1、目 錄 TOC o 1-2 h z HYPERLINK l _Toc84994470 上篇：汽車行業(yè)分析提要 PAGEREF _Toc84994470 h 1 HYPERLINK l _Toc84994471 I行業(yè)進(jìn)入退出定性趨勢預(yù)測 PAGEREF _Toc84994471 h 1 HYPERLINK l _Toc84994472 II行業(yè)進(jìn)入/退出指標(biāo)分析 PAGEREF _Toc84994472 h 2 HYPERLINK l _Toc84994473 一、行業(yè)平均利潤率分析 PAGEREF _Toc84994473 h 2 HYPERLINK l _Toc84994474 二、企業(yè)主

2、要指標(biāo)較好值、中間值和較差值 PAGEREF _Toc84994474 h 3 HYPERLINK l _Toc84994475 三、行業(yè)規(guī)模分析 PAGEREF _Toc84994475 h 3 HYPERLINK l _Toc84994476 四、行業(yè)集中度分析 PAGEREF _Toc84994476 h 5 HYPERLINK l _Toc84994477 五、行業(yè)效率分析 PAGEREF _Toc84994477 h 6 HYPERLINK l _Toc84994478 六、行業(yè)主要財務(wù)指標(biāo)分析 PAGEREF _Toc84994478 h 7 HYPERLINK l _Toc849

3、94479 （一）盈利能力分析 PAGEREF _Toc84994479 h 7 HYPERLINK l _Toc84994480 （二）營運(yùn)能力分析 PAGEREF _Toc84994480 h 9 HYPERLINK l _Toc84994481 （三）償債能力分析 PAGEREF _Toc84994481 h 10 HYPERLINK l _Toc84994482 （四）發(fā)展能力分析 PAGEREF _Toc84994482 h 11 HYPERLINK l _Toc84994483 七、投入產(chǎn)出結(jié)構(gòu)分析 PAGEREF _Toc84994483 h 13 HYPERLINK l _To

4、c84994484 八、行業(yè)經(jīng)濟(jì)運(yùn)行指標(biāo) PAGEREF _Toc84994484 h 17 HYPERLINK l _Toc84994485 III行業(yè)風(fēng)險揭示、政策分析及負(fù)面信息 PAGEREF _Toc84994485 h 19 HYPERLINK l _Toc84994486 一、風(fēng)險揭示 PAGEREF _Toc84994486 h 19 HYPERLINK l _Toc84994487 二、政策分析 PAGEREF _Toc84994487 h 19 HYPERLINK l _Toc84994488 三、負(fù)面信息 PAGEREF _Toc84994488 h 21 HYPERLIN

5、K l _Toc84994489 IV行業(yè)動態(tài)跟蹤分析評價 PAGEREF _Toc84994489 h 22 HYPERLINK l _Toc84994490 一、行業(yè)及上下游運(yùn)行情況 PAGEREF _Toc84994490 h 22 HYPERLINK l _Toc84994491 二、行業(yè)強(qiáng)勢、弱勢、機(jī)會與風(fēng)險（SWOT） PAGEREF _Toc84994491 h 22 HYPERLINK l _Toc84994492 三、貸款建議 PAGEREF _Toc84994492 h 23 HYPERLINK l _Toc84994493 V龍頭/重點(diǎn)聯(lián)系企業(yè)分析 PAGEREF _To

6、c84994493 h 24 HYPERLINK l _Toc84994494 一、龍頭/重點(diǎn)聯(lián)系企業(yè)財務(wù)指標(biāo) PAGEREF _Toc84994494 h 24 HYPERLINK l _Toc84994495 二、企業(yè)在全國各地的分布 PAGEREF _Toc84994495 h 24 HYPERLINK l _Toc84994496 VI資本市場分析 PAGEREF _Toc84994496 h 26 HYPERLINK l _Toc84994497 下篇：汽車行業(yè)分析說明 PAGEREF _Toc84994497 h 27 HYPERLINK l _Toc84994498 I行業(yè)分析

7、PAGEREF _Toc84994498 h 27 HYPERLINK l _Toc84994499 一、行業(yè)運(yùn)行分析 PAGEREF _Toc84994499 h 27 HYPERLINK l _Toc84994500 二、行業(yè)政策分析 PAGEREF _Toc84994500 h 27 HYPERLINK l _Toc84994501 附件：新汽車產(chǎn)業(yè)發(fā)展政策 PAGEREF _Toc84994501 h 29 HYPERLINK l _Toc84994502 三、新技術(shù)、新產(chǎn)品、新工藝 PAGEREF _Toc84994502 h 48 HYPERLINK l _Toc84994503

8、四、上下游行業(yè)影響 PAGEREF _Toc84994503 h 53 HYPERLINK l _Toc84994504 五、國際市場動態(tài) PAGEREF _Toc84994504 h 60 HYPERLINK l _Toc84994505 六、汽車行業(yè)未來發(fā)展特點(diǎn) PAGEREF _Toc84994505 h 69 HYPERLINK l _Toc84994506 II汽車行業(yè)企業(yè)分析 PAGEREF _Toc84994506 h 77 HYPERLINK l _Toc84994507 一、企業(yè)整體情況分析 PAGEREF _Toc84994507 h 77 HYPERLINK l _Toc

