挖掘美的集团财务报表后的秘密

挖掘美的财务报表后的秘密透过08年的财务报表分析，美的到底做了些什么？组员：邓维陈义国马志勇公布财务报表前后的下跌美的在公布财务报表的前后，经过了一段时间的下跌，证明了市场对美的的悲观看法，其利润没有达到投资者的预期。其利润减少的原因何在？我们将对三个报表进行全面的分析。项目2008年度2007年度增减比例交易性金融资产‐151,463,570.49‐100.00%应收票据2,357,265,015.841,213,490,111.4894.25%可供出售金融资产7,045,326.00‐100.00%长期股权投资246,868,012.6516,077,487.281435.49%在建工程637,570,035.44153,676,120.24314.88%无形资产1,194,751,698.56793,512,554.0850.56%商誉1,473,527,227.3891,041,013.371518.53%递延所得税资产448,529,354.40261,956,147.4371.22%短期借款2,360,335,182.041,171,626,971.90101.46%交易性金融负债22,126,200.00‐100.00%应交税费72,515,469.60‐401,271,673.07118.07%应付股利223,567,263.71585,908.1538057.39%长期借款‐20,000,000.00‐100.00%预计负债18,541,858.03‐100.00%递延所得税负债55,164,571.96‐100.00%其他非流动负债2,010,000.004,656,847.50‐56.84%

资产、负债项目重大变动表单位：（人民币）元

项目2008年度2007年度增减比例交易性金融资产‐151,463,570.49‐100.00%应收票据2,357,265,015.841,213,490,111.4894.25%可供出售金融资产7,045,326.00‐100.00%长期股权投资246,868,012.6516,077,487.281435.49%在建工程637,570,035.44153,676,120.24314.88%无形资产1,194,751,698.56793,512,554.0850.56%商誉1,473,527,227.3891,041,013.371518.53%递延所得税资产448,529,354.40261,956,147.4371.22%短期借款2,360,335,182.041,171,626,971.90101.46%交易性金融负债22,126,200.00‐100.00%应交税费72,515,469.60‐401,271,673.07118.07%应付股利223,567,263.71585,908.1538057.39%长期借款‐20,000,000.00‐100.00%预计负债18,541,858.03‐100.00%递延所得税负债55,164,571.96‐100.00%其他非流动负债2,010,000.004,656,847.50‐56.84%因浑报壶告刻期伯内递公贵司散已衰将等所映持忠有床的命证短券这投遵资轻进受行了永清厘仓拖及杀公附司剩全常资名子薯公绿司雾将研所宗持丙有厌的俘小姑天湿鹅埋B陕股由竖交则易嗽性属金敞融兼资蜻产踢转搞入谅长沈期布股崭权望投原资孟进雹行忙核帅算引，故督报仓告甘期烂末裤公蚁司弯交款易唤性辨金工融呈资那产悔的火余区额技为浩0落；鸦报告拥期角末苦可师供护出逝售旷的畅金委融淹资烂产趟增没长俘1矮0顿0帝%精，范为幕并冤表小掠天热鹅丈所企致亩；资虽产耍、雄负阶债币项课目若重饿大戴变萄动厘表桂单盈位秤：运（事人债民次币牺）傍元项目2008年度2007年度增减比例交易性金融资产‐151,463,570.49‐100.00%应收票据2,357,265,015.841,213,490,111.4894.25%可供出售金融资产7,045,326.00‐100.00%长期股权投资246,868,012.6516,077,487.281435.49%在建工程637,570,035.44153,676,120.24314.88%无形资产1,194,751,698.56793,512,554.0850.56%商誉1,473,527,227.3891,041,013.371518.53%递延所得税资产448,529,354.40261,956,147.4371.22%短期借款2,360,335,182.041,171,626,971.90101.46%交易性金融负债22,126,200.00‐100.00%应交税费72,515,469.60‐401,271,673.07118.07%应付股利223,567,263.71585,908.1538057.39%长期借款‐20,000,000.00‐100.00%预计负债18,541,858.03‐100.00%递延所得税负债55,164,571.96‐100.00%其他非流动负债2,010,000.004,656,847.50‐56.84%主阔要廉受棋公貌司歼销役售哑规桌模战增骨长伤及像并叔表灵小兄天奇鹅影鉴响涌，台报矩告粱期咽末桑应颂收晚票态据暗较转期然初而增替长如了敬9龄4踏.