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 | 708000000.0000 | 108.24 | 36203900.0000 | -367.96 | 37389400.0000 | -372.55 | 31246400.0000 | -339.56 |
| 2024-09-30 | 1065000000.0000 | -14.60 | -84287100.0000 | -227.57 | -78698100.0000 | -214.13 | -73241300.0000 | -226.25 |
| 2024-12-31 | 1726000000.0000 | -6.65 | -165000000.0000 | 276.66 | -159000000.0000 | 269.12 | -138000000.0000 | 283.43 |
| 2024-06-30 | 641000000.0000 | -24.23 | -41080000.0000 | -162.23 | -35884100.0000 | -152.38 | -31988000.0000 | -157.84 |
| 2023-12-31 | 1849000000.0000 | -4.94 | -43805600.0000 | -137.76 | -43075700.0000 | -137.46 | -35991200.0000 | -137.97 |
| 2024-03-31 | 340000000.0000 | -21.48 | -13510800.0000 | -137.61 | -13718200.0000 | -138.05 | -13043500.0000 | -144.57 |
| 2023-09-30 | 1247000000.0000 | -8.11 | 66069500.0000 | -3.61 | 68955500.0000 | 0.91 | 58011900.0000 | 2.42 |
| 2023-06-30 | 846000000.0000 | 4.32 | 66012200.0000 | 24.64 | 68508400.0000 | 28.90 | 55308900.0000 | 30.10 |
| 2022-12-31 | 1945000000.0000 | -15.18 | 116000000.0000 | -77.25 | 115000000.0000 | -77.50 | 94796400.0000 | -78.46 |
| 2023-03-31 | 433000000.0000 | 16.40 | 35918800.0000 | 116.44 | 36048900.0000 | 115.29 | 29264800.0000 | 131.61 |
| 2022-06-30 | 811000000.0000 | -31.96 | 52960800.0000 | -81.61 | 53147700.0000 | -81.61 | 42514000.0000 | -82.58 |
| 2022-09-30 | 1357000000.0000 | -21.56 | 68541600.0000 | -81.57 | 68332800.0000 | -81.73 | 56642200.0000 | -83.19 |
| 2022-03-31 | 372000000.0000 | -40.38 | 16595600.0000 | -89.82 | 16744100.0000 | -89.85 | 12635300.0000 | -90.97 |
| 2021-12-31 | 2293000000.0000 | -3.86 | 510000000.0000 | -7.44 | 511000000.0000 | -7.09 | 440000000.0000 | -3.72 |
| 2021-09-30 | 1730000000.0000 | 3.28 | 372000000.0000 | 2.20 | 374000000.0000 | 3.03 | 337000000.0000 | 9.77 |
| 2021-06-30 | 1192000000.0000 | 13.52 | 288000000.0000 | 37.80 | 289000000.0000 | 38.28 | 244000000.0000 | 38.64 |
| 2021-03-31 | 624000000.0000 | 61.24 | 163000000.0000 | 181.27 | 165000000.0000 | 188.09 | 140000000.0000 | 191.02 |
| 2020-09-30 | 1675000000.0000 | 69.02 | 364000000.0000 | 177.86 | 363000000.0000 | 179.23 | 307000000.0000 | 181.65 |
| 2020-12-31 | 2385000000.0000 | 66.67 | 551000000.0000 | 613.28 | 550000000.0000 | 620.69 | 457000000.0000 | 713.36 |
| 2020-06-30 | 1050000000.0000 | 65.09 | 209000000.0000 | 174.78 | 209000000.0000 | 174.78 | 176000000.0000 | 176.64 |
| 2020-03-31 | 387000000.0000 | 46.59 | 57951600.0000 | 136.55 | 57273600.0000 | 134.03 | 48107300.0000 | 134.74 |
| 2019-12-31 | 1431000000.0000 | 20.76 | 77248700.0000 | -48.16 | 76316000.0000 | -48.44 | 56186800.0000 | -55.76 |
| 2019-09-30 | 991000000.0000 | 25.76 | 131000000.0000 | 21.30 | 130000000.0000 | 20.37 | 109000000.0000 | 16.68 |
