中商官网
研究报告
德宏股份（603701）
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 （%) |
| 2024-12-31 | 707000000.0000 | 9.10 | 60359600.0000 | 111.81 | 60371700.0000 | 111.35 | 56611000.0000 | 101.54 |
| 2025-03-31 | 188000000.0000 | 11.90 | 5816600.0000 | -36.21 | 7811500.0000 | -14.33 | 7054000.0000 | -17.78 |
| 2024-06-30 | 321000000.0000 | 9.56 | 20670400.0000 | 13.46 | 20670400.0000 | 11.00 | 18815400.0000 | 6.40 |
| 2024-09-30 | 487000000.0000 | 10.68 | 22050400.0000 | 12.13 | 22050800.0000 | 10.64 | 20068100.0000 | 6.46 |
| 2023-12-31 | 648000000.0000 | 31.71 | 28496500.0000 | 44.73 | 28565300.0000 | 45.33 | 28089900.0000 | 46.01 |
| 2024-03-31 | 168000000.0000 | 13.51 | 9118100.0000 | 18.84 | 9118100.0000 | 13.37 | 8579900.0000 | 16.20 |
| 2023-09-30 | 440000000.0000 | 23.25 | 19664600.0000 | 7.24 | 19929700.0000 | 8.95 | 18850800.0000 | 18.46 |
| 2023-06-30 | 293000000.0000 | 25.75 | 18218000.0000 | 18.09 | 18621700.0000 | 21.06 | 17683600.0000 | 23.24 |
| 2022-12-31 | 492000000.0000 | -17.03 | 19689800.0000 | -50.50 | 19654900.0000 | -50.64 | 19238200.0000 | -50.35 |
| 2023-03-31 | 148000000.0000 | 15.63 | 7672500.0000 | 19.71 | 8042900.0000 | 25.49 | 7383700.0000 | 18.60 |
| 2022-09-30 | 357000000.0000 | -20.67 | 18337500.0000 | -42.59 | 18291900.0000 | -42.71 | 15912800.0000 | -46.63 |
| 2022-06-30 | 233000000.0000 | -26.27 | 15427500.0000 | -41.44 | 15382000.0000 | -41.58 | 14349000.0000 | -41.32 |
| 2022-03-31 | 128000000.0000 | -20.50 | 6409300.0000 | -61.10 | 6409300.0000 | -61.08 | 6225900.0000 | -57.62 |
| 2021-12-31 | 593000000.0000 | -1.17 | 39778800.0000 | -46.26 | 39819900.0000 | -45.37 | 38749600.0000 | -39.10 |
| 2021-09-30 | 450000000.0000 | 5.39 | 31943300.0000 | -47.09 | 31927200.0000 | -46.23 | 29816900.0000 | -42.31 |
| 2020-12-31 | 600000000.0000 | 26.05 | 74019300.0000 | 13.24 | 72894300.0000 | 11.77 | 63626900.0000 | 10.20 |
| 2021-03-31 | 161000000.0000 | 82.30 | 16475400.0000 | 48.53 | 16469300.0000 | 63.19 | 14690100.0000 | 63.58 |
| 2021-06-30 | 316000000.0000 | 25.90 | 26346300.0000 | -26.66 | 26330200.0000 | -24.61 | 24452000.0000 | -19.00 |
| 2020-09-30 | 427000000.0000 | 27.08 | 60375100.0000 | 20.03 | 59375100.0000 | 18.39 | 51686000.0000 | 15.01 |
| 2020-06-30 | 251000000.0000 | 6.36 | 35924500.0000 | -6.71 | 34924500.0000 | -8.95 | 30188600.0000 | -11.61 |
