美爆潮品店可行性研究課程設(shè)計論文

、項目概述1.1項目名稱：美爆潮品店（MIX-BOX)1.2項目地點：煙臺市萊山區(qū)華潤中心1.3市場背景：隨著時代的不斷進步，人們也越來越注重自己的儀表了，開飾品店在我國很有市場潛力，是個不錯的投資選擇。隨著社會經(jīng)濟、文化的飛躍發(fā)展，人們正從溫飽型步入小康型，崇尚人性和時尚，不斷塑造個性和魅力，已成為人們的追求，尤其是年輕人，喜歡把自己打扮的很潮、很炫、很酷、很有個性。因此，順應(yīng)時代的飾品文化顯示出強大的發(fā)展勢頭和越來越廣的市場，從事飾品銷售有著廣闊的利潤空間。時尚飾品讓女人釋放美麗，讓男人展示個性，小飾品的推銷市場年輕人的比例占得較多。流行時尚是現(xiàn)代男女的追求目標，時尚個性小飾品能彰顯一個人的個性與性格。愛美之心人皆有之，追求時尚潮流，走在時代尖端是當代年輕人的主旋律，時尚個性小飾品可以裝扮自己的外表，而且不同的飾品搭配不同的衣服，就可以彰顯不同的個性，因此備受年輕男女的喜愛。1.4品牌背景：美爆潮妝，中國第一美妝潮流品牌。全球美妝潮品連鎖巨頭"美爆（MIX-BOX）"，在英國C&B投資背景及BritishC&BInvestmentHoldingLimited全球品牌監(jiān)控下，憑借時尚大氣的品牌形象，雄厚的品牌背景以及成熟的市場運作，自2007年強勢進入中國市場即奠定了堅不可摧的領(lǐng)先地位，接管并整合了當時中國最大的飾品品牌阿呀呀，開創(chuàng)了美妝潮品的新領(lǐng)域，至今已在中國鋪設(shè)了數(shù)千家美妝潮品店，快速時尚的美爆已成為全球時尚女孩最為推崇和喜愛的潮流品牌。2010年，MIX-BOX隆重推出中文名"美爆"，完美契合時尚潮美的品牌理念，同時推出了品牌口號"美到美爆"，旨在與全球時尚女孩一起分享"美爆"的流行體驗！臺灣小天后蔡依林十年傾情出任飾品代言，亞洲人氣組合BY2出任護膚代言，國際一線時尚品牌Snoopy、HelloKitty全線進駐，超過3000家店鋪遍及全國658個城市，4000多款時尚單品全面覆蓋護膚、彩妝、妝具、飾物、玩具等多個領(lǐng)域?；A(chǔ)數(shù)據(jù)2.1產(chǎn)品方案：產(chǎn)品主要為護膚、彩妝、妝具、飾物、玩具五個領(lǐng)域。2.2實施進度：本項目租店面，面積100平米，分上下兩層。2.3總投資估算及資金來源：（1）固定資產(chǎn)投資估算固定資產(chǎn)投資總額=固定資產(chǎn)費用+無形資產(chǎn)費用+其他資產(chǎn)費用+預備費=100000+100000+1020500+50000=1270500 固定資產(chǎn)投資估算見表2-1表2-1建設(shè)投資估算表單位：元序號工程或費用名稱費用1固定資產(chǎn)費用1000001.1裝修費用800001.2機器設(shè)備購置費200002無形資產(chǎn)費用1000002.1加盟費1000003其他資產(chǎn)費用10205003.1房租10000003.2開辦費100003.3廣告費100003.4營業(yè)執(zhí)照5004預備費500004.1基本預備費500005合計1270500（2）流動資金估算估算總額為120800元。流動資金估算表見表2-2。表2-2流動資金估算表單位：元序號項目最低周轉(zhuǎn)天數(shù)周轉(zhuǎn)次數(shù)達到設(shè)計能力生產(chǎn)期/年123456789101流動資產(chǎn)1208001208001208001208001208001208001208001208001208001208001.1存貨1008001008001008001008001008001008001008001008001008001008001.1.1進貨成本6061000001000001000001000001000001000001000001000001000001000001.1.2水電費30128008008008008008008008008008001.2現(xiàn)金606200002000020000200002000020000200002000020000200002流動負債00000000002.1應(yīng)付賬款000000000033流動資金（1-2）120800120800120800120800120800120800120800120800120800120800(3)資金來源項目自有資金（資本金）為556520元，其中，用于流動資金80000元，用于建設(shè)投資476520，其余為借款。長期借款為793980元，全部用于建設(shè)投資，由中國銀行貸款，年利率8%;流動資金借款為40800元，每年年初借，年末歸還，由工商銀行貸款，年利率為6%。投資使用計劃與資金籌措見表2-3。表2-3投資計劃與資金籌措表單位：元序號項目合計年份/年01--101總資金1391300139130001.1建設(shè)投資1270500127050001.2流動資金12080012080002資金籌措1391300139130002.1自有資金5565205565200其中：用于流動資金800008000002.2借款83478083478002.2.1長期借款7939807939800其中：用于建設(shè)投資79398079398002.2.2流動資金借款408004080002.3其他000（4）產(chǎn)品成本和費用估算依據(jù)： 1）進貨成本600000元；2）水電費9600元；3）全店員工定為店長一人，店員三人，店長工資4000元，店員工資2000元；4）固定資產(chǎn)按平均年限法折舊，折舊年限為10年，預計凈殘值率為4%；5）修理費取折舊費的4%；6）無形及其他資產(chǎn)按10年攤銷；（5）產(chǎn)品銷售價格，妝具區(qū)為21元/件，護膚品區(qū)為60元/件，彩妝區(qū)為50元/件，飾物區(qū)為60元/件，玩具區(qū)為50元/件；（6）企業(yè)所得稅稅率為25%；（7）基準折現(xiàn)率為10%。財務(wù)評價3.1年銷售收入和年銷售稅金及附加計算 銷售收入和銷售稅金及附加估算表見表3-1 3.2產(chǎn)品成本估算總成本費用估算正常年為884082元，其中，經(jīng)營成本正常年為769984元?？偝杀举M用估算表見表3-21）固定資產(chǎn)折舊和無形及其他資產(chǎn)攤銷計算，固定資產(chǎn)原值為100000元，按平均年限法計算折舊，折舊年限為10年，年折舊額為9600元。固定資產(chǎn)折舊計算見表3-3無形及其他資產(chǎn)原值1120500元，按10年攤銷，年攤銷費為112050元。無形及其他資產(chǎn)攤銷計算見表3-4（3）修理費計算。修理費按折舊額的4%計算，每年為384元。（4）借款利息計算。長期借款利息見表3-5。 3.3利潤總額及分配利潤總額及分配表見表3-6。3.4財務(wù)盈利能力分析（1）財務(wù)凈現(xiàn)金流量表（全部投資)見表3-7。所得稅后財務(wù)內(nèi)部收益率（IRR)為16.7%，財務(wù)凈現(xiàn)值（ic=10%）為536,750.61元；所得稅前財務(wù)內(nèi)部收益率（IRR）為21%，財務(wù)凈現(xiàn)值（ic=10%）為904,035.03元。財務(wù)內(nèi)部收益率均大于行業(yè)基準收益率，說明盈利能力滿足了行業(yè)最低要求，財務(wù)凈現(xiàn)值均大于零，該項目在財務(wù)上是可以考慮接受的。