中国石油天然气公司财务分析报告

财务分析报告〔自然气股份〕一、公司概况公司名称成立日期公司名称成立日期注册资本〔人民币元〕法人代表证监会行业分类全球行业分类申万行业分类雇员总数(人)注册地址办公地址公司简介主营业务100000000032522183,020,978,176蒋洁敏能源59633816号洲际大厦北京市东城区东直门北大街9号公司是由自然气集团公司依据原国家经济贸易委员会《关于同意设立自然气股份的复函》,资产重组后,由集团作为独家发起人,以发起方式于1999年11月5日注册成立的股份。主要业务:原油及自然气的勘探、开发、生产和销售;原油及石油产品的炼制,根本及衍生化工产品、其他化工及自然气的销售。售;根本石油化工产品、衍生化工产品及其他化工产品的生产和销售;自然气、原油和成品油的输送及自然气的销售。二、公司近三年财务报表〔一〕资产负债表报告期流淌资产2009-12-312008-12-312007-12-31货币资金88,283,996,16045,879,001,08888,589,000,704交易性金融资产------应收票据4,268,000,0004,313,999,8724,735,000,064应收账款28,785,000,44816,755,999,74418,418,999,296预付账款36,401,999,87237,394,001,92020,386,000,896应收股利--60,000,00018,000,000应收利息--21,000,000109,000,000其他应收款4,815,000,0646,076,000,25615,443,999,744存货114,781,003,77690,669,998,08088,466,997,248消耗性生物资产------待摊费用------一年内到期的非流--136,000,00059,000,000动资产其他流淌资产18,378,000,38425,677,000,7042,000,000影响流淌资产其他------科目流淌资产合计295,713,013,760226,983,002,112236,228,001,792非流淌资产可供出售金融资产2,296,000,0001,972,999,9362,529,999,872持有至到期投资------投资性房地产------长期股权投资27,562,000,38428,035,999,74422,685,999,104长期应收款------固定资产331,472,994,304254,996,004,864247,803,002,880工程物资12,168,999,93611,288,999,9366,927,000,064在建工程212,738,998,272160,436,994,048105,633,996,800固定资产清理--293,000,000287,000,000生产性生物资产------油气资产519,459,012,608472,844,992,512326,327,992,320无形资产30,621,999,10423,554,000,89620,021,999,616开发支出------商誉2,817,999,872148,000,000--长期盼摊费用14,951,999,48813,317,999,61612,028,000,256递延所得税资产289,000,000496,000,00012,871,000,064其他非流淌资产影响非流淌资产其他科目650,000,000--533,000,000--748,000,000--非流淌资产合计1,155,029,008,384967,918,026,752757,864,005,632资产总计1,450,741,989,3761,194,900,979,712994,091,991,040流淌负债短期借款74,622,001,15287,216,996,35218,734,000,128交易性金融负债------应付票据2,002,000,000433,000,0001,143,000,064应付账款156,759,998,464118,197,002,240104,460,001,280预收账款21,193,000,96012,967,999,48812,433,000,448应付职工薪酬5,104,999,9366,362,999,80811,585,000,448应交税费34,963,001,34415,185,999,87222,808,000,512应付利息--155,000,000173,000,000应付股利--127,000,00089,000,000其他应付款17,125,000,19217,575,999,48817,848,999,936预提费用------估量负债44,747,001,856568,000,00024,760,999,936递延收益-流淌负债--211,000,00076,000,000一年内到期的非流14,229,000,1925,544,000,00011,651,999,744动负债应付短期债券------其他流淌负债62,554,001,4083,000,00013,000,000影响流淌负债其他----715,000,000科目流淌负债合计388,553,015,296264,336,998,400201,653,993,472非流淌负债长期借款36,506,001,40828,683,999,23235,305,000,960应付债券48,965,001,2164,143,000,0644,383,000,064长期应付款--57,000,00057,000,000专项应付款--768,000,000774,000,000递延所得税负债21,493,000,19212,588,000,25611,882,999,808递延收益-非流淌负------债其他非流淌负债2,367,000,064126,000,000128,000,000影响非流淌负债其--36,261,998,592--他科目非流淌负债合计154,078,003,20082,839,003,13677,367,001,088负债合计542,631,002,112347,176,009,728279,020,994,560全部者权益实收资本〔或股本〕183,020,994,560183,020,994,560183,020,994,560资本公积金116,379