财务分析☆ ◇600938 中国海油 更新日期：2026-09-19◇ 通达信沪深京F10
★本栏包括【1.主要财务指标】【2.偿债能力指标】【3.营运能力指标】【4.盈利能力指标】
【5.成长能力指标】【6.指标变动说明】【7.资产负债表摘要】【8.利润表摘要】
【9.现金流量表摘要】【10.环比分析】
【1.主要财务指标】
┌──────────┬──────┬──────┬──────┬──────┬──────┬──────┐
│财务指标 │ 2026-06-30│ 2025-12-31│ 2024-12-31│ 2023-12-31│ 2022-12-31│ 2021-12-31│
├──────────┼──────┼──────┼──────┼──────┼──────┼──────┤
│审计意见 │ 未经审计│ 无保留意见│ 无保留意见│ 无保留意见│ 无保留意见│ ---│
│归母净利(未调整:万) │ 8581800.00│ 12208200.00│ 13793600.00│ 12384300.00│ 14170000.00│ 7032000.00│
│归母净利(调整后:万) │ ---│ ---│ 13793600.00│ 12384300.00│ 14170000.00│ 7032000.00│
│净利润增长率(%) │ 23.42│ -11.49│ 11.38│ -12.60│ 101.51│ 181.77│
│扣非净利润(万) │ 8573300.00│ 12037900.00│ 13339700.00│ 12518800.00│ 14025000.00│ 6817100.00│
│营业总收(未调整:万) │ 24266000.00│ 39822000.00│ 42050600.00│ 41660900.00│ 42223000.00│ 24611100.00│
│营业总收(调整后:万) │ ---│ ---│ 42050600.00│ 41660900.00│ 42223000.00│ 24611100.00│
│总营收同比增长率(%) │ 16.88│ -5.30│ 0.94│ -1.33│ 71.56│ 58.40│
│加权净资产收益率(%) │ 10.21│ 15.64│ 19.36│ 19.55│ 26.00│ 15.36│
│资产负债比率(%) │ 28.60│ 26.71│ 29.05│ 33.58│ 35.59│ 38.72│
│净利润现金含量(%) │ 165.04│ 171.23│ 160.14│ 169.36│ 145.08│ 210.31│
│基本每股收益(元) │ 1.8100│ 2.5700│ 2.9000│ 2.6000│ 3.0300│ 1.5700│
│每股收益-扣除(元) │ 1.8000│ 2.5300│ 2.8100│ 2.6300│ 3.0000│ 1.5300│
│每股收益-摊薄(元) │ 1.8056│ 2.5685│ 2.9021│ 2.6036│ 2.9790│ ---│
│每股资本公积金(元) │ 0.0601│ 0.0600│ 0.0600│ 0.0601│ 0.0600│ ---│
│每股未分配利润(元) │ 15.0424│ 13.7149│ 12.4148│ 10.8341│ 9.4390│ ---│
│每股净资产(元) │ 18.0108│ 16.8893│ 15.7279│ 14.0137│ 12.5546│ 10.7700│
│每股经营现金流量(元)│ 2.9798│ 4.3981│ 4.6474│ 4.4094│ 4.3218│ 3.3100│
└──────────┴──────┴──────┴──────┴──────┴──────┴──────┘
┌──────────┬──────┬──────┬──────┬──────┬──────┬──────┐
│财务指标 │ 2026-06-30│ 2026-03-31│ 2025-12-31│ 2025-09-30│ 2025-06-30│ 2025-03-31│
├──────────┼──────┼──────┼──────┼──────┼──────┼──────┤
│审计意见 │ 未经审计│ 未经审计│ 无保留意见│ 未经审计│ 未经审计│ 未经审计│
│归母净利(未调整:万) │ 8581800.00│ 3914400.00│ 12208200.00│ 10197100.00│ 6953300.00│ 3656300.00│
│归母净利(调整后:万) │ ---│ ---│ ---│ ---│ 6953300.00│ 3656300.00│
│净利润增长率(%) │ 23.42│ 7.06│ -11.49│ -12.59│ -12.79│ -7.95│
