中商官网
研究报告
理文造纸（HK2314）
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 （%) |
| 202312 | 24937083000.0000 | -14.51 | 2502174000.0000 | -7.07 | 1412359000.0000 | -3.18 | 1050931000.0000 | -11.33 |
| 202306 | 12207102000.0000 | -20.09 | 979644000.0000 | -40.86 | 438134000.0000 | -53.87 | 307930000.0000 | -61.39 |
| 202212 | 29170402000.0000 | -10.28 | 2692496000.0000 | -52.79 | 1458721000.0000 | -61.55 | 1185236000.0000 | -62.05 |
| 202206 | 15276210000.0000 | 0.63 | 1656358000.0000 | -50.38 | 949731000.0000 | -59.28 | 797448000.0000 | -58.81 |
| 202112 | 32511417000.0000 | 25.68 | 5702936000.0000 | -0.78 | 3794283000.0000 | -12.20 | 3122838000.0000 | -11.38 |
| 202106 | 15180233000.0000 | 37.12 | 3337836000.0000 | 54.13 | 2332574000.0000 | 42.08 | 1935969000.0000 | 44.89 |
| 202012 | 25867966000.0000 | -4.70 | 5747938000.0000 | 12.86 | 4321472000.0000 | 7.49 | 3523823000.0000 | 8.91 |
| 202006 | 11070855000.0000 | -14.49 | 2165644000.0000 | -7.34 | 1641680000.0000 | -16.71 | 1336120000.0000 | -20.47 |
| 201912 | 27144210000.0000 | -15.72 | 5093034000.0000 | -32.17 | 4020195000.0000 | -34.39 | 3235605000.0000 | -33.70 |
| 201906 | 12946828000.0000 | -20.91 | 2337144000.0000 | -43.31 | 1971057000.0000 | -44.91 | 1680082000.0000 | -43.63 |
| 201812 | 32208082000.0000 | 24.66 | 7508486000.0000 | -0.06 | 6127332000.0000 | -3.10 | 4880206000.0000 | -3.18 |
| 201806 | 16369363000.0000 | 43.09 | 4122329000.0000 | 33.91 | 3577909000.0000 | 36.53 | 2980380000.0000 | 35.87 |
| 201712 | 25836884000.0000 | 40.86 | 7512854000.0000 | 84.11 | 6323175000.0000 | 88.53 | 5040292000.0000 | 76.07 |
| 201706 | 11439571000.0000 | 36.69 | 3078518000.0000 | 58.33 | 2620578000.0000 | 59.28 | 2193631000.0000 | 53.35 |
| 201612 | 18341677000.0000 | 4.12 | 4080534000.0000 | 14.04 | 3354017000.0000 | 21.96 | 2862743000.0000 | 22.78 |
| 201606 | 8368758000.0000 | -3.76 | 1944387000.0000 | 8.40 | 1645304000.0000 | 27.73 | 1430430000.0000 | 27.71 |
| 201512 | 17615641000.0000 | 3.02 | 3578285000.0000 | 16.50 | 2750162000.0000 | 24.50 | 2331675000.0000 | 22.44 |
| 201506 | 8695428000.0000 | 4.66 | 1793779000.0000 | 22.74 | 1288073000.0000 | 24.07 | 1120099000.0000 | 22.75 |
| 201412 | 17099134000.0000 | 0.76 | 3071602000.0000 | 6.42 | 2208930000.0000 | 0.75 | 1904394000.0000 | -2.25 |
| 201406 | 8308212000.0000 | 2.54 | 1461473000.0000 | 2.07 | 1038142000.0000 | -7.26 | 912539000.0000 | -6.03 |
| 201312 | 16970365000.0000 | 48.55 | 2886302000.0000 | 47.96 | 2192471000.0000 | 46.35 | 1948203000.0000 | 47.48 |
| 201306 | 8102470000.0000 | -- | 1431874000.0000 | -- | 1119396000.0000 | -- | 971132000.0000 | -- |
