中商官网
研究报告
激成投资（HK0184）
主要经济指标
| 类别\年份 | 营业额 （港元) |
营业额同比 （%) |
营业利润 （港元) |
营业利润同比 （%) |
利润总额 （港元) |
利润总额同比 （%) |
净利润 （港元) |
净利润同比 （%) |
| 202406 | 808981000.0000 | -2.71 | 734972000.0000 | -2.19 | 177792000.0000 | 95.44 | 87330000.0000 | 92.99 |
| 202312 | 1738354000.0000 | 21.61 | 1594889000.0000 | 22.99 | 341877000.0000 | 163.34 | 219656000.0000 | 187.88 |
| 202306 | 831541000.0000 | 41.63 | 751420000.0000 | 41.24 | 90970000.0000 | 241.76 | 45250000.0000 | 551.36 |
| 202212 | 1429488000.0000 | 196.04 | 1296748000.0000 | 195.49 | 129823000.0000 | -153.63 | 76302000.0000 | -139.18 |
| 202206 | 587109000.0000 | 148.92 | 532022000.0000 | 158.73 | 26618000.0000 | -119.78 | 6947000.0000 | -106.65 |
| 202112 | 482878000.0000 | -27.46 | 438846000.0000 | -23.82 | -242076000.0000 | -68.05 | -194724000.0000 | -65.39 |
| 202106 | 235866000.0000 | -45.01 | 205631000.0000 | -45.76 | -134597000.0000 | -30.99 | -104400000.0000 | -29.94 |
| 202012 | 665709000.0000 | -65.75 | 576078000.0000 | -66.93 | -757776000.0000 | -1780.70 | -562586000.0000 | -10299.17 |
| 202006 | 428916000.0000 | -53.18 | 379123000.0000 | -53.58 | -195037000.0000 | -244.27 | -149013000.0000 | -303.40 |
| 201912 | 1943399000.0000 | -3.91 | 1741955000.0000 | -3.42 | 45087000.0000 | -86.58 | 5516000.0000 | -97.19 |
| 201906 | 916123000.0000 | -7.13 | 816752000.0000 | -7.15 | 135185000.0000 | -17.84 | 73262000.0000 | -19.79 |
| 201812 | 2022401000.0000 | 3.74 | 1803702000.0000 | 2.98 | 335931000.0000 | 57.45 | 196579000.0000 | 50.05 |
| 201806 | 986448000.0000 | 6.64 | 879662000.0000 | 6.06 | 164543000.0000 | 895.66 | 91340000.0000 | 276.12 |
| 201712 | 1949497000.0000 | -0.29 | 1751466000.0000 | -1.03 | 213352000.0000 | -48.31 | 131005000.0000 | -41.86 |
| 201706 | 925036000.0000 | -3.35 | 829434000.0000 | -4.27 | 16526000.0000 | -88.75 | 24285000.0000 | -70.23 |
| 201612 | 1955211000.0000 | 0.81 | 1769614000.0000 | 0.33 | 412742000.0000 | -2.23 | 225345000.0000 | -1.58 |
| 201606 | 957130000.0000 | 0.70 | 866448000.0000 | 0.39 | 146961000.0000 | -36.38 | 81574000.0000 | -37.25 |
| 201512 | 1939567000.0000 | 27.68 | 1763766000.0000 | 29.70 | 422173000.0000 | -13.74 | 228972000.0000 | -14.61 |
| 201506 | 950466000.0000 | 39.50 | 863071000.0000 | 41.98 | 231003000.0000 | -20.10 | 129993000.0000 | -20.95 |
| 201412 | 1519090000.0000 | 11.92 | 1359838000.0000 | 11.90 | 489447000.0000 | -9.10 | 268143000.0000 | -17.81 |
| 201406 | 681315000.0000 | 14.21 | 607889000.0000 | 16.74 | 289129000.0000 | 35.30 | 164435000.0000 | 12.33 |
| 201312 | 1357329000.0000 | -0.48 | 1215261000.0000 | 1.07 | 538442000.0000 | -6.18 | 326231000.0000 | -8.26 |
| 201306 | 596559000.0000 | -18.65 | 520700000.0000 | -17.82 | 213700000.0000 | -31.81 | 146391000.0000 | -26.84 |