│扣非净利润(万) │ 8573300.00│ 3903800.00│ 12037900.00│ 10091500.00│ 6935300.00│ 3702700.00│
│营业总收(未调整:万) │ 24266000.00│ 11607900.00│ 39822000.00│ 31250300.00│ 20760800.00│ 10685400.00│
│营业总收(调整后:万) │ ---│ ---│ ---│ ---│ 20760800.00│ 10685400.00│
│总营收同比增长率(%) │ 16.88│ 8.63│ -5.30│ -4.15│ -8.45│ -4.14│
│加权净资产收益率(%) │ 10.21│ 4.77│ 15.64│ 13.01│ 8.90│ 4.78│
│资产负债比率(%) │ 28.60│ 27.09│ 26.71│ 30.09│ 29.54│ 28.74│
│净利润现金含量(%) │ 165.04│ 140.88│ 171.23│ 168.43│ 157.02│ 156.64│
│基本每股收益(元) │ 1.8100│ 0.8200│ 2.5700│ 2.1400│ 1.4600│ 0.7700│
│每股收益-扣除(元) │ 1.8000│ 0.8213│ 2.5300│ 2.1232│ 1.4600│ 0.7790│
│每股收益-摊薄(元) │ 1.8056│ 0.8236│ 2.5685│ 2.1454│ 1.4629│ 0.7693│
│每股资本公积金(元) │ 0.0601│ 0.0601│ 0.0600│ 0.0601│ 0.0600│ 0.0600│
│每股未分配利润(元) │ 15.0424│ 14.5385│ 13.7149│ 13.2918│ 13.2745│ 13.1841│
│每股净资产(元) │ 18.0108│ 17.6121│ 16.8893│ 16.5277│ 16.5468│ 16.4912│
│每股经营现金流量(元)│ 2.9798│ 1.1603│ 4.3981│ 3.6135│ 2.2971│ 1.2050│
└──────────┴──────┴──────┴──────┴──────┴──────┴──────┘
【2.偿债能力指标】
┌───────────┬─────┬──────┬──────┬──────┬──────┬──────┐
│偿债能力指标 │2026-06-30│ 2025-12-31│ 2024-12-31│ 2023-12-31│ 2022-12-31│ 2021-12-31│
├───────────┼─────┼──────┼──────┼──────┼──────┼──────┤
│流动比率 │ 2.80│ 3.24│ 2.23│ 2.02│ 2.33│ 2.21│
│速动比率 │ 2.75│ 3.17│ 2.18│ 1.97│ 2.28│ 2.15│
│资产负债比率(%) │ 28.60│ 26.71│ 29.05│ 33.58│ 35.59│ 38.72│
│产权比率 │ 0.40│ 0.37│ 0.41│ 0.51│ 0.55│ 0.63│
│现金流比率(短期债务)% │ 1.01│ 2.29│ 1.86│ 1.69│ 1.81│ 1.57│
└───────────┴─────┴──────┴──────┴──────┴──────┴──────┘
┌───────────┬─────┬──────┬──────┬──────┬──────┬──────┐
│偿债能力指标 │2026-06-30│ 2026-03-31│ 2025-12-31│ 2025-09-30│ 2025-06-30│ 2025-03-31│
├───────────┼─────┼──────┼──────┼──────┼──────┼──────┤
│流动比率 │ 2.80│ 3.17│ 3.24│ 2.32│ 2.36│ 2.39│
│速动比率 │ 2.75│ 3.12│ 3.17│ 2.27│ 2.32│ 2.35│
│资产负债比率(%) │ 28.60│ 27.09│ 26.71│ 30.09│ 29.54│ 28.74│
│产权比率 │ 0.40│ 0.37│ 0.37│ 0.43│ 0.42│ 0.40│
│现金流比率(短期债务)% │ 1.01│ 0.51│ 2.29│ 1.20│ 0.80│ 0.46│
└───────────┴─────┴──────┴──────┴──────┴──────┴──────┘
【3.营运能力指标】
┌──────────┬──────┬──────┬──────┬──────┬──────┬──────┐
│营运能力指标 │ 2026-06-30│ 2025-12-31│ 2024-12-31│ 2023-12-31│ 2022-12-31│ 2021-12-31│
