中商官网
研究报告
波司登（HK3998）
主要经济指标
| 类别\年份 | 营业额 （元) |
营业额同比 （%) |
营业利润 （元) |
营业利润同比 （%) |
利润总额 （元) |
利润总额同比 （%) |
净利润 （元) |
净利润同比 （%) |
| 2024-09 | 8804128000.0000 | 17.83 | 4391320000.0000 | 17.62 | 1558448000.0000 | 19.83 | 1129698000.0000 | 22.98 |
| 2024-03 | 23214033000.0000 | 38.39 | 13833540000.0000 | 38.67 | 4541210000.0000 | 57.28 | 3074072000.0000 | 43.74 |
| 2023-09 | 7471665000.0000 | 20.89 | 3733477000.0000 | 20.86 | 1300534000.0000 | 29.12 | 918637000.0000 | 25.11 |
| 2022-03 | 16213608000.0000 | 19.95 | 9737179000.0000 | 22.88 | 2672148000.0000 | 19.17 | 2062323000.0000 | 20.63 |
| 2022-09 | 6180465000.0000 | 14.09 | 3089113000.0000 | 12.40 | 1007195000.0000 | 22.24 | 734286000.0000 | 15.01 |
| 2023-03 | 16774220000.0000 | 3.46 | 9975876000.0000 | 2.45 | 2887313000.0000 | 8.05 | 2138574000.0000 | 3.70 |
| 2020-09 | 4661116000.0000 | 5.07 | 2227342000.0000 | 15.43 | 647716000.0000 | 33.21 | 486031000.0000 | 41.84 |
| 2021-09 | 5416978000.0000 | 16.22 | 2748222000.0000 | 23.39 | 823933000.0000 | 27.21 | 638474000.0000 | 31.36 |
| 2021-03 | 13516513000.0000 | 10.88 | 7924266000.0000 | 18.12 | 2242308000.0000 | 40.15 | 1709566000.0000 | 42.09 |
| 2020-03 | 12190535000.0000 | 17.40 | 6708646000.0000 | 21.68 | 1599913000.0000 | 14.73 | 1203184000.0000 | 22.61 |
| 2019-09 | 4436283000.0000 | 28.81 | 1929612000.0000 | 32.58 | 486241000.0000 | 34.82 | 342664000.0000 | 36.43 |
| 2019-03 | 10383453000.0000 | 16.92 | 5513514000.0000 | 33.85 | 1394478000.0000 | 56.99 | 981316000.0000 | 59.44 |
| 2018-03 | 8880792000.0000 | 30.28 | 4119102000.0000 | 30.22 | 888267000.0000 | 55.05 | 615478000.0000 | 57.07 |
| 2018-09 | 3444181000.0000 | 16.39 | 1455405000.0000 | 22.52 | 360671000.0000 | 51.01 | 251164000.0000 | 43.93 |
| 2016-09 | 2566663000.0000 | 0.11 | 1010918000.0000 | 9.37 | 191967000.0000 | 3.58 | 157177000.0000 | 20.26 |
| 2017-03 | 6816599000.0000 | 17.79 | 3163204000.0000 | 21.23 | 572890000.0000 | 40.92 | 391844000.0000 | 39.48 |
| 2017-09 | 2959143000.0000 | 15.29 | 1187921000.0000 | 17.51 | 238835000.0000 | 24.41 | 174506000.0000 | 11.03 |
| 2016-03 | 5787321000.0000 | -8.03 | 2609218000.0000 | -9.09 | 406528000.0000 | 70.75 | 280942000.0000 | 112.52 |
| 2015-09 | 2563746000.0000 | -10.03 | 924325000.0000 | -31.51 | 185337000.0000 | -48.00 | 130699000.0000 | -48.29 |
| 2015-03 | 6292569000.0000 | -23.61 | 2870009000.0000 | -30.26 | 238089000.0000 | -75.76 | 132197000.0000 | -80.97 |
| 2014-09 | 2849533000.0000 | 1.43 | 1349499000.0000 | -2.71 | 356444000.0000 | -14.94 | 252733000.0000 | -22.51 |