病2鄙5翼%征；资罩产辛、缺负传债运项柜目西重蒜大般变芝动中表窝单潜位党：衡（归人为民读币班）办元项目2008年度2007年度增减比例交易性金融资产‐151,463,570.49‐100.00%应收票据2,357,265,015.841,213,490,111.4894.25%可供出售金融资产7,045,326.00‐100.00%长期股权投资246,868,012.6516,077,487.281435.49%在建工程637,570,035.44153,676,120.24314.88%无形资产1,194,751,698.56793,512,554.0850.56%商誉1,473,527,227.3891,041,013.371518.53%递延所得税资产448,529,354.40261,956,147.4371.22%短期借款2,360,335,182.041,171,626,971.90101.46%交易性金融负债22,126,200.00‐100.00%应交税费72,515,469.60‐401,271,673.07118.07%应付股利223,567,263.71585,908.1538057.39%长期借款‐20,000,000.00‐100.00%预计负债18,541,858.03‐100.00%递延所得税负债55,164,571.96‐100.00%其他非流动负债2,010,000.004,656,847.50‐56.84%资霜产租、索负径债谎项这目捏重兆大职变库动盘表骡单尝位泰：响（袖人胆民缺币爷）丢元主潮要播受扯公马司厉总已部换大筒楼种、喉林况港较工促业学园采及空师调表扩慢能雨投读入吉及若并窃表建小矮天且鹅辞及杨华奔凌急空薪调陷设备暑有梅限逝公就司象等裙三吹家贴公召司炒增秩加骑的服在文建说工唯程政影笨响裤，报俘告补期圆末粱在夸建挽工尖程蜓较川期章初狮增最加晶了含3漫1斯4列.槽8卸8穴%夕；项目2008年度2007年度增减比例交易性金融资产‐151,463,570.49‐100.00%应收票据2,357,265,015.841,213,490,111.4894.25%可供出售金融资产7,045,326.00‐100.00%长期股权投资246,868,012.6516,077,487.281435.49%在建工程637,570,035.44153,676,120.24314.88%无形资产1,194,751,698.56793,512,554.0850.56%商誉1,473,527,227.3891,041,013.371518.53%递延所得税资产448,529,354.40261,956,147.4371.22%短期借款2,360,335,182.041,171,626,971.90101.46%交易性金融负债22,126,200.00‐100.00%应交税费72,515,469.60‐401,271,673.07118.07%应付股利223,567,263.71585,908.1538057.39%长期借款‐20,000,000.00‐100.00%预计负债18,541,858.03‐100.00%递延所得税负债55,164,571.96‐100.00%其他非流动负债2,010,000.004,656,847.50‐56.84%资忌产戏、跃负嚷债舅项石目唉重横大粉变价动跃表杨单自位吃：赏（盯人销民或币紧）取元主趋要宋受司并塑表裤小沉天巴鹅待增搏加效的锹无铃形秩资绩产斗影摇响应，报睁告戴期搭末糟无饥形宇资视产歌较驱期蚕初涝增产加乞了吊5苏0性.灿5档6车%俯；项目2008年度2007年度增减比例交易性金融资产‐151,463,570.49‐100.00%应收票据2,357,265,015.841,213,490,111.4894.25%可供出售金融资产7,045,326.00‐100.00%长期股权投资246,868,012.6516,077,487.281435.49%在建工程637,570,035.44153,676,120.24314.88%无形资产1,194,751,698.56793,512,554.0850.56%商誉1,473,527,227.3891,041,013.371518.53%递延所得税资产448,529,354.40261,956,147.4371.22%短期借款2,360,335,182.041,171,626,971.90101.46%交易性金融负债22,126,200.00‐100.00%应交税费72,515,469.60‐401,271,673.07118.07%应付股利223,567,263.71585,908.1538057.39%长期借款‐20,000,000.00‐100.00%预计负债18,541,858.03‐100.00%递延所得税负债55,164,571.96‐100.00%其他非流动负债2,010,000.004,656,847.50‐56.84%资察产肃、还负朱债嚷项秋目允重划大拉变驾动例表元单渴位宽：吧（茅人默民疫币倾）见元主莲要错因他小狸天伴鹅卫股还权废收悼购旗价宏格磨与退被盼收勾购奇公可口辨痕认脉净限资信产改公来允趟价仗值掘之闸间餐的治差哑额镜导澡致族报告掀期律末袍商饿誉勾较碍期续初膜增悼长誓了倘1幼,薯5征1绸8渗.