所得稅后的投資回收期為5.55年，所得稅前的投資回收期為4.77年，均小于表3-1銷售收入和銷售稅金及附加估算表單位：元序號項目合計計算期單位：年123456789101銷售收入12156000974000975000112250012510001121000118600013065001426000139800013960001.1妝具1294000100000100000100000126000126000126000154000154000154000154000單價20202021212122222222銷售數(shù)量6100050005000500060006000600070007000700070001.2護膚3651000300000325000350000420000390000360000390000372000372000372000單價50505060606060626262銷售量6350060006500700070006500600065006000600060001.3彩妝2175000250000225000250000200000225000200000200000225000200000200000單價50505050505050505050銷售量4350050004500500040004500400040004500400040001.4飾物4810000300000300000400000480000360000480000540000650000650000650000單價50505060606060656565銷售量8100060006000800080006000800090001000010000100001.5玩具22600024000250002250025000200002000022500250002200020000單價60505050505050505550銷售量44004005004505004004004505004004002銷售稅金及附加607800487004875056125625505605059300653257130069900698002.1營業(yè)稅48700487505612562550560505930065325713006990069800表3-2總成本費用估算表單位：元序號項目合計計算期123456789101進貨成本60000006000006000006000006000006000006000006000006000006000006000002水電費9600096009600960096009600960096009600960096003工資及福利費14500001200001200001200001500001500001500001600001600001600001600004修理費38403843843843843843843843843843845折舊費9600096009600960096009600960096009600960096006攤銷費11205001120501120501120501120501120501120501120501120501120501120507利息支出206324.565966.455772.444909.824987.92448244824482448244824488其他費用000000000009總成本費用8972664.6917600.4907406.4896543.8906621.9884082884082894082894082894082894082其中：固定成本2972664.6317600.4307406.4296543.8306621.9284082284082294082294082294082294082可變成本600000060000060000060000060000060000060000060000060000060000060000010經(jīng)營成本7549840729984729984729984759984759984759984769984769984769984769984修理費=折舊費*4%建設(shè)投資的長期借款利率為8%，流動資金的借款利率為6%表3-3固定資產(chǎn)折舊估算表單位：元序號項目合計折舊率/%達到設(shè)計能力生產(chǎn)期/年123456789101固定資產(chǎn)合計1000009.60%1000001.1原值1000001000001.2折舊費960009600960096009600960096009600960096009600凈值9040080800712006160052000424003280023200136004000表3-4無形及其他資產(chǎn)攤銷估算表單位：元序號項目攤銷年限/年原值生產(chǎn)期/年123456789101無形資產(chǎn)101000001.1攤銷100001000010000100001000010000100001000010000100001.2凈值9000080000700006000050000400003000020000100002其他資產(chǎn)1010205002.1攤銷1020501020501020501020501020501020501020501020501020501020502.2凈值9184508164007143506123005102504082003061502041001020503無形及其他資產(chǎn)合計1011205003.1攤銷合計1120501120501120501120501120501120501120501120501120501120503.2凈值合計10084508964007843506723005602504482003361502241001120500表3-5長期借款還本付息表單位：元序號項目計算期123456789101借款1.1年初借款本息余額857498.4666555.3530772.6281749.21.2本年借款7939800001.3本年借款應(yīng)計利息63518.453324.442461.822539.91.4本年還本付息190943.1189107.1291485.2304289.2其中：還本127424.7135782.7249023.4281749.2付息63518.453324.442461.822539.91.5年末本息余額666555.3530772.6281749.20.02還本資金來源127424.7135782.7249023.4333021.02.1當年可用于還本的未分配利潤5774.714132.7127373.4211371.02.2當年可用于還本的折舊和攤銷121650121650121650121650表3-6利潤和利潤分配表單位：元序號項目合計計算期123456789101產(chǎn)品銷售收入12156000974000975000112250012510001121000118600013065001426000139800013960002銷售稅金及附加607800487004875056125625505605059300653257130069900698003總成本費用89726659176009074068965449066228840828840828940828940828940828940824利潤總額（1-2-3）25755357700188441698312818281808682426183470934606184340184321185應(yīng)納稅所得額（4-5）25755357700188441698312818281808682426183470934606184340184321186所得稅6438841925471142458704574521760655867731151551085051080307凈利潤（4-6）19316525775141331273732113711356511819642603203454643255143240898可供分配利潤（7）19316525775141331273732113711356511819642603203454643255143240899未分配利潤（8-9）193165257751413312737321137113565118196426032034546432551432408910累計未分配利潤577519907147281358652494303676266936586128205016075631931652行業(yè)基準投資回收期，這表明項目投資能按時收回。 