TCL財務(wù)分析報告

TCL財務(wù)分析匯報資產(chǎn)負(fù)債表水平分析：資產(chǎn)負(fù)債水平分析表項目-12-31-12-31變動情形對總資產(chǎn)阻礙變動額變動率貨幣資金25,946,400,000.009,641,990,000.0016,304,410,000.00169.10%53.93%交易性金融資產(chǎn)410,166,000.0030,753,700.00379,412,300.001233.71%1.25%應(yīng)收票據(jù)2,567,260,000.00954,003,000.001,613,257,000.00169.10%5.34%應(yīng)收賬款5,541,620,000.005,741,030,000.00-199,410,000.00-3.47%-0.66%預(yù)付款項669,931,000.00628,892,000.0041,039,000.006.53%0.14%應(yīng)收利息143,533,000.0018,769,000.00124,764,000.00664.73%0.41%其他應(yīng)收款1,558,480,000.00950,357,000.00608,123,000.0063.99%2.01%存貨7,688,760,000.006,636,080,000.001,052,680,000.0015.86%3.48%流淌資產(chǎn)合計44,526,100,000.0024,601,900,000.0019,924,200,000.0080.99%65.90%持有至到期投資2,121,500.00--2,121,500.00長期股權(quán)投資1,236,620,000.00867,267,000.00369,353,000.0042.59%1.22%投資性房地產(chǎn)733,308,000.00248,205,000.00485,103,000.00195.44%1.60%固定資產(chǎn)原值5,577,920,000.005,772,040,000.00-194,120,000.00-3.36%-0.64%合計折舊2,545,090,000.002,595,370,000.00-50,280,000.00-1.94%-0.17%固定資產(chǎn)凈值3,032,830,000.003,176,670,000.00-143,840,000.00-4.53%-0.48%固定資產(chǎn)減值預(yù)備152,320,000.00107,620,000.0044,700,000.0041.54%0.15%固定資產(chǎn)凈額2,880,510,000.003,069,050,000.00-188,540,000.00-6.14%-0.62%在建工程2,040,360,000.00436,652,000.001,603,708,000.00367.27%5.30%無形資產(chǎn)893,724,000.00419,033,000.00474,691,000.00113.28%1.57%開發(fā)支出55,326,000.0038,883,300.0016,442,700.0042.29%0.05%商譽(yù)562,046,000.00440,127,000.00121,919,000.0027.70%0.40%長期待攤費用50,587,800.0040,741,200.009,846,600.0024.17%0.03%遞延所得稅資產(chǎn)57,663,000.0037,244,600.0020,418,400.0054.82%0.07%其他非流淌資產(chǎn)439,680,000.0035,375,500.00404,304,500.001142.89%1.34%非流淌資產(chǎn)合計8,951,940,000.005,632,580,000.003,319,360,000.0058.93%10.98%資產(chǎn)總計53,478,100,000.0030,234,400,000.0023,243,700,000.0076.88%76.88%短期借款13,457,800,000.005,013,670,000.008,444,130,000.00168.42%27.93%吸取存款及同業(yè)寄存108,824,000.00116,858,000.00-8,034,000.00-6.88%-0.03%拆入資金480,000,000.00150,000,000.00330,000,000.00220.00%1.09%交易性金