| 2014-03 | 8237894000.0000 | -11.65 | 4115456000.0000 | -12.82 | 982307000.0000 | -32.58 | 694704000.0000 | -35.60 |
| 2013-09 | 2809239000.0000 | -8.79 | 1387113000.0000 | -1.15 | 419041000.0000 | -8.76 | 326144000.0000 | 3.08 |
| 2013-03 | 9324539000.0000 | 11.32 | 4720549000.0000 | 12.70 | 1456916000.0000 | -15.38 | 1078650000.0000 | -24.92 |
| 2012-09 | 3080018000.0000 | 12.45 | 1403203000.0000 | 30.01 | 459276000.0000 | 29.62 | 316398000.0000 | -3.36 |
| 2011-03 | 7037805000.0000 | 22.65 | 3299369000.0000 | 14.30 | 1500674000.0000 | 17.48 | 1276446000.0000 | 18.35 |
| 2012-03 | 8376062000.0000 | 19.02 | 4188634000.0000 | 26.95 | 1721736000.0000 | 14.73 | 1436642000.0000 | 12.55 |
| 2011-09 | 2739114000.0000 | 47.40 | 1079306000.0000 | 53.25 | 354321000.0000 | 99.58 | 327398000.0000 | 196.11 |
| 2010-03 | 5738121000.0000 | 34.22 | 2886637000.0000 | 48.42 | 1277440000.0000 | 64.60 | 1078550000.0000 | 44.17 |
| 2010-09 | 1858284000.0000 | 18.75 | 704262000.0000 | 34.18 | 177536000.0000 | 121.08 | 110565000.0000 | 82.38 |
| 2009-09 | 1564855000.0000 | 26.18 | 524873000.0000 | 40.02 | 80305000.0000 | 4.53 | 60622000.0000 | 19.04 |
| 2008-09 | 1240193000.0000 | -38.09 | 374868000.0000 | -40.42 | 76826000.0000 | -73.22 | 50927000.0000 | -81.43 |
| 2009-03 | 4275144000.0000 | -19.02 | 1944971000.0000 | -19.26 | 776070000.0000 | -32.41 | 748120000.0000 | -33.02 |
| 2007-03 | 5632967000.0000 | 52.30 | 1987458000.0000 | 40.25 | 824245000.0000 | 12.31 | 617593000.0000 | 23.32 |
| 2007-09 | 2003314000.0000 | 15.86 | 629163000.0000 | 14.52 | 286837000.0000 | -1.07 | 274315000.0000 | 50.61 |
| 2008-03 | 5279416000.0000 | -6.28 | 2408802000.0000 | 21.20 | 1148249000.0000 | 39.31 | 1116937000.0000 | 80.85 |
| 2006-09 | 1729085000.0000 | -- | 549408000.0000 | -- | 289948000.0000 | -- | 182130000.0000 | -- |
| 2006-03 | 3698641000.0000 | 47.40 | 1417041000.0000 | 75.76 | 733906000.0000 | 77.19 | 500786000.0000 | 98.27 |
| 2005-03 | 2509297000.0000 | -- | 806250000.0000 | -- | 414201000.0000 | -- | 252579000.0000 | -- |
| 2025-03 | 25901713000.0000 | 11.58 | 14839856000.0000 | 7.27 | 5149237000.0000 | 13.39 | 3513913000.0000 | 14.31 |
| 2025-09 | 8927638000.0000 | 1.40 | 4466703000.0000 | 1.72 | 1679935000.0000 | 7.80 | -- | -100.00 |
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) |
| 2024-09 | 49.88 | 17.7600 | 5.79 | 8.5200 | 0.74 | -- | 0.33 |
| 2024-03 | 59.59 | 19.6200 | 17.62 | 22.3800 | 2.93 | -- | 0.90 |
| 2023-09 | 49.97 | 17.5700 | 5.51 | 7.6000 | 0.97 | -- | 0.32 |
