中商官网
研究报告
国美零售（HK0493）
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) |
| 2004 | 9715903000.0000 | 953173000.0000 | 625155000.0000 | 374089000.0000 | 5113768000.0000 | 3742812000.0000 | 1370956000.0000 |
| 2005 | 17959258000.0000 | 1651780000.0000 | 868764000.0000 | 498596000.0000 | 9367894000.0000 | 7496600000.0000 | 1871294000.0000 |
| 2006 | 24729192000.0000 | 2359747000.0000 | 1068222000.0000 | 819167000.0000 | 21176229000.0000 | 15935840000.0000 | 5240389000.0000 |
| 2007 | 42478523000.0000 | 4095247000.0000 | 1528097000.0000 | 1127307000.0000 | 29837493000.0000 | 19444825000.0000 | 10392668000.0000 |
| 2008 | 45889257000.0000 | 4508034000.0000 | 1533849000.0000 | 1048160000.0000 | 27495104000.0000 | 18795069000.0000 | 8700035000.0000 |
| 2009 | 42667572000.0000 | 4259530000.0000 | 1832509000.0000 | 1409288000.0000 | 35763180000.0000 | 23960715000.0000 | 11802465000.0000 |
| 2010 | 50910145000.0000 | 5918790000.0000 | 2509532000.0000 | 1961654000.0000 | 36217262000.0000 | 21482075000.0000 | 14735187000.0000 |
| 2011 | 59820789000.0000 | 7556530000.0000 | 2474500000.0000 | 1839867000.0000 | 37227468000.0000 | 21309174000.0000 | 15918294000.0000 |
| 2012 | 51097100000.0000 | 6820611000.0000 | -759015000.0000 | -728498000.0000 | 37712723000.0000 | 23043141000.0000 | 14669582000.0000 |
| 2013 | 56400662000.0000 | 8502122000.0000 | 1194675000.0000 | 892475000.0000 | 39323985000.0000 | 24006527000.0000 | 15317458000.0000 |
| 2014 | 60359843000.0000 | 8994242000.0000 | 1580144000.0000 | 1279770000.0000 | 44076673000.0000 | 28042155000.0000 | 16034518000.0000 |
| 2015 | 64595127000.0000 | 9513089000.0000 | 1576751000.0000 | 1207963000.0000 | 41587785000.0000 | 24899423000.0000 | 16688362000.0000 |
| 2016 | 76695025000.0000 | 10376809000.0000 | 158493000.0000 | 325139000.0000 | 61802129000.0000 | 40826902000.0000 | 20975227000.0000 |
| 2017 | 71574873000.0000 | 11054923000.0000 | -798861000.0000 | -449895000.0000 | 63224019000.0000 | 45697793000.0000 | 17526226000.0000 |
| 2018 | 64356031000.0000 | 9739316000.0000 | -5413737000.0000 | -4886895000.0000 | 60741791000.0000 | 49658027000.0000 | 11083764000.0000 |
| 2019 | 59482827000.0000 | 9110548000.0000 | -2896357000.0000 | -2589826000.0000 | 71871973000.0000 | 63710921000.0000 | 8161052000.0000 |
| 2020 | 44119113000.0000 | 4550384000.0000 | -7168857000.0000 | -6993816000.0000 | 70494181000.0000 | 69226535000.0000 | 1267646000.0000 |
| 2021 | 46483804000.0000 | 5506910000.0000 | -4728495000.0000 | -4402037000.0000 | 80922859000.0000 | 63337977000.0000 | 17584882000.0000 |
| 2022 | 17444480000.0000 | 1819383000.0000 | -20285497000.0000 | -19955982000.0000 | 42584449000.0000 | 42091143000.0000 | 493306000.0000 |
| 2023 | 646904000.0000 | 174237000.0000 | -10082602000.0000 | -10057243000.0000 | 29977652000.0000 | 39237174000.0000 | -9259522000.0000 |
| 2024 | 473816000.0000 | 73679000.0000 | -11830055000.0000 | -11629391000.0000 | 21129353000.0000 | 41750053000.0000 | -20620700000.0000 |
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) |
| 2004 | 9.81 | 6.4300 | 12.22 | 32.8800 | 7.90 | -- | 1.90 |
| 2005 | 9.20 | 4.8400 | 9.27 | 33.0000 | 5.98 | -- | 1.92 |
| 2006 | 9.54 | 4.3200 | 5.04 | 15.9000 | 4.58 | -- | 1.17 |
| 2007 | 9.64 | 3.6000 | 5.12 | 10.9400 | 7.13 | -- | 1.42 |
| 2008 | 9.82 | 3.3400 | 5.58 | 12.2500 | 7.56 | -- | 1.67 |