| 201212 | 11423998000.0000 | -- | 1950703000.0000 | -- | 1498116000.0000 | -- | 1321018000.0000 | -- |
| 201209 | 7223721000.0000 | -1.86 | 1108817000.0000 | 9.92 | 776793000.0000 | 7.11 | 674252000.0000 | 4.26 |
| 201203 | 14715553000.0000 | 4.85 | 2063444000.0000 | -20.08 | 1536751000.0000 | -22.55 | 1351449000.0000 | -26.87 |
| 201109 | 7360334000.0000 | 6.69 | 1008711000.0000 | -18.62 | 725240000.0000 | -22.04 | 646676000.0000 | -22.95 |
| 201103 | 14034285000.0000 | 26.44 | 2581850000.0000 | -7.34 | 1984126000.0000 | -4.16 | 1847979000.0000 | 0.80 |
| 201009 | 6898722000.0000 | 36.35 | 1239494000.0000 | -0.60 | 930217000.0000 | 4.05 | 839252000.0000 | 2.77 |
| 201003 | 11099263000.0000 | 15.03 | 2786481000.0000 | 167.16 | 2070198000.0000 | 513.45 | 1833305000.0000 | 506.82 |
| 200909 | 5059742000.0000 | -7.89 | 1246973000.0000 | 22.70 | 893971000.0000 | 28.52 | 816662000.0000 | 22.22 |
| 200903 | 9649365000.0000 | 7.26 | 1043017000.0000 | -51.55 | 337470000.0000 | -77.49 | 302117000.0000 | -79.04 |
| 200809 | 5492866000.0000 | 41.04 | 1016274000.0000 | 2.27 | 695596000.0000 | -8.58 | 668213000.0000 | -6.94 |
| 200803 | 8996113000.0000 | 74.32 | 2152625000.0000 | 58.11 | 1499146000.0000 | 44.01 | 1441329000.0000 | 42.68 |
| 200709 | 3894469000.0000 | 60.75 | 993670000.0000 | 64.69 | 760902000.0000 | 79.83 | 718082000.0000 | 74.84 |
| 200703 | 5160552000.0000 | 36.59 | 1361451000.0000 | 55.74 | 1041005000.0000 | 66.40 | 1010204000.0000 | 68.36 |
| 200609 | 2422625000.0000 | 29.60 | 603365000.0000 | 58.90 | 423124000.0000 | 34.97 | 410700000.0000 | 32.76 |
| 200603 | 3778054000.0000 | 36.32 | 874174000.0000 | 52.45 | 625586000.0000 | 47.74 | 600028000.0000 | 43.64 |
| 200509 | 1869320000.0000 | 48.63 | 379720000.0000 | 40.79 | 313505000.0000 | 59.04 | 309350000.0000 | 59.22 |
| 200503 | 2771423000.0000 | 62.92 | 573431000.0000 | 51.56 | 423436000.0000 | 45.95 | 417743000.0000 | 46.64 |
| 200409 | 1257701000.0000 | 57.48 | 269700000.0000 | 43.04 | 197118000.0000 | 39.87 | 194288000.0000 | 40.86 |
| 200403 | 1701055000.0000 | 65.41 | 378352000.0000 | 38.68 | 290128000.0000 | 34.90 | 284878000.0000 | 33.70 |
| 200309 | 798631000.0000 | 106.37 | 188548000.0000 | 64.21 | 140928000.0000 | 53.82 | 137928000.0000 | 50.55 |
| 200303 | 1028406000.0000 | 39.18 | 272819000.0000 | 30.61 | 215076000.0000 | 22.54 | 213076000.0000 | 21.40 |
| 200209 | 386995000.0000 | -- | 114820000.0000 | -- | 91618000.0000 | -- | 91618000.0000 | -- |
| 200203 | 738885000.0000 | 44.07 | 208874000.0000 | 89.22 | 175520000.0000 | 122.61 | 175520000.0000 | 122.62 |
