189/193目錄TOC\o"1-2"\h\z上篇：汽車(chē)行業(yè)分析提要 1I行業(yè)進(jìn)入／退出定性趨勢(shì)預(yù)測(cè) 1II行業(yè)進(jìn)入/退出指標(biāo)分析 2一、行業(yè)平均利潤(rùn)率分析 2二、企業(yè)要緊指標(biāo)較好值、中間值和較差值 3三、行業(yè)規(guī)模分析 3四、行業(yè)集中度分析 5五、行業(yè)效率分析 6六、行業(yè)要緊財(cái)務(wù)指標(biāo)分析 7（一）盈利能力分析 7（二）營(yíng)運(yùn)能力分析 9（三）償債能力分析 10（四）進(jìn)展能力分析 11七、投入產(chǎn)出結(jié)構(gòu)分析 13八、行業(yè)經(jīng)濟(jì)運(yùn)行指標(biāo) 17III行業(yè)風(fēng)險(xiǎn)揭示、政策分析及負(fù)面信息 19一、風(fēng)險(xiǎn)揭示 19二、政策分析 19三、負(fù)面信息 21IV行業(yè)動(dòng)態(tài)跟蹤分析評(píng)價(jià) 22一、行業(yè)及上下游運(yùn)行情況 22二、行業(yè)強(qiáng)勢(shì)、弱勢(shì)、機(jī)會(huì)與風(fēng)險(xiǎn)（SWOT） 22三、貸款建議 23V龍頭/重點(diǎn)聯(lián)系企業(yè)分析 24一、龍頭/重點(diǎn)聯(lián)系企業(yè)財(cái)務(wù)指標(biāo) 24二、企業(yè)在全國(guó)各地的分布 24VI資本市場(chǎng)分析 26下篇：汽車(chē)行業(yè)分析講明 27I行業(yè)分析 27一、行業(yè)運(yùn)行分析 27二、行業(yè)政策分析 27附件：新汽車(chē)產(chǎn)業(yè)進(jìn)展政策 29三、新技術(shù)、新產(chǎn)品、新工藝 48四、上下游行業(yè)阻礙 53五、國(guó)際市場(chǎng)動(dòng)態(tài) 60六、汽車(chē)行業(yè)以后進(jìn)展特點(diǎn) 69II汽車(chē)行業(yè)企業(yè)分析 77一、企業(yè)整體情況分析 77二、三季度要緊企業(yè)動(dòng)態(tài)分析 80III汽車(chē)市場(chǎng)產(chǎn)品分析 85一、要緊產(chǎn)品市場(chǎng)情況 85二、要緊產(chǎn)品生產(chǎn)情況 89三、要緊產(chǎn)品價(jià)格變動(dòng)趨勢(shì) 89IV我國(guó)汽車(chē)消費(fèi)信貸分析 95一、《個(gè)人汽車(chē)貸款治理方法》出臺(tái) 95附件：汽車(chē)貸款治理方法 96二、汽車(chē)購(gòu)置稅下調(diào) 103三、汽車(chē)金融公司獲得批準(zhǔn) 103V汽車(chē)行業(yè)區(qū)域熱點(diǎn)分析 107一、雷諾轎車(chē)將落戶廣州 107二、天津構(gòu)件汽車(chē)工業(yè)產(chǎn)業(yè)鏈 108三、長(zhǎng)安福特開(kāi)發(fā)南京第二工廠 112上篇：汽車(chē)行業(yè)分析提要本報(bào)告如無(wú)專(zhuān)門(mén)講明數(shù)據(jù)均依照統(tǒng)計(jì)局2004年1～8月份數(shù)據(jù)整理計(jì)算而得，單位如無(wú)專(zhuān)門(mén)講明均為萬(wàn)元人民幣，本報(bào)告中全國(guó)特指該行業(yè)全國(guó)統(tǒng)計(jì)值，工業(yè)特指全部工業(yè)行業(yè)統(tǒng)計(jì)值。數(shù)據(jù)來(lái)源均為統(tǒng)計(jì)局。本報(bào)告如無(wú)專(zhuān)門(mén)講明數(shù)據(jù)均依照統(tǒng)計(jì)局2004年1～8月份數(shù)據(jù)整理計(jì)算而得，單位如無(wú)專(zhuān)門(mén)講明均為萬(wàn)元人民幣，本報(bào)告中全國(guó)特指該行業(yè)全國(guó)統(tǒng)計(jì)值，工業(yè)特指全部工業(yè)行業(yè)統(tǒng)計(jì)值。數(shù)據(jù)來(lái)源均為統(tǒng)計(jì)局。=1\*ROMANI行業(yè)進(jìn)入／退出定性趨勢(shì)預(yù)測(cè)銀行進(jìn)行行業(yè)的進(jìn)入／退出決策時(shí)要做定性和定量分析。定性分析通常要緊考慮總的供需形勢(shì)、特不是前景預(yù)測(cè)。本“行業(yè)分析提要”部分以簡(jiǎn)明扼要的方式將要緊信息集中于一處，以利于讀者查閱、使用，得出這些信息的資料均在“行業(yè)分析講明”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(wàn)元21%需求銷(xiāo)售收入64110947.70萬(wàn)元21%趨勢(shì)預(yù)測(cè)本期市場(chǎng)供求特點(diǎn)分析【要緊阻礙因素】汽車(chē)價(jià)格和石油價(jià)格是阻礙汽車(chē)消費(fèi)的要緊因素【結(jié)論】受石油價(jià)格的阻礙，SUV本季度銷(xiāo)售下降，轎車(chē)銷(xiāo)售也比去年同期下降，卡車(chē)銷(xiāo)售本季度較好。下期市場(chǎng)供求趨勢(shì)分析【要緊阻礙因素】汽車(chē)價(jià)格、石油價(jià)格【結(jié)論】四季度汽車(chē)市場(chǎng)隨著汽車(chē)價(jià)格的下降和石油價(jià)格的回落，在銷(xiāo)售上可能會(huì)有起色。簡(jiǎn)要結(jié)論長(zhǎng)期來(lái)看，行業(yè)需求旺盛，建議進(jìn)入=2\*ROMANII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，行業(yè)進(jìn)入與退出通常是由行業(yè)的利潤(rùn)率、行業(yè)效率、行業(yè)規(guī)模和競(jìng)爭(zhēng)程度來(lái)決定的，因此報(bào)告選擇這些指標(biāo)進(jìn)行定量分析；同時(shí)，為方便與行業(yè)內(nèi)的企業(yè)進(jìn)行比較，報(bào)告采納國(guó)際通用的企業(yè)財(cái)務(wù)分析指標(biāo)（贏利能力、營(yíng)運(yùn)能力、償債能力和進(jìn)展能力）來(lái)分析行業(yè)。一、行業(yè)平均利潤(rùn)率分析行業(yè)平均利潤(rùn)率是目前在銀行業(yè)普遍采納的一種簡(jiǎn)捷分析指標(biāo)。關(guān)于低于行業(yè)平均利潤(rùn)率水平的企業(yè)，能夠考慮退出；反之，能夠再做進(jìn)一步分析。