-30 | 5876000000.0000 | 65.20 | 1613000000.0000 | 100.62 | 1766000000.0000 | 109.49 | 1314000000.0000 | 125.77 |
| 2004-03-31 | 1872000000.0000 | 112.24 | 786000000.0000 | 379.27 | 816000000.0000 | 350.83 | 622000000.0000 | 422.69 |
| 2003-09-30 | 3557000000.0000 | 78.47 | 804000000.0000 | 141.44 | 843000000.0000 | 142.24 | 582000000.0000 | 141.49 |
| 2003-12-31 | 5695000000.0000 | 89.83 | 1562000000.0000 | 204.48 | 1649000000.0000 | 203.13 | 1113000000.0000 | 200.00 |
| 2003-06-30 | 2131000000.0000 | 70.89 | 448000000.0000 | 115.38 | 474000000.0000 | 117.43 | 314000000.0000 | 119.58 |
| 2002-12-31 | 3000000000.0000 | 45.77 | 513000000.0000 | 76.90 | 544000000.0000 | 72.70 | 371000000.0000 | 40.53 |
| 2003-03-31 | 882000000.0000 | 57.22 | 164000000.0000 | 73.44 | 181000000.0000 | 86.63 | 119000000.0000 | 73.55 |
| 2002-06-30 | 1247000000.0000 | 37.64 | 208000000.0000 | 67.74 | 218000000.0000 | 65.15 | 143000000.0000 | 28.83 |
| 2002-09-30 | 1993000000.0000 | -- | 333000000.0000 | -- | 348000000.0000 | -- | 241000000.0000 | -- |
| 2002-03-31 | 561000000.0000 | -- | 94555400.0000 | -- | 96984800.0000 | -- | 68569600.0000 | -- |
| 2000-12-31 | 1238000000.0000 | 15.16 | 116000000.0000 | 231.73 | 132000000.0000 | 170.56 | 114000000.0000 | 187.27 |
| 2001-12-31 | 2058000000.0000 | 66.24 | 290000000.0000 | 150.00 | 315000000.0000 | 138.64 | 264000000.0000 | 131.58 |
| 2001-06-30 | 906000000.0000 | -- | 124000000.0000 | -- | 132000000.0000 | -- | 111000000.0000 | -- |
| 1999-12-31 | 1075000000.0000 | -- | 34968200.0000 | -- | 48787900.0000 | -- | 39684400.0000 | -- |
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 | 10.35 | 12.15 | 0.91 | 0.9600 | 1.8300 | 21.65 | 0.07 |
| 2024-12 | 9.88 | 11.02 | 3.94 | 4.1400 | 7.8300 | 22.28 | 0.36 |
| 2024-09 | 8.59 | 9.98 | 2.70 | 2.8000 | 5.7700 | 22.09 | 0.27 |
| 2024-06 | 8.34 | 9.63 | 1.80 | 1.7900 | 3.5800 | 22.33 | 0.19 |
| 2023-12 | 8.63 | 9.63 | 5.52 | 5.6500 | 10.8000 | 28.10 | 0.57 |
| 2024-03 | 7.46 | 8.98 | 0.78 | 0.8100 | 1.7200 | 21.14 | 0.09 |
| 2023-03 | 8.57 | 10.89 | 1.40 | 1.3800 | 2.3700 | 25.35 | 0.13 |
| 2023-09 | 10.11 | 11.53 | 4.63 | 4.7200 | 7.6900 | 25.17 | 0.40 |
| 2023-06 | 11.46 | 12.97 | 3.52 | 3.4800 | 4.7000 | 25.81 | 0.27 |
| 2022-09 | 17.32 | 19.15 | 6.99 | 6.8200 | 6.2700 | 45.51 | 0.37 |
| 2022-12 | 13.56 | 15.16 | 8.20 | 8.5000 | 9.6300 | 32.94 | 0.54 |
| 2021-12 | 23.82 | 26.26 | 19.13 | 19.2300 | 13.9900 | 93.75 | 0.73 |
| 2022-06 | 20.36 | 23.06 | 5.67 | 5.3000 | 3.8400 | 45.57 | 0.25 |
| 2022-03 | 23.27 | 26.23 | 2.89 | 2.6500 | 1.7400 | 43.48 | 0.11 |