融負(fù)債175,064,000.006,798,350.00168,265,650.002475.10%0.56%應(yīng)對票據(jù)1,698,210,000.001,336,150,000.00362,060,000.0027.10%1.20%應(yīng)對賬款6,653,100,000.006,805,330,000.00-152,230,000.00-2.24%-0.50%預(yù)收款項1,238,640,000.00757,751,000.00480,889,000.0063.46%1.59%應(yīng)對職工薪酬613,145,000.00495,560,000.00117,585,000.0023.73%0.39%應(yīng)交稅費-28,793,500.00-37,680,300.008,886,800.00-23.58%0.03%應(yīng)對利息71,435,600.0015,521,700.0055,913,900.00360.23%0.18%應(yīng)對股利1,116,550.001,116,140.00410.000.04%-0.62%其他應(yīng)對款3,613,480,000.003,800,790,000.00-187,310,000.00-4.93%-0.62%一年內(nèi)到期的非流淌負(fù)債1,492,000,000.00192,680,000.001,299,320,000.00674.34%4.30%其他流淌負(fù)債943,058,000.00764,643,000.00178,415,000.0023.33%0.59%流淌負(fù)債合計30,517,100,000.0019,419,200,000.0011,097,900,000.0057.15%36.71%長期借款1,929,290,000.002,074,420,000.00-145,130,000.00-7.00%-0.48%應(yīng)對債券1,975,500,000.00--1,975,500,000.006.53%長期應(yīng)對款16,681,000.0019,588,800.00-2,907,800.00-14.84%-0.01%遞延所得稅負(fù)債22,945,900.0010,403,100.0012,542,800.00120.57%2.12%其他非流淌負(fù)債924,113,000.00282,424,000.00641,689,000.00227.21%2.12%非流淌負(fù)債合計4,868,530,000.002,386,830,000.002,481,700,000.00103.97%8.21%負(fù)債合計35,385,600,000.0021,806,000,000.0013,579,600,000.0062.27%44.91%實收資本(或股本)4,238,110,000.002,936,930,000.001,301,180,000.0044.30%4.30%資本公積5,694,300,000.002,451,170,000.003,243,130,000.00132.31%10.73%盈余公積567,053,000.00567,053,000.000.000.00%0.00%同樣風(fēng)險預(yù)備360,766.00360,766.000.000.00%0.00%未分派利潤-241,699,000.00-674,237,000.00432,538,000.00-64.15%1.43%外幣報表折算差額16,217,600.0011,342,400.004,875,200.0042.98%0.02%歸屬于母企業(yè)股東權(quán)益合計10,274,300,000.005,292,620,000.004,981,680,000.0094.13%16.48%少數(shù)股東權(quán)益7,818,090,000.003,135,810,000.004,682,280,000.00149.32%15.49%所有者權(quán)益合計18,092,400,000.008,428,430,000.009,663,970,000.00114.66%31.96%負(fù)債和所有者權(quán)益總計53,478,100,000.0030,234,400,000.0023,243,700,000.0076.88%76.88%從投資或資產(chǎn)角度進(jìn)行分析評判：該企業(yè)總資產(chǎn)本期增長了23,243,700,000.00元，增長幅度為76.88%，闡明TCL企業(yè)本年資產(chǎn)規(guī)模有較大幅度的增長。