| 2019-06-30 | 636000000.0000 | 31.68 | 76061200.0000 | 14.88 | 76062100.0000 | 14.90 | 63621200.0000 | 10.28 |
| 2018-12-31 | 1185000000.0000 | 59.92 | 149000000.0000 | 40.57 | 148000000.0000 | 38.32 | 127000000.0000 | 40.03 |
| 2019-03-31 | 264000000.0000 | 21.66 | 24499100.0000 | -22.55 | 24473100.0000 | -22.56 | 20493900.0000 | -23.84 |
| 2018-09-30 | 788000000.0000 | 46.47 | 108000000.0000 | 43.87 | 108000000.0000 | 43.59 | 93416500.0000 | 46.82 |
| 2018-06-30 | 483000000.0000 | 33.80 | 66211500.0000 | 16.81 | 66196600.0000 | 16.74 | 57692400.0000 | 20.19 |
| 2018-03-31 | 217000000.0000 | 22.60 | 31631300.0000 | -11.06 | 31604200.0000 | -11.95 | 26907900.0000 | -11.55 |
| 2017-12-31 | 741000000.0000 | 17.81 | 106000000.0000 | -6.19 | 107000000.0000 | -6.14 | 90696100.0000 | -4.24 |
| 2017-09-30 | 538000000.0000 | 16.20 | 75068600.0000 | -17.16 | 75215200.0000 | -18.04 | 63624400.0000 | -7.48 |
| 2017-03-31 | 177000000.0000 | 28.26 | 35565000.0000 | 25.45 | 35893700.0000 | 26.00 | 30420700.0000 | 25.59 |
| 2017-06-30 | 361000000.0000 | 17.97 | 56683700.0000 | 13.12 | 56703200.0000 | 10.62 | 48000200.0000 | 26.74 |
| 2016-09-30 | 463000000.0000 | -- | 90618400.0000 | -- | 91769500.0000 | -- | 68767200.0000 | -- |
| 2016-12-31 | 629000000.0000 | -5.98 | 113000000.0000 | 45.11 | 114000000.0000 | 44.49 | 94713300.0000 | 62.05 |
| 2016-06-30 | 306000000.0000 | -17.52 | 50107200.0000 | 13.74 | 51258900.0000 | 14.54 | 37873800.0000 | 13.08 |
| 2015-12-31 | 669000000.0000 | -3.18 | 77870700.0000 | 58.76 | 78896900.0000 | 51.72 | 58445600.0000 | 54.24 |
| 2016-03-31 | 138000000.0000 | -- | 28349900.0000 | -- | 28487800.0000 | -- | 24221600.0000 | -- |
| 2014-12-31 | 691000000.0000 | 38.20 | 49049700.0000 | 225.91 | 52000800.0000 | 186.59 | 37892600.0000 | 167.40 |
| 2015-06-30 | 371000000.0000 | -- | 44053400.0000 | -- | 44752500.0000 | -- | 33493100.0000 | -- |
| 2013-12-31 | 500000000.0000 | -19.61 | 15049900.0000 | -66.78 | 18144500.0000 | -63.43 | 14171000.0000 | -65.58 |
| 2014-09-30 | 517000000.0000 | -- | 34263400.0000 | -- | 35390500.0000 | -- | 24972800.0000 | -- |
| 2012-12-31 | 622000000.0000 | -- | 45299800.0000 | -- | 49618700.0000 | -- | 41171900.0000 | -- |
| 2025-06-30 | 2073000000.0000 | 223.40 | 47717500.0000 | -216.16 | 49004200.0000 | -236.56 | 42171500.0000 | -231.84 |
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 | 4.80 | 5.28 | 0.80 | 0.9300 | 1.0100 | 4.05 | 0.15 |
| 2024-09 | -8.54 | -7.39 | -1.74 | -2.2000 | 1.6400 | 2.51 | 0.24 |
| 2024-12 | -9.44 | -9.21 | -3.46 | -4.2200 | 2.8600 | 2.83 | 0.38 |
| 2024-06 | -7.33 | -5.60 | -0.78 | -0.9600 | 1.0500 | 2.40 | 0.14 |
