萬(wàn)科企業(yè)財(cái)務(wù)分析報(bào)告

1、萬(wàn)科企業(yè)財(cái)務(wù)解析報(bào)告萬(wàn)科企業(yè)財(cái)務(wù)解析報(bào)告目錄大綱房地產(chǎn)行業(yè)大要1.1.房地產(chǎn)行業(yè)的發(fā)展遠(yuǎn)景萬(wàn)科地產(chǎn)會(huì)計(jì)解析2.1萬(wàn)科地產(chǎn)的財(cái)富情況2.2萬(wàn)科地產(chǎn)的收益情況收益表綜合解析現(xiàn)金流量表一般解析萬(wàn)科房產(chǎn)財(cái)務(wù)解析短期償債能力指標(biāo)解析長(zhǎng)遠(yuǎn)償債能力指標(biāo)解析3.2營(yíng)運(yùn)能力解析營(yíng)運(yùn)能力指標(biāo)解析3.3.企業(yè)盈利能力解析財(cái)富經(jīng)營(yíng)盈利能力解析資本經(jīng)營(yíng)能力解析商品經(jīng)營(yíng)盈利能力解析每股收益解析解析結(jié)論及建議4.1財(cái)務(wù)問(wèn)題4.2改進(jìn)建議房地產(chǎn)行業(yè)大要房地產(chǎn)行業(yè)的發(fā)展遠(yuǎn)景從宏觀經(jīng)濟(jì)上看，中國(guó)人均GDP高出7000美元，長(zhǎng)遠(yuǎn)內(nèi)房地產(chǎn)業(yè)正處于快速發(fā)展的起步階段。居民的花銷能力大大提高，花銷結(jié)構(gòu)也會(huì)變化，這類花銷結(jié)構(gòu)的變化主要表現(xiàn)

2、在居民對(duì)汽車和住處這類代表著財(cái)富和財(cái)富的商品需求的快速增加上。中國(guó)宏觀經(jīng)濟(jì)正處于快速增加階段，房地產(chǎn)投資在其中起重視要的貢獻(xiàn)作用，外國(guó)經(jīng)濟(jì)發(fā)展歷程也證明，公民經(jīng)濟(jì)中房地產(chǎn)業(yè)的貢獻(xiàn)是必需的而且是牢固的。國(guó)家的宏觀調(diào)控政策使房地產(chǎn)行業(yè)外面環(huán)境發(fā)生變化，錢幣的縮短使得企業(yè)不得不擔(dān)當(dāng)巨大的資本壓力，開發(fā)企業(yè)將比過(guò)去更加重視融資能力。在資本壓力及金融風(fēng)險(xiǎn)下，很有可能會(huì)出現(xiàn)新的融資渠道，房地產(chǎn)企業(yè)的融資手段會(huì)表現(xiàn)出多樣化和專業(yè)化。由此融資能力所帶來(lái)的強(qiáng)弱分化將使行業(yè)整合進(jìn)一步張開，各種資源向營(yíng)運(yùn)效率較高的企業(yè)集中。目前中國(guó)房地產(chǎn)處于行業(yè)快速發(fā)展階段，短期內(nèi)由于新政策影響，市場(chǎng)不可以防備出現(xiàn)調(diào)整。在土地、資

3、本、市場(chǎng)觀看的壓力之下，行業(yè)內(nèi)部不斷調(diào)整和變革，市場(chǎng)將會(huì)更加規(guī)范，遠(yuǎn)期來(lái)看市場(chǎng)擁有牢固的需求。萬(wàn)科地產(chǎn)會(huì)計(jì)解析2.1萬(wàn)科地產(chǎn)的財(cái)富情況表2-1萬(wàn)科地產(chǎn)合并財(cái)富負(fù)債表年12月31日單位:元項(xiàng)目期末數(shù)期初數(shù)流動(dòng)財(cái)富:錢幣資本44,365,409,795.2352,291,542,055.49應(yīng)收賬款3,078,969,781.371,886,548,523.49預(yù)付賬款28,653,665,102.6133,373,611,935.08其他應(yīng)收款34,815,317,241.4120,057,921,836.24存貨331,133,223,278.99255,164,112,985.07流動(dòng)財(cái)富合