| 2021-09 | 22.01 | 24.42 | 14.02 | 10.8200 | 10.8300 | 132.35 | 0.57 |
| 2021-03 | 20.22 | 22.66 | 3.84 | 3.5300 | 3.6400 | 123.71 | 0.17 |
| 2021-06 | 22.10 | 24.71 | 9.90 | 8.9300 | 7.3900 | 139.53 | 0.40 |
| 2020-09 | 24.21 | 26.76 | 16.88 | 17.1100 | 13.8900 | 117.26 | 0.63 |
| 2020-06 | 26.84 | 29.05 | 11.73 | 11.1800 | 8.3400 | 88.67 | 0.40 |
| 2020-12 | 24.21 | 26.74 | 23.35 | 23.6200 | 19.8600 | 142.29 | 0.87 |
| 2020-03 | 25.40 | 28.73 | 3.71 | 3.5100 | 2.3100 | 76.27 | 0.13 |
| 2019-12 | 26.55 | 28.37 | 24.92 | 27.0300 | 18.0700 | 125.44 | 0.88 |
| 2019-06 | 26.56 | 28.38 | 13.37 | 12.8400 | 7.4900 | 114.65 | 0.47 |
| 2019-03 | 24.44 | 26.32 | 5.27 | 5.2500 | 3.3700 | 101.41 | 0.20 |
| 2019-09 | 26.50 | 28.43 | 18.94 | 19.8200 | 12.0600 | 132.35 | 0.67 |
| 2018-09 | 33.38 | 35.31 | 19.82 | 21.4600 | 8.1600 | 95.24 | 0.56 |
| 2018-12 | 29.92 | 30.86 | 26.50 | 29.6600 | 15.1400 | 112.15 | 0.86 |
| 2018-06 | 35.68 | 37.57 | 13.82 | 13.6500 | 4.9900 | -- | 0.37 |
| 2018-03 | 31.33 | 33.63 | 5.07 | 5.2100 | 2.1400 | 71.86 | 0.15 |
| 2017-12 | 24.20 | 28.19 | 17.38 | 19.1200 | 10.5700 | 87.80 | 0.62 |
| 2017-03 | 16.14 | 21.61 | 2.65 | 2.7700 | 2.1300 | 92.78 | 0.12 |
| 2017-09 | 21.34 | 26.65 | 11.44 | 12.2600 | 7.0700 | 93.75 | 0.43 |
| 2017-06 | 21.42 | 28.85 | 8.12 | 8.4600 | 4.3200 | 99.17 | 0.28 |
| 2016-09 | 18.52 | 21.10 | 7.57 | 8.2400 | 6.3000 | 104.65 | 0.36 |
| 2016-12 | 18.51 | 20.83 | 10.64 | 11.5900 | 8.6000 | 103.75 | 0.51 |
| 2016-06 | 16.81 | 18.78 | 4.37 | 4.6700 | 3.9600 | 92.54 | 0.23 |
| 2016-03 | 10.75 | 14.41 | 1.42 | 1.6300 | 1.9300 | 89.33 | 0.10 |
| 2015-12 | 13.36 | 19.69 | 9.49 | 11.0300 | 8.5600 | 134.83 | 0.48 |
| 2015-03 | 15.49 | 19.16 | 2.07 | 2.5100 | 1.6600 | 126.76 | 0.11 |
| 2015-09 | 13.66 | 21.35 | 7.84 | 9.0500 | 6.3400 | 148.76 | 0.37 |
| 2015-06 | 14.68 | 25.77 | 5.93 | 6.9000 | 3.6700 | 139.00 | 0.23 |
| 2014-12 | 22.75 | 24.50 | 14.56 | 18.4700 | 9.9800 | 175.61 | 0.59 |
| 2014-09 | 23.56 | 25.34 | 11.29 | 13.8300 | 6.9900 | 155.84 | 0.45 |
| 2014-06 | 25.68 | 27.25 | 8.18 | 9.9200 | 4.3600 | 156.52 | 0.30 |
| 2014-03 | 24.83 | 26.36 | 3.52 | 4.3100 | 1.8700 | 134.83 | 0.13 |
| 2013-12 | 21.24 | 22.86 | 13.57 | 18.0500 | 9.5800 | 187.50 | 0.59 |
| 2013-09 | 17.85 | 19.71 | 8.26 | 10.6800 | 6.7100 | 232.26 | 0.42 |
| 2013-03 | 11.28 | 12.95 | 1.48 | 1.9700 | 1.8200 | 188.48 | 0.11 |
| 2013-06 | 15.44 | 17.22 | 4.73 | 6.1400 | 4.1800 | 204.55 | 0.27 |
| 2012-09 | 13.59 | 15.59 | 5.94 | 8.6200 | 5.5100 | 150.00 | 0.38 |
| 2012-06 | 15.21 | 17.70 | 4.44 | 6.3800 | 3.2700 | 141.18 | 0.25 |
| 2012-12 | 15.31 | 17.67 | 9.24 | 13.5000 | 7.8600 | 159.29 | 0.52 |