報(bào)告中的計(jì)算公式為：行業(yè)平均利潤(rùn)率=利潤(rùn)/銷(xiāo)售收入。平均利潤(rùn)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(guó)8.32%217.79%100.00%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%105.60%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%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)要緊指標(biāo)較好值、中間值和較差值注：該項(xiàng)指標(biāo)依照統(tǒng)計(jì)局2003年末全國(guó)18萬(wàn)家工業(yè)企業(yè)統(tǒng)計(jì)數(shù)據(jù)計(jì)算整理而得，單位為千元，僅供參考。自然排序法三個(gè)值分不為序列中分不處1/4、2/4、3/4位置企業(yè)數(shù)值；算術(shù)平均法分不為所有企業(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(xiàng)指標(biāo)依照統(tǒng)計(jì)局2003年末全國(guó)18萬(wàn)家工業(yè)企業(yè)統(tǒng)計(jì)數(shù)據(jù)計(jì)算整理而得，單位為千元，僅供參考。自然排序法三個(gè)值分不為序列中分不處1/4、2/4、3/4位置企業(yè)數(shù)值；算術(shù)平均法分不為所有企業(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)要緊指標(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(rùn)（千元）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8485.58－218.65三、行業(yè)規(guī)模分析銀行業(yè)普遍關(guān)懷行業(yè)規(guī)模分析。因?yàn)樾袠I(yè)規(guī)模的大小從一個(gè)方面決定了該行業(yè)受政府、包括地點(diǎn)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(guó)市場(chǎng)上的競(jìng)爭(zhēng)地位。（一）本行業(yè)與整個(gè)工業(yè)之間的規(guī)模總量比較規(guī)模指標(biāo)總資產(chǎn)利潤(rùn)銷(xiāo)售收入從業(yè)人數(shù)全國(guó)90111576.35330941.864110947.71818257工業(yè)184527354470452258.5115213863959380176（二）行業(yè)內(nèi)各個(gè)地區(qū)與整個(gè)行業(yè)規(guī)?？偭勘容^規(guī)模指標(biāo)資產(chǎn)總量及所占比重利潤(rùn)總額及所占比重銷(xiāo)售收入及所占比重資產(chǎn)總量區(qū)域比全國(guó)(%)利潤(rùn)總額區(qū)域比全國(guó)(%)銷(xiāo)售收入?yún)^(qū)域比全國(guó)(%)全國(guó)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%1287027.202.01%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%174371.703.27%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11337835.712.58%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%1022340.101.59%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(guó)90111576.3100.00%5330941.8100.00%64110947.70100.00%（三）本行業(yè)不同規(guī)模企業(yè)與整個(gè)行業(yè)之間的規(guī)?？偭勘容^規(guī)模指標(biāo)總資產(chǎn)利潤(rùn)銷(xiāo)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(gè)行業(yè)的要緊財(cái)務(wù)指標(biāo)向行業(yè)核心企業(yè)集中程度的一個(gè)指標(biāo)，報(bào)告中用行業(yè)中排名前10位的企業(yè)占全行業(yè)要緊財(cái)務(wù)指標(biāo)（銷(xiāo)售收入、資產(chǎn)、利潤(rùn)）的比例來(lái)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。銀行能夠依照自己的市場(chǎng)定位和營(yíng)銷(xiāo)戰(zhàn)略，采納對(duì)應(yīng)的舉措來(lái)治理和開(kāi)發(fā)特點(diǎn)各異的細(xì)分市場(chǎng)。Top10(%)銷(xiāo)售集中度34.32%資產(chǎn)集中度26.98%利潤(rùn)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)進(jìn)展速度，決定著行業(yè)以后的進(jìn)展空間。每萬(wàn)元資產(chǎn)利潤(rùn)指標(biāo)用來(lái)衡量企業(yè)資產(chǎn)的贏利能力。每萬(wàn)元資產(chǎn)利潤(rùn)=利潤(rùn)/總資產(chǎn)（單位萬(wàn)元）。每萬(wàn)元固定資產(chǎn)利潤(rùn)指標(biāo)用來(lái)衡量企業(yè)固定資產(chǎn)的贏利能力。每萬(wàn)元固定資產(chǎn)利潤(rùn)=利潤(rùn)/固定資產(chǎn)（單位萬(wàn)元）。人均利潤(rùn)指標(biāo)用來(lái)衡量企業(yè)職員的贏利能力。人均利潤(rùn)=利潤(rùn)/職員人數(shù)（單位人）。