中商官网
研究报告
华润啤酒（HK0291）
主要经济指标
| 类别\年份 | 营业额 （元) |
营业利润 （元) |
利润总额 （元) |
净利润 （元) |
资产合计 （元) |
负债合计 （元) |
权益合计 （元) |
| 1999 | 12902299000.0000 | 3704304000.0000 | 2591812000.0000 | 1442839000.0000 | 23175189000.0000 | 8476870000.0000 | 14698319000.0000 |
| 2000 | 16810248000.0000 | 4193289000.0000 | 2717157000.0000 | 1656733000.0000 | 25401690000.0000 | 11753083000.0000 | 13648607000.0000 |
| 2001 | 24196490000.0000 | 4691802000.0000 | 1729680000.0000 | 1204807000.0000 | 26678951000.0000 | 11823724000.0000 | 14855227000.0000 |
| 2002 | 28822019000.0000 | 5708019000.0000 | 1944282000.0000 | 1404933000.0000 | 28169984000.0000 | 11941151000.0000 | 16228833000.0000 |
| 2003 | 34655172000.0000 | 6535169000.0000 | 1981067000.0000 | 1455177000.0000 | 31312622000.0000 | 14011287000.0000 | 17301335000.0000 |
| 2004 | 47078103000.0000 | 7760999000.0000 | 2056201000.0000 | 1480053000.0000 | 39390680000.0000 | 19454199000.0000 | 19936481000.0000 |
| 2005 | 53891000000.0000 | 9193000000.0000 | 3175000000.0000 | 2220000000.0000 | 45972000000.0000 | 23029000000.0000 | 22943000000.0000 |
| 2006 | 40337000000.0000 | 9936000000.0000 | 2861000000.0000 | 2776000000.0000 | 47754000000.0000 | 22789000000.0000 | 24965000000.0000 |
| 2007 | 51513000000.0000 | 12563000000.0000 | 3652000000.0000 | 4961000000.0000 | 60691000000.0000 | 30527000000.0000 | 30164000000.0000 |
| 2008 | 57220000000.0000 | 13978000000.0000 | 3247000000.0000 | 2322000000.0000 | 69857000000.0000 | 35359000000.0000 | 34498000000.0000 |
| 2009 | 64131000000.0000 | 16840000000.0000 | 4432000000.0000 | 2913000000.0000 | 75467000000.0000 | 40023000000.0000 | 35444000000.0000 |
| 2010 | 86728000000.0000 | 22324000000.0000 | 5012000000.0000 | 5674000000.0000 | 89402000000.0000 | 48113000000.0000 | 41289000000.0000 |
| 2011 | 110164000000.0000 | 27357000000.0000 | 5426000000.0000 | 3013000000.0000 | 113649000000.0000 | 63177000000.0000 | 50472000000.0000 |
| 2012 | 126236000000.0000 | 30401000000.0000 | 6653000000.0000 | 3945000000.0000 | 127488000000.0000 | 73704000000.0000 | 53784000000.0000 |
| 2013 | 146413000000.0000 | 37373000000.0000 | 5046000000.0000 | 1908000000.0000 | 155289000000.0000 | 95678000000.0000 | 59611000000.0000 |
| 2014 | 34482000000.0000 | 11952000000.0000 | 2285000000.0000 | -161000000.0000 | 181364000000.0000 | 111741000000.0000 | 69623000000.0000 |
| 2015 | 27959000000.0000 | 8687000000.0000 | 1723000000.0000 | -4118000000.0000 | 42768000000.0000 | 23448000000.0000 | 19320000000.0000 |