| 201212 | 1363943000.0000 | 15.38 | 1202432000.0000 | 15.42 | 573908000.0000 | 69.34 | 355585000.0000 | 138.21 |
| 201206 | 733296000.0000 | 31.26 | 633626000.0000 | 33.26 | 313400000.0000 | 70.67 | 200106000.0000 | 100.36 |
| 201112 | 1182136000.0000 | -0.53 | 1041808000.0000 | 0.12 | 338902000.0000 | -23.08 | 149274000.0000 | -44.87 |
| 201106 | 558669000.0000 | -6.06 | 475480000.0000 | -5.68 | 183632000.0000 | 1.95 | 99871000.0000 | -0.39 |
| 201012 | 1188469000.0000 | 33.47 | 1040595000.0000 | 36.59 | 440606000.0000 | 21.22 | 270751000.0000 | 6.64 |
| 201006 | 594739000.0000 | 77.11 | 504137000.0000 | 87.70 | 180123000.0000 | 30.20 | 100266000.0000 | -1.06 |
| 200912 | 890416000.0000 | 10.23 | 761812000.0000 | 10.15 | 363481000.0000 | 22.41 | 253881000.0000 | 37.05 |
| 200906 | 335806000.0000 | -20.21 | 268581000.0000 | -21.67 | 138340000.0000 | -44.84 | 101344000.0000 | -42.96 |
| 200812 | 807810000.0000 | 26.56 | 691613000.0000 | 25.78 | 296929000.0000 | -12.43 | 185250000.0000 | -21.29 |
| 200806 | 420836000.0000 | 35.93 | 342903000.0000 | 35.16 | 250814000.0000 | 56.34 | 177675000.0000 | 39.76 |
| 200712 | 638263000.0000 | 1.58 | 549859000.0000 | 3.17 | 339088000.0000 | 20.46 | 235355000.0000 | 15.92 |
| 200706 | 309591000.0000 | 25.36 | 253693000.0000 | 27.75 | 160425000.0000 | 111.55 | 127131000.0000 | 100.22 |
| 200612 | 628347000.0000 | 7.21 | 532943000.0000 | 7.87 | 281485000.0000 | 45.11 | 203031000.0000 | 65.93 |
| 200606 | 246964000.0000 | -25.29 | 198586000.0000 | -27.17 | 75833000.0000 | -45.67 | 63497000.0000 | -30.38 |
| 200512 | 586063000.0000 | 45.18 | 494079000.0000 | 53.45 | 193985000.0000 | 43.92 | 122363000.0000 | 25.57 |
| 200506 | 330546000.0000 | 80.22 | 272657000.0000 | 106.70 | 139582000.0000 | 238.62 | 91205000.0000 | 182.48 |
| 200412 | 403668000.0000 | 18.89 | 321988000.0000 | 64.58 | 134785000.0000 | 204.89 | 97446000.0000 | 196.55 |
| 200406 | 183415000.0000 | 264.72 | 131910000.0000 | 268.41 | 41221000.0000 | -363.16 | 32287000.0000 | -782.89 |
| 200312 | 339524000.0000 | 51.23 | 195646000.0000 | 63.75 | 44208000.0000 | 83.27 | 32860000.0000 | 16.05 |
| 200306 | 50289000.0000 | -57.12 | 35805000.0000 | -37.33 | -15664000.0000 | -187.27 | -4728000.0000 | -122.06 |
| 200212 | 224502000.0000 | -8.96 | 119481000.0000 | 12.68 | 24122000.0000 | 64.82 | 28315000.0000 | 3.74 |
| 200206 | 117273000.0000 | -5.21 | 57135000.0000 | 14.33 | 17948000.0000 | -1215.48 | 21431000.0000 | 160.18 |
| 200112 | 246589000.0000 | 135.23 | 106036000.0000 | 71.95 | 14635000.0000 | -140.51 | 27293000.0000 | 292.82 |
| 200106 | 123713000.0000 | 142.31 | 49975000.0000 | 59.54 | -1609000.0000 | -92.30 | 8237000.0000 | -322.20 |
| 200012 | 104829000.0000 | -71.74 | 61666000.0000 | -57.92 | -36124000.0000 | -177.19 | 6948000.0000 | -82.68 |