9、84994508 二、三季度主要企業(yè)動態(tài)分析 PAGEREF _Toc84994508 h 80 HYPERLINK l _Toc84994509 III汽車市場產(chǎn)品分析 PAGEREF _Toc84994509 h 85 HYPERLINK l _Toc84994510 一、主要產(chǎn)品市場情況 PAGEREF _Toc84994510 h 85 HYPERLINK l _Toc84994511 二、主要產(chǎn)品生產(chǎn)情況 PAGEREF _Toc84994511 h 89 HYPERLINK l _Toc84994512 三、主要產(chǎn)品價格變動趨勢 PAGEREF _Toc84994512 h 89

10、HYPERLINK l _Toc84994513 IV我國汽車消費(fèi)信貸分析 PAGEREF _Toc84994513 h 95 HYPERLINK l _Toc84994514 一、個人汽車貸款管理辦法出臺 PAGEREF _Toc84994514 h 95 HYPERLINK l _Toc84994515 附件：汽車貸款管理辦法 PAGEREF _Toc84994515 h 96 HYPERLINK l _Toc84994516 二、汽車購置稅下調(diào) PAGEREF _Toc84994516 h 103 HYPERLINK l _Toc84994517 三、汽車金融公司獲得批準(zhǔn) PAGEREF

11、 _Toc84994517 h 103 HYPERLINK l _Toc84994518 V汽車行業(yè)區(qū)域熱點(diǎn)分析 PAGEREF _Toc84994518 h 107 HYPERLINK l _Toc84994519 一、雷諾轎車將落戶廣州 PAGEREF _Toc84994519 h 107 HYPERLINK l _Toc84994520 二、天津構(gòu)件汽車工業(yè)產(chǎn)業(yè)鏈 PAGEREF _Toc84994520 h 108 HYPERLINK l _Toc84994521 三、長安福特開發(fā)南京第二工廠 PAGEREF _Toc84994521 h 112上篇：汽車行業(yè)分析提要本報告如無特殊說明

12、數(shù)據(jù)均根據(jù)統(tǒng)計局2004年18月份數(shù)據(jù)整理計算而得，單位如無特殊說明均為萬元人民幣，本報告中全國特指該行業(yè)全國統(tǒng)計值，工業(yè)特指全部工業(yè)行業(yè)統(tǒng)計值。數(shù)據(jù)來源均為統(tǒng)計局。本報告如無特殊說明數(shù)據(jù)均根據(jù)統(tǒng)計局2004年18月份數(shù)據(jù)整理計算而得，單位如無特殊說明均為萬元人民幣，本報告中全國特指該行業(yè)全國統(tǒng)計值，工業(yè)特指全部工業(yè)行業(yè)統(tǒng)計值。數(shù)據(jù)來源均為統(tǒng)計局。 = 1 * ROMAN I行業(yè)進(jìn)入退出定性趨勢預(yù)測銀行進(jìn)行行業(yè)的進(jìn)入退出決策時要做定性和定量分析。定性分析通常主要考慮總的供需形勢、特別是前景預(yù)測。本“行業(yè)分析提要”部分以簡明扼要的方式將主要信息集中于一處，以利于讀者查閱、使用，得出這些信息的資料

13、均在“行業(yè)分析說明”中一一列出，以利于讀者做進(jìn)一步分析研究用。指標(biāo)數(shù)量同比增減供給生產(chǎn)總值65345163.70 萬元21%需求銷售收入64110947.70 萬元21%趨勢預(yù)測本期市場供求特點(diǎn)分析【主要影響因素】汽車價格和石油價格是影響汽車消費(fèi)的主要因素【結(jié)論】受石油價格的影響，SUV本季度銷售下降，轎車銷售也比去年同期下降，卡車銷售本季度較好。下期市場供求趨勢分析【主要影響因素】汽車價格、石油價格【結(jié)論】四季度汽車市場隨著汽車價格的下降和石油價格的回落，在銷售上可能會有起色。簡要結(jié)論長期來看，行業(yè)需求旺盛，建議進(jìn)入 = 2 * ROMAN II行業(yè)進(jìn)入/退出指標(biāo)分析現(xiàn)代行業(yè)分析理論認(rèn)為，行

14、業(yè)進(jìn)入與退出通常是由行業(yè)的利潤率、行業(yè)效率、行業(yè)規(guī)模和競爭程度來決定的，因此報告選擇這些指標(biāo)進(jìn)行定量分析；同時，為方便與行業(yè)內(nèi)的企業(yè)進(jìn)行比較，報告采用國際通用的企業(yè)財務(wù)分析指標(biāo)（贏利能力、營運(yùn)能力、償債能力和發(fā)展能力）來分析行業(yè)。一、行業(yè)平均利潤率分析行業(yè)平均利潤率是目前在銀行業(yè)普遍采用的一種簡捷分析指標(biāo)。對于低于行業(yè)平均利潤率水平的企業(yè)，可以考慮退出；反之，可以再做進(jìn)一步分析。報告中的計算公式為：行業(yè)平均利潤率=利潤/銷售收入。平均利潤率(%)與工業(yè)比較(%)與全行業(yè)比較(%)與top10比較(%)工業(yè)3.82%100.00%45.92%36.37%全國8.32%217.79%100.00%

15、79.20%Top1010.50%274.97%126.26%100.00%北京市7.08%185.36%85.11%67.41%天津市6.08%159.32%73.16%57.94%河北省8.39%219.71%100.88%79.90%山西省1.15%30.24%13.88%11.00%內(nèi)蒙-0.94%-24.74%-11.36%-9.00%遼寧省0.90%23.68%10.87%8.61%吉林省6.28%164.43%75.50%59.80%黑龍江省-4.59%-120.15%-55.17%-43.69%上海市17.49%457.97%210.28%166.55%江蘇省4.03%105.