| 2023-12 | -4.38 | -2.33 | -0.87 | -1.0400 | 2.9300 | 3.23 | 0.37 |
| 2024-03 | -5.88 | -4.03 | -0.29 | -0.3800 | 0.5700 | 2.34 | 0.07 |
| 2023-09 | 4.57 | 5.53 | 1.45 | 1.7000 | 1.5700 | 3.15 | 0.26 |
| 2023-06 | 7.09 | 8.10 | 1.60 | 1.6100 | 1.0400 | 3.41 | 0.20 |
| 2022-12 | 4.01 | 5.91 | 2.67 | 2.8200 | 3.3800 | 4.32 | 0.45 |
| 2023-03 | 7.62 | 8.33 | 0.83 | 0.8600 | 0.5600 | 3.25 | 0.10 |
| 2022-06 | 4.81 | 6.55 | 1.33 | 1.2700 | 1.4400 | 4.39 | 0.20 |
| 2022-09 | 3.83 | 5.04 | 1.66 | 1.6900 | 2.5300 | 4.71 | 0.33 |
| 2022-03 | 3.49 | 4.50 | 0.43 | 0.3800 | 0.7600 | 4.29 | 0.10 |
| 2021-12 | 14.04 | 22.29 | 13.13 | 21.3900 | 3.7000 | 6.63 | 0.59 |
| 2021-09 | 19.54 | 21.62 | 9.33 | 20.2600 | 2.7100 | 7.16 | 0.43 |
| 2021-06 | 24.24 | 24.24 | 10.72 | 14.7900 | 1.6800 | 6.81 | 0.44 |
| 2021-03 | 26.12 | 26.44 | 6.10 | 8.7300 | 0.8300 | 7.34 | 0.23 |
| 2020-09 | 21.43 | 21.67 | 15.96 | 24.1400 | 2.5200 | 6.71 | 0.74 |
| 2020-12 | 20.08 | 23.06 | 20.46 | 34.4900 | 3.6800 | 7.16 | 0.89 |
| 2020-06 | 19.71 | 19.90 | 10.04 | 14.4300 | 1.7700 | 6.05 | 0.50 |
| 2020-03 | 14.47 | 14.80 | 2.83 | 4.2800 | 0.7100 | 4.71 | 0.19 |
| 2019-12 | 5.03 | 5.33 | 3.92 | 7.4100 | 2.8300 | 4.18 | 0.73 |
| 2019-09 | 12.82 | 13.12 | 6.80 | 9.7100 | 1.9200 | 3.48 | 0.52 |
| 2019-06 | 11.64 | 11.96 | 3.95 | 5.6500 | 1.3000 | 3.15 | 0.33 |
| 2018-12 | 12.07 | 12.49 | 8.34 | 11.8900 | 2.8400 | 4.44 | 0.67 |
| 2019-03 | 8.71 | 9.27 | 1.34 | 2.0600 | 0.5200 | 3.10 | 0.14 |
| 2018-09 | 13.32 | 13.71 | 7.80 | 9.0200 | 2.0500 | 4.61 | 0.57 |
| 2018-06 | 13.04 | 13.71 | 5.11 | 5.6300 | 1.3900 | 4.28 | 0.37 |
| 2018-03 | 14.29 | 14.56 | 2.43 | 2.6400 | 0.6000 | 4.30 | 0.17 |
| 2017-12 | 13.50 | 14.44 | 8.62 | 11.9300 | 2.4700 | 4.09 | 0.60 |
| 2017-09 | 13.57 | 13.98 | 6.43 | 9.3700 | 2.1200 | 4.32 | 0.46 |
| 2017-03 | 20.34 | 20.28 | 3.77 | 6.6800 | 0.6500 | 4.53 | 0.19 |
| 2017-06 | 14.96 | 15.71 | 4.72 | 8.9100 | 1.3900 | 4.21 | 0.30 |
| 2016-09 | 19.44 | 19.82 | -- | 17.9300 | -- | -- | -- |
| 2016-12 | 17.97 | 18.12 | 12.67 | 23.9400 | 2.3800 | 3.85 | 0.70 |
| 2016-06 | 16.34 | 16.75 | -- | 10.1500 | -- | -- | -- |
| 2015-12 | 11.66 | 11.79 | 9.61 | 17.6300 | 2.5200 | 4.13 | 0.81 |
| 2016-03 | 20.29 | 20.64 | -- | 6.5800 | -- | -- | -- |
| 2014-12 | 7.09 | 7.53 | 6.03 | 12.9700 | 2.4800 | 4.68 | 0.80 |
| 2015-06 | 11.86 | 12.06 | 5.22 | 10.3400 | 1.3400 | 4.41 | 0.43 |
| 2013-12 | 3.20 | 3.63 | 2.31 | 5.2900 | 2.0500 | 4.03 | 0.64 |
| 2014-09 | 6.58 | 6.85 | 4.24 | -- | 1.9700 | 4.63 | 0.62 |
| 2012-12 | 7.40 | 7.98 | 6.35 | 17.0300 | 2.8200 | 4.90 | 0.80 |
| 2025-06 | 2.12 | 2.36 | -- | -- | -- | -- | -- |