本行業(yè)效率與全部工業(yè)行業(yè)效率對(duì)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(wàn)元資產(chǎn)利潤(rùn)591.59381.80154.95%每萬(wàn)元固定資產(chǎn)利潤(rùn)2663.57997.40267.05%人均利潤(rùn)29318.9711864.61247.11%分地區(qū)行業(yè)效率對(duì)比每萬(wàn)元資產(chǎn)利潤(rùn)地區(qū)比全國(guó)(%)每萬(wàn)元固定資產(chǎn)利潤(rùn)地區(qū)比全國(guó)(%)人均利潤(rùn)與全國(guó)比較(%)全國(guó)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%23602.1780.50%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271.7345.93%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329.7555.74%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%128.024.81%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(guó)591.59100.00%2663.57100.00%29318.97100.00%六、行業(yè)要緊財(cái)務(wù)指標(biāo)分析（一）盈利能力分析贏利能力是指賺取利潤(rùn)的能力，報(bào)告通過(guò)凈資產(chǎn)收益率、總資產(chǎn)酬勞率、銷(xiāo)售利潤(rùn)率、成本費(fèi)用利潤(rùn)率等財(cái)務(wù)指標(biāo)來(lái)衡量。凈資產(chǎn)收益率是指企業(yè)一定時(shí)期內(nèi)的凈利潤(rùn)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)資金獵取凈收益的能力，突出反映了投資與收益的關(guān)系。凈資產(chǎn)收益率=凈利潤(rùn)/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)酬勞率是指企業(yè)一定時(shí)期內(nèi)獲得的酬勞總額與平均資產(chǎn)總額的比率?？傎Y產(chǎn)酬勞率用于衡量企業(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)酬勞率=（利潤(rùn)總額+利息費(fèi)用）/平均資產(chǎn)總額×100%。

銷(xiāo)售利稅率是指利稅總額與銷(xiāo)售凈收入的比率，它反映企業(yè)銷(xiāo)售收入的收益水平和貢獻(xiàn)程度。銷(xiāo)售利潤(rùn)率＝（銷(xiāo)售利潤(rùn)/產(chǎn)品銷(xiāo)售凈收入）×100﹪。成本費(fèi)用利潤(rùn)率是企業(yè)一定時(shí)期的利潤(rùn)總額同企業(yè)成本費(fèi)用總額的比率。成本費(fèi)用利潤(rùn)率表示企業(yè)為取得利潤(rùn)而付出的代價(jià)，從企業(yè)支出方面評(píng)價(jià)企業(yè)的收益能力。成本費(fèi)用利潤(rùn)率=利潤(rùn)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(duì)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)酬勞率（%）6.33%4.63%136.72%銷(xiāo)售利潤(rùn)率（%）15.72%7.33%214.46%成本費(fèi)用利潤(rùn)率（%）9.08%6.61%137.37%分地區(qū)行業(yè)盈利能力對(duì)比凈資產(chǎn)收益率（%）地區(qū)比全國(guó)（%）總資產(chǎn)酬勞率（%）地區(qū)比全國(guó)(%)銷(xiāo)售利潤(rùn)率（%）地區(qū)比全國(guó)（%）成本費(fèi)用利潤(rùn)率（%）地區(qū)比全國(guó)（%）全國(guó)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%1.53%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%48.67%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%69.23%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%18.90%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%19.94%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(yíng)運(yùn)能力分析營(yíng)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(yíng)活動(dòng)的能力，也即資金周轉(zhuǎn)能力或資產(chǎn)治理效率。報(bào)告采納總資產(chǎn)周轉(zhuǎn)率、流淌資產(chǎn)周轉(zhuǎn)率、應(yīng)收帳款周轉(zhuǎn)率來(lái)衡量?？傎Y產(chǎn)周轉(zhuǎn)率是指企業(yè)一定時(shí)期營(yíng)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(píng)價(jià)企業(yè)全部資產(chǎn)經(jīng)營(yíng)質(zhì)量和利用效率的重要指標(biāo)。總資產(chǎn)周轉(zhuǎn)率=營(yíng)業(yè)收入總額/平均資產(chǎn)總額×100%。此指標(biāo)是衡量企業(yè)營(yíng)運(yùn)能力的指標(biāo)之一，流淌資產(chǎn)周轉(zhuǎn)率=營(yíng)業(yè)收入/平均流淌資產(chǎn)×100%。應(yīng)收賬款周轉(zhuǎn)率是指企業(yè)一定時(shí)期內(nèi)主營(yíng)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(yíng)業(yè)收入凈額/應(yīng)收賬款平均余額×100%。本行業(yè)營(yíng)運(yùn)能力與全部工業(yè)行業(yè)營(yíng)運(yùn)能力對(duì)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流淌資產(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(yíng)運(yùn)能力對(duì)比總資產(chǎn)周轉(zhuǎn)率（次）與全國(guó)比較（%）流淌資產(chǎn)周轉(zhuǎn)率（次）與全國(guó)比較（%）應(yīng)收賬款周轉(zhuǎn)率（次）與全國(guó)比較（%）全國(guó)0.71100.00%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%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%1.1186.62%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%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(guò)償債能力的分析能夠揭示企業(yè)的財(cái)務(wù)狀況及財(cái)務(wù)分析。