16、60%48.48%38.40%浙江省6.68%175.06%80.38%63.66%安徽省4.49%117.67%54.03%42.79%福建省6.00%157.27%72.21%57.19%江西省4.40%115.21%52.90%41.90%山東省5.63%147.37%67.67%53.59%河南省4.60%120.51%55.33%43.82%湖北省6.93%181.42%83.30%65.98%湖南省3.80%99.58%45.72%36.22%廣東省16.08%421.23%193.41%153.19%廣西5.42%142.08%65.24%51.67%海南省2.86%74.84%

17、34.36%27.22%重慶市8.88%232.47%106.74%84.54%四川省4.03%105.57%48.47%38.39%貴州省1.29%33.91%15.57%12.33%云南省1.04%27.27%12.52%9.92%陜西省9.12%238.96%109.72%86.90%甘肅省-2.50%-65.43%-30.04%-23.79%青海省3.97%103.88%47.70%37.78%寧夏-1.92%-50.40%-23.14%-18.33%新疆-2.48%-64.87%-29.78%-23.59%二、企業(yè)主要指標(biāo)較好值、中間值和較差值注：該項指標(biāo)根據(jù)統(tǒng)計局2003年末全國1

18、8萬家工業(yè)企業(yè)統(tǒng)計數(shù)據(jù)計算整理而得，單位為千元，僅供參考。自然排序法三個值分別為序列中分別處1/4、2/4、3/4位置企業(yè)數(shù)值；算術(shù)平均法分別為所有企業(yè)平均水平、平均線上所有企業(yè)平均水平、平均線下所有企業(yè)水平。注：該項指標(biāo)根據(jù)統(tǒng)計局2003年末全國18萬家工業(yè)企業(yè)統(tǒng)計數(shù)據(jù)計算整理而得，單位為千元，僅供參考。自然排序法三個值分別為序列中分別處1/4、2/4、3/4位置企業(yè)數(shù)值；算術(shù)平均法分別為所有企業(yè)平均水平、平均線上所有企業(yè)平均水平、平均線下所有企業(yè)水平。 在實(shí)踐中，商業(yè)銀行還經(jīng)常將企業(yè)主要指標(biāo)進(jìn)一步分為較好值、中間值和較差值，用于更為細(xì)致地確定行業(yè)的進(jìn)入退出量化標(biāo)準(zhǔn)。凈資產(chǎn)（千元）利潤（千元

19、）自然排序法較好值22608.002502.00中間值5993.00480.00較差值1806.0012.00算術(shù)平均法較好值541612.83135073.43中間值71516.8512391.75較差值8485.58218.65三、行業(yè)規(guī)模分析銀行業(yè)普遍關(guān)心行業(yè)規(guī)模分析。因?yàn)樾袠I(yè)規(guī)模的大小從一個方面決定了該行業(yè)受政府、包括地方政府重視的程度，區(qū)域行業(yè)規(guī)模的大小一定程度上決定本地該行業(yè)在全國市場上的競爭地位。（一）本行業(yè)與整個工業(yè)之間的規(guī)?？偭勘容^規(guī)模指標(biāo)總資產(chǎn)利潤銷售收入從業(yè)人數(shù)全國90111576.35330941.864110947.71818257工業(yè)1845273544704522

20、58.5115213863959380176（二）行業(yè)內(nèi)各個地區(qū)與整個行業(yè)規(guī)模總量比較規(guī)模指標(biāo)資產(chǎn)總量及所占比重利潤總額及所占比重銷售收入及所占比重資產(chǎn)總量區(qū)域比全國(%)利潤總額區(qū)域比全國(%)銷售收入 區(qū)域比全國(%)全國90111576.3100.00%5330941.8100.00%64110947.70100.00%北京市3613665.54.01%284012.505.33%4013081.706.26%天津市2663559.22.96%112294.402.11%1846044.302.88%河北省1872193.22.08%107964.302.03%1287027.202.0

21、1%山西省351133.80.39%1753.600.03%151890.800.24%內(nèi)蒙440438.80.49%-1189.50-0.02%125909.200.20%遼寧省4357457.14.84%17908.800.34%1981246.703.09%吉林省11894129.413.20%564577.8010.59%8993326.7014.03%黑龍江省430743.50.48%-9460.00-0.18%206223.400.32%上海市1196760413.28%1731930.432.49%9905050.8015.45%江蘇省6417111.77.12%174371.7

22、03.27%4325114.406.75%浙江省5142450.25.71%244585.404.59%3659392.005.71%安徽省2999578.53.33%84473.101.58%1880305.902.93%福建省1417485.51.57%73602.101.38%1225776.901.91%江西省1933585.22.15%44836.300.84%1019327.601.59%山東省5210470.45.78%271105.805.09%4818357.707.52%河南省1315143.51.46%45260.400.85%983737.301.53%湖北省11337

23、835.712.58%373864.207.01%5397526.208.42%湖南省1393423.71.55%27731.800.52%729382.001.14%廣東省5112750.55.67%736154.9013.81%4577421.207.14%廣西19355362.15%98474.601.85%1815346.702.83%海南省508354.20.56%13697.000.26%479376.600.75%重慶市4292929.94.76%235343.904.41%2651615.904.14%四川省1522769.71.69%41207.600.77%1022340.