| 2011-09 | 32.98 | 34.81 | 15.32 | 23.3900 | 6.2300 | 100.84 | 0.44 |
| 2011-12 | 30.52 | 32.17 | 18.63 | 29.1000 | 8.5100 | 115.38 | 0.58 |
| 2012-03 | 14.71 | 18.58 | 2.01 | 2.7500 | 1.3800 | 118.03 | 0.11 |
| 2010-12 | 21.99 | 23.41 | 13.37 | 19.3900 | 10.0500 | 73.32 | 0.57 |
| 2011-03 | 30.34 | 32.32 | 4.73 | 6.0700 | 1.7900 | 79.30 | 0.15 |
| 2011-06 | 33.92 | 36.06 | 10.39 | 15.7700 | 4.0700 | 91.60 | 0.29 |
| 2010-09 | 16.54 | 18.30 | 7.34 | 10.4500 | 6.2500 | 72.87 | 0.40 |
| 2010-06 | 14.82 | 16.90 | 4.47 | 6.0900 | 3.9200 | 63.27 | 0.26 |
| 2010-03 | 13.56 | 16.64 | 2.00 | 2.7200 | 1.8500 | 60.20 | 0.12 |
| 2009-09 | 14.89 | 15.81 | 6.55 | 0.0000 | 6.6500 | 54.96 | 0.41 |
| 2009-12 | 16.98 | 17.91 | 9.50 | 13.1700 | 8.8400 | 56.25 | 0.53 |
| 2008-12 | 12.09 | 13.40 | 7.63 | 13.8100 | 10.6000 | 71.71 | 0.57 |
| 2009-03 | 9.54 | 10.26 | 1.27 | 0.0000 | 2.0400 | 48.00 | 0.12 |
| 2009-06 | 13.33 | 14.26 | 3.80 | 5.1000 | 4.0800 | 50.42 | 0.27 |
| 2008-06 | 13.70 | 15.26 | 3.72 | 9.0700 | 3.9700 | 82.95 | 0.24 |
| 2008-03 | 9.43 | 10.47 | 1.48 | -- | 2.0200 | 75.31 | 0.14 |
| 2008-09 | 13.26 | 14.57 | 5.95 | 0.0000 | 5.6000 | 76.60 | 0.41 |
| 2007-12 | 16.86 | 18.56 | 11.23 | 26.3900 | 9.1200 | 60.40 | 0.60 |
| 2007-09 | 15.25 | 17.17 | 8.04 | -- | 6.4000 | 45.63 | 0.47 |
| 2007-03 | 10.14 | 11.52 | 1.77 | -- | 1.9500 | 36.33 | 0.15 |
| 2006-12 | 14.57 | 16.07 | 11.27 | -- | 10.2900 | 53.65 | 0.70 |
| 2007-06 | 14.76 | 16.79 | 5.47 | 10.7200 | 4.2000 | 37.31 | 0.33 |
| 2006-09 | 12.42 | 14.45 | 7.78 | -- | 7.1600 | 44.23 | 0.54 |
| 2006-03 | 10.26 | 11.15 | 1.65 | -- | 1.9000 | 54.38 | 0.15 |
| 2006-06 | 12.12 | 13.99 | 5.17 | 8.3300 | 4.9400 | 67.16 | 0.37 |
| 2005-12 | 7.51 | 7.95 | 4.47 | 7.0000 | 9.0900 | 86.33 | 0.56 |
| 2005-09 | 5.35 | 6.49 | 2.58 | -- | 6.0100 | 63.49 | 0.40 |
| 2005-06 | 3.88 | 4.90 | 1.27 | 2.0000 | 3.8900 | 97.83 | 0.26 |
| 2005-03 | 1.00 | 1.12 | 0.13 | -- | 3.2500 | 78.95 | 0.12 |
| 2004-12 | 21.03 | 23.16 | 12.09 | 20.0000 | 8.4400 | 197.80 | 0.52 |
| 2004-06 | 36.56 | 39.20 | 10.14 | 16.1100 | 3.0900 | 246.58 | 0.26 |
| 2004-09 | 27.33 | 30.05 | 11.67 | -- | 5.6000 | 129.03 | 0.39 |
| 2004-03 | 41.83 | 43.59 | 6.00 | -- | 1.8100 | 129.96 | 0.14 |
| 2003-09 | 22.63 | 23.70 | 7.48 | -- | 6.0400 | 89.33 | 0.32 |
| 2003-12 | 27.36 | 28.96 | 12.37 | 20.0000 | 8.6900 | 106.51 | 0.43 |
| 2003-06 | 21.02 | 22.24 | 4.55 | 6.6500 | 3.4000 | 75.00 | 0.20 |
| 2002-12 | 17.20 | 18.13 | 6.11 | -- | 7.6100 | 46.88 | 0.34 |
| 2003-03 | 18.71 | 20.52 | 1.88 | -- | 1.6100 | 66.06 | 0.09 |