| 2016 | 28694000000.0000 | 9673000000.0000 | 1739000000.0000 | 629000000.0000 | 42630000000.0000 | 24963000000.0000 | 17667000000.0000 |
| 2017 | 29732000000.0000 | 10029000000.0000 | 1816000000.0000 | 1175000000.0000 | 40651000000.0000 | 22166000000.0000 | 18485000000.0000 |
| 2018 | 31867000000.0000 | 11198000000.0000 | 1532000000.0000 | 977000000.0000 | 39271000000.0000 | 20361000000.0000 | 18910000000.0000 |
| 2019 | 33190000000.0000 | 12226000000.0000 | 2202000000.0000 | 1312000000.0000 | 41591000000.0000 | 21864000000.0000 | 19727000000.0000 |
| 2020 | 31448000000.0000 | 12075000000.0000 | 3009000000.0000 | 2094000000.0000 | 43775000000.0000 | 22501000000.0000 | 21274000000.0000 |
| 2021 | 33387000000.0000 | 13074000000.0000 | 6215000000.0000 | 4587000000.0000 | 51053000000.0000 | 26564000000.0000 | 24489000000.0000 |
| 2022 | 35263000000.0000 | 13561000000.0000 | 5528000000.0000 | 4344000000.0000 | 57313000000.0000 | 30236000000.0000 | 27077000000.0000 |
| 2023 | 38932000000.0000 | 16103000000.0000 | 7078000000.0000 | 5153000000.0000 | 71524000000.0000 | 37350000000.0000 | 34174000000.0000 |
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) |
| 1999 | 28.71 | -- | 11.18 | 13.37 | 3.02 | -- | 0.56 |
| 2000 | 24.94 | -- | 10.70 | 15.4 | 7.20 | -- | 0.66 |
| 2001 | 19.39 | -- | 6.48 | 10.05 | 8.88 | -- | 0.91 |
| 2002 | 19.80 | -- | 6.90 | 10.86 | 6.82 | -- | 1.02 |
| 2003 | 18.86 | -- | 6.33 | 10.83 | 6.53 | -- | 1.11 |
| 2004 | 16.49 | -- | 5.22 | 9.79 | 7.76 | -- | 1.20 |
| 2005 | 17.06 | -- | 6.91 | 12.2 | 6.89 | -- | 1.17 |
| 2006 | 24.63 | -- | 5.99 | 14.5 | 4.52 | -- | 0.84 |
| 2007 | 24.39 | -- | 6.02 | 21.69 | 4.29 | -- | 0.85 |
| 2008 | 24.43 | -- | 4.65 | 9.23 | 3.76 | -- | 0.82 |
| 2009 | 26.26 | -- | 5.87 | 11.27 | 4.25 | -- | 0.85 |
| 2010 | 25.74 | -- | 5.61 | 18.41 | 4.12 | -- | 0.97 |
| 2011 | 24.83 | -- | 4.77 | 7.96 | 4.00 | -- | 0.97 |
| 2012 | 24.08 | -- | 5.22 | 9.68 | 4.51 | -- | 0.99 |
| 2013 | 25.53 | -- | 3.25 | 4.33 | 4.36 | -- | 0.94 |
| 2014 | 34.66 | -- | 1.26 | -0.33 | 0.81 | -- | 0.19 |
| 2015 | 31.07 | -- | 4.03 | -40.95 | 2.97 | -- | 0.65 |
| 2016 | 33.71 | -- | 4.08 | 3.57 | 3.11 | -- | 0.67 |
| 2017 | 33.73 | -- | 4.47 | 6.38 | 3.38 | -- | 0.73 |
| 2018 | 35.14 | -- | 3.90 | 5.18 | 3.84 | -- | 0.81 |
| 2019 | 36.84 | -- | 5.29 | 6.67 | 3.48 | -- | 0.80 |
| 2020 | 38.40 | -- | 6.87 | 9.87 | 3.22 | -- | 0.72 |
| 2021 | 39.16 | -- | 12.17 | 18.77 | 3.15 | -- | 0.65 |
| 2022 | 38.46 | -- | 9.65 | 16.07 | 2.93 | -- | 0.62 |
| 2023 | 41.36 | -- | 9.90 | 17.01 | 2.40 | -- | 0.54 |
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 |