報(bào)告采納資產(chǎn)負(fù)債率、已獲利息倍數(shù)來(lái)衡量。資產(chǎn)負(fù)債率是指企業(yè)一定時(shí)期負(fù)債總額同資產(chǎn)總額的比率。資產(chǎn)負(fù)債率用來(lái)衡量企業(yè)總資產(chǎn)中有多少是通過(guò)負(fù)債籌集的；資產(chǎn)負(fù)債率的計(jì)算公式如下：資產(chǎn)負(fù)債率=負(fù)債總額/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(duì)債務(wù)償付的保證程度，是分析企業(yè)長(zhǎng)期償債能力的指標(biāo)。已獲利息倍數(shù)=稅前利潤(rùn)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(duì)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(duì)比資產(chǎn)負(fù)債率（%）與全國(guó)比較（%）已獲利息倍數(shù)與全國(guó)比較（%）全國(guó)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%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%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%117.35%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）進(jìn)展能力分析進(jìn)展能力是指不斷進(jìn)展的能力。通過(guò)進(jìn)展能力分析能夠了解進(jìn)展變化情況，并能夠預(yù)測(cè)進(jìn)展前景。報(bào)告中采納資本積存率、銷(xiāo)售增長(zhǎng)率、總資產(chǎn)增長(zhǎng)率來(lái)衡量。資本積存率是指企業(yè)本年所有者權(quán)益增長(zhǎng)額同年初所有者權(quán)益的比率。資本積存率表示企業(yè)當(dāng)年資本的積存能力，是評(píng)價(jià)企業(yè)進(jìn)展?jié)摿Φ闹匾笜?biāo)。資本積存率＝本年所有者權(quán)益增長(zhǎng)額/年初所有者權(quán)益×100%。銷(xiāo)售（營(yíng)業(yè)）增長(zhǎng)率是指企業(yè)本年銷(xiāo)售（營(yíng)業(yè)）收入增長(zhǎng)額同上年銷(xiāo)售（營(yíng)業(yè)）收入總額的比率。銷(xiāo)售（營(yíng)業(yè)）增長(zhǎng)率表示與上年相比，企業(yè)銷(xiāo)售（營(yíng)業(yè)）收入的增減變動(dòng)情況，是評(píng)價(jià)企業(yè)成長(zhǎng)狀況和進(jìn)展能力的重要指標(biāo)。銷(xiāo)售（營(yíng)業(yè)）增長(zhǎng)率＝本年銷(xiāo)售增長(zhǎng)額/上年銷(xiāo)售收入總額×l00%。此比率是衡量企業(yè)進(jìn)展能力的指標(biāo)之一?？傎Y產(chǎn)增長(zhǎng)率=本年總資產(chǎn)增長(zhǎng)額/年初資產(chǎn)總額×100%。本行業(yè)進(jìn)展能力與全部工業(yè)行業(yè)進(jìn)展能力對(duì)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（%）資本積存率23.30%15.20%153%銷(xiāo)售增長(zhǎng)率20.96%32.63%64%總資產(chǎn)增長(zhǎng)率20.52%16.79%122%分地區(qū)行業(yè)進(jìn)展能力對(duì)比資本積累率（%）與全國(guó)比較（%）銷(xiāo)售增長(zhǎng)率（%）與全國(guó)比較（%）總資產(chǎn)增長(zhǎng)率(%)與全國(guó)比較(%)全國(guó)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%56.39%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%-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%73.39%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(dòng)情況銷(xiāo)售成本及變動(dòng)銷(xiāo)售費(fèi)用及變動(dòng)治理費(fèi)用及變動(dòng)2004年1~8月同比增長(zhǎng)（%）2004年1~8月同比增長(zhǎng)（%）2004年1~8月同比增長(zhǎng)（%）全國(guó)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%20639.50-49.30%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7323883.9012.90%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%92782.1041.52%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%4037.00-43.71%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%863.003.34%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(cái)務(wù)費(fèi)用及變動(dòng)成本費(fèi)用及變動(dòng)2004年1~8月同比增長(zhǎng)（%）2004年1~8月同比增長(zhǎng)（%）全國(guó)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%154161.9028.10%