册5拒3蛋%蜡；项目2008年度2007年度增减比例交易性金融资产‐151,463,570.49‐100.00%应收票据2,357,265,015.841,213,490,111.4894.25%可供出售金融资产7,045,326.00‐100.00%长期股权投资246,868,012.6516,077,487.281435.49%在建工程637,570,035.44153,676,120.24314.88%无形资产1,194,751,698.56793,512,554.0850.56%商誉1,473,527,227.3891,041,013.371518.53%递延所得税资产448,529,354.40261,956,147.4371.22%短期借款2,360,335,182.041,171,626,971.90101.46%交易性金融负债22,126,200.00‐100.00%应交税费72,515,469.60‐401,271,673.07118.07%应付股利223,567,263.71585,908.1538057.39%长期借款‐20,000,000.00‐100.00%预计负债18,541,858.03‐100.00%递延所得税负债55,164,571.96‐100.00%其他非流动负债2,010,000.004,656,847.50‐56.84%资委产贸、备负江债胆项惹目墙重武大泳变谈动货表颜单竭位准：辞（恨人晋民短币颂）皆元主浪要兵受终销萄售浩规纹模抱增树长聚导估致声的甜预着提许运复输崇费洒、勇安装议维叨修扔费衣、触销咐售领返纸利惹等罗预什提绳费军用贤增字加荡影廉响骂，义报告剪期届末膏递捞延雹所裹得麻税紧资闯产拣较许期洽初蚁增饭加狂了酒7旗1富.烫2才2绒%秋；项目2008年度2007年度增减比例交易性金融资产‐151,463,570.49‐100.00%应收票据2,357,265,015.841,213,490,111.4894.25%可供出售金融资产7,045,326.00‐100.00%长期股权投资246,868,012.6516,077,487.281435.49%在建工程637,570,035.44153,676,120.24314.88%无形资产1,194,751,698.56793,512,554.0850.56%商誉1,473,527,227.3891,041,013.371518.53%递延所得税资产448,529,354.40261,956,147.4371.22%短期借款2,360,335,182.041,171,626,971.90101.46%交易性金融负债22,126,200.00‐100.00%应交税费72,515,469.60‐401,271,673.07118.07%应付股利223,567,263.71585,908.1538057.39%长期借款‐20,000,000.00‐100.00%预计负债18,541,858.03‐100.00%递延所得税负债55,164,571.96‐100.00%其他非流动负债2,010,000.004,656,847.50‐56.84%资世产科、呜负特债易项缠目显重朽大开变双动夫表核单丙位宽：漠（弄人粮民办币诵）尽元主困要订受资公盈司垫规距模揉扩吩大除，线流搅动杠资呆金识需叛求填增筒加影引响砖，材报躬告恶期落末英短孟期巨借卷款炭较续期庭初挎增猾长塔了严1语0超1充.忍4压6扣%赚；项目2008年度2007年度增减比例交易性金融资产‐151,463,570.49‐100.00%应收票据2,357,265,015.841,213,490,111.4894.25%可供出售金融资产7,045,326.00‐100.00%长期股权投资246,868,012.6516,077,487.281435.49%在建工程637,570,035.44153,676,120.24314.88%无形资产1,194,751,698.56793,512,554.0850.56%商誉1,473,527,227.3891,041,013.371518.53%递延所得税资产448,529,354.40261,956,147.4371.22%短期借款2,360,335,182.041,171,626,971.90101.46%交易性金融负债22,126,200.00‐100.00%应交税费72,515,469.60‐401,271,673.07118.07%应付股利223,567,263.71585,908.1538057.39%长期借款‐20,000,000.00‐100.00%预计负债18,541,858.03‐100.00%递延所得税负债55,164,571.96‐100.00%其他非流动负债2,010,000.004,656,847.50‐56.84%资努产定、缩慧负堵债灿项场目葬重刮大最变昨动胆表凯单殃位貌：粪（透人预民夺币原）框元报垄告蚁期抖末裂，校公筝司轿交露易奇性闲金须融浑负泰债坝较某期净初缎增长顿1众0夏0姐%贼的宣主埋要驰是悦因垫报嫂告死期辆末枯公窗司贵持活有皇的妄远卵期结武汇方合母同错确辫认犹了仆公有允榨价浅值揭变版动览损洞失且。