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 | 30.60 | 69.42 | 1.5700 | 0.9800 |
| 2024-09 | 27.44 | 72.56 | 1.6000 | 0.8800 |
| 2024-12 | 30.13 | 69.87 | 1.5100 | 0.9300 |
| 2024-06 | 28.03 | 71.97 | 1.6000 | 1.0000 |
| 2023-12 | 32.30 | 67.70 | 1.5000 | 1.1100 |
| 2024-03 | 30.58 | 69.42 | 1.5400 | 1.0500 |
| 2023-09 | 27.43 | 72.57 | 1.8200 | 1.1600 |
| 2023-06 | 20.03 | 80.00 | 2.7400 | 1.7000 |
| 2022-12 | 21.26 | 78.77 | 2.8700 | 2.0800 |
| 2023-03 | 20.78 | 79.22 | 2.7300 | 1.7800 |
| 2022-06 | 16.31 | 83.69 | 4.2300 | 3.2300 |
| 2022-09 | 18.37 | 81.63 | 3.4800 | 2.6100 |
| 2022-03 | 14.06 | 85.94 | 5.1500 | 4.1500 |
| 2021-12 | 14.26 | 85.72 | 5.1900 | 4.3600 |
| 2021-09 | 19.35 | 80.65 | 3.8600 | 3.2300 |
| 2021-06 | 36.60 | 63.40 | 1.6900 | 1.1600 |
| 2021-03 | 37.63 | 62.37 | 1.6800 | 1.1100 |
| 2020-09 | 38.68 | 61.32 | 1.8700 | 1.0900 |
| 2020-12 | 42.49 | 57.55 | 1.4600 | 0.9000 |
| 2020-06 | 37.27 | 62.73 | 1.8900 | 1.1500 |
| 2020-03 | 39.73 | 60.32 | 1.7900 | 1.0600 |
| 2019-12 | 39.82 | 60.24 | 1.7600 | 1.1500 |
| 2019-09 | 35.86 | 64.14 | 2.0000 | 1.2400 |
| 2019-06 | 38.62 | 61.38 | 1.8400 | 1.2000 |
| 2018-12 | 34.70 | 65.30 | 2.0400 | 1.2100 |
| 2019-03 | 35.34 | 64.66 | 1.9900 | 1.1500 |
| 2018-09 | 22.74 | 77.26 | 3.0000 | 1.5100 |
| 2018-06 | 20.14 | 79.86 | 3.2600 | 1.8100 |
| 2018-03 | 20.62 | 79.38 | 3.2500 | 1.5900 |
| 2017-12 | 19.16 | 80.92 | 3.5100 | 2.2800 |
| 2017-09 | 16.51 | 83.49 | 3.9300 | 1.7800 |
| 2017-03 | 51.84 | 48.16 | 1.2400 | 0.8100 |
| 2017-06 | 20.07 | 79.93 | 3.3200 | 1.4700 |
| 2016-09 | -- | -- | -- | -- |
| 2016-12 | 51.11 | 48.89 | 1.1200 | 0.7100 |
| 2016-06 | -- | -- | -- | -- |
| 2015-12 | 56.64 | 43.36 | 1.0000 | 0.6100 |
| 2016-03 | -- | -- | -- | -- |
| 2014-12 | 64.43 | 35.57 | 0.9400 | 0.5400 |
| 2015-06 | 61.42 | 38.58 | 0.9500 | 0.5800 |
| 2013-12 | 65.06 | 34.94 | 0.8900 | 0.4600 |
| 2014-09 | 64.67 | 35.21 | 0.9200 | 0.5500 |
| 2012-12 | 66.62 | 33.38 | 0.9500 | 0.5600 |
| 2025-06 | -- | -- | -- | -- |
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 | 674000000.0000 | 2679700.0000 | 27488600.0000 | 1422200.0000 |
| 2024-09 | 1156000000.0000 | 7180200.0000 | 60582100.0000 | 13586500.0000 |
| 2024-12 | 1889000000.0000 | 14386000.0000 | 84472000.0000 | 29863000.0000 |
| 2024-06 | 688000000.0000 | 4857400.0000 | 38704100.0000 | 13565100.0000 |
| 2023-12 | 1930000000.0000 | 12751500.0000 | 67785100.0000 | 11786100.0000 |
| 2024-03 | 360000000.0000 | 2180300.0000 | 17506900.0000 | 5498100.0000 |
| 2023-09 | 1190000000.0000 | 7648300.0000 | 44038700.0000 | -8811100.0000 |
| 2023-06 | 786000000.0000 | 4866100.0000 | 27319800.0000 | 2807100.0000 |
| 2022-12 | 1867000000.0000 | 9346800.0000 | 64035400.0000 | -5280900.0000 |