全部投資的累計凈現(xiàn)金流量圖見下圖：（2）財務(wù)現(xiàn)金流量表（自有資金）見表3-8。3.5清償能力分析清償能力分析是通過“長期借款還本付息表”“資金來源與運用表”“資產(chǎn)負債表”的計算，考察項目計算期內(nèi)各年的財務(wù)狀況及償債能力，并計算資產(chǎn)負債率、流動比率、速動比率。資金來源與運用表見表3-9 ，資產(chǎn)負債率、流動比率、速動比率等指標見表3-10。表3-7項目財務(wù)現(xiàn)金流量表單位：元序號項目合計計算期0123456789101現(xiàn)金流入122808000974000975000112250012510001121000118600013065001426000139800015208001.1銷售收入121560000974000975000112250012510001121000118600013065001426000139800013960001.2回收固定資產(chǎn)余值4000040001.3回收流動資金12080001208002現(xiàn)金流出1019282413932257833958211928565668677518766899060579504649497899479148397842.1建設(shè)投資127050012705002.2流動資金1208001208002.3經(jīng)營成本754984007299847299847299847599847599847599847699847699847699847699842.4銷售稅金及附加6078000487004875056125625505605059300653257130069900698002.5所得稅64388419254711424587045745217606558677311515510850510803003所得稅后凈現(xiàn)金流量（1-2）2087976-13932251906051538082659343832492443122799433560374762124500876810164所得稅后累計凈現(xiàn)金流量74618-1393225-1202620-1048812-782878-399629-155317124626480662956874140696020879765所得稅前凈現(xiàn)金流量2731860-13913001953161962663363914284663049663667164711915847165581166810166所得稅前累計凈現(xiàn)金流量3205180-1391300-1195984-999718-663327-23486170105436821908012149272820508442731860計算指標：所得稅后所得稅前財務(wù)內(nèi)部收益率（IRR)16.7%21%財務(wù)凈現(xiàn)值（ic=10%）536,750.61904,035.03投資回收期5.554.77表3-8項目資本金財務(wù)現(xiàn)金流量表單位：元序號項目合計計算期0123456789101現(xiàn)金流入122808000974000975000112250012510001121000118600013065001426000139800015208001.1銷售收入121560000974000975000112250012510001121000118600013065001426000139800013960001.2回收固定資產(chǎn)余值4000040001.3回收流動資金12080001208001.4其他現(xiàn)金流入002現(xiàn)金流出1011502555652097400089499091838611997288636998823879245309588879508379910622.1項目資本金5565205565202.2借款本金償還55065601274255577244910281749408002.3借款利息支付2063250659665577244910249882448244824482448244824482.4經(jīng)營成本754984007299847299847299847599847599847599847699847699847699847699842.5銷售稅金及附加6078000487004875056125625505605059300653257130069900698002.6所得稅64388401925471142458704574521760655867731151551085051080302.7其他現(xiàn)金流出003凈現(xiàn)金流量（1-2）2165775-55652008001020411451272257301303614381970467114447164529739計算指標：項目資本金內(nèi)部收益率：27%凈現(xiàn)值：836,923.54表3-9資金來源與運用表單位：元序號項目合計計算期上年余值0123456789101資金來源13913001293501404942914814034783025183642684687435822685556685537681248001.1利潤總額07700188441698312818281808682426183470934606184340184321181.2折舊費096009600960096009600960096009600960096001.3攤銷費01120501120501120501120501120501120501120501120501120501120501.4長期借款7939801.5流動資金借款4080001.6自有資金55652001.7回收固定資產(chǎn)余值40001.8回收流動資金1208002資金運用1391300129350140494291481352206452176065586773115155108505108030408002.1建設(shè)投資12705002.2流動資金1208002.3所得稅01925471142458704574521760655867731151551085051080302.4長期借款本金償還1274251357832490232817492.5流動資金借款本金償還408003盈余資金000051272257301303614381970467114447164445739840004累計盈余資金0000512723085736121869941561461270190843323541722438