├──────────┼──────┼──────┼──────┼──────┼──────┼──────┤
│应收账款周转率 │ 6.41│ 12.19│ 12.15│ 11.44│ 13.41│ 10.98│
│存货周转率 │ 17.62│ 32.70│ 32.01│ 32.91│ 33.20│ 21.43│
│流动资产周转率 │ 0.70│ 1.42│ 1.63│ 1.62│ 1.79│ 1.33│
│固定资产周转率 │ 37.55│ 59.92│ 61.17│ 60.99│ 72.25│ 65.76│
│总资产周转率 │ 0.21│ 0.37│ 0.41│ 0.43│ 0.49│ 0.33│
└──────────┴──────┴──────┴──────┴──────┴──────┴──────┘
┌──────────┬──────┬──────┬──────┬──────┬──────┬──────┐
│营运能力指标 │ 2026-06-30│ 2026-03-31│ 2025-12-31│ 2025-09-30│ 2025-06-30│ 2025-03-31│
├──────────┼──────┼──────┼──────┼──────┼──────┼──────┤
│应收账款周转率 │ 6.41│ 2.65│ 12.19│ 8.68│ 5.37│ 2.57│
│存货周转率 │ 17.62│ 9.74│ 32.70│ 25.00│ 16.14│ 8.40│
│流动资产周转率 │ 0.70│ 0.36│ 1.42│ 1.05│ 0.71│ 0.38│
│固定资产周转率 │ 37.55│ 17.91│ 59.92│ 46.89│ 30.94│ 15.99│
│总资产周转率 │ 0.21│ 0.10│ 0.37│ 0.29│ 0.19│ 0.10│
└──────────┴──────┴──────┴──────┴──────┴──────┴──────┘
【4.盈利能力指标】
┌──────────┬──────┬──────┬──────┬──────┬──────┬──────┐
│盈利能力指标(%) │ 2026-06-30│ 2025-12-31│ 2024-12-31│ 2023-12-31│ 2022-12-31│ 2021-12-31│
├──────────┼──────┼──────┼──────┼──────┼──────┼──────┤
│净资产收益率 │ 10.02│ 15.21│ 18.45│ 18.58│ 23.73│ 14.62│
│销售毛利率 │ 53.46│ 51.47│ 53.63│ 49.88│ 53.05│ 50.60│
│营业利润率 │ 46.83│ 42.47│ 45.18│ 41.50│ 46.17│ 38.93│
│销售净利率 │ 35.39│ 30.67│ 32.81│ 29.79│ 33.55│ 28.57│
│总资产净利率 │ 7.46│ 11.34│ 13.38│ 12.83│ 16.52│ 9.33│
└──────────┴──────┴──────┴──────┴──────┴──────┴──────┘
┌──────────┬──────┬──────┬──────┬──────┬──────┬──────┐
│盈利能力指标(%) │ 2026-06-30│ 2026-03-31│ 2025-12-31│ 2025-09-30│ 2025-06-30│ 2025-03-31│
├──────────┼──────┼──────┼──────┼──────┼──────┼──────┤
│净资产收益率 │ 10.02│ 4.68│ 15.21│ 12.98│ 8.84│ 4.66│
│销售毛利率 │ 53.46│ 51.17│ 51.47│ 52.24│ 53.47│ 54.65│
│营业利润率 │ 46.83│ 45.10│ 42.47│ 44.61│ 45.67│ 46.72│
│销售净利率 │ 35.39│ 33.76│ 30.67│ 32.66│ 33.52│ 34.25│
│总资产净利率 │ 7.46│ 3.48│ 11.34│ 9.35│ 6.40│ 3.39│
└──────────┴──────┴──────┴──────┴──────┴──────┴──────┘
【5.成长能力指标】
┌──────────┬──────┬──────┬──────┬──────┬──────┬──────┐
│成长能力指标(%) │ 2026-06-30│ 2025-12-31│ 2024-12-31│ 2023-12-31│ 2022-12-31│ 2021-12-31│