,000,832115,314,999,296122,192,003,072盈余公积金125,446,995,968122,215,997,440102,696,001,536未安排利润419,045,998,592373,792,997,376270,543,994,880库存股------外币报表折算差额-4,185,999,872-2,726,000,128-1,086,000,000未确认的投资损失------少数股东权益------归属于母公司股东847,782,019,072791,618,977,792677,366,988,800权益合计影响全部者权益其他科目------全部者权益合计908,110,987,264847,725,002,752715,071,029,248负债及全部者权益1,450,741,989,3761,194,900,979,712994,091,991,040总计〔二〕利润安排表报告期2009-12-312008-12-312007-12-31一、营业总收入1,019,274,985,4721,071,146,008,576835,036,971,008营业收入1,019,274,985,4721,071,146,008,576835,036,971,008二、营业总本钱875,918,983,168926,546,984,960647,380,008,960营业本钱633,099,976,704683,676,991,488487,112,015,872营业税金及附加129,755,996,160116,460,003,32868,678,000,640销售费用48,210,001,92046,188,998,65641,344,999,424治理费用57,213,001,72853,211,000,83249,323,999,232财务费用5,192,000,0002,244,999,9362,868,999,936资产减值损失2,448,000,00024,764,999,680-1,948,000,000三、其他经营收益-3,347,000,064----公允价值变动净收益------投资净收益1,408,999,9364,733,000,1926,301,000,192联营、合营企业投资收益------汇兑净收益------四、营业利润144,764,993,536149,332,000,768193,958,002,688营业外收入3,680,999,93618,066,999,2963,097,999,872营业外支出8,679,000,0646,298,999,8084,231,000,064非流淌资产处置净损失----1,576,000,000五、利润总额139,767,005,184161,100,005,376192,824,999,936所得税33,389,000,70435,154,001,92049,330,999,296未确认的投资损失------六、净利润106,378,002,432125,946,003,456143,494,004,736少数股东损益3,204,999,93612,147,999,7448,920,000,512归属于母公司股东的净103,172,997,120113,797,996,544134,573,998,08011,909,000,19211,909,000,19210,787,999,7447,927,000,0642,208,000,0006,456,999,9363,424,999,9364,079,000,064472,000,0001,014,000,000--535,000,000----0--18,196,000,76818,251,999,23213,907,999,744267,112,005,632224,000,000,000180,691,992,57618,581,999,61610,512,000,00020,262,000,640利润七、每股收益根本每股收益0.560.620.75稀释每股收益0.560.620.75一、经营活动产生的现金一、经营活动产生的现金收到其他与经营活动有关经营活动现金流入小计支付其他与经营活动有关经营活动现金流出小计经营活动产生的现金流量二、投资活动产生的现金收到其他与投资活动有关投资活动现金流入小计金投资支付的现金2009-12-312008-12-312007-12-311,190,291,046,4001,253,493,047,296965,346,000,8962,212,000,00014,264,999,936960,000,0003,375,000,06410,181,000,192697,000,0001,195,877,990,4001,277,939,023,872967,003,013,120603,992,031,232724,666,023,936459,872,010,24067,309,998,08067,285,000,19250,419,998,720191,802,998,784255,670,992,896188,366,995,456961,000,0003,912,000,000470,000,000927,860,981,7601,101,136,003,072756,183,990,272268,016,992,256176,803,004,416210,819,006,464支付其他与投资活动有关投资活动现金流出小计投资活动产生的现金流量三、筹资活动产生的现金子公司吸取少数股东投资收到其他与筹资活动有关发行债券收到的现金筹资活动现金流入小计归还债务支付的现金安排股利、利润或偿付利筹资活动现金流出小计筹资活动产生的现金流量四、现金及现金等价物净增加额------------285,694,001,152234,512,007,168200,954,003,456-267,497,996,288-216,260,001,792-187,046,002,6887,097,999,872--8,768,000,000--1,348,999,936--225,455,996,928157,240,000,51257,492,000,768398,000,000150,000,000427,000,000------232,952,004,608166,157,991,936125,511,000,064121,159,000,06498,036,998,14457,097,998,336------------64,755,998,72053,513,998,33657,524,998,144179,875,004,416162,297,004,032132,389,003,26453,077,000,1923,860,999,936-6,878,000,128汇率变动对现金的影响 