24、101.59%貴州省265443.70.29%1260.000.02%97322.500.15%云南省500574.70.56%2415.700.05%232007.600.36%陜西省989004.41.10%53946.001.01%591295.000.92%甘肅省69027.10.08%-382.40-0.01%15308.600.02%青海省36623.30.04%725.200.01%18284.600.03%寧夏7608.70.01%-32.800.00%1704.700.00%新疆112945.20.13%-1491.00-0.03%60203.400.09%全國9011157

25、6.3100.00%5330941.8100.00%64110947.70100.00%（三）本行業(yè)不同規(guī)模企業(yè)與整個行業(yè)之間的規(guī)?？偭勘容^規(guī)模指標(biāo)總資產(chǎn)利潤銷售收入從業(yè)人數(shù)全行業(yè)90111576533094264110947.71818257大型企業(yè)51671011342071237537049562294中型企業(yè)23252790126738816252307601005小型企業(yè)1518777564284210321591654958四、行業(yè)集中度分析行業(yè)集中度是衡量一個行業(yè)的主要財務(wù)指標(biāo)向行業(yè)核心企業(yè)集中程度的一個指標(biāo)，報告中用行業(yè)中排名前10位的企業(yè)占全行業(yè)主要財務(wù)指標(biāo)（銷售收入、資產(chǎn)、

26、利潤）的比例來表示。集中度不同的行業(yè)，其企業(yè)運(yùn)行方式與特點(diǎn)各不相同。銀行可以根據(jù)自己的市場定位和營銷戰(zhàn)略，采用對應(yīng)的舉措來管理和開發(fā)特點(diǎn)各異的細(xì)分市場。Top 10(%)銷售集中度34.32%資產(chǎn)集中度26.98%利潤集中度43.33%五、行業(yè)效率分析行業(yè)效率在一定程度上反映了行業(yè)發(fā)展速度，決定著行業(yè)未來的發(fā)展空間。每萬元資產(chǎn)利潤指標(biāo)用來衡量企業(yè)資產(chǎn)的贏利能力。每萬元資產(chǎn)利潤=利潤/總資產(chǎn)（單位萬元）。每萬元固定資產(chǎn)利潤指標(biāo)用來衡量企業(yè)固定資產(chǎn)的贏利能力。每萬元固定資產(chǎn)利潤=利潤/固定資產(chǎn)（單位萬元）。人均利潤指標(biāo)用來衡量企業(yè)員工的贏利能力。人均利潤=利潤/員工人數(shù)（單位人）。本行業(yè)效率與全部

27、工業(yè)行業(yè)效率對比單位：元本行業(yè)a全部工業(yè)行業(yè)b本行業(yè)與工業(yè)行業(yè)相比（%）每萬元資產(chǎn)利潤591.59381.80154.95%每萬元固定資產(chǎn)利潤2663.57997.40267.05%人均利潤29318.9711864.61247.11%分地區(qū)行業(yè)效率對比每萬元資產(chǎn)利潤地區(qū)比全國(%)每萬元固定資產(chǎn)利潤地區(qū)比全國(%)人均利潤與全國比較(%)全國591.59100.00%2663.57100.00%29318.97100.00%北京市785.94132.85%3504.23131.56%44373.49151.35%天津市421.6071.26%1602.9460.18%23602.1780.5

28、0%河北省576.6797.48%2775.98104.22%19988.2168.18%山西省49.948.44%161.636.07%893.783.05%內(nèi)蒙-27.01-4.57%-109.77-4.12%-2322.79-7.92%遼寧省41.106.95%181.226.80%2512.678.57%吉林省474.6780.24%2692.19101.07%34329.40117.09%黑龍江省-219.62-37.12%-712.96-26.77%-4657.80-15.89%上海市1447.18244.62%6878.72258.25%153448.78523.38%江蘇省27

29、1.7345.93%1022.1138.37%11393.0538.86%浙江省475.6280.40%2170.4081.48%13298.3245.36%安徽省281.6247.60%1212.8045.53%13418.0145.77%福建省519.2487.77%1938.5472.78%20114.8168.61%江西省231.8839.20%847.4831.82%10097.5834.44%山東省520.3187.95%2427.2891.13%17367.8959.24%河南省344.1558.17%1450.4054.45%9199.6431.38%湖北省329.7555.7

30、4%1520.3757.08%19643.8867.00%湖南省199.0233.64%929.7334.91%5705.6619.46%廣東省1439.84243.38%7162.89268.92%98285.03335.23%廣西508.7786.00%2586.8397.12%23275.1079.39%海南省269.4445.54%1662.1062.40%27149.6592.60%重慶市548.2192.67%2131.2380.01%28106.8195.87%四川省270.6145.74%1124.6442.22%6925.4123.62%貴州省47.478.02%128.02