4、計(jì)442,046,585,199.61362,773,737,335.37非流動(dòng)財(cái)富:可供銷售金融財(cái)富2,466,185,867.934,763,600.00長(zhǎng)遠(yuǎn)股權(quán)投資10,637,485,708.347,040,306,464.29投資性房地產(chǎn)11,710,476,284.302,375,228,355.79固定財(cái)富2,129,767,863.361,612,257,202.22在建工程913,666,777.101,051,118,825.93無(wú)形財(cái)富430,074,183.12426,846,899.52商譽(yù)201,689,835.80201,689,835.80長(zhǎng)遠(yuǎn)待攤花銷63,51

5、0,505.2142,316,652.03遞延所得稅財(cái)富3,525,262,051.953,054,857,904.42其他非流動(dòng)財(cái)富5,080,619,213.82218,492,000.00非流動(dòng)財(cái)富合計(jì):37,158,738,290.9316,027,877,740.00財(cái)富總計(jì)479,205,323,490.54378,801,615,075.37流動(dòng)負(fù)債:短期借款5,102,514,631.149,932,400,240.50交易性金融負(fù)債11,686,986.0225,761,017.27應(yīng)付票據(jù)14,783,899,946.374,977,131,435.22應(yīng)付賬款63,958

6、,459,138.7844,860,995,716.97預(yù)收款項(xiàng)155,518,071,436.35131,023,977,530.61應(yīng)付職工薪酬2,451,674,436.712,177,748,944.37應(yīng)交稅費(fèi)4,578,205,233.594,515,588,914.24應(yīng)付利息291,243,561.80649,687,938.74其他應(yīng)付款54,704,285,269.2636,045,315,768.94一年內(nèi)到期的非流動(dòng)負(fù)債27,521,791,569.9025,624,959,204.23流動(dòng)負(fù)債合計(jì)328,921,832,209.92259,833,566,711.09

7、非流動(dòng)負(fù)債:長(zhǎng)遠(yuǎn)借款36,683,128,420.0836,036,070,366.26應(yīng)付債券7,398,391,932.47預(yù)計(jì)負(fù)債46,876,821.1544,292,267.15其他非流動(dòng)負(fù)債2,955,020.8515,677,985.06遞延所得稅負(fù)債672,715,687.44733,812,757.71非流動(dòng)負(fù)債合計(jì)44,844,067,881.9936,829,853,376.18負(fù)債合計(jì)373,765,900,091.91296,663,420,087.27所有者權(quán)益:股本11,014,968,919.0010,995,553,118.00資本公積8,532,222,93

8、3.578,683,860,667.82盈利公積20,135,409,720.2417,017,051,382.39未分配收益36,706,888,864.0826,688,098,566.77外幣報(bào)表折算差額506,492,902.81440,990,190.32歸屬于母企業(yè)所有者權(quán)益76,895,983,339.7063,825,553,925.30少許股東權(quán)益28,543,440,058.9318,312,641,062.80所有者權(quán)益合計(jì)105,439,423,398.6382,138,194,988.10負(fù)債及所有者權(quán)益總計(jì)479,205,323,490.54378,801,615,

9、075.372-2萬(wàn)科地產(chǎn)財(cái)富負(fù)債表水平解析表金額單位：元項(xiàng)目xx年xx年變動(dòng)情況對(duì)總數(shù)*(%)變動(dòng)額變動(dòng)(%)流動(dòng)財(cái)富：錢幣資本44,365,409,795.2352,291,542,055.49-7,926,132,260.26-15.16-2.09應(yīng)收賬款3,078,969,781.371,886,548,523.491,192,421,257.8863.210.31預(yù)付賬款28,653,665,102.6133,373,611,935.08-4,719,946,832.47-14.14-1.25其他應(yīng)收款34,815,317,241.4120,057,921,836.2414,757,

10、395,405.1773.573.90存貨331,133,223,278.99255,164,112,985.0775,969,110,293.9229.7720.06流動(dòng)財(cái)富合計(jì)442,046,585,199.61362,773,737,335.3779,272,847,864.2421.8520.93非流動(dòng)財(cái)富：可供銷售金融財(cái)富2,466,185,867.934,763,600.002,461,422,267.9351,671.470.65長(zhǎng)遠(yuǎn)股權(quán)投資10,637,485,708.347,040,306,464.293,597,179,244.0551.090.95投資性房地產(chǎn)11,710