| 200006 | 51056000.0000 | -- | 31324000.0000 | -- | -20891000.0000 | -- | -3707000.0000 | -- |
| 199912 | 370947000.0000 | -- | 146551000.0000 | -- | 46796000.0000 | -- | 40107000.0000 | -- |
盈利能力分析
| 类别\年份 | 销售毛利率 （%) |
主营利润率 （%) |
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) |
| 202406 | 90.85 | -- | 3.17 | 2.76 | 0.26 | -- | 0.14 |
| 202312 | 91.75 | -- | 5.90 | 7.04 | 0.51 | -- | 0.30 |
| 202306 | 90.36 | -- | 1.61 | 1.53 | 0.28 | -- | 0.15 |
| 202212 | 90.71 | -- | 2.30 | 2.6 | 0.47 | -- | 0.25 |
| 202206 | 90.62 | -- | 0.48 | 0.24 | 0.19 | -- | 0.11 |
| 202112 | 90.88 | -- | -4.34 | -6.7 | 0.16 | -- | 0.09 |
| 202106 | 87.18 | -- | -2.39 | -3.48 | 0.11 | -- | 0.04 |
| 202012 | 86.54 | -- | -13.17 | -18.14 | 0.32 | -- | 0.12 |
| 202006 | 88.39 | -- | -3.03 | -4.26 | 0.17 | -- | 0.07 |
| 201912 | 89.63 | -- | 0.66 | 0.15 | 0.70 | -- | 0.28 |
| 201906 | 89.15 | -- | 1.97 | 1.94 | 0.35 | -- | 0.13 |
| 201812 | 89.19 | -- | 5.09 | 5.24 | 0.77 | -- | 0.31 |
| 201806 | 89.17 | -- | 2.56 | 2.49 | 0.37 | -- | 0.15 |
| 201712 | 89.84 | -- | 3.28 | 3.53 | 0.69 | -- | 0.30 |
| 201706 | 89.67 | -- | 0.25 | 0.67 | 0.33 | -- | 0.14 |
| 201612 | 90.51 | -- | 6.20 | 6.24 | 0.65 | -- | 0.29 |
| 201606 | 90.53 | -- | 2.24 | 2.33 | 0.32 | -- | 0.15 |
| 201512 | 90.94 | -- | 6.45 | 6.64 | 0.61 | -- | 0.30 |
| 201506 | 90.81 | -- | 3.56 | 3.87 | 0.30 | -- | 0.15 |
| 201412 | 89.52 | -- | 7.53 | 8.14 | 0.55 | -- | 0.23 |
| 201406 | 89.22 | -- | 6.30 | 5.09 | 0.26 | -- | 0.15 |
| 201312 | 89.53 | -- | 11.80 | 10.45 | 0.50 | -- | 0.30 |
| 201306 | 87.28 | -- | 4.96 | 4.95 | 0.26 | -- | 0.14 |
| 201212 | 88.16 | -- | 13.23 | 12.22 | 0.56 | -- | 0.31 |
| 201206 | 86.41 | -- | 6.76 | 7.26 | 0.35 | -- | 0.16 |
| 201112 | 88.13 | -- | 7.45 | 5.72 | 0.46 | -- | 0.26 |
| 201106 | 85.11 | -- | 4.31 | 3.91 | 0.27 | -- | 0.13 |
| 201012 | 87.56 | -- | 10.37 | 10.77 | 0.48 | -- | 0.28 |
| 201006 | 84.77 | -- | 4.51 | 4.34 | 0.29 | -- | 0.15 |
| 200912 | 85.56 | -- | 10.31 | 11.39 | 0.39 | -- | 0.25 |
| 200906 | 79.98 | -- | 4.71 | 4.86 | 0.20 | -- | 0.11 |
| 200812 | 85.62 | -- | 10.24 | 9.14 | 0.35 | -- | 0.28 |
| 200806 | 81.48 | -- | 8.56 | 8.71 | 0.23 | -- | 0.14 |
| 200712 | 86.15 | -- | 12.79 | 12.36 | 0.26 | -- | 0.24 |
| 200706 | 81.94 | -- | 6.38 | 7.05 | 0.17 | -- | 0.12 |
| 200612 | 84.82 | -- | 11.84 | 11.86 | 0.28 | -- | 0.26 |
| 200606 | 80.41 | -- | 3.30 | 3.97 | 0.14 | -- | 0.11 |
| 200512 | 84.30 | -- | 8.55 | 7.92 | 0.27 | -- | 0.26 |
| 200506 | 82.49 | -- | 6.00 | 6.02 | 0.18 | -- | 0.14 |
| 200412 | 79.77 | -- | 6.00 | 6.84 | 0.25 | -- | 0.18 |
| 200406 | 71.92 | -- | 1.90 | 2.36 | 0.15 | -- | 0.08 |
| 200312 | 57.62 | -- | 1.98 | 2.45 | 0.38 | -- | 0.15 |