├──────────┼──────┼──────┼──────┼──────┼──────┼──────┤
│营业收入增长率 │ 16.88│ -5.30│ 0.94│ -1.33│ 71.56│ 58.40│
│营业利润增长率 │ 19.85│ -10.98│ 9.88│ -11.30│ 103.46│ 175.57│
│净利润增长率 │ 23.42│ -11.49│ 11.38│ -12.60│ 101.51│ 181.77│
│净资产增长率 │ 6.64│ 7.38│ 12.15│ 11.62│ 24.18│ 10.88│
│总资产增长率 │ 9.46│ 4.00│ 5.04│ 8.24│ 18.11│ 9.05│
└──────────┴──────┴──────┴──────┴──────┴──────┴──────┘
┌──────────┬──────┬──────┬──────┬──────┬──────┬──────┐
│成长能力指标(%) │ 2026-06-30│ 2026-03-31│ 2025-12-31│ 2025-09-30│ 2025-06-30│ 2025-03-31│
├──────────┼──────┼──────┼──────┼──────┼──────┼──────┤
│营业收入增长率 │ 16.88│ 8.63│ -5.30│ -4.15│ -8.45│ -4.14│
│营业利润增长率 │ 19.85│ 4.85│ -10.98│ -9.70│ -10.41│ -5.08│
│净利润增长率 │ 23.42│ 7.06│ -11.49│ -12.59│ -12.79│ -7.95│
│净资产增长率 │ 6.64│ 4.28│ 7.38│ 5.09│ 5.21│ 4.85│
│总资产增长率 │ 9.46│ 4.82│ 4.00│ 6.65│ 5.93│ 4.40│
└──────────┴──────┴──────┴──────┴──────┴──────┴──────┘
【6.指标变动说明】
截止日期:2026-06-30
┌──────┬────────┬──────┬────────┬──────┐
│变动科目 │变动原因 │本期数值(万)│ 上期/期初数(万)│ 变动幅度(%)│
├──────┼────────┼──────┼────────┼──────┤
│流动资产 │货币资金增加 │ 39380900.00│ 29538300.00│ 33.32│
│非流动资产 │--- │ 80869400.00│ 80317600.00│ 0.69│
│资产总额 │--- │120250300.00│ 109855900.00│ 9.46│
│流动负债 │应付股利增加 │ 14066800.00│ 9125300.00│ 54.15│
│非流动负债 │--- │ 20327600.00│ 20212200.00│ 0.57│
│负债总额 │--- │ 34394400.00│ 29337500.00│ 17.24│
│归属母公司股│--- │ 85605400.00│ 80275000.00│ 6.64│
│东权益 │ │ │ │ │
│少数股东权益│--- │ 250500.00│ 243400.00│ 2.92│
│总权益 │--- │ 85855900.00│ 80518400.00│ 6.63│
│经营活动产生│油气销量及国际油│ 14163100.00│ 10918200.00│ 29.72│
│的现金流量净│价同步上涨带来的│ │ │ │
│额 │销售现金流入增加│ │ │ │
│投资活动产生│投资定期存款的净│ -5473300.00│ -7378300.00│ 25.82│
│的现金流量净│流出减少 │ │ │ │
│额 │ │ │ │ │
│融资活动产生│本期偿还债务支付│ -334200.00│ -2245100.00│ 85.11│
│的现金流量净│的现金同比减少 │ │ │ │
│额 │ │ │ │ │
│营业收入 │油气销量上涨和国│ 24266000.00│ 20760800.00│ 16.88│
│ │际油价上涨 │ │ │ │
│所得税费用 │公司利润总额上涨│ 2764400.00│ 2506600.00│ 10.28│
│归母净利润 │公司坚持增储上产│ 8581800.00│ 6953300.00│ 23.42│
│ │，推进提质降本增│ │ │ │
│ │效，以及国际油价│ │ │ │
│ │上涨 │ │ │ │
│作业费用 │产量上升 │ 1957200.00│ 1827700.00│ 7.09│
│勘探费用 │公司在坚持价值勘│ 785500.00│ 523300.00│ 50.11│
│ │探的基础上，适度│ │ │ │
│ │加大风险勘探力度│ │ │ │