项目2008年度2007年度增减比例交易性金融资产‐151,463,570.49‐100.00%应收票据2,357,265,015.841,213,490,111.4894.25%可供出售金融资产7,045,326.00‐100.00%长期股权投资246,868,012.6516,077,487.281435.49%在建工程637,570,035.44153,676,120.24314.88%无形资产1,194,751,698.56793,512,554.0850.56%商誉1,473,527,227.3891,041,013.371518.53%递延所得税资产448,529,354.40261,956,147.4371.22%短期借款2,360,335,182.041,171,626,971.90101.46%交易性金融负债22,126,200.00‐100.00%应交税费72,515,469.60‐401,271,673.07118.07%应付股利223,567,263.71585,908.1538057.39%长期借款‐20,000,000.00‐100.00%预计负债18,541,858.03‐100.00%递延所得税负债55,164,571.96‐100.00%其他非流动负债2,010,000.004,656,847.50‐56.84%资划产碑、霉负粘债蛮项滤目道重察大摄变初动触表忙单闲位只：傅（余人湾民桂币茄）呆元报掘告守期已内暴，很公岂司瓦归息还溪了盏所溜借萍的宁长忠期沈借慰款吗，报哥告特期你末塞，勇长京期尖借掀款棋的什余挠额虾为例0拳；项目2008年度2007年度增减比例交易性金融资产‐151,463,570.49‐100.00%应收票据2,357,265,015.841,213,490,111.4894.25%可供出售金融资产7,045,326.00‐100.00%长期股权投资246,868,012.6516,077,487.281435.49%在建工程637,570,035.44153,676,120.24314.88%无形资产1,194,751,698.56793,512,554.0850.56%商誉1,473,527,227.3891,041,013.371518.53%递延所得税资产448,529,354.40261,956,147.4371.22%短期借款2,360,335,182.041,171,626,971.90101.46%交易性金融负债22,126,200.00‐100.00%应交税费72,515,469.60‐401,271,673.07118.07%应付股利223,567,263.71585,908.1538057.39%长期借款‐20,000,000.00‐100.00%预计负债18,541,858.03‐100.00%递延所得税负债55,164,571.96‐100.00%其他非流动负债2,010,000.004,656,847.50‐56.84%资浇产旷、春负旗债辨项谁目细重始大就变庄动绕表谋单含位傻：询（缠人滑民牵币傻）氏元报灶告掉期块末晚较旋报朝告句期汉初睡新蒙增棵的暴预姑计而负诞债及合递侮延挂所己得仰税款负箩债伯均皆为避并催表崭小务天圣鹅份所厨致锅；常慌见鲜指烫标2掌0兽0茶8渠年薯2宵0傅0屈7温年资围产湿负唯债最率扬（坏%茎）巨6很8雁.谈8残1致6薪7负.番3夏5股扯东俊权冻益姿比角率批（剪%丹）复2射0响.卵3脊4染2咐5客.线8僻6流楚动裙比细率仍（汉%聪）声0喜.劳8惹6撕1坡.捆0咬7速洞动非比尤率嫂（残%支）我0勒.蚕5桌4穗0拔.励4舌8报霉告化期夸内武现侧金妙流乖量筛分特析愉单翁位粗：介（堆人夜民蛙币竖）慰元项目名称报告期上年同期增减额增减比例(%)经营活动产生的现金流量净额3,752,847,690.001,748,345,581.072,004,502,108.93114.65%投资活动产生的现金流量净额‐3,851,929,033.121,181,727,561.82‐2,670,201,471.30225.96%筹资活动产生的现金流量净额263,556,788.08204,669,907.71468,226,695.79228.77%主佩要区因城规仿模恳扩届大吵及痛并怜表淹小粥天楚鹅承影卷响较，黎年煌初日至剩报适告碰期郊末公动司症经排营裕活木动当产膨生偶的长现嗓金怪流追量骨净满额悠较徒上庙年观增盘长槐1窗1巴4原.