| 2023-03 | 400000000.0000 | 1925500.0000 | 13105900.0000 | -3660000.0000 |
| 2022-06 | 772000000.0000 | 3948300.0000 | 26619600.0000 | 836000.0000 |
| 2022-09 | 1305000000.0000 | 5867100.0000 | 42288800.0000 | -6138200.0000 |
| 2022-03 | 359000000.0000 | 1845600.0000 | 11966100.0000 | 2781500.0000 |
| 2021-12 | 1971000000.0000 | 12407500.0000 | 80319000.0000 | 29012500.0000 |
| 2021-09 | 1392000000.0000 | 11512300.0000 | 53886700.0000 | 22607500.0000 |
| 2021-06 | 903000000.0000 | 7532300.0000 | 33994000.0000 | 15445300.0000 |
| 2021-03 | 461000000.0000 | 2884000.0000 | 13557200.0000 | 7439400.0000 |
| 2020-09 | 1316000000.0000 | 61156000.0000 | 37688300.0000 | 13611500.0000 |
| 2020-12 | 1906000000.0000 | 13282400.0000 | 66496000.0000 | 25658200.0000 |
| 2020-06 | 843000000.0000 | 38060100.0000 | 24482100.0000 | 10207000.0000 |
| 2020-03 | 331000000.0000 | 15026200.0000 | 11243200.0000 | 2159800.0000 |
| 2019-12 | 1359000000.0000 | 62680300.0000 | 49196200.0000 | 15801400.0000 |
| 2019-09 | 864000000.0000 | 30360400.0000 | 31435300.0000 | 8563300.0000 |
| 2019-06 | 562000000.0000 | 16699700.0000 | 19358400.0000 | 8260200.0000 |
| 2018-12 | 1042000000.0000 | 61472800.0000 | 33872200.0000 | -3350400.0000 |
| 2019-03 | 241000000.0000 | 6406100.0000 | 8773300.0000 | 8100600.0000 |
| 2018-09 | 683000000.0000 | 45453800.0000 | 19912100.0000 | -5935700.0000 |
| 2018-06 | 420000000.0000 | 27549300.0000 | 13380400.0000 | 1415200.0000 |
| 2018-03 | 186000000.0000 | 14806600.0000 | 5864200.0000 | 3238200.0000 |
| 2017-12 | 641000000.0000 | 66624000.0000 | 26817800.0000 | 8002200.0000 |
| 2017-09 | 465000000.0000 | 51936300.0000 | 19688000.0000 | 5562100.0000 |
| 2017-03 | 141000000.0000 | 15039000.0000 | 9404600.0000 | 4206600.0000 |
| 2017-06 | 307000000.0000 | 35756500.0000 | 24534500.0000 | 4636400.0000 |
| 2016-09 | 373000000.0000 | 33002500.0000 | 28537700.0000 | 8086700.0000 |
| 2016-12 | 516000000.0000 | 50804600.0000 | 40647400.0000 | 12477400.0000 |
| 2016-06 | 256000000.0000 | 19399600.0000 | 19967500.0000 | 5996200.0000 |
| 2015-12 | 591000000.0000 | 41964200.0000 | 38666300.0000 | 19875600.0000 |
| 2016-03 | 110000000.0000 | 6205800.0000 | 9314600.0000 | 3174500.0000 |
| 2014-12 | 642000000.0000 | 43831800.0000 | 29481900.0000 | 30218700.0000 |
| 2015-06 | 327000000.0000 | 21245900.0000 | 17945200.0000 | 14326300.0000 |
| 2013-12 | 484000000.0000 | 28768600.0000 | 23786600.0000 | 24210600.0000 |
| 2014-09 | 483000000.0000 | 31735800.0000 | 25301200.0000 | 21399800.0000 |
| 2012-12 | 576000000.0000 | 13285300.0000 | 19727000.0000 | 16376400.0000 |
| 2025-06 | 2029000000.0000 | 5416300.0000 | 57898200.0000 | -4024000.0000 |