深入分析可以發(fā)現(xiàn)：（1）流淌資產(chǎn)本期增長了19,924,200,000.00元，增長的幅度為80.99%，使總資產(chǎn)增長了65.90%。非流淌資產(chǎn)本期增長了3,319,360,000.00元，增長的幅度為58.93%，使總資產(chǎn)規(guī)模增長了10.98%，兩者合計使總資產(chǎn)增長了23,243,700,000.00元，增長幅度為76.88%。（2）本期總資產(chǎn)的增長要緊體現(xiàn)在流淌資產(chǎn)的增長上。假如僅從這一變化來看，該企業(yè)流淌的流淌性有所增強(qiáng)。盡管流淌資產(chǎn)的各項目均有不一樣程度的增減變動，但其增長的要緊體現(xiàn)在三個方面：一是貨幣資金的大幅度的增長。貨幣資金本期增長了16,304,410,000.00元，增長的幅度為169.10%，對總資產(chǎn)的阻礙為53.93%。貨幣資金的增長對提高企業(yè)的償債能力、滿足資金流淌性需要差不多上有利的。因此，有關(guān)貨幣資金的這種變化，還應(yīng)結(jié)合該企業(yè)現(xiàn)金需要量，從資金運用成效方面進(jìn)行分析，如此才能做出恰當(dāng)?shù)姆治龊驮u判！二是應(yīng)收票據(jù)的增長。應(yīng)收票據(jù)本期增長了1,613,257,000.00元，增長幅度為169.10%，對總資產(chǎn)的阻礙是5.34%。兩者合計使總資產(chǎn)本期增長了59.27%，應(yīng)收票據(jù)是核算企業(yè)因銷售商品，提供勞務(wù)等而收到的商業(yè)匯票。該項目的增長應(yīng)結(jié)合企業(yè)銷售規(guī)模變動、信用政策和收賬政策進(jìn)行評判。三是存貨的增長。存貨本期增長了1,052,680,000.00元，增長幅度為15.86%，對總資產(chǎn)的阻礙為3.48%。結(jié)合在建工程變動情形，可以認(rèn)為這種變動有助于形成現(xiàn)實的生產(chǎn)能力。（3）非流淌資產(chǎn)的變動要緊體現(xiàn)在三個方面：一是在建工程的增長。在建工程本期增長了1,603,708,000.00元，增長幅度為367.27%，使總資產(chǎn)規(guī)模增長了5.30%。是非流淌資產(chǎn)中對總資產(chǎn)變動阻礙最大的項目。在建工程的增長也體現(xiàn)了一種企業(yè)的生產(chǎn)能力的增強(qiáng)。二是投資性房地產(chǎn)的增長。投資性房地產(chǎn)本期增長了485,103,000.00元，增長幅度為195.44%，使總資產(chǎn)規(guī)模增長了1.60%。三是無形資產(chǎn)的增長。無形資產(chǎn)本期增長了474,691,000.00元，增長幅度為113.28%，使總資產(chǎn)規(guī)模增長了1.57%。2．從籌資或權(quán)益角度進(jìn)行分析評判：該企業(yè)權(quán)益總額較上年同期增長了23,243,700,000.00元，增長幅度為76.88%，闡明TCL企業(yè)本期權(quán)益總額有較大幅度的增長。深入分析可以發(fā)現(xiàn)：（1）負(fù)債本期增長了13,579,600,000.00元，增長幅度為62.27%，使權(quán)益總額增長了44.91%。股東權(quán)益總額增長了9,663,970,000.00元，增長幅度為114.66%，使權(quán)益總額增長了31.96%。兩者合計使權(quán)益總額本期增長了23,243,700,000.00元，增長幅度為76.88%。（2）本期權(quán)益總額增長要緊體現(xiàn)在負(fù)債的增長上，流淌負(fù)債的增長是要緊方面。流淌負(fù)債本期增長11,097,900,000.00元，增長幅度為57.15%，對權(quán)益總額的阻礙為36.71%，這種變動也許導(dǎo)致企業(yè)償債壓力的加大及財務(wù)風(fēng)險的增長。流淌負(fù)債增長要緊體現(xiàn)在短期借款的增長。短期借款本期增長了8,444,130,000.00元，增長幅度為168.42%，企業(yè)會因此面臨較大的償債壓力。非流淌負(fù)債本期增長2,481,700,000.00元，增長幅度為103.97%，對權(quán)益總額的阻礙為8.21%（3）股東權(quán)益總額本期增長了9,663,970,000.00元，增長幅度為114.66%，對權(quán)益總額的阻礙為31.96%。