| 200103 | 512853000.0000 | -- | 110387000.0000 | -- | 78846000.0000 | -- | 78842000.0000 | -- |
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) |
| 202312 | 10.03 | -- | 2.61 | 3.65 | 4.56 | -- | 0.46 |
| 202306 | 8.03 | -- | 0.82 | 1.05 | 2.30 | -- | 0.23 |
| 202212 | 9.23 | -- | 2.90 | 4.14 | 5.31 | -- | 0.58 |
| 202206 | 10.84 | -- | 1.81 | 2.66 | 2.27 | -- | 0.29 |
| 202112 | 17.54 | -- | 7.23 | 10.05 | 4.70 | -- | 0.62 |
| 202106 | 21.99 | -- | 4.56 | 6.42 | 2.10 | -- | 0.30 |
| 202012 | 22.22 | -- | 9.23 | 12.4 | 4.63 | -- | 0.55 |
| 202006 | 19.56 | -- | 3.82 | 5.75 | 2.33 | -- | 0.26 |
| 201912 | 18.76 | -- | 9.24 | 13.62 | 6.17 | -- | 0.62 |
| 201906 | 18.05 | -- | 4.32 | 7.1 | 2.19 | -- | 0.28 |
| 201812 | 23.31 | -- | 14.32 | 21.09 | 5.05 | -- | 0.75 |
| 201806 | 25.18 | -- | 7.67 | 12.08 | 2.27 | -- | 0.35 |
| 201712 | 29.08 | -- | 14.61 | 23 | 3.70 | -- | 0.60 |
| 201706 | 26.91 | -- | 6.88 | 11.7 | 2.43 | -- | 0.30 |
| 201612 | 22.25 | -- | 9.58 | 17.02 | 4.89 | -- | 0.52 |
| 201606 | 23.23 | -- | 4.77 | 8.28 | 2.26 | -- | 0.24 |
| 201512 | 20.31 | -- | 7.73 | 13.53 | 4.54 | -- | 0.49 |
| 201506 | 20.63 | -- | 3.89 | 6.37 | 2.32 | -- | 0.26 |
| 201412 | 17.96 | -- | 6.36 | 10.9 | 4.31 | -- | 0.49 |
| 201406 | 17.59 | -- | 3.19 | 5.48 | 1.94 | -- | 0.26 |
| 201312 | 17.01 | -- | 7.03 | 11.92 | 4.51 | -- | 0.54 |
| 201306 | 17.67 | -- | 3.77 | 6.24 | 2.09 | -- | 0.27 |
| 201212 | 17.08 | -- | 5.43 | 9.05 | 3.29 | -- | 0.41 |
| 201209 | 15.35 | -- | 2.90 | 4.88 | 2.27 | -- | 0.27 |
| 201203 | 14.02 | -- | 5.75 | 10.01 | 4.05 | -- | 0.55 |
| 201109 | 13.70 | -- | 3.01 | 5.02 | 2.47 | -- | 0.31 |
| 201103 | 18.40 | -- | 8.60 | 15.02 | 3.86 | -- | 0.61 |
| 201009 | 17.97 | -- | 4.53 | 7.81 | 2.86 | -- | 0.34 |
| 201003 | 25.11 | -- | 10.50 | 18.06 | 3.77 | -- | 0.56 |
| 200909 | 24.64 | -- | 4.97 | 8.76 | 2.22 | -- | 0.28 |
| 200903 | 10.81 | -- | 1.81 | 3.57 | 5.26 | -- | 0.52 |
| 200809 | 18.50 | -- | 3.78 | 7.41 | 1.67 | -- | 0.30 |
| 200803 | 23.93 | -- | 8.81 | 17.92 | 2.74 | -- | 0.53 |
| 200709 | 25.51 | -- | 5.91 | 9.7 | 1.75 | -- | 0.30 |
| 200703 | 26.38 | -- | 10.57 | 15.37 | 2.75 | -- | 0.52 |
| 200609 | 24.91 | -- | 6.12 | 10.87 | 2.21 | -- | 0.35 |
| 200603 | 23.14 | -- | 10.83 | 16.77 | 3.75 | -- | 0.65 |
| 200509 | 20.31 | -- | 6.49 | 9.67 | 2.91 | -- | 0.39 |
| 200503 | 20.69 | -- | 10.29 | 13.73 | 4.01 | -- | 0.67 |
| 200409 | 21.44 | -- | 5.30 | 6.9 | 2.93 | -- | 0.34 |
| 200403 | 22.24 | -- | 8.51 | 14.97 | 2.82 | -- | 0.50 |
| 200309 | 23.61 | -- | 5.46 | 9.98 | 2.50 | -- | 0.31 |