| 2022-03 | 60.06 | 16.5700 | 12.55 | 16.9100 | 2.41 | -- | 0.76 |
| 2022-09 | 49.98 | 16.4100 | 4.40 | 6.3700 | 0.90 | -- | 0.27 |
| 2023-03 | 59.47 | 17.3500 | 13.79 | 17.0400 | 2.53 | -- | 0.80 |
| 2020-09 | 47.79 | 13.9000 | 3.49 | 4.7700 | 0.93 | -- | 0.25 |
| 2021-09 | 50.73 | 15.2100 | 3.79 | 5.7300 | 0.75 | -- | 0.25 |
| 2021-03 | 58.63 | 16.5900 | 11.83 | 15.4400 | 2.11 | -- | 0.71 |
| 2020-03 | 55.03 | 13.1200 | 9.21 | 11.7800 | 2.01 | -- | 0.70 |
| 2019-09 | 43.50 | 10.9600 | 2.97 | 3.5400 | 0.90 | -- | 0.27 |
| 2019-03 | 53.10 | 13.4300 | 9.25 | 9.9100 | 2.52 | -- | 0.69 |
| 2018-03 | 46.38 | 10.0000 | 6.15 | 6.4100 | 3.27 | -- | 0.61 |
| 2018-09 | 42.26 | 10.4700 | 2.48 | 2.7200 | 1.08 | -- | 0.24 |
| 2016-09 | 39.39 | 7.6500 | 1.34 | 2.0800 | 0.80 | -- | 0.18 |
| 2017-03 | 46.40 | 8.6900 | 4.06 | 4.2700 | 2.54 | -- | 0.48 |
| 2017-09 | 40.14 | 8.0700 | 1.67 | 1.8700 | 1.01 | -- | 0.21 |
| 2016-03 | 45.09 | 6.7700 | 3.34 | 3.8800 | 1.95 | -- | 0.48 |
| 2015-09 | 36.05 | 6.8800 | 1.48 | 1.8300 | 0.80 | -- | 0.20 |
| 2015-03 | 45.61 | 3.3900 | 1.91 | 1.8400 | 1.79 | -- | 0.50 |
| 2014-09 | 47.36 | 12.1300 | 2.67 | 3.4500 | 0.62 | -- | 0.21 |
| 2014-03 | 49.96 | 11.7100 | 7.70 | 9.7100 | 2.02 | -- | 0.65 |
| 2013-09 | 49.38 | 14.7900 | 3.32 | 4.6600 | 0.53 | -- | 0.22 |
| 2013-03 | 50.63 | 15.6200 | 11.93 | 15.2000 | 2.34 | -- | 0.76 |
| 2012-09 | 45.56 | 14.9100 | 3.63 | 4.7500 | 0.74 | -- | 0.24 |
| 2011-03 | 46.88 | 21.3200 | 16.47 | 18.5700 | 3.08 | -- | 0.77 |
| 2012-03 | 50.01 | 20.5600 | 15.32 | 20.1300 | 2.99 | -- | 0.75 |
| 2011-09 | 39.40 | 12.9400 | 3.53 | 5.2900 | 0.77 | -- | 0.27 |
| 2010-03 | 50.31 | 22.2600 | 15.24 | 15.8300 | 3.32 | -- | 0.68 |
| 2010-09 | 37.90 | 9.5500 | 2.12 | 1.7800 | 0.74 | -- | 0.22 |
| 2009-09 | 33.54 | 5.1300 | 1.03 | 1.0000 | 0.91 | -- | 0.20 |
| 2008-09 | 30.23 | 6.1900 | 1.02 | 0.8100 | 0.81 | -- | 0.16 |
| 2009-03 | 45.49 | 18.1500 | 10.53 | 11.3400 | 2.72 | -- | 0.58 |
| 2007-03 | 35.28 | 14.6300 | 26.13 | 111.2400 | 2.93 | -- | 1.79 |
| 2007-09 | 31.41 | 14.3200 | 7.40 | 73.3500 | 1.35 | -- | 0.52 |
| 2008-03 | 45.63 | 21.7500 | 14.53 | 15.7600 | 2.91 | -- | 0.67 |
| 2006-09 | 31.77 | 16.7700 | -- | -- | -- | -- | -- |
| 2006-03 | 38.31 | 19.8400 | 48.95 | 132.0900 | 4.31 | -- | 2.47 |
| 2005-03 | 32.13 | 16.5100 | 18.74 | 32.9600 | 3.07 | -- | 1.14 |
| 2025-03 | 57.29 | 19.9600 | 18.79 | 20.7700 | 2.80 | -- | 0.95 |
| 2025-09 | 50.03 | -- | 5.93 | -- | -- | -- | 0.32 |
