中商官网
研究报告
晨鸣纸业（HK1812）
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) |
| 2005 | 9625781000.0000 | 1963297000.0000 | 897895000.0000 | 640775000.0000 | 18243438000.0000 | 11368457000.0000 | 6874981000.0000 |
| 2006 | 11714018000.0000 | 2252319000.0000 | 625676000.0000 | 400557000.0000 | 20467482000.0000 | 13011533000.0000 | 7455949000.0000 |
| 2007 | 14878875000.0000 | 3033251000.0000 | 1523379000.0000 | 994013000.0000 | 21913725000.0000 | 11733429000.0000 | 10180296000.0000 |
| 2008 | 15430910000.0000 | 2957999000.0000 | 1590797000.0000 | 1102288000.0000 | 26207330000.0000 | 12550361000.0000 | 13656969000.0000 |
| 2009 | 14815253000.0000 | 2816861000.0000 | 1208382000.0000 | 862946000.0000 | 28126134000.0000 | 13718420000.0000 | 14407714000.0000 |
| 2010 | 17203123029.4900 | 3520121569.1700 | 1562354564.2000 | 1163341066.2100 | 35077132129.9800 | 19816933123.4800 | 15260199006.5000 |
| 2011 | 17747489900.8700 | 2816336724.9800 | 698989896.7000 | 608271256.2900 | 45630828967.0300 | 30643054107.6400 | 14987774859.3900 |
| 2012 | 19761679230.0500 | 3067910907.6900 | -16139981.4400 | 221034822.5400 | 47725421927.3900 | 33380003994.3400 | 14345417933.0500 |
| 2013 | 20388890067.4100 | 3737004047.7700 | 866291669.5300 | 710655331.7200 | 47521883569.1800 | 32883530036.2900 | 14638353532.8900 |
| 2014 | 19101677077.6900 | 3778574298.4900 | 561008283.2900 | 505204384.7300 | 56822026545.2100 | 42473958312.2100 | 14348068233.0000 |
| 2015 | 20241906131.8100 | 5477242700.6300 | 1410168985.0500 | 1021224678.0400 | 77961699547.5900 | 60702773102.1100 | 17258926445.4800 |
| 2016 | 22907118241.8400 | 7119777823.0400 | 2583166339.6100 | 1998578788.7500 | 82285354532.1400 | 59720495316.9500 | 22564859215.1900 |
| 2017 | 29472453563.9800 | 9743263088.8900 | 4536478573.5300 | 3769325450.9300 | 105625096076.9200 | 75350917537.9800 | 30274178538.9400 |
| 2018 | 28875756163.5600 | 9029999345.0500 | 3206316116.1900 | 2509828858.4700 | 105318734827.8200 | 79447043599.7300 | 25871691228.0900 |
| 2019 | 30119500633.5400 | 7369230884.1600 | 2048478829.2700 | 1656566584.8800 | 97958909935.1500 | 71619137054.6000 | 26339772880.5500 |
| 2020 | 30485989141.5000 | 6840394955.2900 | 2172269942.5400 | 1712029078.5200 | 91575457828.6200 | 65775194113.3800 | 25800263715.2400 |
| 2021 | 32735356081.8300 | 7513080286.5500 | 2306180309.9900 | 2065513108.7100 | 82869661681.0800 | 60294625467.3400 | 22575036213.7400 |
| 2022 | 31761228005.8500 | 4387502298.8500 | 182269348.0000 | 189290120.8200 | 84301017409.6200 | 60572763589.0100 | 23728253820.6100 |
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) |
| 2005 | 20.40 | -- | 4.92 | 12.29 | 3.60 | -- | 0.53 |
| 2006 | 19.23 | -- | 3.06 | 6.96 | 5.14 | -- | 0.57 |
| 2007 | 20.39 | -- | 6.95 | 11.87 | 6.79 | -- | 0.68 |