其中歸屬于母企業(yè)股東權(quán)益合計本期增長了4,981,680,000.00，增長幅度為94.13%，對權(quán)益總額的阻礙為16.48%。少數(shù)股東權(quán)益本期增長了4,682,280,000.00，增長幅度為149.32%，對權(quán)益總額的阻礙為15.49%。綜上可以鑒定出該企業(yè)屬于負(fù)債變動型。二．資產(chǎn)負(fù)債表垂直分析：資產(chǎn)負(fù)債表垂直分析表項目-12-31-12-31變動情形貨幣資金25,946,400,000.009,641,990,000.0048.52%31.89%16.63%交易性金融資產(chǎn)410,166,000.0030,753,700.000.77%0.10%0.67%應(yīng)收票據(jù)2,567,260,000.00954,003,000.004.80%3.16%1.65%應(yīng)收賬款5,541,620,000.005,741,030,000.0010.36%18.99%-8.63%預(yù)付款項669,931,000.00628,892,000.001.25%2.08%-0.83%應(yīng)收利息143,533,000.0018,769,000.000.27%0.06%0.21%其他應(yīng)收款1,558,480,000.00950,357,000.002.91%3.14%-0.23%存貨7,688,760,000.006,636,080,000.0014.38%21.95%-7.57%流淌資產(chǎn)合計44,526,100,000.0024,601,900,000.0083.26%81.37%1.89%長期股權(quán)投資1,236,620,000.00867,267,000.002.31%2.87%-0.56%投資性房地產(chǎn)733,308,000.00248,205,000.001.37%0.82%0.55%固定資產(chǎn)原值5,577,920,000.005,772,040,000.0010.43%19.09%-8.66%合計折舊2,545,090,000.002,595,370,000.004.76%8.58%-3.83%固定資產(chǎn)凈值3,032,830,000.003,176,670,000.005.67%10.51%-4.84%固定資產(chǎn)減值預(yù)備152,320,000.00107,620,000.000.28%0.36%-0.07%固定資產(chǎn)凈額2,880,510,000.003,069,050,000.005.39%10.15%-4.76%在建工程2,040,360,000.00436,652,000.003.82%1.44%2.37%無形資產(chǎn)893,724,000.00419,033,000.001.67%1.39%0.29%開發(fā)支出55,326,000.0038,883,300.000.10%0.13%-0.03%商譽(yù)562,046,000.00440,127,000.001.05%1.46%-0.40%長期待攤費用50,587,800.0040,741,200.000.09%0.13%-0.04%遞延所得稅資產(chǎn)57,663,000.0037,244,600.000.11%0.12%-0.02%其他非流淌資產(chǎn)439,680,000.0035,375,500.000.82%0.12%0.71%非流淌資產(chǎn)合計8,951,940,000.005,632,580,000.0016.74%18.63%-1.89%資產(chǎn)總計53,478,100,000.0030,234,400,000.00100.00%100.00%0.00%短期借款13,457,800,000.005,013,670,000.0025.17%16.58%8.58%吸取存款及同業(yè)寄存108,824,000.00116,858,000.000.20%0.39%-0.18%拆入資金480,000,000.00150,000,000.000.90%0.50%0.40%交易性金融負(fù)債175,064,000.006,798,350.000.33%0.02%0.30%應(yīng)對票據(jù)1,698,210,000.001,336,150,000.003.18%4.42%-1.24%應(yīng)對賬款6,653,100,000.006,805,330,000.0012