中商官网
研究报告
天福（HK6868）
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) |
| 2008 | 570963000.0000 | 256116000.0000 | 142694000.0000 | 109224000.0000 | 716170000.0000 | 302657000.0000 | 413513000.0000 |
| 2009 | 692715000.0000 | 303372000.0000 | 193233000.0000 | 138932000.0000 | 1034597000.0000 | 482138000.0000 | 552459000.0000 |
| 2010 | 1246993000.0000 | 689729000.0000 | 313707000.0000 | 223024000.0000 | 1526728000.0000 | 863036000.0000 | 663692000.0000 |
| 2011 | 1753317000.0000 | 1079558000.0000 | 408706000.0000 | 293510000.0000 | 2477927000.0000 | 587445000.0000 | 1890482000.0000 |
| 2012 | 1706598000.0000 | 1094704000.0000 | 407135000.0000 | 294597000.0000 | 2134370000.0000 | 305792000.0000 | 1828578000.0000 |
| 2013 | 1661577000.0000 | 1017189000.0000 | 369035000.0000 | 267133000.0000 | 2341394000.0000 | 451037000.0000 | 1890357000.0000 |
| 2014 | 1688589000.0000 | 1049869000.0000 | 378362000.0000 | 270198000.0000 | 2844607000.0000 | 880822000.0000 | 1963785000.0000 |
| 2015 | 1518045000.0000 | 931600000.0000 | 227640000.0000 | 146354000.0000 | 2502749000.0000 | 577919000.0000 | 1924830000.0000 |
| 2016 | 1484718000.0000 | 909281000.0000 | 245703000.0000 | 165420000.0000 | 2406261000.0000 | 419372000.0000 | 1986889000.0000 |
| 2017 | 1576561000.0000 | 955273000.0000 | 335106000.0000 | 243511000.0000 | 2696591000.0000 | 594669000.0000 | 2101922000.0000 |
| 2018 | 1635562000.0000 | 985750000.0000 | 371272000.0000 | 268618000.0000 | 2837648000.0000 | 799970000.0000 | 2037678000.0000 |
| 2019 | 1796834000.0000 | 1057603000.0000 | 415979000.0000 | 273137000.0000 | 2903112000.0000 | 1208814000.0000 | 1694298000.0000 |
| 2020 | 1712595000.0000 | 1045840000.0000 | 467091000.0000 | 305409000.0000 | 2967721000.0000 | 1216197000.0000 | 1751524000.0000 |
| 2021 | 1924651000.0000 | 1144047000.0000 | 508732000.0000 | 359481000.0000 | 3212062000.0000 | 1379243000.0000 | 1832819000.0000 |
| 2022 | 1715400000.0000 | 920117000.0000 | 288221000.0000 | 206452000.0000 | 3139492000.0000 | 1369426000.0000 | 1770066000.0000 |
| 2023 | 1734061000.0000 | 940416000.0000 | 295341000.0000 | 213238000.0000 | 3001844000.0000 | 1216132000.0000 | 1785712000.0000 |
| 2024 | 1562648000.0000 | 806334000.0000 | 201188000.0000 | 138875000.0000 | 2973619000.0000 | 1208193000.0000 | 1765426000.0000 |
| 2025 | 1327251000.0000 | 696990000.0000 | 169078000.0000 | -- | 2915624000.0000 | -- | 1784994000.0000 |
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) |
| 2008 | 44.86 | 24.7800 | 19.92 | 26.4100 | 2.12 | -- | 0.80 |
| 2009 | 43.79 | 27.7600 | 18.68 | 25.1500 | 2.04 | -- | 0.67 |
| 2010 | 55.31 | 25.0600 | 20.55 | 33.6000 | 1.86 | -- | 0.82 |
| 2011 | 61.57 | 23.2300 | 16.49 | 15.5300 | 1.77 | -- | 0.71 |
| 2012 | 64.15 | 23.7700 | 19.08 | 16.1100 | 1.42 | -- | 0.80 |