| 200306 | 71.20 | -- | -0.73 | -0.36 | 0.03 | -- | 0.02 |
| 200212 | 53.22 | -- | 1.12 | 2.17 | 0.24 | -- | 0.10 |
| 200206 | 48.72 | -- | 0.84 | 1.65 | 0.13 | -- | 0.05 |
| 200112 | 43.00 | -- | 0.68 | 2.13 | 0.27 | -- | 0.11 |
| 200106 | 40.40 | -- | -0.07 | 0.66 | 0.13 | -- | 0.05 |
| 200012 | 58.83 | -- | -1.56 | 0.56 | 0.07 | -- | 0.05 |
| 200006 | 61.35 | -- | -- | -- | -- | -- | -- |
| 199912 | 39.51 | -- | 1.92 | 3.22 | 0.42 | -- | 0.15 |
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 |
| 202406 | 33.01 | 66.99 | -- | -- |
| 202312 | 35.48 | 64.52 | -- | -- |
| 202306 | 36.66 | 63.34 | -- | -- |
| 202212 | 36.96 | 63.04 | -- | -- |
| 202206 | 37.00 | 63.00 | -- | -- |
| 202112 | 36.61 | 63.39 | -- | -- |
| 202106 | 35.63 | 64.37 | -- | -- |
| 202012 | 35.09 | 64.91 | -- | -- |
| 202006 | 35.63 | 64.37 | -- | -- |
| 201912 | 35.93 | 64.07 | -- | -- |
| 201906 | 35.32 | 64.68 | -- | -- |
| 201812 | 33.07 | 66.93 | -- | -- |
| 201806 | 32.72 | 67.28 | -- | -- |
| 201712 | 32.43 | 67.57 | -- | -- |
| 201706 | 35.15 | 64.85 | -- | -- |
| 201612 | 35.88 | 64.12 | -- | -- |
| 201606 | 36.59 | 63.41 | -- | -- |
| 201512 | 37.32 | 62.68 | -- | -- |
| 201506 | 38.13 | 61.87 | -- | -- |
| 201412 | 39.54 | 60.46 | -- | -- |
| 201406 | 16.66 | 83.34 | -- | -- |
| 201312 | 18.45 | 81.55 | -- | -- |
| 201306 | 19.29 | 80.71 | -- | -- |
| 201212 | 20.75 | 79.25 | -- | -- |
| 201206 | 29.66 | 70.34 | -- | -- |
| 201112 | 32.28 | 67.72 | -- | -- |
| 201106 | 28.73 | 71.27 | -- | -- |
| 201012 | 28.99 | 71.01 | -- | -- |
| 201006 | 29.36 | 70.64 | -- | -- |
| 200912 | 22.73 | 77.27 | -- | -- |
| 200906 | 13.78 | 86.22 | -- | -- |
| 200812 | 15.02 | 84.98 | -- | -- |
| 200806 | 16.62 | 83.38 | -- | -- |
| 200712 | 14.69 | 85.31 | -- | -- |
| 200706 | 16.33 | 83.67 | -- | -- |
| 200612 | 16.03 | 83.97 | -- | -- |
| 200606 | 20.53 | 79.47 | -- | -- |
| 200512 | 21.76 | 78.24 | -- | -- |
| 200506 | 26.06 | 73.94 | -- | -- |
| 200412 | 28.28 | 71.72 | -- | -- |
| 200406 | 28.59 | 71.41 | -- | -- |
| 200312 | 31.84 | 68.16 | -- | -- |
| 200306 | 30.89 | 69.11 | -- | -- |
| 200212 | 30.55 | 69.45 | -- | -- |
| 200206 | 29.75 | 70.25 | -- | -- |
| 200112 | 31.06 | 68.94 | -- | -- |
| 200106 | 35.09 | 64.91 | -- | -- |
| 200012 | 35.76 | 64.24 | -- | -- |
| 200006 | -- | -- | -- | -- |
| 199912 | 37.20 | 62.80 | -- | -- |
成本费用分析
| 类别\年份 | 销售成本 （港元) |
销售费用 （港元) |
管理费用 （港元) |
财务费用 （港元) |
| 202406 | 74009000.0000 | -- | 60193000.0000 | 47647000.0000 |
| 202312 | 143465000.0000 | -- | 141334000.0000 | 98830000.0000 |
| 202306 | 80121000.0000 | -- | 74124000.0000 | 45080000.0000 |
| 202212 | 132740000.0000 | -- | 149291000.0000 | 50274000.0000 |
| 202206 | 55087000.0000 | -- | 79761000.0000 | 15800000.0000 |