172表3-10資產(chǎn)負債表單位：元序號項目計算期0123456789101資產(chǎn)13913001269650114800010263509559721091623127358615339061879370220488325289721.1流動資產(chǎn)12080012080012080012080017207242937373298611149561582070202923324749721.1.1存貨1008001008001008001008001008001008001008001008001008001008001008001.1.2現(xiàn)金20000200002000020000200002000020000200002000020000200001.1.3累計盈余資金0000512723085736121869941561461270190843323541721.2固定資產(chǎn)凈值10000090400808007120061600520004240032800232001360040001.3無形及其他資產(chǎn)凈值1120500100845089640078435067230056025044820033615022410011205001.4基本預備費50000500005000050000500005000050000500005000050000500002負債及所有者權(quán)益13913001269650114800010263509559721091623127358615339061879370220488325289722.1流動負債總額40800408004080040800408004080040800408004080040800408002.1.1應(yīng)付賬款00000000002.1.2流動資金借款40800408004080040800408004080040800408004080040800408002.2長期借款7939806665555307732817490000000負債小計834780707355571573322549408004080040800408004080040800408002.3所有者權(quán)益5565205622955764277038019151721050823123278614931061838570216408324881722.3.1項目資本金5565205565205565205565205565205565205565205565205565205565205565202.3.2累計未分配利潤577519907147281358652494303676266936586128205016075631931652資產(chǎn)負債率60.0%55.7%49.8%31.4%4.3%3.7%3.2%2.7%2.2%1.9%1.6%流動比率296.1%296.1%296.1%296.1%421.7%1052.4%1796.5%2732.7%3877.6%4973.6%6066.1%速動比率49.0%49.0%49.0%49.0%174.7%805.3%1549.5%2485.7%3630.6%4726.6%5819.0%3.6不確定性分析（1）敏感性分析。該項目作了所得稅后全部投資的敏感性分析?；痉桨肛攧?wù)內(nèi)部收益率為16.7%，投資回收期為5.55年，均滿足財務(wù)基準值的要求?？紤]項目實施過程中一些不定因素的變化，分別對建設(shè)投資、經(jīng)營成本、銷售收入作了提高10%和降低10%的單因素變化對內(nèi)部收益率、投資回收期影響的敏感性分析。敏感性分析見表3-11：表3-11財務(wù)敏感性分析表項目基本方案投資經(jīng)營成本銷售收入10%-10%10%-10%10%-10%內(nèi)部收益率（%）16.7%15%18%11%22%25%8%較基本方案增減（%)-1.7%1.3%-5.7%5.3%8.3%-8.7%投資回收期（年）5.556.015.197.584.394.029.34從上表可以看出，各因素的變化都不同程度的影響內(nèi)部收益率及投資回收期，其中銷售收入的提高或降低最為敏感，經(jīng)營成本次之，投資最小。具體計算過程如下：建設(shè)投資減少10%為例計算：表3-12~3-24；建設(shè)投資增加10%如表3-25；經(jīng)營成本增加10%如表3-26；經(jīng)營成本減少10%如表3-27；銷售收入增加10%如表3-28；銷售收入減少10%如表3-29。表3-12建設(shè)投資估算表單位：元序號工程或費用名稱費用1固定資產(chǎn)費用900001.1裝修費用720001.2機器設(shè)備購置費180002無形資產(chǎn)費用900002.1加盟費900003其他資產(chǎn)費用9184503.1房租9000003.2開辦費90003.3廣告費90003.4營業(yè)執(zhí)照4504預備費450004.1基本預備費450005合計1143450表3-13流動資金估算表單位：元序號項目最低周轉(zhuǎn)天數(shù)周轉(zhuǎn)次數(shù)達到設(shè)計能力生產(chǎn)期/年123456789101流動資產(chǎn)1208001208001208001208001208001208001208001208001208001208001.1存貨1008001008001008001008001008001008001008001008001008001008001.1.1進貨成本6061000001000001000001000001000001000001000001000001000001000001.1.2水電費30128008008008008008008008008008001.2現(xiàn)金606200002000020000200002000020000200002000020000200002流動負債00000000002.1應(yīng)付賬款000000000033流動資金（1-2）120800120800120800120800120800120800120800120800120800120800表3-14投資計劃與資金籌措表單位：元序號項目合計年份/年0123456789101總資金1264250126425000000000001.1建設(shè)投資1143450114345000000000001.2流動資金12080012080000000000002資金籌措1264250126425000000000002.1自有資金5057005057000000000000其中：用于流動資金800008000000000000002.2借款75855075855000000000002.2.1長期借款7177507177500000000000其中：用于建設(shè)投資71775071775000000000002.2.2流動資金借款408004080000000000002.3其他000000000000表3-15銷售收入和銷售稅金及附加估算表序號項目合計計算期單位：年123456789101銷售收入12156000974000975000112250012510001121000118600013065001426000139800013960001.1妝具1294000100000100000100000126000126000126000154000154000154000154000單價20202021212122222222銷售