| 200303 | 26.53 | -- | 11.15 | 43.09 | 2.93 | -- | 0.53 |
| 200209 | 29.67 | -- | -- | -- | -- | -- | -- |
| 200203 | 28.27 | -- | 15.92 | 59.57 | 5.68 | -- | 0.67 |
| 200103 | 21.52 | -- | 8.44 | 65.6 | 5.65 | -- | 0.55 |
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 |
| 202312 | 46.82 | 53.18 | -- | -- |
| 202306 | 44.96 | 55.04 | -- | -- |
| 202212 | 43.16 | 56.84 | -- | -- |
| 202206 | 38.22 | 61.78 | -- | -- |
| 202112 | 36.32 | 63.68 | -- | -- |
| 202106 | 36.53 | 63.47 | -- | -- |
| 202012 | 34.29 | 65.71 | -- | -- |
| 202006 | 40.49 | 59.51 | -- | -- |
| 201912 | 40.04 | 59.96 | -- | -- |
| 201906 | 43.01 | 56.99 | -- | -- |
| 201812 | 45.89 | 54.11 | -- | -- |
| 201806 | 47.12 | 52.88 | -- | -- |
| 201712 | 49.37 | 50.63 | -- | -- |
| 201706 | 50.79 | 49.21 | -- | -- |
| 201612 | 51.93 | 48.07 | -- | -- |
| 201606 | 49.87 | 50.13 | -- | -- |
| 201512 | 51.58 | 48.42 | -- | -- |
| 201506 | 46.86 | 53.14 | -- | -- |
| 201412 | 49.69 | 50.31 | -- | -- |
| 201406 | 48.85 | 51.15 | -- | -- |
| 201312 | 47.60 | 52.40 | -- | -- |
| 201306 | 47.50 | 52.50 | -- | -- |
| 201212 | 47.12 | 52.88 | -- | -- |
| 201209 | 48.45 | 51.55 | -- | -- |
| 201203 | 49.52 | 50.48 | -- | -- |
| 201109 | 46.57 | 53.43 | -- | -- |
| 201103 | 46.70 | 53.30 | -- | -- |
| 201009 | 47.59 | 52.41 | -- | -- |
| 201003 | 48.50 | 51.50 | -- | -- |
| 200909 | 48.19 | 51.81 | -- | -- |
| 200903 | 54.67 | 45.33 | -- | -- |
| 200809 | 51.02 | 48.98 | -- | -- |
| 200803 | 52.78 | 47.22 | -- | -- |
| 200709 | 42.26 | 57.74 | -- | -- |
| 200703 | 33.26 | 66.74 | -- | -- |
| 200609 | 44.97 | 55.03 | -- | -- |
| 200603 | 38.05 | 61.95 | -- | -- |
| 200509 | 33.80 | 66.20 | -- | -- |
| 200503 | 26.06 | 73.94 | -- | -- |
| 200409 | 24.21 | 75.79 | -- | -- |
| 200403 | 44.17 | 55.83 | -- | -- |
| 200309 | 46.47 | 53.53 | -- | -- |
| 200303 | 74.37 | 25.63 | -- | -- |
| 200209 | -- | -- | -- | -- |
| 200203 | 73.27 | 26.73 | -- | -- |
| 200103 | 87.14 | 12.86 | -- | -- |
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) |
| 202312 | 22434909000.0000 | -- | 1117844000.0000 | 278120000.0000 |
| 202306 | 11227458000.0000 | -- | 542498000.0000 | 100475000.0000 |
| 202212 | 26477906000.0000 | -- | 1238554000.0000 | 123769000.0000 |
| 202206 | 13619852000.0000 | -- | 598371000.0000 | 38243000.0000 |
| 202112 | 26808481000.0000 | -- | 1564265000.0000 | 75389000.0000 |
| 202106 | 11842397000.0000 | -- | 723644000.0000 | 32784000.0000 |
| 202012 | 20120028000.0000 | -- | 1163729000.0000 | 170517000.0000 |
| 202006 | 8905211000.0000 | -- | 501538000.0000 | 81164000.0000 |