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%江西省8848.80-15.42%964731.3011.68%山東省31307.10-11.34%4491487.0029.27%河南省12351.6012.16%937482.9033.79%湖北省23036.10-58.06%5221380.2018.94%湖南省13334.3016.76%714400.1012.08%廣東省12487.5016.41%3724672.8027.37%廣西7688.2073.27%1712663.0027.99%海南省5601.80454.74%448280.40-0.23%重慶市8993.00-30.38%2415998.0029.90%四川省9851.405.11%975240.8047.65%貴州省2009.20-56.66%96709.2013.62%云南省3312.3017.10%231302.70-1.47%陜西省6910.20-10.24%538189.2025.14%甘肅省581.0021.68%15677.0032.85%青海省233.5037.84%16722.10-8.31%寧夏73.90-30.81%1651.9059.23%新疆540.80-20.72%62867.4023.81%（二）本期投入——銷(xiāo)售收入——利潤(rùn)比例關(guān)系分析企業(yè)的經(jīng)營(yíng)目標(biāo)是實(shí)現(xiàn)利潤(rùn)，目標(biāo)利潤(rùn)的實(shí)現(xiàn)是由成本費(fèi)用（包括銷(xiāo)售成本、銷(xiāo)售費(fèi)用、財(cái)務(wù)費(fèi)用、治理費(fèi)用）、銷(xiāo)售收入等指標(biāo)來(lái)保證的。通過(guò)對(duì)以上因素的變動(dòng)分析，能夠發(fā)掘出該行業(yè)有哪些潛力能夠挖掘，明了該行業(yè)的市場(chǎng)競(jìng)爭(zhēng)、抵御風(fēng)險(xiǎn)能力，據(jù)以擬定出下時(shí)期的目標(biāo)方案。同時(shí)能夠從成本－銷(xiāo)售收入的比例關(guān)系概略地看出上下游行業(yè)的相關(guān)阻礙和市場(chǎng)份額關(guān)系。投入——銷(xiāo)售收入——利潤(rùn)比較成本費(fèi)用銷(xiāo)售收入利潤(rùn)2004年1~8月同比增減(%)2004年1~8月同比增減(%)同比增減(%)全國(guó)58693127.2022.89%64110947.7020.96%5330941.805.70%北京市3682352.5075.44%4013081.7072.55%284012.5044.56%天津市1702812.4037.37%1846044.3030.68%112294.40-27.51%河北省1198519.4029.48%1287027.2025.98%107964.303.28%山西省154161.9028.10%151890.8023.39%1753.60-48.21%內(nèi)蒙129216.7047.67%125909.2046.00%-1189.50-397.75%遼寧省1942032.4016.84%1981246.7011.82%17908.80-81.08%吉林省8478068.8015.33%8993326.7010.94%564577.80-32.39%黑龍江省216035.30-4.75%206223.40-4.90%-9460.00-484.13%上海市8119784.6013.27%9905050.8012.45%1731930.4020.07%江蘇省4116147.3014.14%4325114.4013.49%174371.70-14.55%浙江省3456311.3028.74%3659392.0027.71%244585.4021.80%安徽省1786737.7025.99%1880305.9026.48%84473.1069.71%福建省1141490.909.52%1225776.906.47%73602.10-25.56%江西省964731.3011.68%1019327.6010.65%44836.30-14.34%山東省4491487.0029.27%4818357.7031.49%271105.8053.37%河南省937482.9033.79%983737.3032.12%45260.4012.22%湖北省5221380.2018.94%5397526.2015.20%373864.20-23.27%湖南省714400.1012.08%729382.006.68%27731.80-52.87%廣東省3724672.8027.37%4577421.2026.65%736154.9040.40%廣西1712663.0027.99%1815346.7027.69%98474.6030.33%海南省448280.40-0.23%479376.60-0.81%13697.00-31.40%重慶市2415998.0029.90%2651615.9028.57%235343.9033.37%四川省975240.8047.65%1022340.1050.94%41207.6092.80%貴州省96709.2013.62%97322.5019.44%1260.00146.10%云南省231302.70-1.47%232007.60-2.27%2415.70-54.95%陜西省538189.2025.14%591295.0029.67%53946.00120.37%甘肅省15677.0032.85%15308.6039.52%-382.4062.72%青海省16722.10-8.31%18284.60-4.24%725.202.81%寧夏1651.9059.23%1704.7089.12%-32.8076.09%新疆62867.4023.81%60203.4023.93%-1491.00-5368.55%投入——銷(xiāo)售收入——利潤(rùn)比例關(guān)系成本費(fèi)用/利潤(rùn)(%)地區(qū)比全國(guó)(%)成本費(fèi)用/銷(xiāo)售收入(%)地區(qū)比全國(guó)(%)利潤(rùn)/銷(xiāo)售收入(%)地區(qū)比全國(guó)(%)全國(guó)1100.99%100.00%91.55%100.00%8.32%100.00%北京市1296.55%117.76%91.76%100.23%7.08%85.11%天津市1516.38%137.73%92.24%100.76%6.08%73.16%河北省1110.11%100.83%93.12%101.72%8.39%100.88%山西省8791.17%798.48%101.50%110.86%1.15%13.88%內(nèi)蒙-10863.11%-986.67%102.63%112.10%-0.94%-11.36%遼寧省10844.01%