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 |
| 2024-09 | 50.39 | 49.61 | 1.51 | 1.05 |
| 2024-03 | 46.38 | 53.62 | 1.70 | 1.41 |
| 2023-09 | 48.55 | 51.45 | 1.90 | 1.47 |
| 2022-03 | 42.55 | 57.45 | 2.23 | 1.82 |
| 2022-09 | 49.56 | 50.44 | 1.91 | 1.52 |
| 2023-03 | 39.81 | 60.19 | 2.43 | 1.99 |
| 2020-09 | 44.08 | 55.92 | 2.31 | 1.87 |
| 2021-09 | 47.95 | 52.05 | 1.89 | 1.46 |
| 2021-03 | 40.65 | 59.35 | 2.37 | 1.88 |
| 2020-03 | 40.14 | 59.86 | 2.66 | 2.08 |
| 2019-09 | 39.43 | 60.57 | 1.99 | 1.53 |
| 2019-03 | 32.98 | 67.02 | 2.32 | 1.92 |
| 2018-03 | 32.27 | 67.73 | 2.53 | 2.19 |
| 2018-09 | 35.21 | 64.79 | 2.19 | 1.82 |
| 2016-09 | 45.47 | 54.53 | 1.81 | 1.50 |
| 2017-03 | 33.74 | 66.26 | 2.39 | 2.06 |
| 2017-09 | 33.25 | 66.75 | 2.38 | 1.99 |
| 2016-03 | 38.69 | 61.31 | 2.08 | 1.72 |
| 2015-09 | 41.18 | 58.82 | 2.27 | 1.79 |
| 2015-03 | 40.64 | 59.36 | 2.48 | 1.99 |
| 2014-09 | 43.41 | 56.59 | 2.44 | 1.88 |
| 2014-03 | 42.18 | 57.82 | 3.51 | 2.78 |
| 2013-09 | 43.09 | 56.91 | 2.37 | 1.72 |
| 2013-03 | 40.35 | 59.65 | 2.66 | 2.12 |
| 2012-09 | 45.63 | 54.37 | 2.36 | 1.82 |
| 2011-03 | 23.54 | 76.46 | 4.09 | 3.47 |
| 2012-03 | 34.58 | 65.42 | 2.65 | 2.23 |
| 2011-09 | 37.34 | 62.66 | 2.36 | 1.76 |
| 2010-03 | 18.72 | 81.28 | 5.50 | 4.87 |
| 2010-09 | 26.06 | 73.94 | 3.72 | 2.95 |
| 2009-09 | 22.16 | 77.84 | 4.49 | 3.74 |
| 2008-09 | 16.89 | 83.11 | 6.03 | 5.15 |
| 2009-03 | 10.50 | 89.50 | 10.06 | 8.88 |
| 2007-03 | 81.89 | 18.11 | 1.27 | 0.77 |
| 2007-09 | 90.33 | 9.67 | 1.14 | 0.84 |
| 2008-03 | 10.29 | 89.71 | 10.07 | 8.80 |
| 2006-09 | -- | -- | -- | -- |
| 2006-03 | 74.67 | 25.33 | 1.33 | 0.86 |
| 2005-03 | 64.04 | 35.96 | 1.10 | 0.70 |
| 2025-03 | 37.85 | 62.15 | 2.02 | 1.61 |
| 2025-09 | 42.99 | 57.01 | 1.77 | 1.77 |
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) |
| 2024/9/30 0:00:00 | 4412808000.0000 | -- | 768589000.0000 | -91862000.0000 |
| 2024/3/31 0:00:00 | 9380493000.0000 | -- | 1507860000.0000 | -157849000.0000 |
| 2023/9/30 0:00:00 | 3738188000.0000 | -- | 582479000.0000 | -81516000.0000 |
| 2022/3/31 0:00:00 | 6476429000.0000 | -- | 1203133000.0000 | -117390000.0000 |
| 2022/9/30 0:00:00 | 3091352000.0000 | -- | 525058000.0000 | -69125000.0000 |
| 2023/3/31 0:00:00 | 6798344000.0000 | -- | 1204017000.0000 | -83237000.0000 |
| 2020/9/30 0:00:00 | 2433774000.0000 | -- | 390342000.0000 | 18648000.0000 |
| 2021/9/30 0:00:00 | 2668756000.0000 | -- | 452830000.0000 | -29327000.0000 |
| 2021/3/31 0:00:00 | 5592247000.0000 | -- | 1026246000.0000 | -17702000.0000 |