| 1999 | 36.58 | 63.42 | -- | -- |
| 2000 | 46.27 | 53.73 | -- | -- |
| 2001 | 44.32 | 55.68 | -- | -- |
| 2002 | 42.39 | 57.61 | -- | -- |
| 2003 | 44.75 | 55.25 | -- | -- |
| 2004 | 49.39 | 50.61 | -- | -- |
| 2005 | 50.09 | 49.91 | -- | -- |
| 2006 | 47.72 | 52.28 | -- | -- |
| 2007 | 50.30 | 49.70 | -- | -- |
| 2008 | 50.62 | 49.38 | -- | -- |
| 2009 | 53.03 | 46.97 | -- | -- |
| 2010 | 53.82 | 46.18 | -- | -- |
| 2011 | 55.59 | 44.41 | -- | -- |
| 2012 | 57.81 | 42.19 | -- | -- |
| 2013 | 61.61 | 38.39 | -- | -- |
| 2014 | 61.61 | 38.39 | -- | -- |
| 2015 | 54.83 | 45.17 | -- | -- |
| 2016 | 58.56 | 41.44 | -- | -- |
| 2017 | 54.53 | 45.47 | -- | -- |
| 2018 | 51.85 | 48.15 | -- | -- |
| 2019 | 52.57 | 47.43 | -- | -- |
| 2020 | 51.40 | 48.60 | -- | -- |
| 2021 | 52.03 | 47.97 | -- | -- |
| 2022 | 52.76 | 47.24 | -- | -- |
| 2023 | 52.22 | 47.78 | -- | -- |
成本费用分析
| 类别\年份 | 销售成本 （元) |
销售费用 （元) |
管理费用 （元) |
财务费用 （元) |
| 1999 | 9197995000.0000 | -- | 734439000.0000 | 389785000.0000 |
| 2000 | 12616959000.0000 | -- | 1085521000.0000 | 391550000.0000 |
| 2001 | 19504688000.0000 | -- | 1194772000.0000 | 422668000.0000 |
| 2002 | 23114000000.0000 | -- | 1587121000.0000 | 312246000.0000 |
| 2003 | 28120003000.0000 | -- | 1714787000.0000 | 225461000.0000 |
| 2004 | 39317104000.0000 | -- | 2196739000.0000 | 330338000.0000 |
| 2005 | 44698000000.0000 | -- | 2153000000.0000 | 440000000.0000 |
| 2006 | 30401000000.0000 | -- | 2021000000.0000 | 386000000.0000 |
| 2007 | 38950000000.0000 | -- | 2419000000.0000 | 480000000.0000 |
| 2008 | 43242000000.0000 | -- | 2819000000.0000 | 491000000.0000 |
| 2009 | 47291000000.0000 | -- | 3505000000.0000 | 195000000.0000 |
| 2010 | 64404000000.0000 | -- | 4537000000.0000 | 175000000.0000 |
| 2011 | 82807000000.0000 | -- | 5190000000.0000 | 224000000.0000 |
| 2012 | 95835000000.0000 | -- | 6003000000.0000 | 361000000.0000 |
| 2013 | 109040000000.0000 | -- | 7131000000.0000 | 304000000.0000 |
| 2014 | 22530000000.0000 | -- | 3515000000.0000 | 188000000.0000 |
| 2015 | 19272000000.0000 | -- | 3003000000.0000 | 228000000.0000 |
| 2016 | 19021000000.0000 | -- | 3535000000.0000 | 89000000.0000 |
| 2017 | 19703000000.0000 | -- | 3976000000.0000 | 128000000.0000 |
| 2018 | 20669000000.0000 | -- | 5041000000.0000 | 48000000.0000 |
| 2019 | 20964000000.0000 | -- | -- | 70000000.0000 |
| 2020 | 19373000000.0000 | -- | -- | 211000000.0000 |
| 2021 | 20313000000.0000 | -- | -- | 19000000.0000 |
| 2022 | 21702000000.0000 | -- | -- | 79000000.0000 |
| 2023 | 22829000000.0000 | -- | -- | 244000000.0000 |