| 202112 | 44032000.0000 | -- | 154428000.0000 | 32293000.0000 |
| 202106 | 30235000.0000 | -- | 78459000.0000 | 16599000.0000 |
| 202012 | 89631000.0000 | -- | 164341000.0000 | 43520000.0000 |
| 202006 | 49793000.0000 | -- | 82357000.0000 | 24230000.0000 |
| 201912 | 201444000.0000 | -- | 166809000.0000 | 59749000.0000 |
| 201906 | 99371000.0000 | -- | 79027000.0000 | 30890000.0000 |
| 201812 | 218699000.0000 | -- | 145844000.0000 | 55093000.0000 |
| 201806 | 106786000.0000 | -- | 75198000.0000 | 25288000.0000 |
| 201712 | 198031000.0000 | -- | 142925000.0000 | 47395000.0000 |
| 201706 | 95602000.0000 | -- | 70655000.0000 | 23410000.0000 |
| 201612 | 185597000.0000 | -- | 134877000.0000 | 39569000.0000 |
| 201606 | 90682000.0000 | -- | 66523000.0000 | 16522000.0000 |
| 201512 | 175801000.0000 | -- | 130112000.0000 | 34105000.0000 |
| 201506 | 87395000.0000 | -- | 66386000.0000 | 16093000.0000 |
| 201412 | 159252000.0000 | -- | 99302000.0000 | 9480000.0000 |
| 201406 | 73426000.0000 | -- | 43349000.0000 | 2179000.0000 |
| 201312 | 142068000.0000 | -- | 97138000.0000 | 6535000.0000 |
| 201306 | 75859000.0000 | -- | 47719000.0000 | 3210000.0000 |
| 201212 | 161511000.0000 | -- | 94186000.0000 | 14732000.0000 |
| 201206 | 99670000.0000 | -- | 48524000.0000 | 6643000.0000 |
| 201112 | 140328000.0000 | -- | 88690000.0000 | 10665000.0000 |
| 201106 | 83189000.0000 | -- | 41574000.0000 | 4840000.0000 |
| 201012 | 147874000.0000 | -- | 83563000.0000 | 13792000.0000 |
| 201006 | 90602000.0000 | -- | 42642000.0000 | 5941000.0000 |
| 200912 | 128604000.0000 | -- | 74980000.0000 | 1536000.0000 |
| 200906 | 67225000.0000 | -- | 35918000.0000 | 44000.0000 |
| 200812 | 116197000.0000 | -- | 71381000.0000 | 380000.0000 |
| 200806 | 77933000.0000 | -- | 32476000.0000 | 240000.0000 |
| 200712 | 88404000.0000 | -- | 80235000.0000 | 1261000.0000 |
| 200706 | 55898000.0000 | -- | 48069000.0000 | 689000.0000 |
| 200612 | 95404000.0000 | -- | 91782000.0000 | 8120000.0000 |
| 200606 | 48378000.0000 | -- | 45992000.0000 | 4463000.0000 |
| 200512 | 91984000.0000 | -- | 89896000.0000 | 10328000.0000 |
| 200506 | 57889000.0000 | -- | 50448000.0000 | 4935000.0000 |
| 200412 | 81680000.0000 | -- | 94411000.0000 | 8139000.0000 |
| 200406 | 51505000.0000 | -- | 46744000.0000 | 3590000.0000 |
| 200312 | 143878000.0000 | -- | 77843000.0000 | 8467000.0000 |
| 200306 | 14484000.0000 | -- | -- | 5748000.0000 |
| 200212 | 105021000.0000 | -- | -- | 10795000.0000 |
| 200206 | 60138000.0000 | -- | -- | 5383000.0000 |
| 200112 | 140553000.0000 | -- | -- | 20707000.0000 |
| 200106 | 73738000.0000 | -- | -- | 11849000.0000 |
| 200012 | 43163000.0000 | -- | -- | 29751000.0000 |
| 200006 | 19732000.0000 | -- | -- | 17265000.0000 |
| 199912 | 224396000.0000 | -- | -- | 24319000.0000 |