984.93%98.02%107.07%0.90%10.87%吉林省1501.67%136.39%94.27%102.97%6.28%75.50%黑龍江省-2283.67%-207.42%104.76%114.43%-4.59%-55.17%上海市468.83%42.58%81.98%89.54%17.49%210.28%江蘇省2360.56%214.40%95.17%103.95%4.03%48.48%浙江省1413.13%128.35%94.45%103.17%6.68%80.38%安徽省2115.16%192.11%95.02%103.80%4.49%54.03%福建省1550.89%140.86%93.12%101.72%6.00%72.21%江西省2151.67%195.43%94.64%103.38%4.40%52.90%山東省1656.73%150.48%93.22%101.82%5.63%67.67%河南省2071.31%188.13%95.30%104.09%4.60%55.33%湖北省1396.60%126.85%96.74%105.67%6.93%83.30%湖南省2576.10%233.98%97.95%106.99%3.80%45.72%廣東省505.96%45.96%81.37%88.88%16.08%193.41%廣西1739.19%157.97%94.34%103.05%5.42%65.24%海南省3272.84%297.26%93.51%102.15%2.86%34.36%重慶市1026.58%93.24%91.11%99.52%8.88%106.74%四川省2366.65%214.96%95.39%104.20%4.03%48.47%貴州省7675.33%697.13%99.37%108.54%1.29%15.57%云南省9574.98%869.67%99.70%108.90%1.04%12.52%陜西省997.64%90.61%91.02%99.42%9.12%109.72%甘肅省-4099.63%-372.36%102.41%111.86%-2.50%-30.04%青海省2305.86%209.44%91.45%99.90%3.97%47.70%寧夏-5036.28%-457.43%96.90%105.85%-1.92%-23.14%新疆-4216.46%-382.97%104.42%114.06%-2.48%-29.78%八、行業(yè)經(jīng)濟(jì)運(yùn)行指標(biāo)地區(qū)產(chǎn)品銷(xiāo)售收入同比增減(%)地區(qū)占全國(guó)比重(%)利潤(rùn)總額同比增減(%)占全國(guó)比重(%)應(yīng)收賬款同比增減(%)地區(qū)占全國(guó)比重(%)全國(guó)64110947.7020.96%100.00%5330941.805.70%100.00%11107015.3020.84%100.00%北京市4013081.7072.55%6.26%284012.5044.56%5.33%384143.5043.14%3.46%天津市1846044.3030.68%2.88%112294.40-27.51%2.11%674659.2025.82%6.07%河北省1287027.2025.98%2.01%107964.303.28%2.03%226429.804.08%2.04%山西省151890.8023.39%0.24%1753.60-48.21%0.03%60692.7011.91%0.55%內(nèi)蒙125909.2046.00%0.20%-1189.50-397.75%-0.02%74809.6026.20%0.67%遼寧省1981246.7011.82%3.09%17908.80-81.08%0.34%494768.006.76%4.45%吉林省8993326.7010.94%14.03%564577.80-32.39%10.59%2084114.2065.21%18.76%黑龍江省206223.40-4.90%0.32%-9460.00-484.13%-0.18%60057.809.70%0.54%上海市9905050.8012.45%15.45%1731930.4020.07%32.49%1036259.00-2.79%9.33%江蘇省4325114.4013.49%6.75%174371.70-14.55%3.27%931798.0012.70%8.39%浙江省3659392.0027.71%5.71%244585.4021.80%4.59%842034.2019.81%7.58%安徽省1880305.9026.48%2.93%84473.1069.71%1.58%271558.9041.80%2.44%福建省1225776.906.47%1.91%73602.10-25.56%1.38%198135.00-5.67%1.78%江西省1019327.6010.65%1.59%44836.30-14.34%0.84%138406.6041.67%1.25%山東省4818357.7031.49%7.52%271105.8053.37%5.09%636231.60-3.17%5.73%河南省983737.3032.12%1.53%45260.4012.22%0.85%195806.6037.52%1.76%湖北省5397526.2015.20%8.42%373864.20-23.27%7.01%786080.70-4.08%7.08%湖南省729382.006.68%1.14%27731.80-52.87%0.52%198429.8020.89%1.79%廣東省4577421.2026.65%7.14%736154.9040.40%13.81%499883.6048.45%4.50%廣西1815346.7027.69%2.83%98474.6030.33%1.85%319361.7026.48%2.88%海南省479376.60-0.81%0.75%13697.00-31.40%0.26%24452.50200.86%0.22%重慶市2651615.9028.57%4.14%235343.9033.37%4.41%509893.5016.52%4.59%四川省1022340.1050.94%1.59%41207.6092.80%0.77%210122.1056.21%1.89%貴州省97322.5019.44%0.15%1260.00146.10%0.02%37724.8010.74%0.34%云南省232007.60-2.27%0.36%2415.70-54.95%0.05%23150.704.71%0.21%陜西省591295.0029.67%0.92%53946.00120.37%1.01%159546.205.40%1.44%甘肅省15308.6039.52%0.02%-382.4062.72%-0.01%10375.40205.46%0.09%青海省18284.60-4.24%0.03%725.202.81