.44%22.51%-10.07%預(yù)收款項1,238,640,000.00757,751,000.002.32%2.51%-0.19%應(yīng)對職工薪酬613,145,000.00495,560,000.001.15%1.64%-0.49%應(yīng)交稅費-28,793,500.00-37,680,300.00-0.05%-0.12%0.07%應(yīng)對利息71,435,600.0015,521,700.000.13%0.05%0.08%應(yīng)對股利1,116,550.001,116,140.000.00%0.00%0.00%其他應(yīng)對款3,613,480,000.003,800,790,000.006.76%12.57%-5.81%一年內(nèi)到期的非流淌負(fù)債1,492,000,000.00192,680,000.002.79%0.64%2.15%其他流淌負(fù)債943,058,000.00764,643,000.001.76%2.53%-0.77%流淌負(fù)債合計30,517,100,000.0019,419,200,000.0057.06%64.23%-7.16%長期借款1,929,290,000.002,074,420,000.003.61%6.86%-3.25%應(yīng)對債券1,975,500,000.00--3.69%3.69%長期應(yīng)對款16,681,000.0019,588,800.000.03%0.06%-0.03%遞延所得稅負(fù)債22,945,900.0010,403,100.000.04%0.03%0.01%其他非流淌負(fù)債924,113,000.00282,424,000.001.73%0.93%0.79%非流淌負(fù)債合計4,868,530,000.002,386,830,000.009.10%7.89%1.21%負(fù)債合計35,385,600,000.0021,806,000,000.0066.17%72.12%-5.95%實收資本(或股本)4,238,110,000.002,936,930,000.007.92%9.71%-1.79%資本公積5,694,300,000.002,451,170,000.0010.65%8.11%2.54%盈余公積567,053,000.00567,053,000.001.06%1.88%-0.82%同樣風(fēng)險預(yù)備360,766.00360,766.000.00%0.00%0.00%未分派利潤-241,699,000.00-674,237,000.00-0.45%-2.23%1.78%外幣報表折算差額16,217,600.0011,342,400.000.03%0.04%-0.01%歸屬于母企業(yè)股東權(quán)益合計10,274,300,000.005,292,620,000.0019.21%17.51%1.71%少數(shù)股東權(quán)益7,818,090,000.003,135,810,000.0014.62%10.37%4.25%所有者權(quán)益(或股東權(quán)益)合計18,092,400,000.008,428,430,000.0033.83%27.88%5.95%負(fù)債和所有者權(quán)益(或股東權(quán)益)總計53,478,100,000.0030,234,400,000.00100.00%100.00%0.00%1.資產(chǎn)構(gòu)造分析評判：（1）從靜態(tài)方面分析。就同樣意義而言，企業(yè)流淌資產(chǎn)變現(xiàn)能力強(qiáng)，其資產(chǎn)風(fēng)險較小，非流淌資產(chǎn)變現(xiàn)能力較差，其資產(chǎn)風(fēng)險驕較大。因此，流淌資產(chǎn)比重較大時，企業(yè)資產(chǎn)的流淌性較強(qiáng)而風(fēng)險小，費流淌資產(chǎn)比重較高時，企業(yè)資產(chǎn)彈性較差，不利于企業(yè)靈活調(diào)度資金，風(fēng)險較大。該企業(yè)本期流淌資產(chǎn)44,526,100,000.00元，比重高達(dá)83.26%，非流淌資產(chǎn)比重僅為16.74%。根據(jù)該企業(yè)的資產(chǎn)構(gòu)造，可以認(rèn)為該企業(yè)資產(chǎn)的流淌性較強(qiáng)，資產(chǎn)風(fēng)險較小。（2）從動態(tài)方面分析。