| 2019-12-31 | 476000000.0000 | 3.70 | 65365500.0000 | -49.33 | 65215500.0000 | -49.45 | 57738700.0000 | -47.98 |
| 2020-03-31 | 88317100.0000 | -26.40 | 11092300.0000 | -38.95 | 10092300.0000 | -44.45 | 8980200.0000 | -43.42 |
| 2019-06-30 | 236000000.0000 | -2.07 | 38508900.0000 | -14.75 | 38358900.0000 | -15.09 | 34154500.0000 | -12.34 |
| 2019-09-30 | 336000000.0000 | -0.59 | 50300400.0000 | -57.01 | 50150400.0000 | -57.14 | 44939700.0000 | -55.51 |
| 2019-03-31 | 120000000.0000 | -1.64 | 18168200.0000 | -18.91 | 18168200.0000 | -18.91 | 15872100.0000 | -18.19 |
| 2018-09-30 | 338000000.0000 | -7.65 | 117000000.0000 | 68.14 | 117000000.0000 | 68.14 | 101000000.0000 | 70.34 |
| 2018-12-31 | 459000000.0000 | -9.82 | 129000000.0000 | 38.22 | 129000000.0000 | 38.40 | 111000000.0000 | 37.70 |
| 2018-06-30 | 241000000.0000 | -0.41 | 45173400.0000 | -5.35 | 45173400.0000 | -5.35 | 38961800.0000 | -3.75 |
| 2018-03-31 | 122000000.0000 | 1.67 | 22405500.0000 | 0.35 | 22405500.0000 | 0.35 | 19401400.0000 | 1.55 |
| 2017-09-30 | 366000000.0000 | 19.61 | 69583000.0000 | 16.77 | 69583000.0000 | 13.89 | 59294500.0000 | 13.87 |
| 2017-12-31 | 509000000.0000 | 22.36 | 93329000.0000 | 22.58 | 93206700.0000 | 18.29 | 80611300.0000 | 19.67 |
| 2017-06-30 | 242000000.0000 | 15.79 | 47726500.0000 | 19.49 | 47726500.0000 | 17.02 | 40480500.0000 | 16.09 |
| 2016-12-31 | 416000000.0000 | 1.71 | 76136900.0000 | 22.13 | 78792000.0000 | 22.26 | 67359000.0000 | 23.93 |
| 2017-03-31 | 120000000.0000 | 18.81 | 22328000.0000 | 29.02 | 22328000.0000 | 25.96 | 19105800.0000 | 25.07 |
| 2016-09-30 | 306000000.0000 | -2.55 | 59588400.0000 | 19.74 | 61095200.0000 | 18.72 | 52073900.0000 | 18.58 |
| 2016-06-30 | 209000000.0000 | -7.52 | 39940500.0000 | 17.92 | 40783700.0000 | 17.32 | 34868800.0000 | 16.90 |
| 2016-03-31 | 101000000.0000 | -8.18 | 17306100.0000 | 12.68 | 17726500.0000 | 10.16 | 15276300.0000 | 7.57 |
| 2015-09-30 | 314000000.0000 | -- | 49765200.0000 | -- | 51462600.0000 | -- | 43912900.0000 | -- |
| 2015-12-31 | 409000000.0000 | -1.92 | 62338900.0000 | 8.76 | 64447200.0000 | 8.60 | 54352200.0000 | 7.86 |
| 2015-03-31 | 110000000.0000 | -- | 15358800.0000 | -- | 16091100.0000 | -- | 14200800.0000 | -- |
| 2015-06-30 | 226000000.0000 | -- | 33869900.0000 | -- | 34762900.0000 | -- | 29827300.0000 | -- |
| 2014-12-31 | 417000000.0000 | 10.61 | 57315800.0000 | 16.03 | 59341600.0000 | 18.29 | 50391300.0000 | 16.31 |