│折旧、折耗和│油气销量上升 │ 4238500.00│ 3931800.00│ 7.80│
│摊销 │ │ │ │ │
│销售、管理及│油气销量上升 │ 545900.00│ 532900.00│ 2.44│
│运输费用 │ │ │ │ │
│汇兑收益净额│美元对港币汇率波│ 61300.00│ 120400.00│ -49.09│
│ │动收窄 │ │ │ │
└──────┴────────┴──────┴────────┴──────┘
截止日期:2025-12-31
┌──────┬────────┬──────┬────────┬──────┐
│变动科目 │变动原因 │本期数值(万)│ 上期/期初数(万)│ 变动幅度(%)│
├──────┼────────┼──────┼────────┼──────┤
│归母净利润 │公司持续增储上产│ 12208200.00│ 13793600.00│ -11.49│
│ │、提质增效，部分│ │ │ │
│ │抵消了油价下降的│ │ │ │
│ │不利影响 │ │ │ │
│营业收入 │油气销量上升、国│ 39822000.00│ 42050600.00│ -5.30│
│ │际市场油价下降的│ │ │ │
│ │综合影响 │ │ │ │
│资产减值及跌│海外资产计提减值│ 380900.00│ 804700.00│ -52.67│
│价准备 │准备的影响 │ │ │ │
│利息收入 │银行存款平均规模│ 506200.00│ 458200.00│ 10.48│
│ │和利率变动的综合│ │ │ │
│ │影响 │ │ │ │
│汇兑损失净额│欧元和港币对美元│ 62700.00│ 131800.00│ -52.43│
│ │汇率波动产生的影│ │ │ │
│ │响 │ │ │ │
│所得税费用 │公司整体税前盈利│ 4749100.00│ 5199400.00│ -8.66│
│ │水平下降 │ │ │ │
│除所得税外其│油价下降的影响 │ 1819400.00│ 2027600.00│ -10.27│
│他税金 │ │ │ │ │
│折旧、折耗和│油气销量上升的影│ 7977100.00│ 7460600.00│ 6.92│
│摊销 │响 │ │ │ │
│作业费用 │产量上升，导致作│ 4027300.00│ 3822700.00│ 5.35│
│ │业费用总额增加 │ │ │ │
│销售及管理费│公司油气销量上升│ 1203900.00│ 1114000.00│ 8.07│
│用 │带来的相关成本增│ │ │ │
│ │加 │ │ │ │
│勘探费用 │是公司在坚持价值│ 1536500.00│ 1386000.00│ 10.86│
│ │勘探的基础上 ， │ │ │ │
│ │适度加大风险勘探│ │ │ │
│ │力度带来勘探投资│ │ │ │
│ │和勘探费用上升 │ │ │ │
│经营活动流入│油气销售收入减少│ 20904200.00│ 22089100.00│ -5.36│
│的净现金流量│ │ │ │ │
│投资活动流出│二零二五年，公司│-12526400.00│ -17542600.00│ 28.59│
│的净现金流量│资本性投资支付的│ │ │ │
│ │现金为人民币111,│ │ │ │
│ │555百万元，较二 │ │ │ │
│ │零二四年人民币12│ │ │ │
│ │3,359百万元减少9│ │ │ │
│ │.6%，二零二五年 │ │ │ │
│ │，公司的投资主要│ │ │ │
│ │为油气勘探开发投│ │ │ │
│ │资。此外，公司的│ │ │ │
│ │投资活动还包括在│ │ │ │
│ │本年度购买结构性│ │ │ │
│ │存款人民币23,000│ │ │ │
│ │百万元，同时，到│ │ │ │
│ │期收回理财产品及│ │ │ │
│ │结构性存款等人民│ │ │ │
│ │币42,113百万元，│ │ │ │
│ │以及增加到期日超│ │ │ │
│ │过三个月的定期存│ │ │ │
│ │款人民币45,273百│ │ │ │
│ │万元 │ │ │ │
│融资活动流出│二零二五年，公司│ -8598300.00│ -9793500.00│ 12.20│
│的净现金流量│融资活动的净现金│ │ │ │
│ │流出主要是因偿还│ │ │ │
│ │债券和贷款等流出│ │ │ │
│ │人民币19,692百万│ │ │ │
│ │元以及支付股利人│ │ │ │
│ │民币60,432百万元│ │ │ │
│流动资产 │货币资金增加 │ 29538300.00│ 26460900.00│ 11.63│
│非流动资产 │物业厂房及设备增│ 80317600.00│ 79167200.00│ 1.45│
│ │加 │ │ │ │