%0.01%3050.9010.85%0.03%寧夏1704.7089.12%0.00%-32.8076.09%0.00%955.9068.23%0.01%新疆60203.4023.93%0.09%-1491.00-5368.55%-0.03%14082.80-0.44%0.13%=3\*ROMANIII行業(yè)風(fēng)險(xiǎn)揭示、政策分析及負(fù)面信息一、風(fēng)險(xiǎn)揭示經(jīng)營(yíng)風(fēng)險(xiǎn)：為防止投資過(guò)熱國(guó)家可能出臺(tái)的限制政策，要及時(shí)關(guān)注市場(chǎng)風(fēng)險(xiǎn)：國(guó)內(nèi)企業(yè)與國(guó)外企業(yè)競(jìng)爭(zhēng)更加激烈科技風(fēng)險(xiǎn)：產(chǎn)品的定位與需求存在的差不政策風(fēng)險(xiǎn)：國(guó)產(chǎn)汽車(chē)在質(zhì)量上仍與歐美日存在差距 二、政策分析1.新汽車(chē)產(chǎn)業(yè)政策分析產(chǎn)業(yè)政策的基調(diào)是愛(ài)護(hù)的，對(duì)國(guó)產(chǎn)汽車(chē)無(wú)疑是件好事，按照《產(chǎn)業(yè)政策》透露出來(lái)的信息，一汽夏利、長(zhǎng)安汽車(chē)等顯然是政策的受益者，這次《產(chǎn)業(yè)政策》對(duì)生產(chǎn)經(jīng)濟(jì)型轎車(chē)、民族品牌轎車(chē)廠商比較有利?！懂a(chǎn)業(yè)政策》并沒(méi)有限制汽車(chē)行業(yè)內(nèi)廠商的投資，只只是是限制他們的低技術(shù)水平的投資罷了。而對(duì)行業(yè)外的資本則一方面規(guī)定禁止買(mǎi)殼賣(mài)殼，限制其假道進(jìn)入汽車(chē)行業(yè)，另一方面，又把汽車(chē)項(xiàng)目投資門(mén)檻拔高到20億元，對(duì)其直接進(jìn)入構(gòu)成較高的壁壘?！懂a(chǎn)業(yè)政策》實(shí)施后，像格林科爾收購(gòu)亞星客車(chē)（600213）這種現(xiàn)象可能要有所限制。此前國(guó)家對(duì)進(jìn)口車(chē)要緊通過(guò)關(guān)稅和進(jìn)口配額兩方面加以限制，而在關(guān)稅逐年下降，進(jìn)口許可證又立即取消的情況下，《產(chǎn)業(yè)政策》的出臺(tái)對(duì)國(guó)內(nèi)汽車(chē)廠商的愛(ài)護(hù)就顯得尤為重要。《產(chǎn)業(yè)政策》規(guī)定，“2005年起，所有進(jìn)口口岸保稅區(qū)不得存放以進(jìn)入國(guó)內(nèi)市場(chǎng)為目的的汽車(chē)”。取消保稅區(qū)，再加上3C認(rèn)證等規(guī)定無(wú)疑將提高進(jìn)口汽車(chē)商的成本，打擊其銷(xiāo)售進(jìn)口車(chē)的積極性，使他們轉(zhuǎn)向銷(xiāo)售國(guó)產(chǎn)車(chē)?！懂a(chǎn)業(yè)政策》的出臺(tái)對(duì)汽車(chē)進(jìn)口商打擊比較大，以后進(jìn)口汽車(chē)生意比較難做了。國(guó)家出臺(tái)《產(chǎn)業(yè)政策》，顯然是在愛(ài)護(hù)民族工業(yè)、國(guó)有汽車(chē)企業(yè)，在明年要完全取消進(jìn)口許可證的情況下，規(guī)定進(jìn)口車(chē)、國(guó)產(chǎn)車(chē)銷(xiāo)售網(wǎng)兩網(wǎng)分開(kāi)，無(wú)疑將大大加大汽車(chē)進(jìn)口銷(xiāo)售商的成本，從而起到操縱進(jìn)口的作用，但對(duì)國(guó)產(chǎn)車(chē)就有好處了。2.發(fā)動(dòng)機(jī)檢測(cè)標(biāo)準(zhǔn)用油公布9月1日，國(guó)家標(biāo)準(zhǔn)化治理委員會(huì)在北京公布了兩種發(fā)動(dòng)機(jī)檢測(cè)標(biāo)準(zhǔn)用油。此次發(fā)動(dòng)機(jī)檢測(cè)用油標(biāo)準(zhǔn)的公布，宣告我國(guó)發(fā)動(dòng)機(jī)檢測(cè)用油不統(tǒng)一、無(wú)規(guī)范的時(shí)代的結(jié)束。此前國(guó)內(nèi)的一些汽車(chē)廠商大多使用一般汽油進(jìn)行發(fā)動(dòng)機(jī)的調(diào)試和檢測(cè)，如此生產(chǎn)出來(lái)的發(fā)動(dòng)機(jī)在各方面性能上會(huì)有誤差，既對(duì)汽車(chē)本身不利，同時(shí)也導(dǎo)致了治理方面的混亂。由于汽車(chē)發(fā)動(dòng)機(jī)和柴油發(fā)動(dòng)機(jī)的功率及排污等各項(xiàng)性能不盡相同，國(guó)家標(biāo)準(zhǔn)委員會(huì)公布的兩種燃油分不是點(diǎn)燃式和壓燃式發(fā)動(dòng)機(jī)檢測(cè)用油。其中點(diǎn)燃式發(fā)動(dòng)機(jī)檢測(cè)用油針對(duì)的是汽油發(fā)動(dòng)機(jī)，而壓燃式發(fā)動(dòng)機(jī)檢測(cè)用油針對(duì)的是柴油發(fā)動(dòng)機(jī)。這些標(biāo)準(zhǔn)委推出的這兩種標(biāo)準(zhǔn)用油差不多投入大批量生產(chǎn)，并將在國(guó)內(nèi)的汽車(chē)和發(fā)動(dòng)機(jī)生產(chǎn)廠商中廣泛推廣。三、負(fù)面信息（一）隨著競(jìng)爭(zhēng)加劇，汽車(chē)行業(yè)的平均利潤(rùn)率將趨于下降。（二）企業(yè)分化和新的增長(zhǎng)機(jī)遇使汽車(chē)產(chǎn)業(yè)組織結(jié)構(gòu)呈現(xiàn)出較強(qiáng)的不確定性。（三）“大而全”的企業(yè)組織形態(tài)將遇到嚴(yán)峻挑戰(zhàn)。=4\*ROMANIV行業(yè)動(dòng)態(tài)跟蹤分析評(píng)價(jià)一、行業(yè)及上下游運(yùn)行情況運(yùn)行特點(diǎn)汽車(chē)行業(yè)運(yùn)行保持快速增長(zhǎng)，汽車(chē)行業(yè)累計(jì)完成工業(yè)總產(chǎn)值(當(dāng)年價(jià))65345163.70萬(wàn)元，比去年同期增長(zhǎng)21%；實(shí)現(xiàn)產(chǎn)品銷(xiāo)售收入64110947.70萬(wàn)元，比上年同期增長(zhǎng)21%要緊產(chǎn)品市場(chǎng)經(jīng)濟(jì)型SUV受汽油價(jià)格阻礙銷(xiāo)售下落，轎車(chē)銷(xiāo)售比去年同期略下降，卡車(chē)市場(chǎng)本季度銷(xiāo)售較好。