11、,476,284.302,375,228,355.799,335,247,928.51393.032.46固定財(cái)富2,129,767,863.361,612,257,202.22517,510,661.1432.100.14在建工程913,666,777.101,051,118,825.93-137,452,048.83-13.08-0.04無(wú)形財(cái)富430,074,183.12426,846,899.523,227,283.600.760.00商譽(yù)201,689,835.80201,689,835.800.000.000.00長(zhǎng)遠(yuǎn)待攤花銷63,510,505.2142,316,652.0321

12、,193,853.1850.080.01遞延所得稅財(cái)富3,525,262,051.953,054,857,904.42470,404,147.5315.400.12其他非流動(dòng)財(cái)富5,080,619,213.82218,492,000.004,862,127,213.822,225.311.28非流動(dòng)財(cái)富合計(jì)：37,158,738,290.9316,027,877,740.0021,130,860,550.93131.845.58財(cái)富總計(jì)479,205,323,490.54378,801,615,075.37100,403,708,415.1726.5126.51流動(dòng)負(fù)債：短期借款5,102,5

13、14,631.149,932,400,240.50-4,829,885,609.36-48.63-1.28交易性金融負(fù)債11,686,986.0225,761,017.27-14,074,031.25-54.630.00應(yīng)付票據(jù)14,783,899,946.374,977,131,435.229,806,768,511.15197.042.59應(yīng)付賬款63,958,459,138.7844,860,995,716.9719,097,463,421.8142.575.04預(yù)收款項(xiàng)155,518,071,436.35131,023,977,530.6124,494,093,905.7418.696

14、.47應(yīng)付職工薪酬2,451,674,436.712,177,748,944.37273,925,492.3412.580.07應(yīng)交稅費(fèi)4,578,205,233.594,515,588,914.2462,616,319.351.390.02應(yīng)付利息291,243,561.80649,687,938.74-358,444,376.94-55.17-0.09其他應(yīng)付款54,704,285,269.2636,045,315,768.9418,658,969,500.3251.774.93一年內(nèi)到期的非流動(dòng)負(fù)債27,521,791,569.9025,624,959,204.231,896,832,3

15、65.677.400.50流動(dòng)負(fù)債合計(jì)328,921,832,209.92259,833,566,711.0969,088,265,498.8326.5918.24非流動(dòng)負(fù)債：長(zhǎng)遠(yuǎn)借款36,683,128,420.0836,036,070,366.26647,058,053.821.800.17應(yīng)付債券7,398,391,932.477,398,391,932.471.95預(yù)計(jì)負(fù)債46,876,821.1544,292,267.152,584,554.005.840.00其他非流動(dòng)負(fù)債2,955,020.8515,677,985.06-12,722,964.21-81.150.00遞延所得稅負(fù)

16、債672,715,687.44733,812,757.71-61,097,070.27-8.33-0.02非流動(dòng)負(fù)債合計(jì)44,844,067,881.9936,829,853,376.188,014,214,505.8121.762.12負(fù)債合計(jì)373,765,900,091.91296,663,420,087.2777,102,480,004.6425.9920.35所有者權(quán)益：股本11,014,968,919.0010,995,553,118.0019,415,801.000.180.01資本公積8,532,222,933.578,683,860,667.82-151,637,734.25

17、-1.75-0.04盈利公積20,135,409,720.2417,017,051,382.393,118,358,337.8518.320.82未分配收益36,706,888,864.0826,688,098,566.7710,018,790,297.3137.542.64外幣報(bào)表折算差額506,492,902.81440,990,190.3265,502,712.4914.850.02歸屬于母企業(yè)所有者權(quán)益76,895,983,339.7063,825,553,925.3013,070,429,414.4020.483.45少許股東權(quán)益28,543,440,058.9318,312,641

18、,062.8010,230,798,996.1355.872.70所有者權(quán)益合計(jì)105,439,423,398.6382,138,194,988.1023,301,228,410.5328.376.15負(fù)債及所有者權(quán)益總計(jì)479,205,323,490.54378,801,615,075.37100,403,708,415.1726.5126.512-2解析：該企業(yè)總財(cái)富本期增加元，增加幅度為26.51%，說(shuō)明萬(wàn)科地產(chǎn)今年財(cái)富規(guī)模有了較大幅度的增加。進(jìn)一步解析可以發(fā)現(xiàn)：流動(dòng)財(cái)富本期增加79272847864.24元，增加的幅度為21.85%，使總財(cái)富規(guī)模增加了20.93%。非流動(dòng)財(cái)富本期增加了21130860550.93元，增加的幅度為131.84%，使得總財(cái)富規(guī)模增加了5