| 2020/3/31 0:00:00 | 5481889000.0000 | -- | 852960000.0000 | -1235000.0000 |
| 2019/9/30 0:00:00 | 2506671000.0000 | -- | 335755000.0000 | -8519000.0000 |
| 2019/3/31 0:00:00 | 4869939000.0000 | -- | 729068000.0000 | -23713000.0000 |
| 2018/3/31 0:00:00 | 4761690000.0000 | -- | 630180000.0000 | 35143000.0000 |
| 2018/9/30 0:00:00 | 1988776000.0000 | -- | 333697000.0000 | -5739000.0000 |
| 2016/9/30 0:00:00 | 1555745000.0000 | -- | 267137000.0000 | 63102000.0000 |
| 2017/3/31 0:00:00 | 3653395000.0000 | -- | 608809000.0000 | 67826000.0000 |
| 2017/9/30 0:00:00 | 1771222000.0000 | -- | 301065000.0000 | -19876000.0000 |
| 2016/3/31 0:00:00 | 3178103000.0000 | -- | 477730000.0000 | -54292000.0000 |
| 2015/9/30 0:00:00 | 1639421000.0000 | -- | 242777000.0000 | -44020000.0000 |
| 2015/3/31 0:00:00 | 3422560000.0000 | -- | 536273000.0000 | -14318000.0000 |
| 2014/9/30 0:00:00 | 1500034000.0000 | -- | 339309000.0000 | -38937000.0000 |
| 2014/3/31 0:00:00 | 4122438000.0000 | -- | 459539000.0000 | -99252000.0000 |
| 2013/9/30 0:00:00 | 1422126000.0000 | -- | 247635000.0000 | -72035000.0000 |
| 2013/3/31 0:00:00 | 4603990000.0000 | -- | 459136000.0000 | -185246000.0000 |
| 2012/9/30 0:00:00 | 1676815000.0000 | -- | 210070000.0000 | -32739000.0000 |
| 2011/3/31 0:00:00 | 3738436000.0000 | -- | 207239000.0000 | -128706000.0000 |
| 2012/3/31 0:00:00 | 4187428000.0000 | -- | 337398000.0000 | -100343000.0000 |
| 2011/9/30 0:00:00 | 1659808000.0000 | -- | 179000000.0000 | -78451000.0000 |
| 2010/3/31 0:00:00 | 2851484000.0000 | -- | 235803000.0000 | -71919000.0000 |
| 2010/9/30 0:00:00 | 1154022000.0000 | -- | 162896000.0000 | -93526000.0000 |
| 2009/9/30 0:00:00 | 1039982000.0000 | -- | 148703000.0000 | -49834000.0000 |
| 2008/9/30 0:00:00 | 865325000.0000 | -- | 105559000.0000 | -58050000.0000 |
| 2009/3/31 0:00:00 | 2330173000.0000 | -- | 286974000.0000 | -96305000.0000 |
| 2007/3/31 0:00:00 | 3645509000.0000 | -- | 85710000.0000 | 30675000.0000 |
| 2007/9/30 0:00:00 | 1374151000.0000 | -- | 37793000.0000 | 41152000.0000 |
| 2008/3/31 0:00:00 | 2870614000.0000 | -- | 202262000.0000 | 15499000.0000 |
| 2006/9/30 0:00:00 | 1179677000.0000 | -- | 26793000.0000 | 2975000.0000 |
| 2006/3/31 0:00:00 | 2281600000.0000 | -- | 70155000.0000 | 30223000.0000 |
| 2005/3/31 0:00:00 | 1703047000.0000 | -- | 31483000.0000 | 18837000.0000 |
| 2025/3/31 0:00:00 | 11061857000.0000 | -- | 1652317000.0000 | -204316000.0000 |
| 2025/9/30 0:00:00 | 4460935000.0000 | -- | 644941000.0000 | -209728000.0000 |