苏宁环球股份有限公司2018年度财务报表分析报告

1、苏宁环球股份有限公司2018年度财务报表分析报告本报告以上市公司2016-2018年度财务报表数据为分析基础 包括资产负债表、利润表、现金流量表和所有者权益变动表水平、垂直分析财务指标盈利能力、偿债能力、营运能力、发展成长能力、杜邦等分析This report is based on the data of financial statements of Listed Companies in 2016-2018.Including horizontal and vertical analysis of SOFP, profit statement, cash flow statement a

2、nd owner's equity statementFinancial Indicators Profit, Debt Payment, Operations, Development, DuPont, etc.目录CONTENTS1 财务报表数据4.2 杜邦分析图151.1 资产负债表 11 Financial Statement Data1.2 禾1J润表2Blance Sheets 11.3 现金流量表 3Income Sheets 21.4 所有者权益变动表 4Cash Flow Sheets 32 会计报表分析Changes in Owner's Equity Sh

3、eets 42.1 资产负债表分析 52 Analysis of Accounting Statements2.1.1 水平趋势分析 5Analysis of Blance Sheets 52.1.2 垂直结构分析 6Horizontal analysis 52.2 利润表分析7Vertical Analysis 62.2.1 水平趋势分析 7Analysis of Income Sheets .72.2.2 垂直结构分析8Horizontal analysis 72.3 现金流量表分析9Vertical Analysis 82.3.1 水平趋势分析 9Analysis of Cash Flo

4、w Sheets 92.3.2 垂直结构分析10Horizontal analysis 92.4 所有者权益变动表分析 11Vertical Analysis 102.4.1 水平趋势分析 11Analysis of Owner's Equity Sheets . 112.4.2 垂直结构分析 11Horizontal analysis 113 财务指标分析Vertical Analysis 113.1 偿债能力分析 123 Financial Index Analysis3.1.1 短期偿债能力分析 12Analysis of Solvency123.1.2 长期偿债能力分析 12S

5、hort-term Solvency123.2 营运能力分析 13Long-term Solvency 123.2.1 流动资产周转分析 13Analysis of Operating Capability 133.2.2 固定资产周转分析 13Current Assets133.2.3 总资产周转分析 13Fixed Assets 133.3 盈利能力分析13Total Assets133.3.1 资产经营盈利能力分析 13Analysis of Profitability 133.3.2 资本经营盈利能力分析13Profitability of Assets 133.3.3 商品经营盈利能

6、力分析.14Profitability of Capital 133.3.4 盈利质量分析 14Profitability of Goods 143.4 发展能力分析 14Profit Quality 143.4.1 资产资本成长分析 14Analysis of Growth Ability143.4.2 营业收益成长分析 14Capital Asset Growth 143.4.3 每股净资产分析 15Income Growth144 杜邦分析Net Assets per Share 154.1 杜邦分析表154 Du Pont AnalysisDuPont Analysis TableDu

7、Pont Analysis Chart15151财务报表数据1.1 资产负债表表格1 2016-2018 年度 资产负债表Table 1 Balance Sheets for 2016-20182017 年2018 年项目（万元）2016 年货币资金254,031.30269,019.16284,673.53应收票据净额140.00544.051,032.00应收账款净额49,071.8756,843.8623,377.88预付款项净额67,042.0977,621.7445,781.99应收利息净额509.121,165.05-其他应收款净额134,794.4113,255.8411,289

8、.04存货净额1,316,981.001,213,540.631,105,261.00其他流动资产113,239.23136,294.30164,818.13流动资产合计1,935,809.001,768,284.631,636,233.50可供出售金融资产净额11,954.9414,290.542,139.62长期股权投资净额84,080.6387,306.4885,085.18投资性房地产净额33,864.1053,036.5851,338.61固定资产净额14,108.9313,039.6060,299.11在建工程净额277.01358.81339.39无形资产净额2,820.062,

9、329.3828,502.83商誉净额13,227.1912,352.306,914.93长期待摊费用640.32297.501,087.95递延所得税资产22,135.5219,132.7016,819.30非流动资产合计183,477.16202,143.91252,526.92资产总计2,119,286.251,970,428.501,888,760.50短期借款13,616.7257,507.7944,000.00应付票据1,340.72257.46232,719.53应付账款284,023.09310,823.31-预收款项597,099.44430,192.06477,789.06