| 2009 | 9.98 | 4.2900 | 5.12 | 11.9400 | 5.88 | -- | 1.19 |
| 2010 | 11.63 | 4.9300 | 6.93 | 13.3100 | 5.56 | -- | 1.41 |
| 2011 | 12.63 | 4.1400 | 6.65 | 11.5400 | 5.43 | -- | 1.61 |
| 2012 | 13.35 | -1.4900 | -2.01 | -4.8400 | 5.69 | -- | 1.35 |
| 2013 | 15.07 | 2.1200 | 3.04 | 5.6000 | 5.83 | -- | 1.43 |
| 2014 | 14.90 | 2.6200 | 3.58 | 7.5700 | 4.70 | -- | 1.37 |
| 2015 | 14.73 | 2.4400 | 3.79 | 6.7800 | 5.41 | -- | 1.55 |
| 2016 | 13.53 | 0.2100 | 0.26 | 1.4500 | 5.71 | -- | 1.24 |
| 2017 | 15.45 | -1.0900 | -1.26 | -2.2600 | 5.38 | -- | 1.13 |
| 2018 | 15.13 | -8.0800 | -8.91 | -34.7100 | 6.64 | -- | 1.06 |
| 2019 | 15.32 | -4.6900 | -4.03 | -22.3300 | 6.55 | -- | 0.83 |
| 2020 | 10.31 | -16.2300 | -10.17 | -142.2600 | 4.73 | -- | 0.63 |
| 2021 | 11.85 | -10.1400 | -5.84 | -20.3800 | 5.86 | -- | 0.57 |
| 2022 | 10.43 | -115.7700 | -47.64 | -418.9600 | 13.89 | -- | 0.41 |
| 2023 | 26.93 | -1552.6300 | -33.63 | 202.9400 | 0.53 | -- | 0.02 |
| 2024 | 15.55 | -2492.1400 | -55.99 | 71.5900 | 3.34 | -- | 0.02 |
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 |
| 2004 | 73.19 | 26.81 | 1.33 | 1.03 |
| 2005 | 80.02 | 19.98 | 1.12 | 0.76 |
| 2006 | 75.25 | 24.75 | 1.04 | 0.71 |
| 2007 | 65.17 | 34.83 | 1.38 | 1.05 |
| 2008 | 68.36 | 31.64 | 1.22 | 0.86 |
| 2009 | 67.00 | 33.00 | 1.13 | 0.81 |
| 2010 | 59.31 | 40.69 | 1.20 | 0.79 |
| 2011 | 57.24 | 42.76 | 1.14 | 0.68 |
| 2012 | 61.10 | 38.90 | 1.06 | 0.72 |
| 2013 | 61.05 | 38.95 | 1.11 | 0.76 |
| 2014 | 63.62 | 36.38 | 1.12 | 0.72 |
| 2015 | 59.87 | 40.13 | 1.10 | 0.69 |
| 2016 | 66.06 | 33.94 | 1.22 | 0.83 |
| 2017 | 72.28 | 27.72 | 1.03 | 0.72 |
| 2018 | 81.75 | 18.25 | 0.92 | 0.71 |
| 2019 | 88.65 | 11.35 | 0.72 | 0.55 |
| 2020 | 98.20 | 1.80 | 0.70 | 0.54 |
| 2021 | 78.27 | 21.73 | 0.59 | 0.46 |
| 2022 | 98.84 | 1.16 | 0.28 | 0.25 |
| 2023 | 130.89 | -30.89 | 0.14 | 0.12 |
| 2024 | 197.59 | -97.59 | 0.08 | 0.08 |
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) |
| 2004 | 8762730000.0000 | -- | 130658000.0000 | -22201000.0000 |
| 2005 | 16307478000.0000 | -- | 268868000.0000 | -70305000.0000 |
| 2006 | 22369445000.0000 | -- | 418329000.0000 | -60750000.0000 |
| 2007 | 38383276000.0000 | -- | 686740000.0000 | -230872000.0000 |
| 2008 | 41381223000.0000 | -- | 828028000.0000 | -228899000.0000 |
| 2009 | 38408042000.0000 | -- | 845235000.0000 | 7760000.0000 |
| 2010 | 44991355000.0000 | -- | 1165138000.0000 | 102782000.0000 |
| 2011 | 52264259000.0000 | -- | 1218501000.0000 | -158519000.0000 |
| 2012 | 44276489000.0000 | -- | 1490108000.0000 | -18346000.0000 |
| 2013 | 47898540000.0000 | -- | 1564270000.0000 | -180156000.0000 |
| 2014 | 51365601000.0000 | -- | 1701039000.0000 | -255915000.0000 |
| 2015 | 55082038000.0000 | -- | 1580572000.0000 | -210773000.0000 |
| 2016 | 66318216000.0000 | -- | 1979752000.0000 | 2821000.0000 |
| 2017 | 60519950000.0000 | -- | 2322337000.0000 | 397057000.0000 |
| 2018 | 54616715000.0000 | -- | 2583320000.0000 | 519735000.0000 |
| 2019 | 50372279000.0000 | -- | 2158833000.0000 | 1662314000.0000 |
| 2020 | 39568729000.0000 | -- | 1837356000.0000 | 1465339000.0000 |
| 2021 | 40976894000.0000 | -- | 2568352000.0000 | 1326771000.0000 |
| 2022 | 15625097000.0000 | -- | 2913233000.0000 | 1533735000.0000 |
| 2023 | 472667000.0000 | -- | 1475539000.0000 | 2772407000.0000 |
| 2024 | 400137000.0000 | -- | 1188737000.0000 | 1982986000.0000 |