| 2013-12-31 | 377000000.0000 | 14.59 | 49397400.0000 | 23.10 | 50166900.0000 | 20.41 | 43325300.0000 | 20.83 |
| 2012-12-31 | 329000000.0000 | -8.36 | 40128500.0000 | -9.53 | 41662200.0000 | -26.13 | 35855500.0000 | -25.91 |
| 2011-12-31 | 359000000.0000 | -- | 44355200.0000 | -- | 56398800.0000 | -- | 48396700.0000 | -- |
| 2025-06-30 | 414000000.0000 | 28.97 | 16914900.0000 | -18.17 | 18882300.0000 | -8.65 | 17050000.0000 | -9.38 |
| 2025-09-30 | 654000000.0000 | 34.29 | 18522400.0000 | -16.00 | 20489800.0000 | -7.08 | 20608000.0000 | 2.69 |
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) |
| 2024-12 | 1.41 | 8.54 | 4.71 | 5.9000 | 3.4100 | 2.77 | 0.55 |
| 2025-03 | 2.13 | 4.16 | 0.59 | 0.5900 | 0.8100 | 2.99 | 0.14 |
| 2024-06 | 0.62 | 6.44 | 1.83 | 2.0300 | 1.4900 | 2.58 | 0.28 |
| 2024-09 | 0.41 | 4.53 | 1.94 | 1.9200 | 2.3500 | 2.61 | 0.43 |
| 2023-12 | 2.78 | 4.41 | 2.51 | 2.6500 | 3.4200 | 2.97 | 0.57 |
| 2024-03 | 4.17 | 5.43 | 0.77 | 0.9300 | 0.7500 | 2.72 | 0.14 |
| 2023-09 | 2.95 | 4.53 | 1.92 | 1.9000 | 2.3600 | 3.13 | 0.42 |
| 2023-06 | 4.44 | 6.36 | 1.80 | 1.9900 | 1.6700 | 3.00 | 0.28 |
| 2022-12 | 2.85 | 3.99 | 1.94 | 1.4900 | 3.0600 | 2.92 | 0.48 |
| 2023-03 | 3.38 | 5.43 | 0.77 | 0.9000 | 0.8700 | 3.16 | 0.14 |
| 2022-09 | 3.64 | 5.12 | 1.85 | 1.6200 | 2.1900 | 3.14 | 0.36 |
| 2022-06 | 5.58 | 6.60 | 1.61 | 1.6800 | 1.4000 | 3.04 | 0.24 |
| 2022-03 | 4.69 | 5.01 | 0.64 | 0.7800 | 0.7300 | 2.86 | 0.13 |
| 2021-12 | 5.56 | 6.71 | 4.15 | 5.3200 | 4.0700 | 2.94 | 0.62 |
| 2021-09 | 6.22 | 7.09 | 3.37 | 4.1100 | 3.0600 | 2.70 | 0.48 |
| 2020-12 | 11.83 | 12.15 | 7.35 | 8.9600 | 4.6300 | 2.88 | 0.60 |
| 2021-03 | 9.32 | 10.23 | 1.67 | 2.0200 | 1.0600 | 2.66 | 0.16 |
| 2021-06 | 7.28 | 8.33 | 2.66 | 3.3700 | 2.1400 | 2.64 | 0.32 |
| 2020-09 | 13.35 | 13.91 | 6.22 | 7.2500 | 3.5300 | 2.67 | 0.45 |
| 2020-06 | 13.55 | 13.91 | 3.64 | 4.2200 | 2.0800 | 2.55 | 0.26 |
| 2019-12 | 10.92 | 13.70 | 6.68 | 8.3200 | 4.4200 | 2.92 | 0.49 |
| 2020-03 | 10.98 | 11.43 | 1.04 | 1.2700 | 0.7400 | 2.09 | 0.09 |
| 2019-06 | 12.71 | 16.25 | 4.34 | 4.7800 | 2.3400 | 2.74 | 0.27 |
| 2019-09 | 11.90 | 14.93 | 5.72 | 6.3900 | 3.5100 | 2.81 | 0.38 |
| 2019-03 | 12.50 | 15.14 | 1.92 | 2.2500 | 1.1700 | 2.90 | 0.13 |
| 2018-09 | 14.79 | 34.62 | 13.22 | 15.9400 | 3.1700 | 3.01 | 0.38 |