| 2002-06 | 16.52 | 17.48 | 2.95 | -- | 3.1400 | 37.82 | 0.17 |
| 2002-09 | 16.66 | 17.46 | 4.53 | -- | 4.8500 | 54.63 | 0.26 |
| 2002-03 | 16.93 | 17.29 | 1.40 | -- | 1.5200 | 40.40 | 0.08 |
| 2000-12 | 8.97 | 10.66 | 2.97 | -- | 4.7100 | -- | 0.28 |
| 2001-12 | 14.29 | 15.31 | 5.19 | 9.5000 | 7.1100 | 33.12 | 0.34 |
| 2001-06 | 14.24 | 14.57 | -- | -- | -- | -- | -- |
| 1999-12 | 2.88 | 4.54 | 1.13 | 3.0500 | 4.0600 | -- | 0.25 |
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 | 20.46 | 79.54 | 3.4800 | 3.0400 |
| 2024-12 | 21.31 | 78.69 | 3.2500 | 2.8800 |
| 2024-09 | 21.46 | 78.54 | 3.6900 | 3.2500 |
| 2024-06 | 19.50 | 80.50 | 3.3900 | 2.9100 |
| 2023-12 | 19.62 | 80.38 | 3.4100 | 2.9300 |
| 2024-03 | 18.77 | 81.23 | 3.7800 | 3.2600 |
| 2023-03 | 18.50 | 81.50 | 3.2400 | 2.7800 |
| 2023-09 | 20.42 | 79.58 | 3.3500 | 2.9000 |
| 2023-06 | 19.32 | 80.68 | 3.0700 | 2.6200 |
| 2022-09 | 18.84 | 81.16 | 3.0500 | 2.6600 |
| 2022-12 | 19.67 | 80.33 | 2.9800 | 2.5200 |
| 2021-12 | 16.79 | 83.21 | 3.7800 | 3.4200 |
| 2022-06 | 17.96 | 82.04 | 3.2500 | 2.8200 |
| 2022-03 | 14.94 | 85.06 | 4.4800 | 3.9900 |
| 2021-09 | 15.48 | 84.52 | 4.8700 | 4.3100 |
| 2021-03 | 14.50 | 85.50 | 5.4500 | 4.9500 |
| 2021-06 | 14.55 | 85.45 | 5.1400 | 4.5400 |
| 2020-09 | 19.86 | 80.14 | 3.6800 | 3.2800 |
| 2020-06 | 18.81 | 81.19 | 3.7900 | 3.4300 |
| 2020-12 | 16.47 | 83.53 | 4.6600 | 4.2100 |
| 2020-03 | 18.02 | 81.98 | 4.1700 | 3.7000 |
| 2019-12 | 20.39 | 79.61 | 3.5400 | 3.2200 |
| 2019-06 | 19.00 | 80.99 | 3.5500 | 3.1300 |
| 2019-03 | 19.48 | 80.52 | 3.4700 | 3.0600 |
| 2019-09 | 20.53 | 79.47 | 3.3300 | 2.9500 |
| 2018-09 | 22.75 | 77.25 | 2.5700 | 2.1700 |
| 2018-12 | 22.15 | 77.85 | 2.7600 | 2.4300 |
| 2018-06 | 20.41 | 79.59 | 2.6800 | 2.2900 |
| 2018-03 | 22.09 | 77.91 | 2.5800 | 2.2300 |
| 2017-12 | 24.71 | 75.29 | 2.1800 | 1.9000 |
| 2017-03 | 25.71 | 74.29 | 2.0400 | 1.6800 |
| 2017-09 | 26.35 | 73.65 | 1.9400 | 1.6300 |
| 2017-06 | 25.45 | 74.55 | 1.8700 | 1.5200 |
| 2016-09 | 26.57 | 73.43 | 1.9400 | 1.5200 |
| 2016-12 | 26.68 | 73.32 | 1.7200 | 1.3800 |
| 2016-06 | 27.18 | 72.82 | 1.6900 | 1.2400 |
| 2016-03 | 30.41 | 69.59 | 1.4200 | 1.1400 |
| 2015-12 | 30.13 | 69.87 | 1.2800 | 0.9900 |
| 2015-03 | 30.10 | 69.90 | 1.8900 | 1.3700 |
| 2015-09 | 30.66 | 69.34 | 1.1800 | 0.9000 |
| 2015-06 | 32.13 | 67.87 | 1.1400 | 0.8300 |
| 2014-12 | 31.92 | 68.08 | 1.7400 | 1.3200 |
| 2014-09 | 32.65 | 67.35 | 1.7800 | 1.3100 |
| 2014-06 | 33.87 | 66.13 | 1.7400 | 1.2300 |
| 2014-03 | 34.83 | 65.17 | 1.8100 | 1.2300 |
| 2013-12 | 36.88 | 63.12 | 1.6900 | 1.3300 |