179,000,000-112,000,00040,000,000现金及现金等价物净增加53,774,999,552额-35,707,998,20816,935,000,064期初现金及现金等价物余33,149,999,104额68,651,999,23248,559,001,600期末现金及现金等价物余86,925,000,70432,944,001,02465,493,999,616额补充资料：1动的现金流量：净利润106,378,002,432125,946,003,456143,494,004,736加：资产减值预备2,448,000,00024,764,999,680-1,948,000,000固定资产折旧、油气资产------额额折耗、生产性生物资产折旧无形资产摊销1,760,000,0001,443,000,0641,214,000,000长期盼摊费用摊销2,384,999,9362,255,000,0642,115,000,064待摊费用削减------预提费用增加------处置固定资产、无形资产11,763,000,32013,265,999,87210,033,999,872和其他长期资产的损失固定资产报废损失------公允价值变动损失------财务费用3,812,999,936689,000,0001,604,999,936投资损失-1,408,999,936-4,733,000,192-6,301,000,192递延所得税资产削减----1,596,000,000递延所得税负债增加---8,239,000,064-597,000,000存货的削减-20,043,999,232-10,771,000,320-12,042,000,384经营性应收工程的削减16,069,999,616-27,061,999,616-16,254,000,128经营性应付工程的增加50,213,998,592-15,893,000,19217,333,000,192未确认的投资损失------其他8,527,000,064----经营活动产生的现金流量268,016,992,256176,803,004,416210,819,006,464净额2、债务转为资本------3------司债券4、融资租入固定资产------5加状况：现金的期末余额 86,925,000,70432,944,001,02465,493,999,616减：现金的期初余额 33,149,999,10468,651,999,23248,559,001,600现金等价物的期末余额 ------减：现金等价物的期初余--额----现金及现金等价物净增加53,774,999,552-35,707,998,20816,935,000,064三、财务指标分析〔一〕、核心指标分析净资产收益率销售净利率总资产周转率权益乘数2007年0.27 0.170.8401.392008年0.19 0.120.8961.4120092009年0.150.110.7021.591、净资产收益率=利润总额/平均股东权益得多少净收益。该公司的净资产收益率逐年递减，说明企业的盈利力量在减弱。2、销售净利率=净利润/销售收入净额起的。3、总资产周转率=销售收入/资产平均余额该指标反映总资产的营运效率，说明企业全部资产的使用效率。该公司总资产在200820092008年销售收入增长较快引起。4、权益乘数＝1/(1—资产负债率)债程度。该公司的权益乘数大于1，说明全部者权益较有保障，但是由于企业通过举债融资扩张规模，增加了负债，债权人权益有肯定风险。〔二〕偿债力量分析1、短期偿债力量指标短期偿债力量指标短期偿债力量指标2007年2008年2009流淌比率1.170.730.440.860.520.170.760.470.23、流淌比率流淌比率=流淌资产/流淌负债该指标反映企业可用在一年内变现的流淌资产归还到期流淌负债的力量。、速动比率速动比率=〔流淌资产-存货〕/流淌负债该指标反映企业将来的偿债力量。、现金比率现金比率=〔货币资金+短期投资〕/流淌负债该指标是最保守的短期偿债力量指标。2007年流淌比率大于12007年短期偿债力量较好，而在2008年、2007年则逐年下降，并小于1，速动比率与现金比率也是呈现下降的趋势，说明短期偿债力量逐年下降。2、长期偿债力量指标长期偿债力量指标长期偿债力量指标资产负债率0.280.290.37负债权益比率0.390.410.60股东权益比率0.720.710.612007年2007年2008年2009资产负债比率=负债平均总额/资产平均总额、负债权益比率负债权益比率=负债总额/股东权益、股东权益比率股东权益比率=股东权益/总资产低，说明长期偿债力量一般，没有较好利用了财务杠杆，有肯定偿债风险。运营力量指标2007运营力量指标2007年2008年2009应收账款周转率45.3463.9335.41存货周转率5.517.545.52流淌资产周转率3.534.723.45总资产周转率0.840.900.70固定资产周转率3.374.203.071、应收账款周转率应收账款周转率＝主营业务收入净额/应收账款平均余额2、存货周转率存货周转率=主营业务本钱/存货平均余额标。3、流淌资产周转率流淌资产周转率=主营业务收入净额/平均流淌资产6、总资产周转率总资产周转率=主营业务收入净额/平均资产总额7、固定资产周转率固定资产周转率=主营业务收入净额/平均固定资产净值率高，或信用政策紧。盈利力量指标〔四〕、盈利力量分析盈利力量指标200720082009主营业务毛利率0.420.360.39主营业务利润率0.170.120.10本钱费用利润率0.250.160.14净资产收益率0.270.190.15总资产利润率0.190.130.10每股收益0.750.620.561、主营业务毛利率主营业务毛利率=〔主营业务收入净额-主营业务本钱〕/主营业务收入净额该指标反映了主营业务的获利力量。2、主营业务利润率主营业务利润率=净利润/主营业