| 2018-12 | 12.85 | 28.10 | 14.18 | 17.2400 | 4.2600 | 3.00 | 0.50 |
| 2018-06 | 16.60 | 18.74 | 5.14 | 6.3900 | 2.4000 | 3.06 | 0.27 |
| 2018-03 | 16.39 | 18.37 | 2.66 | 3.2300 | 1.1200 | 2.97 | 0.15 |
| 2017-09 | 17.49 | 19.01 | 8.75 | 10.4900 | 3.3600 | 3.52 | 0.46 |
| 2017-12 | 16.70 | 18.31 | 10.97 | 14.1500 | 4.3700 | 3.62 | 0.60 |
| 2017-06 | 18.60 | 19.72 | 6.30 | 7.2000 | 2.1600 | 3.68 | 0.32 |
| 2016-12 | 18.03 | 18.94 | 10.62 | 15.0200 | 3.9300 | 3.53 | 0.56 |
| 2017-03 | 17.52 | 18.61 | 2.90 | 3.5500 | 0.9700 | 3.68 | 0.16 |
| 2016-09 | 19.28 | 19.97 | 8.56 | 12.3800 | 3.3000 | 3.50 | 0.43 |
| 2016-06 | 19.14 | 19.51 | 5.64 | 9.5000 | 2.3200 | 3.53 | 0.29 |
| 2016-03 | 16.65 | 17.55 | 3.69 | 5.3900 | 1.1100 | 3.44 | 0.21 |
| 2015-09 | 15.92 | 16.39 | 11.21 | 17.0700 | 3.5000 | 3.73 | 0.68 |
| 2015-12 | 15.16 | 15.76 | 13.65 | 20.9900 | 4.3800 | 3.71 | 0.87 |
| 2015-03 | 14.19 | 14.63 | -- | 5.5200 | -- | -- | -- |
| 2015-06 | 15.04 | 15.38 | -- | 11.7500 | -- | -- | -- |
| 2014-12 | 13.67 | 14.23 | 13.52 | 21.5000 | 4.6900 | 3.93 | 0.95 |
| 2013-12 | 13.00 | 13.31 | 12.03 | 20.6800 | 4.9000 | 3.72 | 0.90 |
| 2012-12 | 12.16 | 12.66 | 10.52 | 19.7700 | 4.2600 | 3.20 | 0.83 |
| 2011-12 | 12.26 | 15.71 | 15.00 | 32.3400 | 4.4500 | 3.31 | 0.95 |
| 2025-06 | 3.14 | 4.56 | 1.37 | 1.2300 | 1.8700 | 3.13 | 0.30 |
| 2025-09 | 2.45 | 3.13 | -- | -- | -- | -- | -- |
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 |
| 2024-12 | 34.92 | 65.00 | 1.9700 | 1.4700 |
| 2025-03 | 36.74 | 63.26 | 1.8900 | 1.2500 |
| 2024-06 | 29.59 | 70.41 | 2.3800 | 1.6900 |
| 2024-09 | 29.69 | 70.31 | 2.3000 | 1.6500 |
| 2023-12 | 30.61 | 69.39 | 2.3200 | 1.7000 |
| 2024-03 | 32.83 | 67.17 | 2.3000 | 1.6600 |
| 2023-09 | 24.93 | 75.07 | 2.8700 | 2.0200 |
| 2023-06 | 24.69 | 75.41 | 2.9200 | 2.1000 |
| 2022-12 | 24.73 | 75.27 | 2.6400 | 1.9300 |
| 2023-03 | 25.79 | 74.30 | 2.5700 | 1.9500 |
| 2022-09 | 22.90 | 77.10 | 2.9800 | 2.2000 |
| 2022-06 | 21.53 | 78.47 | 3.1900 | 2.2500 |
| 2022-03 | 24.02 | 75.98 | 2.8300 | 2.0100 |
| 2021-12 | 22.31 | 77.58 | 3.3600 | 2.5000 |
| 2021-09 | 22.30 | 77.70 | 3.3600 | 2.5100 |
| 2020-12 | 27.52 | 72.48 | 2.5900 | 1.7000 |
| 2021-03 | 25.71 | 74.29 | 2.8400 | 1.9500 |
| 2021-06 | 26.34 | 73.66 | 2.7700 | 2.1200 |
| 2020-09 | 24.92 | 74.97 | 2.7800 | 1.9600 |
| 2020-06 | 27.60 | 72.40 | 2.4200 | 1.5000 |