31、4.81%1111.213.79%云南省48.268.16%165.896.23%1740.175.94%陜西省545.4692.20%2065.9577.56%16988.1957.94%甘肅省-55.40-9.36%-130.48-4.90%-678.50-2.31%青海省198.0233.47%586.8722.03%4495.9715.33%寧夏-43.11-7.29%-95.55-3.59%-630.77-2.15%新疆-132.01-22.31%-585.15-21.97%-4101.79-13.99%全國591.59100.00%2663.57100.00%29318.97100

32、.00%六、行業(yè)主要財務(wù)指標(biāo)分析（一）盈利能力分析贏利能力是指賺取利潤的能力，報告通過凈資產(chǎn)收益率、總資產(chǎn)報酬率、銷售利潤率、成本費(fèi)用利潤率等財務(wù)指標(biāo)來衡量。凈資產(chǎn)收益率是指企業(yè)一定時期內(nèi)的凈利潤同平均凈資產(chǎn)的比率。凈資產(chǎn)收益率體現(xiàn)了投資者投入企業(yè)的股權(quán)資金獲取凈收益的能力，突出反映了投資與收益的關(guān)系。凈資產(chǎn)收益率 = 凈利潤/平均凈資產(chǎn)100%。其中：平均凈資產(chǎn)=（年初凈資產(chǎn) + 年末凈資產(chǎn)）/2?？偖a(chǎn)報酬率是指企業(yè)一定時期內(nèi)獲得的報酬總額與平均資產(chǎn)總額的比率?？傎Y產(chǎn)報酬率用于衡量企業(yè)包括凈資產(chǎn)和負(fù)債在內(nèi)的全部資產(chǎn)的總體獲利能力。 總資產(chǎn)報酬率=（利潤總額+利息費(fèi)用）/平均資產(chǎn)總額100%。

33、銷售利稅率是指利稅總額與銷售凈收入的比率，它反映企業(yè)銷售收入的收益水平和貢獻(xiàn)程度。銷售利潤率（銷售利潤/產(chǎn)品銷售凈收入）100。成本費(fèi)用利潤率是企業(yè)一定時期的利潤總額同企業(yè)成本費(fèi)用總額的比率。成本費(fèi)用利潤率表示企業(yè)為取得利潤而付出的代價，從企業(yè)支出方面評價企業(yè)的收益能力。成本費(fèi)用利潤率=利潤總額/成本費(fèi)用總額100%。本行業(yè)盈利能力與全部工業(yè)行業(yè)盈利能力對比本行業(yè)A工業(yè)行業(yè)B本行業(yè)與工業(yè)相比a/b（%）凈資產(chǎn)收益率（%）8.85%6.31%140.25%總資產(chǎn)報酬率（%）6.33%4.63%136.72%銷售利潤率（%）15.72%7.33%214.46%成本費(fèi)用利潤率（%）9.08%6.61

34、%137.37%分地區(qū)行業(yè)盈利能力對比凈資產(chǎn)收益率（%）地區(qū)比全國（%）總資產(chǎn)報酬率（%）地區(qū)比全國(%)銷售利潤率（%）地區(qū)比全國（%）成本費(fèi)用利潤率（%）地區(qū)比全國（%）全國8.85%100.00%6.33%100.00%15.72%100.00%9.08%100.00%北京市13.56%153.17%8.19%129.45%13.31%84.67%7.71%84.92%天津市5.58%63.07%4.68%73.97%11.88%75.60%6.59%72.61%河北省8.23%92.97%6.31%99.79%14.65%93.18%9.01%99.18%山西省1.36%15.36%1

35、.53%24.10%15.36%97.71%1.14%12.52%內(nèi)蒙-0.40%-4.50%0.51%8.01%11.88%75.60%-0.92%-10.14%遼寧省0.97%11.00%0.88%13.87%12.33%78.45%0.92%10.15%吉林省8.09%91.34%5.30%83.72%11.70%74.46%6.66%73.32%黑龍江省20.31%229.39%-0.69%-10.98%10.90%69.37%-4.38%-48.21%上海市15.42%174.10%14.29%225.77%23.21%147.65%21.33%234.84%江蘇省4.31%48.6

36、7%3.37%53.26%14.53%92.43%4.24%46.64%浙江省7.24%81.78%5.87%92.80%14.68%93.38%7.08%77.91%安徽省5.59%63.17%3.00%47.48%14.86%94.56%4.73%52.05%福建省6.87%77.60%5.70%90.01%14.16%90.11%6.45%70.99%江西省4.24%47.84%2.78%43.88%16.67%106.07%4.65%51.17%山東省10.02%113.21%5.80%91.73%11.79%75.02%6.04%66.46%河南省7.13%80.51%4.38%69

37、.23%14.58%92.75%4.83%53.15%湖北省4.29%48.42%3.50%55.33%13.46%85.66%7.16%78.83%湖南省4.01%45.28%2.95%46.58%11.51%73.24%3.88%42.74%廣東省20.38%230.21%14.64%231.42%22.95%146.02%19.76%217.60%廣西8.56%96.63%5.48%86.68%16.17%102.89%5.75%63.30%海南省5.34%60.27%3.80%60.00%6.50%41.38%3.06%33.64%重慶市6.62%74.76%5.69%89.95%18