| 2013-09 | 38.24 | 61.76 | 1.5900 | 1.2100 |
| 2013-03 | 40.17 | 59.83 | 1.5400 | 1.1500 |
| 2013-06 | 39.23 | 60.77 | 1.4800 | 1.0700 |
| 2012-09 | 42.78 | 57.22 | 1.0900 | 0.7700 |
| 2012-06 | 41.83 | 58.17 | 1.0700 | 0.7000 |
| 2012-12 | 41.53 | 58.47 | 1.5900 | 1.2000 |
| 2011-09 | 44.68 | 55.32 | 1.7800 | 1.4200 |
| 2011-12 | 44.24 | 55.76 | 1.5200 | 1.1900 |
| 2012-03 | 41.17 | 58.83 | 1.3000 | 0.9200 |
| 2010-12 | 41.02 | 58.98 | 1.0100 | 0.7300 |
| 2011-03 | 39.28 | 60.72 | 1.0900 | 0.7200 |
| 2011-06 | 45.95 | 54.05 | 1.7400 | 1.3900 |
| 2010-09 | 42.07 | 57.93 | 0.9300 | 0.6000 |
| 2010-06 | 42.43 | 57.57 | 0.9400 | 0.5600 |
| 2010-03 | 40.49 | 59.51 | 1.0500 | 0.6700 |
| 2009-09 | 35.41 | 64.59 | 0.9100 | 0.6300 |
| 2009-12 | 37.85 | 62.15 | 0.8400 | 0.5800 |
| 2008-12 | 40.59 | 59.41 | 1.2100 | 1.0000 |
| 2009-03 | 37.07 | 62.93 | 1.2100 | 0.9500 |
| 2009-06 | 37.00 | 63.00 | 1.0100 | 0.7300 |
| 2008-06 | 42.54 | 57.46 | 1.5700 | 1.1400 |
| 2008-03 | 63.50 | 36.50 | 0.6800 | 0.4900 |
| 2008-09 | 39.86 | 60.14 | 1.3100 | 0.9500 |
| 2007-12 | 62.80 | 37.20 | 0.7300 | 0.5300 |
| 2007-09 | 62.44 | 37.56 | 0.6800 | 0.3900 |
| 2007-03 | 62.29 | 37.71 | 0.6600 | 0.3700 |
| 2006-12 | 61.33 | 38.67 | 0.6200 | 0.3800 |
| 2007-06 | 62.04 | 37.96 | 0.6300 | 0.3400 |
| 2006-09 | 63.23 | 36.77 | 0.6600 | 0.3900 |
| 2006-03 | 65.13 | 34.86 | 0.5400 | 0.3000 |
| 2006-06 | 63.62 | 36.39 | 0.6000 | 0.3100 |
| 2005-12 | 64.38 | 35.62 | 0.4600 | 0.2800 |
| 2005-09 | 63.55 | 36.45 | 0.3900 | 0.1900 |
| 2005-06 | 63.19 | 36.81 | 0.3900 | 0.1700 |
| 2005-03 | 60.44 | 39.55 | 0.0500 | -0.0400 |
| 2004-12 | 58.69 | 41.31 | 0.5900 | 0.3700 |
| 2004-06 | 55.79 | 44.21 | 0.6500 | 0.4400 |
| 2004-09 | 56.76 | 43.23 | 0.5800 | 0.3600 |
| 2004-03 | 55.16 | 44.84 | 0.7100 | 0.5400 |
| 2003-09 | 59.51 | 40.49 | 0.3700 | 0.2600 |
| 2003-12 | 57.23 | 42.78 | 0.6500 | 0.5400 |
| 2003-06 | 58.31 | 41.69 | 0.3900 | 0.2500 |
| 2002-12 | 53.61 | 46.39 | 0.4000 | 0.2900 |
| 2003-03 | 57.05 | 42.95 | 0.3900 | 0.2700 |
| 2002-06 | 46.45 | 53.55 | 0.7400 | 0.5800 |
| 2002-09 | 47.63 | 52.38 | 0.5100 | 0.3700 |
| 2002-03 | 43.48 | 56.51 | 0.8300 | 0.6600 |
| 2000-12 | 45.23 | 54.77 | 0.6500 | 0.5200 |
| 2001-12 | 50.07 | 49.93 | 0.5900 | 0.4700 |
| 2001-06 | -- | -- | -- | -- |
| 1999-12 | 47.51 | 52.52 | 0.6100 | 0.4700 |
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 | 17080000000.0000 | 752000000.0000 | 1385000000.0000 | -176000000.0000 |
| 2024-12 | 82036000000.0000 | 3415000000.0000 | 5946000000.0000 | -1171000000.0000 |
| 2024-09 | 62298000000.0000 | 2333000000.0000 | 4289000000.0000 | -722000000.0000 |