本期該企業(yè)流淌資產(chǎn)比重上升了1.89%，非流淌資產(chǎn)比重下降了1.89%，結(jié)合個資產(chǎn)項目的構(gòu)造變動情形來看，除貨幣資金的比重上升了16.63%，應(yīng)收賬款下降了8.63%，存貨下降了7.57%，固定資產(chǎn)原值下降了8.66%，合計折舊下降了3.83%，固定資產(chǎn)凈值下降了4.84%以外，其他項目變動幅度變化幅度不是專門大，闡明該企業(yè)的資產(chǎn)構(gòu)造相對穩(wěn)固。2.資本構(gòu)造分析評判：（1）從靜態(tài)方面看，該企業(yè)股東權(quán)益比重為33.83%，負(fù)債比重66.17%，資產(chǎn)負(fù)債率仍舊比較高的，財務(wù)風(fēng)險相對較大。如此的財務(wù)構(gòu)造與否合適，僅憑以上分析難以作出鑒定，必須結(jié)合企業(yè)盈利能力，通過權(quán)益構(gòu)造優(yōu)化分析才能予以闡明。（2）從動態(tài)能力分析，該企業(yè)股東權(quán)益比重上升了5.95%，負(fù)債比重下降了7.16%，各項目除應(yīng)對賬款下降了10.07%外，其他變化幅度不大，闡明資本構(gòu)造海華絲比較穩(wěn)固的，財務(wù)實力旅行提高。3．從資產(chǎn)構(gòu)造與資本構(gòu)造適應(yīng)程度分析，該企業(yè)屬于穩(wěn)健構(gòu)造類型。三．資產(chǎn)負(fù)債表項目分析：1.要緊資產(chǎn)項目分析：（1）貨幣資金：根據(jù)以上兩表可以對TCL集團(tuán)的貨幣存量規(guī)模、比重及變動情形作如下分析評判：=1\*GB3①從存量規(guī)模及變動情形來看，本年貨幣資金比上年增長元，增長了169.1%，變動幅度較大。其緣故一是營業(yè)收入增長17.02%，是貨幣資金對應(yīng)增長；二是應(yīng)對票據(jù)增長36206萬元是現(xiàn)金支付減少；三是經(jīng)營活動現(xiàn)金流的改善，本年經(jīng)營活動現(xiàn)金流量凈額元，上年為元。=2\*GB3②從比重及變動規(guī)模情形看，該企業(yè)期末貨幣資金比重為48.52%，期初比重為31.89%，貨幣資金比重上升了16.63%。貨幣資金的增長對提高企業(yè)的償債能力、滿足資金流淌性需要差不多上有利的。因此，有關(guān)貨幣資金的這種變化，還應(yīng)結(jié)合該企業(yè)現(xiàn)金需要量，從資金運用成效方面進(jìn)行分析，如此才能做出恰當(dāng)?shù)姆治龊驮u判?。?）應(yīng)收款項：根據(jù)以上兩表可以對TCL集團(tuán)的應(yīng)收款項規(guī)模、比重及變動情形作如下分析評判：=1\*GB3①從規(guī)模及變動情形來看，應(yīng)收票據(jù)本期增長了元，增長幅度為169.10%，變動幅度較大。=2\*GB3②應(yīng)收賬款減少了元，增長幅度為-3.47%，相對來說減少了應(yīng)收賬款，壞賬預(yù)備減少。③本年其他應(yīng)收款增長了608,123,000元，增長率為63.99%，變動幅度較大。（3）存貨：根據(jù)以上兩表可以對TCL集團(tuán)的存貨規(guī)模、比重及變動情形作如下分析評判：=1\*GB3①從存量規(guī)模及變動情形來看，存貨本期增長了元，增長幅度為15.86%，對總資產(chǎn)的阻礙為3.48%。=2\*GB3②從比重及變動規(guī)模情形看，該企業(yè)期末存貨比重為14.38%，期初比重為21.95%，存貨比重下降了7.57%。要緊緣故是銷售規(guī)模增長導(dǎo)致存貨儲備增長。（4）固定資產(chǎn)：根據(jù)以上兩表可以對TCL集團(tuán)的固定資產(chǎn)規(guī)模、比重及變動情形作如下分析評判：=1\*GB3①從規(guī)模及變動情形來看，固定資產(chǎn)原值本期減少19410元，減少幅度為3.36%。；固定資產(chǎn)凈值本期減少元，減少幅度為4.53%=2\*GB3②從比重及變動規(guī)模情形看，該企業(yè)期末固定資產(chǎn)原值比重為10.43%，期初比重為19.09%，比重下降了8.66%；期末固定資產(chǎn)凈值比重為5.67%，期初比重為10.51%，比重下降了4.884%。要緊負(fù)債項目分析：（1）短期借款：根據(jù)以上兩表可以對TCL集團(tuán)的短期借款規(guī)模、比重及變動情形作如下分析評判：=1\*GB3①從規(guī)模及變動情形來看，短期借款本期增長了元