數(shù)量6100050005000500060006000600070007000700070001.2護膚3651000300000325000350000420000390000360000390000372000372000372000單價50505060606060626262銷售量6350060006500700070006500600065006000600060001.3彩妝2175000250000225000250000200000225000200000200000225000200000200000單價50505050505050505050銷售量4350050004500500040004500400040004500400040001.4飾物4810000300000300000400000480000360000480000540000650000650000650000單價50505060606060656565銷售量8100060006000800080006000800090001000010000100001.5玩具22600024000250002250025000200002000022500250002200020000單價60505050505050505550銷售量44004005004505004004004505004004002銷售稅金及附加607800487004875056125625505605059300653257130069900698002.1營業(yè)稅60780048700487505612562550560505930065325713006990069800表3-16總成本費用估算表單位：元序號項目合計計算期123456789101進貨成本60000006000006000006000006000006000006000006000006000006000006000002水電費9600096009600960096009600960096009600960096003工資及福利費14500001200001200001200001500001500001500001600001600001600001600004修理費34563463463463463463463463463463465折舊費8640086408640864086408640864086408640864086406攤銷費10084501008451008451008451008451008451008451008451008451008451008457利息支出181151598684954938554184922448244824482448244824488其他費用000000000009總成本費用8825457899299888980877985887922871879871879881879881879881879881879其中：固定成本2825457299299288980277985287922271879271879281879281879281879281879可變成本600000060000060000060000060000060000060000060000060000060000060000010經(jīng)營成本7549456729946729946729946759946759946759946769946769946769946769946表3-17固定資產(chǎn)折舊估算表單位：元序號項目合計折舊率/%達到設(shè)計能力生產(chǎn)期/年123456789101固定資產(chǎn)合計900009.60%900001.1原值90000900001.2折舊費864008640864086408640864086408640864086408640凈值8136072720640805544046800381602952020880122403600表3-18無形及其他資產(chǎn)攤銷估算表單位：元序號項目攤銷年限/年原值生產(chǎn)期/年123456789101無形資產(chǎn)10900001.1攤銷90009000900090009000900090009000900090001.2凈值810007200063000540004500036000270001800090002其他資產(chǎn)109184502.1攤銷918459184591845918459184591845918459184591845918452.2凈值826605734760642915551070459225367380275535183690918453無形及其他資產(chǎn)合計1010084503.1攤銷合計1008451008451008451008451008451008451008451008451008451008453.2凈值合計9076058067607059156050705042254033803025352016901008450表3-19長期借款還本付息表單位：元序號項目計算期123456789101借款1.1年初借款本息余額7751705887644513262005491.2本年借款7177500001.3本年借款應(yīng)計利息574204710136106160441.4本年還本付息186406184539286884216592其中：還本128986137438250778200549付息574204710136106160441.5年末本息余額58876445132620054902還本資金來源1289861374382507783348812.1當年可用于還本的未分配利潤19501279531412932253962.2當年可用于還本的折舊和攤銷109485109485109485109485表3-20利潤和利潤分配表單位：元序號項目合計計算期123456789101產(chǎn)品銷售收入12156000974000975000112250012510001121000118600013065001426000139800013960002銷售稅金及附加607800487004875056125625505605059300653257130069900698003總成本費用88254578992998889808779858879228718798718798818798818798818798818794利潤總額（1-2-3）272274326001372701883903005281930712548213592964728214462214443215應(yīng)納稅所得額（4-5）272274326001372701883903005281930712548213592964728214462214443216所得稅6806866500931847098751324826863705898241182051115551110807凈利潤（4-6）204205719501279531412932253961448041911162694723546163346663332418可供分配利潤（7）204205719501279531412932253961448041911162694723546163346663332419未分配利潤（8-9）2042057195012795314129322539614480419111626947235461633466633324110累計未分配利潤19501474541887464141425589467500621019534137415017088162042057表3-