38、.90%120.23%9.74%107.25%四川省4.57%51.60%3.35%52.99%12.20%77.63%4.23%46.52%貴州省1.20%13.55%1.23%19.46%18.47%117.48%1.30%14.34%云南省0.73%8.25%1.14%18.08%11.82%75.20%1.04%11.50%陜西省10.39%117.33%6.15%97.25%18.77%119.43%10.02%110.36%甘肅省-1.06%-11.95%0.29%4.55%14.35%91.31%-2.44%-26.86%青海省3.05%34.46%2.62%41.37%19.9

39、4%126.88%4.34%47.75%寧夏-1.35%-15.20%0.54%8.54%25.17%160.09%-1.99%-21.86%新疆-3.40%-38.44%-0.84%-13.30%7.09%45.12%-2.37%-26.11%（二）營運(yùn)能力分析營運(yùn)能力是指運(yùn)用各種經(jīng)濟(jì)資源從事生產(chǎn)經(jīng)營活動的能力，也即資金周轉(zhuǎn)能力或資產(chǎn)管理效率。報告采用總資產(chǎn)周轉(zhuǎn)率、流動資產(chǎn)周轉(zhuǎn)率、應(yīng)收帳款周轉(zhuǎn)率來衡量。總資產(chǎn)周轉(zhuǎn)率是指企業(yè)一定時期營業(yè)收入總額同平均資產(chǎn)總額的比值?？傎Y產(chǎn)周轉(zhuǎn)率是綜合評價企業(yè)全部資產(chǎn)經(jīng)營質(zhì)量和利用效率的重要指標(biāo)?？傎Y產(chǎn)周轉(zhuǎn)率=營業(yè)收入總額/平均資產(chǎn)總額100%。此指標(biāo)是衡量企業(yè)

40、營運(yùn)能力的指標(biāo)之一，流動資產(chǎn)周轉(zhuǎn)率=營業(yè)收入/平均流動資產(chǎn)100%。應(yīng)收賬款周轉(zhuǎn)率是指企業(yè)一定時期內(nèi)主營業(yè)務(wù)收入凈額同應(yīng)收賬款平均余額的比率。應(yīng)收賬款周轉(zhuǎn)率是反映企業(yè)應(yīng)收帳款回收情況的指標(biāo)。 應(yīng)收賬款周轉(zhuǎn)率=營業(yè)收入凈額/應(yīng)收賬款平均余額 100%。本行業(yè)營運(yùn)能力與全部工業(yè)行業(yè)營運(yùn)能力對比本行業(yè)A工業(yè)B與全部工業(yè)行業(yè)相比a/b（%）總資產(chǎn)周轉(zhuǎn)率（次）0.710.621.14流動資產(chǎn)周轉(zhuǎn)率（次）1.281.390.92應(yīng)收賬款周轉(zhuǎn)率（次）5.775.531.04分地區(qū)行業(yè)營運(yùn)能力對比總資產(chǎn)周轉(zhuǎn)率（次）與全國比較（%）流動資產(chǎn)周轉(zhuǎn)率（次）與全國比較（%）應(yīng)收賬款周轉(zhuǎn)率（次）與全國比較（%）全國0.

41、71100.00%1.28100.00%5.77100.00%北京市1.11156.09%1.93150.17%10.45180.99%天津市0.6997.42%1.2194.07%2.7447.40%河北省0.6996.62%1.1891.86%5.6898.47%山西省0.4360.80%0.7659.05%2.5043.36%內(nèi)蒙0.2940.18%0.5140.14%1.6829.16%遼寧省0.4563.91%0.7558.33%4.0069.37%吉林省0.76106.28%1.41110.17%4.3274.76%黑龍江省0.4867.29%1.0380.49%3.4359.49

42、%上海市0.83116.33%1.31102.47%9.56165.60%江蘇省0.6794.73%1.2798.69%4.6480.42%浙江省0.71100.02%1.36106.19%4.3575.29%安徽省0.6388.11%1.1287.11%6.92119.96%福建省0.86121.55%1.39108.52%6.19107.18%江西省0.5374.10%0.9573.80%7.36127.59%山東省0.92129.98%1.60124.62%7.57131.20%河南省0.75105.14%1.2396.16%5.0287.04%湖北省0.4866.91%1.1186.6

43、2%6.87118.96%湖南省0.5273.57%1.0077.64%3.6863.68%廣東省0.90125.84%1.45113.36%9.16158.64%廣西0.94131.83%1.46113.55%5.6898.48%海南省0.94132.54%1.28100.11%19.60339.64%重慶市0.6286.82%1.1388.24%5.2090.09%四川省0.6794.36%1.2497.05%4.8784.29%貴州省0.3751.53%0.7961.91%2.5844.69%云南省0.4665.15%1.0682.45%10.02173.62%陜西省0.6084.03%