需6春5兔%精；报浆告弄期饶内浅现石金疏流况量猪分画析仗单宾位江：棉（耕人全民妙币智）设元项目名称报告期上年同期增减额增减比例(%)经营活动产生的现金流量净额3,752,847,690.001,748,345,581.072,004,502,108.93114.65%投资活动产生的现金流量净额‐3,851,929,033.121,181,727,561.82‐2,670,201,471.30225.96%筹资活动产生的现金流量净额263,556,788.08204,669,907.71468,226,695.79228.77%主同要床受嫩收孩购米小秃天骨鹅村股辩权箭及碌固错定津资登产蒸构局建佣投柳入吊增槐加浑影里响德，年危初烘至笛报矮告滨期玩末钱，滥公通司谅投锹资话活衔动辜产是生君的麻现玻金知流或流绒出械较星上制年增甜加劳了虹2争2虏5塘.兆9婚6先%爸；报紫告辣期横内颗现反金控流靠量拍分旁析氏单里位活：挽（亮人刊民奋币孟）级元项目名称报告期上年同期增减额增减比例(%)经营活动产生的现金流量净额3,752,847,690.001,748,345,581.072,004,502,108.93114.65%投资活动产生的现金流量净额‐3,851,929,033.121,181,727,561.82‐2,670,201,471.30225.96%筹资活动产生的现金流量净额263,556,788.08204,669,907.71468,226,695.79228.77%主矛要想受铅公凡司来借同款誓大寇幅晋增隆加落影画响馋，塞年彩初信至详报末告尚期弟末物，公晶司曾筹屈资晶活搅动敢产沸生燃的惠现税金究流还量换净角额瞒较秧上胡年旨增接加秩了底2南2差8弱.数7挡7锁%掌。产品/业务本年发生额上年年发生额主营业务营业收入营业成本营业收入营业成本空调30,751,356,969.1624,803,159,221.7225,077,831,302.9120,316,992,334.61冰箱5,014,151,754.273,952,614,125.853,680,085,593.302,943,202,104.12洗衣机4,217,036,444.293,319,149,137.841,780,909,207.491,426,947,224.95压缩机2,349,041,918.801,761,169,343.592,699,508,699.092,162,814,022.42小计42,331,587,086.5233,836,091,829.0033,238,334,802.7926,849,955,686.10其他业务材料销售2,852,936,401.922,749,183,700.171,882,844,095.431,852,368,819.08商标使用费31,980,430.77-22,028,936.83租金及其他96,958,004.0946,264,075.5445,131,543.7622,380,709.10小计2,981,874,836.782,795,447,775.711,950,004,576.021,874,749,528.18合计45,313,461,923.3036,631,539,604.7135,188,339,378.8128,724,705,214.28经笋营枯活碑动柴现蜡金致流踢分导析痛：意品圾牌鸣多肯样层化缩慧，硬追存求范勒围们经申济啦，茄规湿模陈经摘济，哑增霜加歪自广己鼻的市胡场娃份颜额。*酱1寄、辈2抢0汉0俱8梦年炎4吓月弦,槽本候公惯司收蹦购估了奶无犯锡格小毫天眯鹅纤股渣份蒜有艳限擦公痛司来2灿4亭.透0蛙1谷%搅的碧股巾权，买并被通捎过纳子握公姓司瞧T做i研t膨o健n捏iI厅n择v寸e博s岭t米m恳e惨n音t傍s悔D颠e拳v妄e怎l皱o森p贿m秤e饿n波t微L郑t投d发.图间择接亲持厅有剂其案4撕.辽9耳3毒%浙的倡股喝权械；桨2鲁0森0攻8埋年另5劲-言7梦月浸，截T臣i食t零o呆n米i达I算n椒v涨e嚷s搬t肉m脚e耳n乓t铜sD月e走v老e耕l汗o经p肿m富e航n江t诉L厦t姻d胁.挡通更过衫二康级带市争场胞增虚持售无纸锡所小萄天张鹅鞠股盟份掏有鼠限钟公捆司突股旱票炒，盗增玻加茫0骆.异7哨1看%镰股宪权姓。拳至渔此协,肾T壤i历t境o伙n色iI恐n语v拾e财s挂t励m铸e阅n利t压s捎D猪e拦v柿e污l免o朗p日m手e粗n怕t蝴L塔t冤d陷.丝式持诱有劳无饥锡续小吊天矮鹅井股饶份摸有岗限寻公译司作5贷.沾6赢4厕%墨的灿股汽权详。*虑2换、铃2箭0打0需8汁年踢3耍月休,特本寸公懂司投辩资堪设焰立厦安筐徽仪美飞芝会制衣冷农设柳备定有侄限雹公求司，辰该夹公晃司欣注洞册菠资闭本谷为凡人皮民饱币3绞2暮5商,松0教0得0时,嚼0乖0组0朱.棍0炎0张元馆。效本良公盲司核持筒有柄其烘9浆5林%唉的丛股航权益，寺日略本哨东踪蝶芝偿开肚利倒株些式删会联社晚持失有抖其贞5栗%如的遵股毫权两。*握3祥、闪2仍0碌0民8俯年静5柜月炉，浴本鼓公谣司投忆资厌设扒立唇合约肥屠美幕的炼洗浇衣橡设斥备裂制押造拳有登限却公馋司，膨该板公谅司野注夸册康资冷本犬为安人再民仗币2熟0锤,凶0共0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