│资产总额 │--- │109855900.00│ 105628100.00│ 4.00│
│流动负债 │一年内到期的非流│ 9125300.00│ 11887500.00│ -23.24│
│ │动负债减少 │ │ │ │
│非流动负债 │预计负债增加 │ 20212200.00│ 18797000.00│ 7.53│
│负债总额 │--- │ 29337500.00│ 30684500.00│ -4.39│
│归属母公司股│--- │ 80275000.00│ 74754800.00│ 7.38│
│东权益 │ │ │ │ │
│少数股东权益│--- │ 243400.00│ 188800.00│ 28.92│
│总权益 │--- │ 80518400.00│ 74943600.00│ 7.44│
└──────┴────────┴──────┴────────┴──────┘
【7.资产负债表摘要】
┌──────────┬──────┬──────┬──────┬──────┬──────┬──────┐
│资产负债指标(万元) │ 2026-06-30│ 2025-12-31│ 2024-12-31│ 2023-12-31│ 2022-12-31│ 2021-12-31│
├──────────┼──────┼──────┼──────┼──────┼──────┼──────┤
│货币资金 │ 31437800.00│ 21469500.00│ 15419600.00│ 15056200.00│ 12138700.00│ 7973000.00│
│存货 │ 672500.00│ 609000.00│ 573200.00│ 645100.00│ 623900.00│ 570300.00│
│应收票据及应收账款 │ 4325600.00│ 3242500.00│ 3307800.00│ 3638600.00│ 3654600.00│ 2704800.00│
│合同资产 │ ---│ ---│ ---│ ---│ ---│ ---│
│预付款项 │ 570700.00│ 477100.00│ 292400.00│ 321800.00│ 311500.00│ 286700.00│
│其他应收款 │ 695100.00│ 594500.00│ 560800.00│ 525600.00│ 494200.00│ 605700.00│
│流动资产合计 │ 39380900.00│ 29538300.00│ 26460900.00│ 25027500.00│ 26467900.00│ 20798200.00│
│可出售金融资产 │ ---│ ---│ ---│ ---│ ---│ ---│
│长期股权投资 │ 4517800.00│ 4581900.00│ 4849100.00│ 5125200.00│ 4892700.00│ 4154000.00│
│固定资产净额 │ 637400.00│ 655200.00│ 673900.00│ 701000.00│ 665200.00│ 503600.00│
│在建工程 │ 16370700.00│ 15091300.00│ 15727800.00│ 160100.00│ 143600.00│ 154500.00│
│无形资产 │ 339300.00│ 368300.00│ 376200.00│ 369200.00│ 379800.00│ 323200.00│
│商誉 │ 1448300.00│ 1494600.00│ 1528500.00│ 1506100.00│ 1480900.00│ 1355700.00│
│非流动资产合计 │ 80869400.00│ 80317600.00│ 79167200.00│ 75532300.00│ 66435200.00│ 57858700.00│
│资产总计 │120250300.00│109855900.00│105628100.00│100559800.00│ 92903100.00│ 78656900.00│
│应付票据及应付账款 │ 7225100.00│ 5963100.00│ 5968500.00│ 6138200.00│ 5978900.00│ 4899000.00│
│预收款项 │ ---│ ---│ ---│ ---│ ---│ ---│
│合同负债 │ 60700.00│ 80400.00│ 50800.00│ 138300.00│ 169100.00│ 198300.00│
│流动负债 │ 14066800.00│ 9125300.00│ 11887500.00│ 12393900.00│ 11339100.00│ 9395100.00│
│长期借款 │ 457800.00│ 510200.00│ 578600.00│ 1129600.00│ 1128700.00│ 1129000.00│