21項目資本金財務(wù)現(xiàn)金流量表單位：元序號項目合計計算期0123456789101現(xiàn)金流入122804000974000975000112250012510001121000118600013065001426000139800015204001.1銷售收入121560000974000975000112250012510001121000118600013065001426000139800013960001.2回收固定資產(chǎn)余值3600036001.3回收流動資金12080001208001.4其他現(xiàn)金流入002現(xiàn)金流出998323150570097400088711191027611166688667118853999275439618999538499940742.1項目資本金5057005057002.2借款本金償還45843801289864954938554200549408002.3借款利息支付1811510598684954938554184922448244824482448244824482.4經(jīng)營成本754945607299467299467299467599467599467599467699467699467699467699462.5銷售稅金及附加6078000487004875056125625505605059300653257130069900698002.6所得稅68068606500931847098751324826863705898241182051115551110803凈現(xiàn)金流量（1-2）2297169-505700087889212224134332254289300601378957464101444151526326計算指標：項目資本金內(nèi)部收益率：31%凈現(xiàn)值：￥947,964表3-22項目財務(wù)現(xiàn)金流量表單位：元序號項目計算期0123456789101現(xiàn)金流入0974000975000112250012510001121000118600013065001426000139800015204001.1銷售收入0974000975000112250012510001121000118600013065001426000139800013960001.2回收固定資產(chǎn)余值036001.3回收流動資金01208001.4其他現(xiàn)金流入02現(xiàn)金流出12707507879638257938612028707638797019090709534769528019509268397462.1建設(shè)投資11434502.2流動資金1208002.3經(jīng)營成本07299467299467299467599467599467599467699467699467699467699462.4銷售稅金及附加0487004875056125625505605059300653257130069900698002.5所得稅65009318470987513248268637058982411820511155511108003所得稅后凈現(xiàn)金流量（1-2）-12707501860371492072612983802372412992769303530244731994470746806544所得稅后累計凈現(xiàn)金流量-1270750-1084714-935507-674209-293973-526742242575772811050480149755421782085所得稅前凈現(xiàn)金流量-12642501953541963043364294285043050043667544712295847545581546806546所得稅前累計凈現(xiàn)金流量-1264250-1068896-872591-536162-1076571973475641011035331162008521782402858894計算指標：所得稅后所得稅前項目財務(wù)內(nèi)部收益率（%）：18%項目財務(wù)內(nèi)部收益率（%）：23%項目財務(wù)凈現(xiàn)值（ic=10%）：￥637,789.28項目財務(wù)凈現(xiàn)值（ic=10%）：￥1,031,166.77靜態(tài)投資回收期：5.19靜態(tài)投資回收期：4.35表3-23資產(chǎn)負債表單位：元序號項目計算期0123456789101資產(chǎn)1264250115476510452809357959606421105446129656215660341920650225531625885571.1流動資產(chǎn)12080012080012080012080025513250942181002211889791653080209723125399571.1.1應(yīng)收賬款1.1.2存貨1008001008001008001008001008001008001008001008001008001008001008001.1.3現(xiàn)金20000200002000020000200002000020000200002000020000200001.1.4累計盈余資金000013433238862168922210681791532280197643124191571.2固定資產(chǎn)凈值9000081360727206408055440468003816029520208801224036001.3無形及其他資產(chǎn)凈值100845090760580676070591560507050422540338030253520169010084501.4基本預備費45000450004500045000450004500045000450004500045000450002負債及所有者權(quán)益1264250115476510452809357959606421105446129656215660341920650225531625885572.1流動負債總額40800408004080040800408004080040800408004080040800408002.1.1應(yīng)付賬款00000000002.1.2流動資金借款40800408004080040800408004080040800408004080040800408002.2長期借款7177505887644513262005490000000負債小計758550629564492126241349408004080040800408004080040800408002.3所有者權(quán)益5057005252015531546944469198421064646125576215252341879850221451625477572.3.1項目資本金5057005057005057005057005057005057005057005057005057005057005057002.3.2資本公積金2.3.3累計盈余公積金和公益金2.3.4累計未分配利潤19501474541887464141425589467500621019534137415017088162042057計算指標：資產(chǎn)負債率60.0%54.5%47.1%25.8%4.2%3.7%3.1%2.6%2.1%1.8%1.6%流動比率296.1%296.1%296.1%296.1%625.3%1248.6%1985.3%2914.2%4