10、应付职，薪酬44.74222.13311.58应交税费84,361.9177,553.5851,100.08应付利息347.06583.16-应付股利70.9170.91-其他应付款95,545.0117,979.2624,452.04一年内到期的非流动负债57,644.71120,678.9326,269.71流动负债合计1,134,094.381,015,868.63856,642.00长期借款155,530.5845,436.86143,391.14应付债券5,874.483,481.65-长期应付款130.7318.33-长期负债合计161,535.7848,936.84143,391

11、.14非流动负债合计162,035.1348,936.84143,391.14负债合计1,296,129.381,064,805.381,000,033.13实收资本（或股本）303,463.63303,463.63303,463.63资本公积103,756.95103,756.95106,349.40其中：库存股-22,269.74盈余公积21,829.6836,334.8551,159.02未分配利润325,001.78364,580.06421,497.06其他综合收益173.092,146.85224.49归属于母公司所有者权益合计754,225.19810,282.31860,423

12、.88少数股东权益68,931.5995,340.7728,303.42所有者权益合计823,156.75905,623.13888,727.31负债与所有者权益总计2,119,286.251,970,428.501,888,760.501.2 利润表表格2 2016-2018 年度 利润表Table 2 Income Sheets for 2016-2018项目（万元）2016 年2017 年2018 年营业总收入824,652.75576,798.13324,379.44营业收入824,652.75576,798.13324,379.44营业总成本658,533.69424,337.031

13、92,750.61宫业成本542,126.44329,428.22126,669.33营业税金及附加70,004.9836,110.4720,347.70销售费用15,622.3514,367.8911,534.15管理费用20,608.0424,838.0624,041.24财务费用6,242.293,829.765,801.22资产减值损失3,929.6215,762.634,356.98投资收益2,715.141,830.754,373.55其中：对联营和合营企业的投资收益-1,553.99-2,344.15-其他业务利润-42.192.93营业利润168,834.19154,334.0

14、2136,005.30营业外收入1,128.261,900.003,008.07营业外支出16,557.751,892.801,174.09利润总额153,404.69154,341.20137,839.27所得税费用47,320.8647,416.3239,957.84净利润106,083.83106,924.8997,881.44归属于母公司所有者的净利润107,119.48114,776.15102,065.13少数股东损益-1,035.65-7,851.26-4,183.68基本每股收益0.000.000.00稀释每股收益0.000.000.00其他综合收益（损失）1,132.316,

15、295.78-1,922.36综合收益总额107,216.14113,220.6795,959.08归属于母公司所有者的综合收益106,782.13116,749.91100,142.77归属少数股东的综合收益434.01-3,529.24-4,183.681.3 现金流量表表格3 2016-2018 年度现金流量表Table 3 Cash Flow Sheets for 2016-2018项目（万元）2016 年2017 年2018 年销售商品、提供劳务收到的现金746,252.38403,095.97390,417.84收到的税费返还469.392,774.88-收到的其他与经营活动有美的

16、现金6,628.94128,216.7310,250.98购买商品、接受劳务支付的现金244,729.09186,814.48165,955.56支付给职工以及为职工支付的现金14,914.5218,711.0817,235.23支付的各项税费104,502.8591,370.8499,101.90支付其他与经营活动有美的现金32,133.8938,442.2237,928.72经营活动产生的现金流量净额357,070.38198,748.9780,447.40收回投资收到的现金989.911,814.453,206.02取得投资收益收到的现金-4,074.86180.92处置长期资产收回的现

17、金净额243.78526.1319.82处置其他营业单位收到的现金-16,012.04收到的其他与投资活动有美的现金252,748.23458,364.44331,763.25购建长期资产支付的现金2,869.312,041.111,572.15投资支付的现金50,194.1925,567.932,000.00取得其他营业单位支付的现金-5,282.39-支付其他与投资活动有美的现金312,079.00495,415.41323,936.34投资活动产生的现金流量净额-111,160.55-63,526.9423,673.55吸收投资收到的现金21,595.6024,388.48-吸收权益性投

