中商官网
研究报告
恒润股份（603985）
主要经济指标
| 类别\年份 | 营业收入 （元) |
营业利润 （元) |
利润总额 （元) |
净利润 （元) |
资产总计 （元) |
负债合计 （元) |
股东权益合计 （元) |
| 2012 | 622000000.0000 | 45299800.0000 | 49618700.0000 | 41171900.0000 | 782000000.0000 | 521000000.0000 | 261000000.0000 |
| 2013 | 500000000.0000 | 15049900.0000 | 18144500.0000 | 14171000.0000 | 787000000.0000 | 512000000.0000 | 275000000.0000 |
| 2014 | 691000000.0000 | 49049700.0000 | 52000800.0000 | 37892600.0000 | 863000000.0000 | 556000000.0000 | 307000000.0000 |
| 2015 | 669000000.0000 | 77870700.0000 | 78896900.0000 | 58445600.0000 | 821000000.0000 | 465000000.0000 | 356000000.0000 |
| 2016 | 629000000.0000 | 113000000.0000 | 114000000.0000 | 94713300.0000 | 900000000.0000 | 460000000.0000 | 440000000.0000 |
| 2017 | 741000000.0000 | 106000000.0000 | 107000000.0000 | 90696100.0000 | 1242000000.0000 | 238000000.0000 | 1005000000.0000 |
| 2018 | 1185000000.0000 | 149000000.0000 | 148000000.0000 | 127000000.0000 | 1775000000.0000 | 616000000.0000 | 1159000000.0000 |
| 2019 | 1431000000.0000 | 77248700.0000 | 76316000.0000 | 56186800.0000 | 1949000000.0000 | 776000000.0000 | 1174000000.0000 |
| 2020 | 2385000000.0000 | 551000000.0000 | 550000000.0000 | 457000000.0000 | 2688000000.0000 | 1142000000.0000 | 1547000000.0000 |
| 2021 | 2293000000.0000 | 510000000.0000 | 511000000.0000 | 440000000.0000 | 3893000000.0000 | 555000000.0000 | 3337000000.0000 |
| 2022 | 1945000000.0000 | 116000000.0000 | 115000000.0000 | 94796400.0000 | 4314000000.0000 | 917000000.0000 | 3398000000.0000 |
| 2023 | 1849000000.0000 | -43805600.0000 | -43075700.0000 | -35991200.0000 | 4948000000.0000 | 1598000000.0000 | 3350000000.0000 |
| 2024 | 1726000000.0000 | -165000000.0000 | -159000000.0000 | -138000000.0000 | 4597000000.0000 | 1385000000.0000 | 3212000000.0000 |
| 2025 | 3960000000.0000 | 95470200.0000 | 97104400.0000 | 85833700.0000 | -- | -- | -- |
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) |
| 2012 | 7.40 | 7.98 | 6.35 | 17.0300 | 2.8200 | 4.90 | 0.80 |
| 2013 | 3.20 | 3.63 | 2.31 | 5.2900 | 2.0500 | 4.03 | 0.64 |
| 2014 | 7.09 | 7.53 | 6.03 | 12.9700 | 2.4800 | 4.68 | 0.80 |
| 2015 | 11.66 | 11.79 | 9.61 | 17.6300 | 2.5200 | 4.13 | 0.81 |
| 2016 | 17.97 | 18.12 | 12.67 | 23.9400 | 2.3800 | 3.85 | 0.70 |
| 2017 | 13.50 | 14.44 | 8.62 | 11.9300 | 2.4700 | 4.09 | 0.60 |
| 2018 | 12.07 | 12.49 | 8.34 | 11.8900 | 2.8400 | 4.44 | 0.67 |
| 2019 | 5.03 | 5.33 | 3.92 | 7.4100 | 2.8300 | 4.18 | 0.73 |
| 2020 | 20.08 | 23.06 | 20.46 | 34.4900 | 3.6800 | 7.16 | 0.89 |
| 2021 | 14.04 | 22.29 | 13.13 | 21.3900 | 3.7000 | 6.63 | 0.59 |
| 2022 | 4.01 | 5.91 | 2.67 | 2.8200 | 3.3800 | 4.32 | 0.45 |
| 2023 | -4.38 | -2.33 | -0.87 | -1.0400 | 2.9300 | 3.23 | 0.37 |
| 2024 | -9.44 | -9.21 | -3.46 | -4.2200 | 2.8600 | 2.83 | 0.38 |
| 2025 | 2.27 | 2.45 | -- | -- | -- | -- | -- |
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 |
| 2012 | 66.62 | 33.38 | 0.9500 | 0.5600 |
| 2013 | 65.06 | 34.94 | 0.8900 | 0.4600 |
| 2014 | 64.43 | 35.57 | 0.9400 | 0.5400 |
| 2015 | 56.64 | 43.36 | 1.0000 | 0.6100 |
| 2016 | 51.11 | 48.89 | 1.1200 | 0.7100 |
| 2017 | 19.16 | 80.92 | 3.5100 | 2.2800 |
| 2018 | 34.70 | 65.30 | 2.0400 | 1.2100 |
| 2019 | 39.82 | 60.24 | 1.7600 | 1.1500 |
| 2020 | 42.49 | 57.55 | 1.4600 | 0.9000 |
| 2021 | 14.26 | 85.72 | 5.1900 | 4.3600 |
| 2022 | 21.26 | 78.77 | 2.8700 | 2.0800 |
| 2023 | 32.30 | 67.70 | 1.5000 | 1.1100 |
| 2024 | 30.13 | 69.87 | 1.5100 | 0.9300 |
| 2025 | -- | -- | -- | -- |
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) |
| 2012 | 576000000.0000 | 13285300.0000 | 19727000.0000 | 16376400.0000 |
| 2013 | 484000000.0000 | 28768600.0000 | 23786600.0000 | 24210600.0000 |
| 2014 | 642000000.0000 | 43831800.0000 | 29481900.0000 | 30218700.0000 |
| 2015 | 591000000.0000 | 41964200.0000 | 38666300.0000 | 19875600.0000 |
| 2016 | 516000000.0000 | 50804600.0000 | 40647400.0000 | 12477400.0000 |
| 2017 | 641000000.0000 | 66624000.0000 | 26817800.0000 | 8002200.0000 |
| 2018 | 1042000000.0000 | 61472800.0000 | 33872200.0000 | -3350400.0000 |
| 2019 | 1359000000.0000 | 62680300.0000 | 49196200.0000 | 15801400.0000 |
| 2020 | 1906000000.0000 | 13282400.0000 | 66496000.0000 | 25658200.0000 |
| 2021 | 1971000000.0000 | 12407500.0000 | 80319000.0000 | 29012500.0000 |
| 2022 | 1867000000.0000 | 9346800.0000 | 64035400.0000 | -5280900.0000 |
| 2023 | 1930000000.0000 | 12751500.0000 | 67785100.0000 | 11786100.0000 |
| 2024 | 1889000000.0000 | 14386000.0000 | 84472000.0000 | 29863000.0000 |
| 2025 | 3870000000.0000 | 16311200.0000 | 80450300.0000 | 30017200.0000 |