051.7%5140.3%6225.4%速動比率49.0%49.0%49.0%49.0%378.3%1001.5%1738.3%2667.1%3804.6%4893.2%5978.3%序號項目表3-24資金來源與運用表單位：元上年余值0123456789101資金來源12642501354861467552978754100133025563643064687815823065557065538061244001.1利潤總額026001372701883903005281930712548213592964728214462214443211.2折舊費086408640864086408640864086408640864086401.3攤銷費01008451008451008451008451008451008451008451008451008451008451.4長期借款7177501.5流動資金借款4080001.6自有資金50570001.7其他1.8回收固定資產(chǎn)余值36001.9回收流動資金1208002資金運用1264250135486146755297875275680482686370589824118205111555111080408002.1建設(shè)投資11434502.2流動資金1208002.3所得稅06500931847098751324826863705898241182051115551110802.4應(yīng)付利潤2.5長期借款本金償還1289861374382507782005492.6流動資金借款本金償還408003盈余資金0000134332254289300601378957464101444151442726836004累計盈余資金000013433238862168922210681791532280197643124191572502757表3-25項目財務(wù)現(xiàn)金流量表單位：元序號項目合計計算期0123456789101現(xiàn)金流入0974000975000112250012510001121000118600013065001426000139800015208001.1銷售收入0974000975000112250012510001121000118600013065001426000139800013960001.2回收固定資產(chǎn)余值040001.3回收流動資金01208001.4其他現(xiàn)金流入02現(xiàn)金流出15202757833958211928565668677518766899060579504649497899479148397842.1建設(shè)投資13975502.2流動資金1208002.3經(jīng)營成本07299847299847299847599847599847599847699847699847699847699842.4銷售稅金及附加0487004875056125625505605059300653257130069900698002.5所得稅19254711424587045745217606558677311515510850510803003所得稅后凈現(xiàn)金流量（1-2）-15202751906051538082659343832492443122799433560374762124500876810164所得稅后累計凈現(xiàn)金流量-1520275-1329670-1175862-909928-526679-282367-2424353612829824127991019609265所得稅前凈現(xiàn)金流量-15183501953161962663363914284663049663667164711915847165581166810166所得稅前累計凈現(xiàn)金流量-1518350-1323034-1126768-790377-361911-56945309771780962136567819237942604810計算指標：所得稅后所得稅前項目財務(wù)內(nèi)部收益率（%）：15%項目財務(wù)內(nèi)部收益率（%）：19%項目財務(wù)凈現(xiàn)值（ic=10%）：￥409,700.61項目財務(wù)凈現(xiàn)值（ic=10%）：￥776,985.03靜態(tài)投資回收期：6.01靜態(tài)投資回收期：5.19表3-26項目財務(wù)現(xiàn)金流量表單位：元序號項目合計計算期0123456789101現(xiàn)金流入0974000975000112250012510001121000118600013065001426000139800015208001.1銷售收入0974000975000112250012510001121000118600013065001426000139800013960001.2回收固定資產(chǎn)余值040001.3回收流動資金01208001.4其他現(xiàn)金流入02現(xiàn)金流出13932258563938941909295649437499526879820561027462102678710249129167822.1建設(shè)投資12705002.2流動資金1208002.3經(jīng)營成本08029828029828029828359828359828359828469828469828469828469822.4銷售稅金及附加0487004875056125625505605059300653257130069900698002.5所得稅19254711424587045745217606558677311515510850510803003所得稅后凈現(xiàn)金流量（1-2）-1393225117607808101929363072511683132039442790383992133730886040184所得稅后累計凈現(xiàn)金流量-1393225-1275618-1194808-1001873-694622-526309-322365-4332735588672897513329925所得稅前凈現(xiàn)金流量-13913001223181232682633933524682289682907183941935077184811186040186所得稅前累計凈現(xiàn)金流量-1391300-1268982-1145715-882322-529855-300887-1016938402389174113728581976876計算指標：所得稅后所得稅前項目財務(wù)內(nèi)部收益率（%）：11%項目財務(wù)內(nèi)部收益率（%）：15%項目財務(wù)凈現(xiàn)值（ic=10%）：￥75,444.59項目財務(wù)凈現(xiàn)值（ic=10%）：￥442,729.01靜態(tài)投資回收期：7.58靜態(tài)投資回收期：6.31表3-27項目財務(wù)現(xiàn)金流量表單位：元序號項目合計計算期0123456789101現(xiàn)金流入0974000975000112250012510001121000118600013065001426000139800015208001.1銷售收入0974000975000112250012510001121000118600013065001426000139800013960001.2回收固定資產(chǎn)余值040001.3回收流動資金01208001.4其他現(xiàn)金流入02現(xiàn)金流出13932257