18、资收到的现金21,595.6019,500.00-发行债券收到的现金-4,888.48-取得借款收到的现金33,816.19198,479.17328,970.84收到其他与筹资活动有美的现金24,843.263,971.434,640.70偿还债务支付的现金275,774.75205,002.69335,040.91分配股利.利润或利息支付的现金57,755.5576,728.4543,009.06支付其他与筹资活动有美的现金231,038.1383,353.8426,495.14筹资活动产生的现金流量净额-484,313.38-138,245.91-70,933.55汇率艾动对现金的影响2

19、06.90-175.50272.73现金及现金等价物净增加额-238,196.67-3,199.3933,460.13期初现金及现金等价物余额489,099.84250,903.19247,703.80期末现金及现金等价物余额250,903.19247,703.80281,163.941.4 所有者权益变动表表格4 2016-2018年度所有者权益变动表Table 4 Changes in Owner's Equity Sheets For 2016-2018项目（万元）2016 年2017 年2018 年上期期末余额956,364.81823,156.75905,623.13本期期初

20、余额968,428.94823,156.75905,623.13本期增减文动金额-145,272.2082,466.37-16,895.81综合收益总额107,216.14113,220.6795,959.08所有者投入和减少资本22,819.8329,938.42-85,123.41所有者投入资本22,819.8329,938.42-22,269.74和投资相关的其他项目-62,853.67利润分配-30,346.36-60,692.73-30,323.93对股东的分配-30,346.36-60,692.73-30,323.93其他-244,961.81-2,592.45期末余额823,15

21、6.75905,623.13888,727.312会计报表分析2.1资产负债表分析2.1.1水平趋势分析表格5 2018年度水平分析Table 5 Horizontal Analysis In 2018项目（万元）2017 年2018 年变动额变动比影响总资产货币资金269,019.16284,673.5315,654.385.82%0.79%应收票据净额544.051,032.00487.9589.69%0.02%应收账款净额56,843.8623,377.88-33,465.98-58.87%-1.70%预付款项净额77,621.7445,781.99-31,839.75-41.02%-1

22、.62%应收利息净额1,165.05-1,165.05-100.00%-0.06%其他应收款净额13,255.8411,289.04-1,966.80-14.84%-0.10%存货净额1,213,540.631,105,261.00-108,279.63-8.92%-5.50%其他流动资产136,294.30164,818.1328,523.8320.93%1.45%流动资产合计1,768,284.631,636,233.50-132,051.13-7.47%-6.70%可供出售金融资产净额14,290.542,139.62-12,150.92-85.03%-0.62%长期股权投资净额87,3

23、06.4885,085.18-2,221.30-2.54%-0.11%投资性房地产净额53,036.5851,338.61-1,697.96-3.20%-0.09%固定资产净额13,039.6060,299.1147,259.50362.43%2.40%在建工程净额358.81339.39-19.42-5.41%0.00%无形资产净额2,329.3828,502.8326,173.451123.62%1.33%商誉净额12,352.306,914.93-5,437.37-44.02%-0.28%长期待摊费用297.501,087.95790.45265.70%0.04%递延所得税资产19,13

24、2.7016,819.30-2,313.40-12.09%-0.12%非流动资产合计202,143.91252,526.9250,383.0224.92%2.56%资产总计1,970,428.501,888,760.50-81,668.00-4.14%-4.14%短期借款57,507.7944,000.00-13,507.79-23.49%-0.69%应付票据257.46232,719.53232,462.0890291.06%11.80%应付账款310,823.31-310,823.31-100.00%-15.77%预收款项430,192.06477,789.0647,597.0011.06

25、%2.42%应付职工薪酬222.13311.5889.4440.26%0.00%应交税费77,553.5851,100.08-26,453.50-34.11%-1.34%应付利息583.16-583.16-100.00%-0.03%应付股利70.91-70.91-100.00%0.00%其他应付款17,979.2624,452.046,472.7936.00%0.33%一年内到期的非流动负债120,678.9326,269.71-94,409.22-78.23%-4.79%流动负债合计1,015,868.63856,642.00-159,226.63-15.67%-8.08%长期借款45,43