| 2019-12 | 27.77 | 72.23 | 2.4100 | 1.3600 |
| 2020-03 | 26.67 | 73.23 | 2.5200 | 1.2900 |
| 2019-06 | 24.01 | 75.99 | 3.0000 | 1.7900 |
| 2019-09 | 21.44 | 78.56 | 3.4100 | 1.7300 |
| 2019-03 | 24.47 | 75.53 | 3.0600 | 1.6300 |
| 2018-09 | 23.62 | 76.27 | 3.5600 | 1.8000 |
| 2018-12 | 23.52 | 76.48 | 3.2400 | 1.6100 |
| 2018-06 | 30.49 | 69.51 | 2.6400 | 1.3500 |
| 2018-03 | 27.11 | 72.89 | 3.0100 | 1.5900 |
| 2017-09 | 28.43 | 71.70 | 3.1300 | 1.7500 |
| 2017-12 | 30.24 | 69.65 | 2.6700 | 1.4400 |
| 2017-06 | 25.59 | 74.41 | 3.0600 | 1.5800 |
| 2016-12 | 26.42 | 73.72 | 3.0900 | 1.7300 |
| 2017-03 | 26.72 | 73.41 | 2.9300 | 1.6200 |
| 2016-09 | 25.63 | 74.37 | 3.3600 | 1.9200 |
| 2016-06 | 28.91 | 71.09 | 2.9000 | 1.7100 |
| 2016-03 | 38.96 | 61.04 | 1.7600 | 1.3000 |
| 2015-09 | 41.83 | 58.17 | 1.8300 | 1.4000 |
| 2015-12 | 41.31 | 58.90 | 1.7800 | 1.3300 |
| 2015-03 | -- | -- | -- | -- |
| 2015-06 | -- | -- | -- | -- |
| 2014-12 | 42.82 | 57.18 | 1.7200 | 1.2600 |
| 2013-12 | 45.32 | 54.44 | 2.0500 | 1.5300 |
| 2012-12 | 48.99 | 51.01 | 1.6000 | 1.2200 |
| 2011-12 | 52.66 | 47.07 | 1.6600 | 1.2200 |
| 2025-06 | 39.88 | 60.12 | 1.6900 | 1.1200 |
| 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) |
| 2024-12 | 697000000.0000 | 12421700.0000 | 42409400.0000 | 861800.0000 |
| 2025-03 | 184000000.0000 | 2914900.0000 | 10043300.0000 | 178100.0000 |
| 2024-06 | 319000000.0000 | 10286600.0000 | 21532700.0000 | -448300.0000 |
| 2024-09 | 485000000.0000 | 17011500.0000 | 32554700.0000 | -666900.0000 |
| 2023-12 | 630000000.0000 | 24593400.0000 | 44523400.0000 | -8800.0000 |
| 2024-03 | 161000000.0000 | 3391900.0000 | 11441900.0000 | -476000.0000 |
| 2023-09 | 427000000.0000 | 13649900.0000 | 32587600.0000 | -869300.0000 |
| 2023-06 | 280000000.0000 | 7133400.0000 | 20835600.0000 | -690700.0000 |
| 2022-12 | 478000000.0000 | 17143600.0000 | 41887500.0000 | -1085300.0000 |
| 2023-03 | 143000000.0000 | 5762200.0000 | 11348500.0000 | -394000.0000 |
| 2022-09 | 344000000.0000 | 12364000.0000 | 28746600.0000 | -4538800.0000 |
| 2022-06 | 220000000.0000 | 6702300.0000 | 19015200.0000 | -3851700.0000 |
| 2022-03 | 122000000.0000 | 4282100.0000 | 9665300.0000 | -102200.0000 |
| 2021-12 | 560000000.0000 | 21211900.0000 | 38013500.0000 | 174300.0000 |
| 2021-09 | 422000000.0000 | 15813700.0000 | 27863000.0000 | -599700.0000 |
