双鹭药业五年财务报表及基础分析

双鹭药业财务基础一、资产负债表结构（万元)资产端项目货币资金(万元)应收票据(万元)应收账款(万元)预付款项(万元)存货(万元)流动资产合计（万元）可供出售金融资产（万元）长期股权投资（万元）固定资产(万元)在建工程（万元）无形资产(万元)商誉（万元）项目短期借款(万元)应付票据(万元)应付帐款（万元）预收账款(万元)一年内到期的非流动负债（万元流动负债合计（万元）长期借款（万元）应付债券（万元）二、资产负债变动（单位亿元）2017/9/3011265136358210770274022824239060187024317590551013102017/9/300049991412015838002016/9/301142762915657211319651273815620145212932718204800202016/9/30004086609305002015/9/3011371563665761624011246258760470815998296371184874940负债端2015/9/3000398653701016600资产端项目资产总计净资产现金2017/9/304360434137451126512016/9/303967983804061142762015/9/303634463479671137流动资产除现金固定+无形投资性资产在建工程商誉短期负债(ST-debt)长期负债(LT-debt)股权融资(股本+资本公积)未分配利润指标名称特别指标*: 运营资本除现金特别指标*: 供应链占款特别指标*: 速动资产速动资产*: 不含应收类特别指标*: 可投资金指标名称短期债务敞口（ST-debt）*级别I风险敞口（现金）级别II风险敞口*供应链负债敞口*短期负债/速动资产*利息覆盖倍数*减值准备计提比例*三、营收、成本、利润结构

169772533062973790550100692373041382017/9/30153934886072371911803462733732017/9/30(180336)(1121)(180336)(61205)0.0%(27)0.2%150462373293220518204090692292741372016/9/30141157924502443111756742673512016/9/30(175666)(114267)(175666)(72799)0.0%(33)0.7%1433243713122861118480负债/权益端（有息13509249979资产负债特别指标2015/9/30133151102223371155231259573风险评估2015/9/30(155096)(115302)(155096)(79857)0.1%(40)-0.3%收入构成项目营业收入投资收益非经常项目损益营业成本税2017/9/3077368658512441769473142016/9/30698602356102019068312015/9/308232851431191成本构成236268553管理费用财务费用销售费用净利润净利润（扣非）四、现金流量简表项目经营活动现金流入经营活动现金流出经营活动现金流量净额投资活动现金流入投资活动现金流出投资活动现金流量净额筹资活动现金流入筹资活动现金流出筹资活动现金流量净额五、主要财务指标

7765-157617013383371456947-12063235517344977007-14392292517275002017/9/301019496576636182106031133206-2717416013698-135382016/9/308375960719230405181794143-4232730013698-133982015/9/309499858796362010470228419013698-13698资产负债类项目资产负债率流动资产比例有息负债比例项目毛利率三项费用率成本费用率融资成本人工成本税务成本净利润率原辅材项目2017/9/304.5%.8%0.0%2017/9/3077.1%30.0%.6%-15756.7%8.0%18.8%49.6%23.6%2017/9/302016/9/303.3%66.7%0.0%2016/9/3071.5%14.8%45.2%-13857.0%8.1%22.3%50.8%18.8%2016/9/302015/9/303.3%71.2%0.0%营账类2015/9/3071.3%9.5%39.2%-1065.7%6.9%24.0%62.8%6.3%周转类2015/9/30应收账款周转天数存货周转天数流动资产周转天数总资产周转率权益乘数净利润率权益回报率已投入资本已投入资本（不含现金）投资资本回报率已获利息倍数股利支付率现金/未分配利润现金/净利润未分配利润/总股本资本公积/总股本296.0485.31290.717.74%1.09.62%9.22%41373037869.22%-27.2839.8%0.372.934.440.01357.3283.51367.617.61%1.0350.84%9.26%3837672694929.25%-33.4842.0%0.423.224.000.01282.5171.91031.8回报相关/杜邦体22.65%1.0362.83%14.72%35159723616014.71%-40.1629.3%送转股指标0.462.233.650.01务基础分析报告端

2014/9/302013/9/30最新期占比增幅变动(亿)8355995825.8%-1.4%-0.16198426040.1%-87.6%-0.26573343933513.0%-14.1%-0.92117702192.5%20.8%0.1911015175626.3%39.4%0.78206718170831.8%6.7%1.77933095842.1%-42.0%-0.66235192032.3%28.8%0.4229500241519.9%47.2%1.388526101062.1%-50.3%-0.91753728622.3%26.6%0.21000.0%0.0%0.00端

2014/9/302013/9/30最新期占比增幅变动(亿)000.0%0.0%0.00000.0%0.0%0.00294118691.1%22.3%0.0972170.3%112.7%0.07000.0%0.0%0.00972461213.6%70.2%0.65000.0%0.0%0.00000.0%0.0%0.00端

2014/9/302013/9/30最新变动数同比增速复合增速313630250332392459.9%8.6%299369240734333388.8%8.4%83559958-1625-1.4%7.2%1212831108731931012.8%8.8%37037270121597742.8%9.5%3510231599-2469-7.7%-4.1%852610106-9148-50.3%1.5%0000.0%0.0%（有息）35529114.9%-26.9%0000.0%0.0%488294686680.0%9.1%2266171748113000010.9%7.6%别指标2014/9/302013/9/30变动数变动比例占总资产1115591047521277.1%35.3%7843579114-3844-4.2%20.3%184981132684-7120-2.9%.4%12566290746712.7%41.4%22240415029060222.3%62.7%估2014/9/302013/9/30变动数指标释义(125627)(90216)(4670)短期有息-现金、理财等*(800)(59430)1626有息债务-现金*(125627)(90216)(4670)有息债务-现金、理财等*(67420)(61552)11594应付-应收*0.0%0.4%0含应收*(50)()6//-0.4%0.4%-0.5%不含应收票据（银承）成2014/9/302013/9/30最新变动最新变动比例复合增速72182962750810.7%-3.6%311324214229179.5%20.6%2782163122321.9%-18.2%成2484826519-2196-11.0%-8.1%9443793827.1%-6.2%6932757481811.8%2.9%-1196-932-37030.7%7.1%1904171512381267.3%72.9%5333388828718.1%-7.9%502257287.7%-7.4%2014/9/302013/9/30最新变动值最新变动比例复合增速944869241819021.7%1.9%572216931850488.3%3.5%37423176061314257.0%-0.8%6393733798214104.6%13.5%82911480273906241.5%12.6%-174-1422915152-35.8%9.4%00-140-46.7%0.0%9296951800.0%10.2%-9296-9518-1401.0%9.9%2014/9/302013/9/30变动3.7%2.8%1.2%65.9%68.2%-1.9%0.0%0.2%0.0%2014/9/302013/9/30变动72.3%68.0%5.6%8.5%10.1%15.1%38.0%43.4%9.3%-3415.9%-176.2%-19.7%5.5%5.2%-0.1%23.1%20.3%-3.5%59.4%52.9%-1.2%11.9%21.6%4.8%2014/9/302013/9/30债类类

类

206.0209.9768.0147.0175.6677.033.14%1.0352.90%18.03%24395918400117.99%-53.6923.8%0.341.373.830.03杜邦体系28.61%1.0459.45%17.66%301985216917.66%-50.4919.4%指标0.381.604.960.07