| 2024-06 | 41764000000.0000 | 1564000000.0000 | 2702000000.0000 | -443000000.0000 |
| 2023-12 | 128979000000.0000 | 3426000000.0000 | 5668000000.0000 | -1121000000.0000 |
| 2024-03 | 19737000000.0000 | 718000000.0000 | 1346000000.0000 | -255000000.0000 |
| 2023-03 | 28713000000.0000 | 784000000.0000 | 1476000000.0000 | -284000000.0000 |
| 2023-09 | 89132000000.0000 | 2535000000.0000 | 4540000000.0000 | -1006000000.0000 |
| 2023-06 | 57995000000.0000 | 1628000000.0000 | 3143000000.0000 | -444000000.0000 |
| 2022-09 | 70551000000.0000 | 2318000000.0000 | 3824000000.0000 | -1441000000.0000 |
| 2022-12 | 114115000000.0000 | 3327000000.0000 | 5561000000.0000 | -1514000000.0000 |
| 2021-12 | 127953000000.0000 | 3408000000.0000 | 5080000000.0000 | -1315000000.0000 |
| 2022-06 | 44821000000.0000 | 1525000000.0000 | 2708000000.0000 | -914000000.0000 |
| 2022-03 | 19539000000.0000 | 679000000.0000 | 1288000000.0000 | -379000000.0000 |
| 2021-09 | 94921000000.0000 | 2492000000.0000 | 3290000000.0000 | -979000000.0000 |
| 2021-03 | 27478000000.0000 | 936000000.0000 | 1211000000.0000 | -241000000.0000 |
| 2021-06 | 62682000000.0000 | 1571000000.0000 | 2322000000.0000 | -539000000.0000 |
| 2020-09 | 94027000000.0000 | 2904000000.0000 | 2966000000.0000 | -1203000000.0000 |
| 2020-06 | 54146000000.0000 | 1792000000.0000 | 1773000000.0000 | -828000000.0000 |
| 2020-12 | 133616000000.0000 | 3508000000.0000 | 4217000000.0000 | -1498000000.0000 |
| 2020-03 | 17313000000.0000 | 777000000.0000 | 951000000.0000 | 237000000.0000 |
| 2019-12 | 115340000000.0000 | 4417000000.0000 | 4741000000.0000 | -1106000000.0000 |
| 2019-06 | 52613000000.0000 | 1983000000.0000 | 2165000000.0000 | -551000000.0000 |
| 2019-03 | 23047000000.0000 | 893000000.0000 | 994000000.0000 | -267000000.0000 |
| 2019-09 | 81406000000.0000 | 3137000000.0000 | 3340000000.0000 | -957000000.0000 |
| 2018-09 | 51824000000.0000 | 2659000000.0000 | 2695000000.0000 | -198000000.0000 |
| 2018-12 | 89979000000.0000 | 3733000000.0000 | 3752000000.0000 | -474000000.0000 |
| 2018-06 | 29423000000.0000 | 1669000000.0000 | 1591000000.0000 | -65547300.0000 |
| 2018-03 | 12887000000.0000 | 728000000.0000 | 746000000.0000 | 58954200.0000 |
| 2017-12 | 57082000000.0000 | 3572000000.0000 | 3417000000.0000 | 216000000.0000 |
| 2017-03 | 11438000000.0000 | 744000000.0000 | 728000000.0000 | 51657500.0000 |
| 2017-09 | 39362000000.0000 | 2484000000.0000 | 2200000000.0000 | 178000000.0000 |
| 2017-06 | 25072000000.0000 | 1592000000.0000 | 1345000000.0000 | 75398700.0000 |