103967481937835687917538006908300598734658727908709157627862.1建設(shè)投資12705002.2流動資金1208002.3經(jīng)營成本06569866569866569866839866839866839866929866929866929866929862.4銷售稅金及附加0487004875056125625505605059300653257130069900698002.5所得稅19254711424587045745217606558677311515510850510803003所得稅后凈現(xiàn)金流量（1-2）-13932252636042268073389324592473203103559414330355532105270857580144所得稅后累計凈現(xiàn)金流量-1393225-1129621-902815-563882-10463521567557161610046511557861208494628429605所得稅前凈現(xiàn)金流量-13913002683142692644093895044643809644427145481896617146351147580146所得稅前累計凈現(xiàn)金流量-1391300-1122986-853721-444332601334410978838111432001209371527288303486844計算指標：所得稅后所得稅前項目財務(wù)內(nèi)部收益率（%）：22%項目財務(wù)內(nèi)部收益率（%）：26%項目財務(wù)凈現(xiàn)值（ic=10%）：￥998,056.63項目財務(wù)凈現(xiàn)值（ic=10%）：￥1,365,341靜態(tài)投資回收期：4.39靜態(tài)投資回收期：3.84表3-28項目財務(wù)現(xiàn)金流量表單位：元序號項目合計計算期0123456789101現(xiàn)金流入010714001072500123475013761001233100130460014371501568600153780016604001.1銷售收入010714001072500123475013761001233100130460014371501568600153780015356001.2回收固定資產(chǎn)余值040001.3回收流動資金01208001.4其他現(xiàn)金流入02現(xiàn)金流出15202757833958211928565668677518766899060579504649497899479148397842.1建設(shè)投資12705002.2流動資金1208002.3經(jīng)營成本07299847299847299847599847599847599847699847699847699847699842.4銷售稅金及附加0487004875056125625505605059300653257130069900698002.5所得稅19254711424587045745217606558677311515510850510803003所得稅后凈現(xiàn)金流量（1-2）-13932252880052513083781845083493564123985434866876188125898878206164所得稅后累計凈現(xiàn)金流量-1393225-1105220-853912-4757283262138903378757612742621893074248296033035765所得稅前凈現(xiàn)金流量-13913002927162937664486415535664170664853166018417273166979168206166所得稅前累計凈現(xiàn)金流量-1391300-1098584-804818-35617719738961445510997711701612242892831268443947460計算指標：所得稅后所得稅前項目財務(wù)內(nèi)部收益率（%）：25%項目財務(wù)內(nèi)部收益率（%）：28%項目財務(wù)凈現(xiàn)值（ic=10%）：￥1,258,885.29項目財務(wù)凈現(xiàn)值（ic=10%）：￥1,626,169靜態(tài)投資回收期：4.02靜態(tài)投資回收期：3.53表3-29項目財務(wù)現(xiàn)金流量表單位：元序號項目合計計算期0123456789101現(xiàn)金流入0876600877500101025011259001008900106740011758501283400125820013812001.1銷售收入0876600877500101025011259001008900106740011758501283400125820012564001.2回收固定資產(chǎn)余值040001.3回收流動資金01208001.4其他現(xiàn)金流入02現(xiàn)金流出15202757833958211928565668677518766899060579504649497899479148397842.1建設(shè)投資12705002.2流動資金1208002.3經(jīng)營成本07299847299847299847599847599847599847699847699847699847699842.4銷售稅金及附加0487004875056125625505605059300653257130069900698002.5所得稅19254711424587045745217606558677311515510850510803003所得稅后凈現(xiàn)金流量（1-2）-139322593205563081536842581491322121613432253873336123102875414164所得稅后累計凈現(xiàn)金流量-1393225-1300020-1243712-1090028-831879-699667-538324-312938206743309608723765所得稅前凈現(xiàn)金流量-139130097916987662241413033661928662481163405414421164183165414166所得稅前累計凈現(xiàn)金流量-1391300-1293384-1194618-970477-667111-474245-2261291144125565289748441516260計算指標：所得稅后所得稅前項目財務(wù)內(nèi)部收益率（%）：8%項目財務(wù)內(nèi)部收益率（%）：12%項目財務(wù)凈現(xiàn)值（ic=10%）：￥-185,384.06項目財務(wù)凈現(xiàn)值（ic=10%）：￥181,900.36靜態(tài)投資回收期：9.34靜態(tài)投資回收期：7.46敏感性分析圖見下圖：盈虧平衡分析。以生產(chǎn)能力利用率表示的盈虧平衡點（BEP）,其計算公式為BEP= ==53.58%因此可見，該項目風險較小。盈虧平衡圖見下圖： 從上述財務(wù)評價看，財務(wù)內(nèi)部收益率高于行業(yè)基準收益率，投資回收期低于行業(yè)基準投資回收期，借款償還期能滿足貸款機構(gòu)的要求。從敏感性分析看項目具有一定的抗風險能力，因此，項目從財務(wù)評價上講是可行的。目錄TOC\o"1-2"\h\z\u1總論 11.1概述 11.2設(shè)計依據(jù) 11.3概況 1HYPERLINK\l"_Toc28