44、1.0985.09%3.7164.21%甘肅省0.2231.17%0.5542.81%1.4825.56%青海省0.5070.17%1.0581.96%5.99103.83%寧夏0.2231.49%0.4434.08%1.7830.90%新疆0.5374.92%0.8263.83%4.2774.06%（三）償債能力分析償債能力是指償還各種債務(wù)的能力，通過償債能力的分析可以揭示企業(yè)的財務(wù)狀況及財務(wù)分析。報告采用資產(chǎn)負(fù)債率、已獲利息倍數(shù)來衡量。資產(chǎn)負(fù)債率是指企業(yè)一定時期負(fù)債總額同資產(chǎn)總額的比率。資產(chǎn)負(fù)債率用來衡量企業(yè)總資產(chǎn)中有多少是通過負(fù)債籌集的；資產(chǎn)負(fù)債率的計算公式如下：資產(chǎn)負(fù)債率 =負(fù)債總額/

45、資產(chǎn)總額100%。已獲利息倍數(shù)又稱利息保障倍數(shù)，反映了獲利能力對債務(wù)償付的保證程度，是分析企業(yè)長期償債能力的指標(biāo)。已獲利息倍數(shù)=稅前利潤總額/利息支出100%。本行業(yè)償債能力與全部工業(yè)行業(yè)償債能力對比本行業(yè)A全部工業(yè)行業(yè)B與全部工業(yè)行業(yè)相比a/b資產(chǎn)負(fù)債率55.24%59.45%0.92已獲利息倍數(shù)15.385.712.69分地區(qū)行業(yè)償債能力對比資產(chǎn)負(fù)債率（%）與全國比較（%）已獲利息倍數(shù)與全國比較（%）全國55.24%100.00%15.38100.00%北京市61.17%110.75%24.73160.82%天津市49.42%89.46%10.0865.53%河北省53.07%96.07%

46、11.5375.01%山西省75.40%136.51%1.499.67%內(nèi)蒙54.62%98.88%0.654.24%遼寧省71.72%129.85%1.8812.23%吉林省60.68%109.85%9.6262.56%黑龍江省107.24%194.16%-0.46-3.01%上海市37.10%67.17%-76.76-499.21%江蘇省57.75%104.55%5.1633.59%浙江省55.99%101.37%5.2634.24%安徽省66.27%119.97%15.99103.97%福建省49.37%89.38%11.3273.64%江西省63.32%114.64%6.0739.46

47、%山東省65.22%118.08%9.6662.82%河南省67.66%122.48%4.6630.33%湖北省48.47%87.74%17.23112.05%湖南省66.74%120.83%3.0820.03%廣東省52.68%95.36%59.95389.89%廣西60.16%108.91%13.8189.80%海南省66.17%119.80%3.4522.40%重慶市44.51%80.58%27.17176.69%四川省60.32%109.21%5.1833.71%貴州省73.49%133.05%1.6310.58%云南省55.75%100.93%1.7311.25%陜西省64.82%1

48、17.35%8.8157.27%甘肅省64.92%117.54%0.342.22%青海省56.51%102.31%4.1126.70%寧夏78.54%142.19%0.563.62%新疆74.02%134.00%-1.76-11.43%（四）發(fā)展能力分析發(fā)展能力是指不斷發(fā)展的能力。通過發(fā)展能力分析可以了解發(fā)展變化情況，并可以預(yù)測發(fā)展前景。報告中采用資本積累率、銷售增長率、總資產(chǎn)增長率來衡量。資本積累率是指企業(yè)本年所有者權(quán)益增長額同年初所有者權(quán)益的比率。資本積累率表示企業(yè)當(dāng)年資本的積累能力，是評價企業(yè)發(fā)展?jié)摿Φ闹匾笜?biāo)。資本積累率本年所有者權(quán)益增長額/年初所有者權(quán)益100%。銷售（營業(yè)）增長率是

49、指企業(yè)本年銷售（營業(yè)）收入增長額同上年銷售（營業(yè)）收入總額的比率。銷售（營業(yè)）增長率表示與上年相比，企業(yè)銷售（營業(yè)）收入的增減變動情況，是評價企業(yè)成長狀況和發(fā)展能力的重要指標(biāo)。銷售（營業(yè)）增長率本年銷售增長額/上年銷售收入總額l00%。此比率是衡量企業(yè)發(fā)展能力的指標(biāo)之一?？傎Y產(chǎn)增長率=本年總資產(chǎn)增長額/年初資產(chǎn)總額100%。本行業(yè)發(fā)展能力與全部工業(yè)行業(yè)發(fā)展能力對比本行業(yè)A全部工業(yè)行業(yè)B與全部工業(yè)行業(yè)相比a/b（%）資本積累率23.30%15.20%153%銷售增長率20.96%32.63%64%總資產(chǎn)增長率20.52%16.79%122%分地區(qū)行業(yè)發(fā)展能力對比資本積累率（%）與全國比較（%）銷

50、售增長率（%）與全國比較（%）總資產(chǎn)增長率(%)與全國比較(%)全國23.30%100.00%20.96%100.00%20.52%100.00%北京市43.39%186.22%72.55%346.14%42.79%208.53%天津市30.48%130.82%30.68%146.37%21.06%102.63%河北省43.77%187.85%25.98%123.95%25.82%125.83%山西省-2.27%-9.74%23.39%111.59%6.96%33.92%內(nèi)蒙-1.52%-6.52%46.00%219.47%21.92%106.82%遼寧省14.67%62.96%11.82%5