| 2016-09 | 30922000000.0000 | 2315000000.0000 | 2241000000.0000 | 242000000.0000 |
| 2016-12 | 45577000000.0000 | 3276000000.0000 | 3144000000.0000 | 370000000.0000 |
| 2016-06 | 19942000000.0000 | 1505000000.0000 | 1441000000.0000 | 182000000.0000 |
| 2016-03 | 9467000000.0000 | 680000000.0000 | 705000000.0000 | 70677000.0000 |
| 2015-12 | 44165000000.0000 | 3105000000.0000 | 3178000000.0000 | 575000000.0000 |
| 2015-03 | 9490000000.0000 | 598000000.0000 | 668000000.0000 | 235000000.0000 |
| 2015-09 | 32781000000.0000 | 2124000000.0000 | 1943000000.0000 | 483000000.0000 |
| 2015-06 | 20667000000.0000 | 1370000000.0000 | 1314000000.0000 | 325000000.0000 |
| 2014-12 | 46935000000.0000 | 2937000000.0000 | 2680000000.0000 | 714000000.0000 |
| 2014-09 | 33386000000.0000 | 2003000000.0000 | 1747000000.0000 | 491000000.0000 |
| 2014-06 | 21392000000.0000 | 1319000000.0000 | 1081000000.0000 | 371000000.0000 |
| 2014-03 | 9494000000.0000 | 558000000.0000 | 549000000.0000 | 196000000.0000 |
| 2013-12 | 43524000000.0000 | 2685000000.0000 | 2396000000.0000 | 969000000.0000 |
| 2013-09 | 30401000000.0000 | 1873000000.0000 | 1546000000.0000 | 738000000.0000 |
| 2013-03 | 8789000000.0000 | 555000000.0000 | 485000000.0000 | 274000000.0000 |
| 2013-06 | 19946000000.0000 | 1209000000.0000 | 1001000000.0000 | 532000000.0000 |
| 2012-09 | 27866000000.0000 | 1563000000.0000 | 1400000000.0000 | 719000000.0000 |
| 2012-06 | 17432000000.0000 | 963000000.0000 | 890000000.0000 | 450000000.0000 |
| 2012-12 | 38757000000.0000 | 2280000000.0000 | 2173000000.0000 | 1002000000.0000 |
| 2011-09 | 23441000000.0000 | 1249000000.0000 | 1126000000.0000 | 435000000.0000 |
| 2011-12 | 33807000000.0000 | 1859000000.0000 | 1789000000.0000 | 646000000.0000 |
| 2012-03 | 7556000000.0000 | 402000000.0000 | 410000000.0000 | 209000000.0000 |
| 2010-12 | 26921000000.0000 | 1546000000.0000 | 1254000000.0000 | 481000000.0000 |
| 2011-03 | 6489000000.0000 | 359000000.0000 | 345000000.0000 | 131000000.0000 |
| 2011-06 | 14753000000.0000 | 801000000.0000 | 702000000.0000 | 287000000.0000 |
| 2010-09 | 18661000000.0000 | 1110000000.0000 | 731000000.0000 | 349000000.0000 |
| 2010-06 | 11813000000.0000 | 712000000.0000 | 443000000.0000 | 232000000.0000 |
| 2010-03 | 5247000000.0000 | 329000000.0000 | 185000000.0000 | 101000000.0000 |
| 2009-09 | 15037000000.0000 | 1066000000.0000 | 622000000.0000 | 286000000.0000 |
| 2009-12 | 20754000000.0000 | 1420000000.0000 | 976000000.0000 | 356000000.0000 |
| 2008-12 | 21298000000.0000 | 1366000000.0000 | 841000000.0000 | 756000000.0000 |
| 2009-03 | 4654000000.0000 | 333000000.0000 | 197000000.0000 | 90508600.0000 |