26、6.86143,391.1497,954.28215.58%4.97%应付债券3,481.65-3,481.65-100.00%-0.18%长期应付款18.33-18.33-100.00%0.00%长期负债合计48,936.84143,391.1494,454.30193.01%4.79%非流动负债合计48,936.84143,391.1494,454.30193.01%4.79%负债合计1,064,805.381,000,033.13-64,772.25-6.08%-3.29%实收资本（或股本）303,463.63303,463.63-0.00%0.00%资本公积103,756.95106,

27、349.402,592.452.50%0.13%其中：库存股-22,269.7422,269.740.00%1.13%盈余公积36,334.8551,159.0214,824.1840.80%0.75%未分配利润364,580.06421,497.0656,917.0015.61%2.89%其他综合收益2,146.85224.49-1,922.36-89.54%-0.10%归属于母公司所有者权益合计810,282.31860,423.8850,141.566.19%2.54%少数股东权益95,340.7728,303.42-67,037.35-70.31%-3.40%所有者权益合计905,62

28、3.13888,727.31-16,895.81-1.87%-0.86%负债与所有者权益总计1,970,428.501,888,760.50-81,668.00-4.14%-4.14%2.1.2 垂直结构分析表格6 2018年度垂直分析Table 6 Vertical Analysis In 2018项目（万元）2017 年2018 年变动额变动比货币资金13.6515.071.4210.39%应收票据净额0.030.050.0397.89%应收账款净额2.881.24-1.65-57.10%预付款项净额3.942.42-1.52-38.47%应收利息净额0.06-0.06-100.00%其他

29、应收款净额0.670.60-0.08-11.15%存货净额61.5958.52-3.07-4.98%其他流动资产6.928.731.8126.16%流动资产合计89.7486.63-3.11-3.47%可供出售金融资产净额0.730.11-0.61-84.38%长期股权投资净额4.434.500.071.67%投资性房地产净额2.692.720.030.98%固定资产净额0.663.192.53382.43%在建工程净额0.020.02-0.00-1.32%无形资产净额0.121.511.391176.53%商誉净额0.630.37-0.26-41.60%长期待摊费用0.020.060.042

30、81.51%递延所得税资产0.970.89-0.08-8.29%非流动资产合计10.2613.373.1130.33%资产总计100.00100.00-0.00%短期借款2.922.33-0.59-20.18%应付票据0.0112.3212.3194199.46%应付账款15.77-15.77-100.00%预收款项21.8325.303.4615.87%应付职，薪酬0.010.020.0146.33%应交税费3.942.71-1.23-31.26%应付利息0.03-0.03-100.00%应付股利0.00-0.00-100.00%其他应付款0.911.290.3841.88%一年内到期的非流

31、动负债6.121.39-4.73-77.29%流动负债合计51.5645.35-6.20-12.03%长期借款2.317.595.29229.23%应付债券0.18-0.18-100.00%长期应付款0.00-0.00-100.00%长期负债合计2.487.595.11205.68%非流动负债合计2.487.595.11205.68%负债合计54.0452.95-1.09-2.02%实收资本（或股本）15.4016.070.674.32%资本公积5.275.630.366.93%其中：库存股-1.181.180.00%盈余公积1.842.710.8646.89%未分配利润18.5022.323

32、.8120.61%其他综合收益0.110.01-0.10-89.09%归属于母公司所有者权益合计41.1245.554.4310.78%少数股东权益4.841.50-3.34-69.03%所有者权益合计45.9647.051.092.38%负债与所有者权益总计100.00100.00-0.00%2.2 利润表分析2.2.1 水平趋势分析表格7 2018年度水平分析Table 7 Horizontal Analysis In 2018项目（万元）2017 年2018 年变动额变动比影响总收入营业总收入576,798.13324,379.44-252,418.69-43.76%-43.76%营业收

33、入576,798.13324,379.44-252,418.69-43.76%-43.76%营业总成本424,337.03192,750.61-231,586.42-54.58%-40.15%营业成本329,428.22126,669.33-202,758.89-61.55%-35.15%营业税金及附加36,110.4720,347.70-15,762.77-43.65%-2.73%销售费用14,367.8911,534.15-2,833.74-19.72%-0.49%管理费用24,838.0624,041.24-796.82-3.21%-0.14%财务费用3,829.765,801.221,