| 201912 | 22051176000.0000 | -- | 1162805000.0000 | 324861000.0000 |
| 201906 | 10609684000.0000 | -- | 459299000.0000 | 153765000.0000 |
| 201812 | 24699596000.0000 | -- | 1518181000.0000 | 319612000.0000 |
| 201806 | 12247034000.0000 | -- | 685209000.0000 | 114934000.0000 |
| 201712 | 18324030000.0000 | -- | 1291614000.0000 | 185311000.0000 |
| 201706 | 8361053000.0000 | -- | 515330000.0000 | 81176000.0000 |
| 201612 | 14261143000.0000 | -- | 875307000.0000 | 167218000.0000 |
| 201606 | 6424371000.0000 | -- | 408203000.0000 | 87417000.0000 |
| 201512 | 14037356000.0000 | -- | 751798000.0000 | 154860000.0000 |
| 201506 | 6901649000.0000 | -- | 416674000.0000 | 71097000.0000 |
| 201412 | 14027532000.0000 | -- | 708885000.0000 | 214640000.0000 |
| 201406 | 6846739000.0000 | -- | 305384000.0000 | 113983000.0000 |
| 201312 | 14084063000.0000 | -- | 621573000.0000 | 148881000.0000 |
| 201306 | 6670596000.0000 | -- | 280451000.0000 | 66422000.0000 |
| 201212 | 9473295000.0000 | -- | 464047000.0000 | 70095000.0000 |
| 201209 | 6114904000.0000 | -- | 305048000.0000 | 50252000.0000 |
| 201203 | 12652109000.0000 | -- | 605869000.0000 | 99901000.0000 |
| 201109 | 6351623000.0000 | -- | 275317000.0000 | 45072000.0000 |
| 201103 | 11452435000.0000 | -- | 519991000.0000 | 207325000.0000 |
| 201009 | 5659228000.0000 | -- | 245819000.0000 | 95013000.0000 |
| 201003 | 8312782000.0000 | -- | 507668000.0000 | 179619000.0000 |
| 200909 | 3812769000.0000 | -- | 204760000.0000 | 96238000.0000 |
| 200903 | 8606348000.0000 | -- | 411143000.0000 | 218843000.0000 |
| 200809 | 4476592000.0000 | -- | 184932000.0000 | 79212000.0000 |
| 200803 | 6843488000.0000 | -- | 338313000.0000 | 86386000.0000 |
| 200709 | 2900799000.0000 | -- | 168502000.0000 | 33439000.0000 |
| 200703 | 3799101000.0000 | -- | 234127000.0000 | 82465000.0000 |
| 200609 | 1819260000.0000 | -- | 85831000.0000 | 55029000.0000 |
| 200603 | 2903880000.0000 | -- | 150349000.0000 | 72937000.0000 |
| 200509 | 1489600000.0000 | -- | 60877000.0000 | 19321000.0000 |
| 200503 | 2197992000.0000 | -- | 109567000.0000 | 13080000.0000 |
| 200409 | 988001000.0000 | -- | 49699000.0000 | 4036000.0000 |
| 200403 | 1322703000.0000 | -- | 64708000.0000 | 15008000.0000 |
| 200309 | 610083000.0000 | -- | 32519000.0000 | 8533000.0000 |
| 200303 | 755587000.0000 | -- | 39510000.0000 | 15233000.0000 |
| 200209 | 272175000.0000 | -- | 14919000.0000 | 7284000.0000 |
| 200203 | 530011000.0000 | -- | 24575000.0000 | 11484000.0000 |
| 200103 | 402466000.0000 | -- | 23484000.0000 | 15091000.0000 |