| 2009-06 | 9738000000.0000 | 704000000.0000 | 410000000.0000 | 184000000.0000 |
| 2008-06 | 8801000000.0000 | 634000000.0000 | 344000000.0000 | 432000000.0000 |
| 2008-03 | 4180000000.0000 | 306000000.0000 | 175000000.0000 | 223000000.0000 |
| 2008-09 | 14464000000.0000 | 986000000.0000 | 547000000.0000 | 607000000.0000 |
| 2007-12 | 15610000000.0000 | 1219000000.0000 | 721000000.0000 | 610000000.0000 |
| 2007-09 | 10994000000.0000 | 884000000.0000 | 471000000.0000 | 443000000.0000 |
| 2007-03 | 3254000000.0000 | 247000000.0000 | 125000000.0000 | 142000000.0000 |
| 2006-12 | 13751000000.0000 | 1091000000.0000 | 518000000.0000 | 523000000.0000 |
| 2007-06 | 7122000000.0000 | 579000000.0000 | 277000000.0000 | 301000000.0000 |
| 2006-09 | 10084000000.0000 | 800000000.0000 | 337000000.0000 | 375000000.0000 |
| 2006-03 | 2632000000.0000 | 242000000.0000 | 105000000.0000 | 130000000.0000 |
| 2006-06 | 6594000000.0000 | 502000000.0000 | 215000000.0000 | 245000000.0000 |
| 2005-12 | 10013000000.0000 | 833000000.0000 | 355000000.0000 | 445000000.0000 |
| 2005-09 | 6825000000.0000 | 562000000.0000 | 228000000.0000 | 308000000.0000 |
| 2005-06 | 4357000000.0000 | 335000000.0000 | 149000000.0000 | 202000000.0000 |
| 2005-03 | 1876000000.0000 | 134000000.0000 | 70091300.0000 | 89801100.0000 |
| 2004-12 | 6622000000.0000 | 444000000.0000 | 274000000.0000 | 271000000.0000 |
| 2004-06 | 2421000000.0000 | 159000000.0000 | 133000000.0000 | 116000000.0000 |
| 2004-09 | 4270000000.0000 | 287000000.0000 | 196000000.0000 | 187000000.0000 |
| 2004-03 | 1089000000.0000 | 71829700.0000 | 64194600.0000 | 54555800.0000 |
| 2003-09 | 2752000000.0000 | 210000000.0000 | 157000000.0000 | 134000000.0000 |
| 2003-12 | 4137000000.0000 | 303000000.0000 | 299000000.0000 | 188000000.0000 |
| 2003-06 | 1683000000.0000 | 137000000.0000 | 104000000.0000 | 83343200.0000 |
| 2002-12 | 2484000000.0000 | 217000000.0000 | 191000000.0000 | 95495000.0000 |
| 2003-03 | 717000000.0000 | 60168900.0000 | 51519900.0000 | 36847900.0000 |
| 2002-06 | 1041000000.0000 | 95344600.0000 | 71207000.0000 | 52570700.0000 |
| 2002-09 | 1661000000.0000 | 150000000.0000 | 109000000.0000 | 73126600.0000 |
| 2002-03 | 466000000.0000 | 46180000.0000 | 31070000.0000 | 26870500.0000 |
| 2000-12 | 1127000000.0000 | 159000000.0000 | 92748000.0000 | 95934100.0000 |
| 2001-12 | 1764000000.0000 | 195000000.0000 | 137000000.0000 | 113000000.0000 |
| 2001-06 | 777000000.0000 | 90206800.0000 | 59306600.0000 | 52414600.0000 |
| 1999-12 | 1044000000.0000 | 147000000.0000 | 88668200.0000 | 107000000.0000 |