| 2013 | 61.22 | 22.1000 | 15.76 | 14.1300 | 1.52 | -- | 0.71 |
| 2014 | 62.17 | 22.3400 | 13.30 | 13.7600 | 1.51 | -- | 0.59 |
| 2015 | 61.37 | 15.0100 | 9.10 | 7.6000 | 1.24 | -- | 0.61 |
| 2016 | 61.24 | 16.7200 | 10.21 | 8.3300 | 1.29 | -- | 0.62 |
| 2017 | 60.59 | 21.2700 | 12.43 | 11.5900 | 1.14 | -- | 0.58 |
| 2018 | 60.27 | 22.5500 | 13.08 | 13.1800 | 1.00 | -- | 0.58 |
| 2019 | 58.86 | 23.0200 | 14.33 | 16.1200 | 0.94 | -- | 0.62 |
| 2020 | 61.07 | 27.1500 | 15.74 | 17.4400 | 0.76 | -- | 0.58 |
| 2021 | 59.44 | 26.2900 | 15.84 | 19.6100 | 0.74 | -- | 0.60 |
| 2022 | 53.64 | 16.5100 | 9.18 | 11.6600 | 0.75 | -- | 0.55 |
| 2023 | 54.23 | 16.5600 | 9.84 | 11.9400 | 0.78 | -- | 0.58 |
| 2024 | 51.60 | 12.8700 | 6.77 | 7.8700 | 0.79 | -- | 0.53 |
| 2025 | 52.51 | -- | 5.80 | -- | 0.71 | -- | 0.46 |
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 |
| 2008 | 42.26 | 57.74 | 1.46 | 0.96 |
| 2009 | 46.60 | 53.40 | 1.64 | 1.23 |
| 2010 | 56.53 | 43.47 | 1.39 | 1.04 |
| 2011 | 23.71 | 76.29 | 3.47 | 2.81 |
| 2012 | 14.33 | 85.67 | 4.78 | 3.32 |
| 2013 | 19.26 | 80.74 | 3.41 | 2.43 |
| 2014 | 30.96 | 69.04 | 2.30 | 1.73 |
| 2015 | 23.09 | 76.91 | 2.61 | 1.72 |
| 2016 | 17.43 | 82.57 | 3.41 | 2.20 |
| 2017 | 22.05 | 77.95 | 3.02 | 2.00 |
| 2018 | 28.19 | 71.81 | 2.28 | 1.41 |
| 2019 | 41.64 | 58.36 | 1.42 | 0.67 |
| 2020 | 40.98 | 59.02 | 1.58 | 0.73 |
| 2021 | 42.94 | 57.06 | 1.58 | 0.69 |
| 2022 | 43.62 | 56.38 | 1.59 | 0.64 |
| 2023 | 40.51 | 59.49 | 1.70 | 0.62 |
| 2024 | 40.63 | 59.37 | 1.73 | 0.74 |
| 2025 | 0.00 | 61.22 | 2.01 | 0.99 |
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) |
| 2008 | 314847000.0000 | -- | 40269000.0000 | 9118000.0000 |
| 2009 | 389343000.0000 | -- | 55144000.0000 | 8975000.0000 |
| 2010 | 557264000.0000 | -- | 107143000.0000 | 8845000.0000 |
| 2011 | 673759000.0000 | -- | 176506000.0000 | 19298000.0000 |
| 2012 | 611894000.0000 | -- | 204697000.0000 | 1819000.0000 |
| 2013 | 644388000.0000 | -- | 192443000.0000 | -11164000.0000 |
| 2014 | 638720000.0000 | -- | 204891000.0000 | -15150000.0000 |
| 2015 | 586445000.0000 | -- | 200384000.0000 | 34986000.0000 |
| 2016 | 575437000.0000 | -- | 203792000.0000 | -6632000.0000 |
| 2017 | 621288000.0000 | -- | 205555000.0000 | -2671000.0000 |
| 2018 | 649812000.0000 | -- | 224734000.0000 | 921000.0000 |
| 2019 | 739231000.0000 | -- | 232971000.0000 | 29154000.0000 |
| 2020 | 666755000.0000 | -- | 222486000.0000 | 22836000.0000 |
| 2021 | 780604000.0000 | -- | 236961000.0000 | 21481000.0000 |
| 2022 | 795283000.0000 | -- | 272598000.0000 | 10022000.0000 |
| 2023 | 793645000.0000 | -- | 283048000.0000 | 18998000.0000 |
| 2024 | 756314000.0000 | -- | 280535000.0000 | 18321000.0000 |
| 2025 | 630261000.0000 | -- | 252224000.0000 | 14362000.0000 |