34、971.4651.48%0.34%资产减值损失15,762.634,356.98-11,405.65-72.36%-1.98%投资收益1,830.754,373.552,542.80138.89%0.44%其中：对联营和合营企业的投资收益-2,344.15-2,344.15-100.00%0.41%其他业务利润42.192.93-39.26-93.05%-0.01%营业利润154,334.02136,005.30-18,328.72-11.88%-3.18%营业外收入1,900.003,008.071,108.0758.32%0.19%营业外支出1,892.801,174.09-718.71-

35、37.97%-0.12%利润总额154,341.20137,839.27-16,501.94-10.69%-2.86%所得税费用47,416.3239,957.84-7,458.48-15.73%-1.29%净利润106,924.8997,881.44-9,043.45-8.46%-1.57%归属于母公司所有者的净利润114,776.15102,065.13-12,711.02-11.07%-2.20%少数股东损益-7,851.26-4,183.683,667.58-46.71%0.64%基本每股收益0.000.00-0.00-11.08%0.00%稀释每股收益0.000.00-0.00-11

36、.08%0.00%其他综合收益（损失）6,295.78-1,922.36-8,218.14-130.53%-1.42%综合收益总额113,220.6795,959.08-17,261.59-15.25%-2.99%归属于母公司所有者的综合收益116,749.91100,142.77-16,607.14-14.22%-2.88%归属少数股东的综合收益-3,529.24-4,183.68-654.4518.54%-0.11%2.2.2 垂直结构分析表格8 2018年度垂直分析Table 8 Vertical Analysis In 2018项目（万元）2017 年2018 年变动变动比营业总收入1

37、00.00100.00-0.00%营业收入100.00100.00-0.00%营业总成本73.5759.42-14.15-19.23%宫业成本57.1139.05-18.06-31.63%营业税金及附加6.266.270.010.20%销售费用2.493.561.0642.75%管理费用4.317.413.1172.11%财务费用0.661.791.12169.35%资产减值损失2.731.34-1.39-50.85%投资收益0.321.351.03324.79%其中：对联营和合营企业的投资收益-0.41-0.41-100.00%其他业务利润0.010.00-0.01-87.64%营业利润26

38、.7641.9315.1756.70%营业外收入0.330.930.60181.52%营业外支出0.330.360.0310.30%利润总额26.7642.4915.7358.80%所得税费用8.2212.324.1049.85%净利润18.5430.1711.6462.78%归属于母公司所有者的净利润19.9031.4611.5758.12%少数股东损益-1.36-1.290.07-5.25%基本每股收益0.000.000.0058.12%稀释每股收益0.000.000.0058.12%其他综合收益（损失）1.09-0.59-1.68-154.29%综合收益总额19.6329.589.955

39、0.71%归属于母公司所有者的综合收益20.2430.8710.6352.52%归属少数股东的综合收益-0.61-1.29-0.68110.79%2.3 现金流量表分析2.3.1 水平趋势分析表格9 2018年度水平分析Table 9 Horizontal Analysis In 2018项目（万元）2017 年2018 年变动额变动比影响期末额销售商品、提供劳务收到的现金403,095.97390,417.84-12,678.13-3.15%-5.12%收到的税费返还2,774.88-2,774.88-100.00%-1.12%收到的其他与经营活动有关的现金128,216.7310,250.