存在問(wèn)題技術(shù)上的依靠性，國(guó)產(chǎn)品牌的建設(shè)比較差，不利于今后國(guó)產(chǎn)汽車(chē)的競(jìng)爭(zhēng)和進(jìn)展上下游變動(dòng)鋼材價(jià)格趨穩(wěn)并略有起伏，近期變化不是專(zhuān)門(mén)大；石油價(jià)格本季度略有上升。柴油價(jià)格略有上升技術(shù)進(jìn)步變動(dòng)新產(chǎn)品技術(shù)含量提高，防盜、舒適性能有了明顯進(jìn)步。國(guó)際市場(chǎng)變動(dòng)國(guó)外汽車(chē)生產(chǎn)企業(yè)通過(guò)合資生產(chǎn)的方式進(jìn)入中國(guó)汽車(chē)領(lǐng)域的步伐加快。國(guó)外品牌大量進(jìn)入中國(guó)行業(yè)前景預(yù)測(cè)今后五年各地在汽車(chē)整車(chē)方面的規(guī)劃投資達(dá)2000多億元，新增生產(chǎn)能力600多萬(wàn)輛，到2007年總生產(chǎn)能力將達(dá)到1100～1200萬(wàn)輛，大大超過(guò)預(yù)期700萬(wàn)輛左右的市場(chǎng)需求。業(yè)內(nèi)對(duì)策建議高度關(guān)注國(guó)家出臺(tái)的行業(yè)政策，注意行業(yè)運(yùn)行情況，隨時(shí)掌握行業(yè)動(dòng)態(tài)信息二、行業(yè)強(qiáng)勢(shì)、弱勢(shì)、機(jī)會(huì)與風(fēng)險(xiǎn)（SWOT）強(qiáng)勢(shì)產(chǎn)品生產(chǎn)接著保持強(qiáng)勁勢(shì)頭，而且國(guó)內(nèi)汽車(chē)消費(fèi)需求潛力專(zhuān)門(mén)大，弱勢(shì)國(guó)內(nèi)消費(fèi)逐漸成熟，對(duì)技術(shù)、質(zhì)量要求比較高，同時(shí)持幣待購(gòu)的心態(tài)對(duì)汽車(chē)銷(xiāo)售產(chǎn)生阻礙機(jī)會(huì)總體消費(fèi)需求旺盛，汽車(chē)企業(yè)目前投資回報(bào)率較高風(fēng)險(xiǎn)供不應(yīng)求的轎車(chē)市場(chǎng)向供求差不多平衡的狀況轉(zhuǎn)變，汽車(chē)消費(fèi)信貸模式不符合風(fēng)險(xiǎn)規(guī)避要求，應(yīng)該進(jìn)行改進(jìn)，因?yàn)檫@方面的風(fēng)險(xiǎn)差不多出現(xiàn)三、貸款建議行業(yè)資金流向流入利潤(rùn)水平可同意度較高建議開(kāi)發(fā)熱點(diǎn)區(qū)域上海、北京、廣東、江蘇、湖北、浙江、天津產(chǎn)品經(jīng)濟(jì)轎車(chē)、中檔轎車(chē)企業(yè)1.上海大眾汽車(chē)有限公司2.一汽大眾汽車(chē)有限公司3.上海通用汽車(chē)有限公司4.一汽天津夏利汽車(chē)股份有限公司5.廣州本田汽車(chē)公司6.神龍汽車(chē)有限公司7.長(zhǎng)安汽車(chē)（集團(tuán)）有限責(zé)任公司8.上汽奇瑞汽車(chē)有限公司9.風(fēng)神汽車(chē)有限公司10.北京現(xiàn)代汽車(chē)有限公司要緊風(fēng)險(xiǎn)政策風(fēng)險(xiǎn)為防止投資過(guò)熱國(guó)家可能出臺(tái)的限制政策，要及時(shí)關(guān)注市場(chǎng)風(fēng)險(xiǎn)國(guó)內(nèi)企業(yè)與國(guó)外企業(yè)競(jìng)爭(zhēng)更加激烈經(jīng)營(yíng)風(fēng)險(xiǎn)產(chǎn)品的定位與需求存在的差不技術(shù)風(fēng)險(xiǎn)國(guó)產(chǎn)汽車(chē)在質(zhì)量上仍與歐美日存在差距=5\*ROMANV龍頭/重點(diǎn)聯(lián)系企業(yè)分析一、龍頭/重點(diǎn)聯(lián)系企業(yè)財(cái)務(wù)指標(biāo)業(yè)內(nèi)按銷(xiāo)售收入排名前十位企業(yè)要緊財(cái)務(wù)指標(biāo)單位：千元/人排名銷(xiāo)售收入資產(chǎn)利潤(rùn)從業(yè)人數(shù)14118766768568605183824180866233836680279130602763310744733028294934753534358733714570429574452246420647000879485852000247533705585121361029168619404201138655223790309426671379304062275302398002052281329166013315610829250322699104174407570754160639321221082259601255261222900010855二、企業(yè)在全國(guó)各地的分布地區(qū)企業(yè)數(shù)虧損企業(yè)數(shù)虧損企業(yè)比重全國(guó)5588124422.26%北京市2047134.80%天津市1936734.72%河北省2063717.96%山西省361027.78%內(nèi)蒙17741.18%遼寧省2118138.39%吉林省2336728.76%黑龍江省532241.51%上海市4055212.84%江蘇省5809015.52%浙江省931808.59%安徽省1564226.92%福建省1773519.77%江西省732534.25%山東省4444610.36%河南省1453423.45%湖北省37513134.93%湖南省1685029.76%廣東省2738029.30%廣西1183529.66%海南省22940.91%重慶市1774022.60%四川省2055024.39%貴州省371848.65%云南省361952.78%陜西省421740.48%甘肅省381231.58%青海省14535.71%寧夏3266.67%新疆161062.50%=6\*ROMANVI資本市場(chǎng)分析經(jīng)中國(guó)證監(jiān)會(huì)批準(zhǔn)，重慶長(zhǎng)安汽車(chē)股份有限公司將增發(fā)不超過(guò)1.5億股A股。長(zhǎng)安汽車(chē)本次增發(fā)打算募集資金人民幣11億元，要緊將投入“CM8多用途乘用車(chē)項(xiàng)目”、“異地?cái)U(kuò)產(chǎn)項(xiàng)目”、“微型客車(chē)模具技術(shù)改造項(xiàng)目”。長(zhǎng)安汽車(chē)本次發(fā)行采納網(wǎng)上、網(wǎng)