| 2020-12 | 529000000.0000 | 16476800.0000 | 40967000.0000 | 674400.0000 |
| 2021-03 | 146000000.0000 | 4912800.0000 | 10201700.0000 | -241000.0000 |
| 2021-06 | 293000000.0000 | 8976800.0000 | 19405800.0000 | 111300.0000 |
| 2020-09 | 370000000.0000 | 19994100.0000 | 27141000.0000 | -486400.0000 |
| 2020-06 | 217000000.0000 | 10934600.0000 | 15999200.0000 | 391200.0000 |
| 2019-12 | 424000000.0000 | 22179000.0000 | 35428200.0000 | 396700.0000 |
| 2020-03 | 78620200.0000 | 3803200.0000 | 8078100.0000 | -233700.0000 |
| 2019-06 | 206000000.0000 | 9795900.0000 | 17803000.0000 | 212500.0000 |
| 2019-09 | 296000000.0000 | 15747900.0000 | 27377200.0000 | -1011100.0000 |
| 2019-03 | 105000000.0000 | 5036900.0000 | 9950400.0000 | -330200.0000 |
| 2018-09 | 288000000.0000 | 12594500.0000 | 25150800.0000 | -441200.0000 |
| 2018-12 | 400000000.0000 | 20653300.0000 | 39051000.0000 | 411700.0000 |
| 2018-06 | 201000000.0000 | 8737400.0000 | 17303800.0000 | 162200.0000 |
| 2018-03 | 102000000.0000 | 4408100.0000 | 8593700.0000 | 50200.0000 |
| 2017-09 | 302000000.0000 | 15894600.0000 | 23724200.0000 | -148200.0000 |
| 2017-12 | 424000000.0000 | 25154200.0000 | 35598000.0000 | 1283800.0000 |
| 2017-06 | 197000000.0000 | 12112600.0000 | 23133100.0000 | 232400.0000 |
| 2016-12 | 341000000.0000 | 21604500.0000 | 48408400.0000 | 845000.0000 |
| 2017-03 | 98979400.0000 | 5502400.0000 | 12188900.0000 | -129000.0000 |
| 2016-09 | 247000000.0000 | 14674100.0000 | 33218300.0000 | -1053300.0000 |
| 2016-06 | 169000000.0000 | 10669900.0000 | 23482500.0000 | 515300.0000 |
| 2016-03 | 84182700.0000 | 4676600.0000 | 11172800.0000 | -366400.0000 |
| 2015-09 | 264000000.0000 | 17406900.0000 | 32962600.0000 | 869600.0000 |
| 2015-12 | 347000000.0000 | 23436800.0000 | 46170400.0000 | 2153300.0000 |
| 2015-03 | 94392200.0000 | 6477700.0000 | 11873400.0000 | 241400.0000 |
| 2015-06 | 192000000.0000 | 12354800.0000 | 24222400.0000 | 1127600.0000 |
| 2014-12 | 360000000.0000 | 23485000.0000 | 42734700.0000 | 2856200.0000 |
| 2013-12 | 328000000.0000 | 18205200.0000 | 38675300.0000 | 3640600.0000 |
| 2012-12 | 289000000.0000 | 15998300.0000 | 37794200.0000 | 3299000.0000 |
| 2011-12 | 315000000.0000 | 15829300.0000 | 34095900.0000 | 4042300.0000 |
| 2025-06 | 401000000.0000 | 4873200.0000 | 21201100.0000 | 825100.0000 |
| 2025-09 | 638000000.0000 | 7885100.0000 | 35882700.0000 | 1998900.0000 |