40、98-117,965.76-92.00%-47.62%购买商品、接受劳务支付的现金186,814.48165,955.56-20,858.92-11.17%-8.42%支付给职工以及为职工支付的现金18,711.0817,235.23-1,475.85-7.89%-0.60%支付的各项税费91,370.8499,101.907,731.068.46%3.12%支付其他与经营活动有关的现金38,442.2237,928.72-513.50-1.34%-0.21%经营活动产生的现金流量净额198,748.9780,447.40-118,301.57-59.52%-47.76%收回投资收到的现金1,

41、814.453,206.021,391.5776.69%0.56%取得投资收益收到的现金4,074.86180.92-3,893.94-95.56%-1.57%处置长期资产收回的现金净额526.1319.82-506.31-96.23%-0.20%处置其他营业单位收到的现金-16,012.0416,012.040.00%6.46%收到的其他与投资活动有关的现金458,364.44331,763.25-126,601.19-27.62%-51.11%购建长期资产支付的现金2,041.111,572.15-468.97-22.98%-0.19%投资支付的现金25,567.932,000.00-23

42、,567.93-92.18%-9.51%取得其他营业单位支付的现金5,282.39-5,282.39-100.00%-2.13%支付其他与投资活动有关的现金495,415.41323,936.34-171,479.06-34.61%-69.23%投资活动产生的现金流量净额-63,526.9423,673.5587,200.48-137.27%35.20%吸收投资收到的现金24,388.48-24,388.48-100.00%-9.85%吸收权益性投资收到的现金19,500.00-19,500.00-100.00%-7.87%发行债券收到的现金4,888.48-4,888.48-100.00%-

43、1.97%取得借款收到的现金198,479.17328,970.84130,491.6765.75%52.68%收到其他与筹资活动有关的现金3,971.434,640.70669.2716.85%0.27%偿还债务支付的现金205,002.69335,040.91130,038.2263.43%52.50%分配股利.利润或利息支付的现金76,728.4543,009.06-33,719.39-43.95%-13.61%支付其他与筹资活动有关的现金83,353.8426,495.14-56,858.70-68.21%-22.95%筹资活动产生的现金流量净额-138,245.91-70,933.5

44、567,312.36-48.69%27.17%汇率变动对现金的影响-175.50272.73448.23-255.40%0.18%现金及现金等价物净增加额-3,199.3933,460.1336,659.52-1145.83%14.80%期初现金及现金等价物余额250,903.19247,703.80-3,199.39-1.28%-1.29%期末现金及现金等价物余额247,703.80281,163.9433,460.1413.51%13.51%2.3.2 垂直结构分析表格10 2018年度垂直分析Table 10 Vertical Analysis In 2018项目（万元）2016 年20

45、17 年变动变动比销售商品、提供劳务收到的现金162.73138.86-23.88-14.67%收到的税费返还1.12-1.12-100.00%收到的其他与经营活动有美的现金51.763.65-48.12-92.96%购买商品、接受劳务支付的现金75.4259.02-16.39-21.74%支付给职工以及为职工支付的现金7.556.13-1.42-18.85%支付的各项税费36.8935.25-1.64-4.45%支付其他与经营活动有美的现金15.5213.49-2.03-13.08%经营活动产生的现金流量净额80.2428.61-51.62-64.34%收回投资收到的现金0.731.140.

46、4155.67%取得投资收益收到的现金1.650.06-1.58-96.09%处置长期资产收回的现金净额0.210.01-0.21-96.68%处置其他营业单位收到的现金-5.695.690.00%收到的其他与投资活动有美的现金185.05118.00-67.05-36.23%购建长期资产支付的现金0.820.56-0.26-32.14%投资支付的现金10.320.71-9.61-93.11%取得其他营业单位支付的现金2.13-2.13-100.00%支付其他与投资活动有美的现金200.00115.21-84.79-42.39%投资活动产生的现金流量净额-25.658.4234.07-132.

47、83%吸收投资收到的现金9.85-9.85-100.00%吸收权益性投资收到的现金7.87-7.87-100.00%发行债券收到的现金1.97-1.97-100.00%取得借款收到的现金80.13117.0036.8846.02%收到其他与筹资活动有美的现金1.601.650.052.95%偿还债务支付的现金82.76119.1636.4043.98%分配股利.利润或利息支付的现金30.9815.30-15.68-50.62%支付其他与筹资活动有美的现金33.659.42-24.23-72.00%筹资活动产生的现金流量净额-55.81-25.2330.58-54.80%汇率艾动对现金的影响-0.070.100.17-236.91%现金及现金等价物净增加额-1.2911.9013.19-1021.37%期初现金及现金等价物余额101.2988.10-13.19-13.02%期末现金及现金等价物余额100.00100.00-0.00%