| 2008 | 19.17 | -- | 6.07 | 9.25 | 3.67 | -- | 0.59 |
| 2009 | 19.01 | -- | 4.30 | 6.81 | 5.39 | -- | 0.53 |
| 2010 | 20.46 | -- | 4.45 | 8.59 | 4.49 | -- | 0.49 |
| 2011 | 15.87 | -- | 1.53 | 4.5 | 2.67 | -- | 0.39 |
| 2012 | 15.52 | -- | -0.03 | 1.61 | 3.78 | -- | 0.41 |
| 2013 | 18.33 | -- | 1.82 | 5.06 | 3.30 | -- | 0.43 |
| 2014 | 19.78 | -- | 0.99 | 3.63 | 2.83 | -- | 0.34 |
| 2015 | 27.06 | -- | 1.81 | 6.05 | 2.83 | -- | 0.26 |
| 2016 | 31.08 | -- | 3.14 | 8.99 | 3.25 | -- | 0.28 |
| 2017 | 33.06 | -- | 4.29 | 13.57 | 3.28 | -- | 0.28 |
| 2018 | 31.27 | -- | 3.04 | 10.02 | 2.93 | -- | 0.27 |
| 2019 | 24.47 | -- | 2.09 | 6.58 | 4.77 | -- | 0.31 |
| 2020 | 22.44 | -- | 2.37 | 7.05 | 4.60 | -- | 0.33 |
| 2021 | 22.95 | -- | 2.78 | 10.8 | 4.77 | -- | 0.40 |
| 2022 | 13.81 | -- | 0.22 | 0.99 | 4.01 | -- | 0.38 |
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 |
| 2005 | 62.32 | 37.68 | -- | -- |
| 2006 | 63.57 | 36.43 | -- | -- |
| 2007 | 53.54 | 46.46 | -- | -- |
| 2008 | 47.89 | 52.11 | -- | -- |
| 2009 | 48.77 | 51.23 | -- | -- |
| 2010 | 56.50 | 43.50 | -- | -- |
| 2011 | 67.15 | 32.85 | -- | -- |
| 2012 | 69.94 | 30.06 | -- | -- |
| 2013 | 69.20 | 30.80 | -- | -- |
| 2014 | 74.75 | 25.25 | -- | -- |
| 2015 | 77.86 | 22.14 | -- | -- |
| 2016 | 72.58 | 27.42 | -- | -- |
| 2017 | 71.34 | 28.66 | -- | -- |
| 2018 | 75.43 | 24.57 | -- | -- |
| 2019 | 73.11 | 26.89 | -- | -- |
| 2020 | 71.83 | 28.17 | -- | -- |
| 2021 | 72.76 | 27.24 | -- | -- |
| 2022 | 71.85 | 28.15 | -- | -- |
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) |
| 2005 | 7662484000.0000 | -- | 468640000.0000 | 311296000.0000 |
| 2006 | 9461699000.0000 | -- | 557372000.0000 | 512666000.0000 |
| 2007 | 11845624000.0000 | -- | 653232000.0000 | 555693000.0000 |
| 2008 | 12472911000.0000 | -- | 542680000.0000 | 462613000.0000 |
| 2009 | 11998392000.0000 | -- | 637615000.0000 | 384023000.0000 |
| 2010 | 13683001460.3200 | -- | 871138204.7100 | 233455658.1000 |
| 2011 | 14931153175.8900 | -- | 1014494608.5000 | 432022027.8400 |
| 2012 | 16693768322.3600 | -- | 1110246902.7500 | 1092760015.0400 |
| 2013 | 16651886019.6400 | -- | 1198704556.0000 | 930604174.9600 |
| 2014 | 15323102779.2000 | -- | 1160542907.3900 | 1229259157.4700 |
| 2015 | 14764663431.1800 | -- | 1384652496.8200 | 1669400051.7600 |
| 2016 | 15787340418.8000 | -- | 1441458586.0600 | 1818564890.7800 |
| 2017 | 19729190475.0900 | -- | 1909369899.8600 | 2117302131.7200 |
| 2018 | 19845756818.5100 | -- | 1897714330.3000 | 2741486438.0300 |
| 2019 | 22750269749.3800 | -- | 2127038348.5800 | 2916029154.3700 |
| 2020 | 23645594186.2100 | -- | 2299775901.8800 | 2562065063.2200 |
| 2021 | 25222275795.2800 | -- | 2396127107.0000 | 2387471286.4600 |
| 2022 | 27373725707.0000 | -- | 2040828243.4400 | 2146556149.0600 |