51、6.39%32.87%160.19%吉林省12.44%53.39%10.94%52.19%15.05%73.34%黑龍江省59.76%256.48%-4.90%-23.38%7.76%37.82%上海市21.93%94.12%12.45%59.40%15.02%73.20%江蘇省13.79%59.18%13.49%64.36%17.25%84.06%浙江省31.20%133.91%27.71%132.20%28.48%138.79%安徽省16.88%72.45%26.48%126.34%23.30%113.55%福建省15.48%66.44%6.47%30.87%15.63%76.17%江西省

52、12.29%52.75%10.65%50.81%8.52%41.52%山東省37.45%160.73%31.49%150.24%25.92%126.32%河南省16.27%69.83%32.12%153.24%22.75%110.87%湖北省29.82%127.98%15.20%72.52%18.63%90.79%湖南省44.77%192.15%6.68%31.87%25.85%125.97%廣東省41.89%179.79%26.65%127.15%30.74%149.81%廣西14.46%62.06%27.69%132.11%19.70%96.00%海南省18.45%79.18%-0.81%

53、-3.86%21.45%104.53%重慶市14.13%60.64%28.57%136.31%16.04%78.17%四川省27.49%117.98%50.94%243.03%20.59%100.34%貴州省-11.42%-49.01%19.44%92.75%-0.07%-0.34%云南省22.79%97.81%-2.27%-10.83%15.39%75.00%陜西省26.94%115.62%29.67%141.56%24.18%117.84%甘肅省18.27%78.41%39.52%188.55%7.08%34.50%青海省9.03%38.76%-4.24%-20.23%15.06%73.3

54、9%寧夏-13.33%-57.21%89.12%425.19%-6.63%-32.31%新疆10.32%44.29%23.93%114.17%-17.47%-85.14%七、投入產(chǎn)出結(jié)構(gòu)分析（一）投入費(fèi)用變動情況銷售成本及變動銷售費(fèi)用及變動管理費(fèi)用及變動2004年18月同比增長（%）2004年18月同比增長（%）2004年18月同比增長（%）全國52894321.4023.67%2084115.5028.47%3343885.1010.80%北京市3399855.3079.13%128231.7061.91%142296.2032.80%天津市1582993.7040.35%20639.50-

55、49.30%86806.3045.59%河北省1087514.6029.88%45601.5029.87%55154.0023.53%山西省127923.6030.41%8403.9054.53%14233.007.47%內(nèi)蒙110846.3057.12%5518.006.78%9430.809.24%遼寧省1698756.9016.94%97348.2010.04%125589.6028.66%吉林省7670632.9015.88%182277.8012.77%559656.704.98%黑龍江省183151.10-1.81%10538.208.44%15878.70-35.37%上海市73

56、23883.9012.90%262592.5055.08%555580.305.04%江蘇省3660605.9014.24%171064.9013.39%242605.0012.55%浙江省3102879.3028.26%109533.6027.79%186540.6026.42%安徽省1565513.1030.47%97375.6017.42%118212.40-6.38%福建省1035984.309.59%56126.406.78%42250.405.00%江西省831311.6015.07%55797.609.57%68773.30-14.06%山東省4214988.0030.08%92

57、782.1041.52%152409.8014.22%河南省834225.0035.26%45743.1050.98%45163.205.94%湖北省4650210.5019.73%213187.3053.41%334946.307.33%湖南省634149.7013.22%22268.6016.40%44647.50-4.52%廣東省3420913.7028.18%130406.7030.86%160864.9010.89%廣西1503341.1028.66%93249.0022.49%108384.7021.58%海南省426931.90-1.03%11709.7020.05%4037.0

58、0-43.71%重慶市2093558.3028.62%160172.1046.28%153274.6039.66%四川省889680.1051.93%25119.708.76%50589.6019.16%貴州省78817.9020.46%5064.809.16%10817.303.94%云南省203773.20-0.63%8941.40-23.95%15275.801.08%陜西省477202.2025.43%21824.1059.61%32252.7014.19%甘肅省13048.4044.12%334.50-3.93%1713.10-10.81%青海省14577.40-9.85%863.0

59、03.34%1048.20-1.35%寧夏1272.6091.17%128.5071.11%176.90-6.80%新疆55778.9027.83%1271.5014.49%5276.20-1.35%財務(wù)費(fèi)用及變動成本費(fèi)用及變動2004年18月同比增長（%）2004年18月同比增長（%）全國370805.206.11%58693127.2022.89%北京市11969.30-17.83%3682352.5075.44%天津市12372.909.17%1702812.4037.37%河北省10249.3019.38%1198519.4029.48%山西省3601.400.89%154161.90

60、28.10%內(nèi)蒙3421.608.39%129216.7047.67%遼寧省20337.70-13.05%1942032.4016.84%吉林省65501.4078.39%8478068.8015.33%黑龍江省6467.307.93%216035.30-4.75%上海市-22272.10-31.98%8119784.6013.27%江蘇省41871.5018.44%4116147.3014.14%浙江省57357.8077.72%3456311.3028.74%安徽省5636.60-37.77%1786737.7025.99%福建省7129.8072.02%1141490.909.52%江西