│长期应付款 │ 301500.00│ 313300.00│ 316700.00│ 663100.00│ 691700.00│ 645700.00│
│非流动负债 │ 20327600.00│ 20212200.00│ 18797000.00│ 21378300.00│ 21725700.00│ 21064200.00│
│负债合计 │ 34394400.00│ 29337500.00│ 30684500.00│ 33772200.00│ 33064800.00│ 30459300.00│
│实收资本 │ 7518000.00│ 7518000.00│ 7518000.00│ 7518000.00│ 7518000.00│ 4308100.00│
│资本公积金 │ 285700.00│ 285100.00│ 285100.00│ 286100.00│ 285400.00│ 285400.00│
│盈余公积 │ 7000000.00│ 7000000.00│ 7000000.00│ 7000000.00│ 7000000.00│ 7000000.00│
│未分配利润 │ 71496500.00│ 65186900.00│ 59007500.00│ 51534500.00│ 44898500.00│ 38436200.00│
│少数股东权益 │ 250500.00│ 243400.00│ 188800.00│ 129000.00│ 120100.00│ 106400.00│
│归属母公司权益 │ 85605400.00│ 80275000.00│ 74754800.00│ 66658600.00│ 59718200.00│ 48091200.00│
│股东权益合计 │ 85855900.00│ 80518400.00│ 74943600.00│ 66787600.00│ 59838300.00│ 48197600.00│
└──────────┴──────┴──────┴──────┴──────┴──────┴──────┘
┌──────────┬──────┬──────┬──────┬──────┬──────┬──────┐
│资产负债指标(万元) │ 2026-06-30│ 2026-03-31│ 2025-12-31│ 2025-09-30│ 2025-06-30│ 2025-03-31│
├──────────┼──────┼──────┼──────┼──────┼──────┼──────┤
│货币资金 │ 31437800.00│ 24633500.00│ 21469500.00│ 24202900.00│ 22362900.00│ 18873400.00│
│存货 │ 672500.00│ 554500.00│ 609000.00│ 620700.00│ 624200.00│ 581100.00│
│应收票据及应收账款 │ 4325600.00│ 5514300.00│ 3242500.00│ 3910900.00│ 4442400.00│ 5031300.00│
│合同资产 │ ---│ ---│ ---│ ---│ ---│ ---│
│预付款项 │ 570700.00│ 507100.00│ 477100.00│ 444800.00│ 415500.00│ 347400.00│
│其他应收款 │ 695100.00│ 576000.00│ 594500.00│ 664000.00│ 582300.00│ 553700.00│
│流动资产合计 │ 39380900.00│ 34293200.00│ 29538300.00│ 33267800.00│ 32148900.00│ 29976900.00│
│可出售金融资产 │ ---│ ---│ ---│ ---│ ---│ ---│
│长期股权投资 │ 4517800.00│ 4543500.00│ 4581900.00│ 4742500.00│ 4773600.00│ 4847300.00│
│固定资产净额 │ 637400.00│ 641400.00│ 655200.00│ 659100.00│ 668200.00│ 662600.00│
│在建工程 │ 16370700.00│ 15658800.00│ 15091300.00│ 15236700.00│ 15976700.00│ 15748600.00│
│无形资产 │ 339300.00│ 352200.00│ 368300.00│ 345500.00│ 360300.00│ 361800.00│
│商誉 │ 1448300.00│ 1471300.00│ 1494600.00│ 1510900.00│ 1522200.00│ 1526400.00│
│非流动资产合计 │ 80869400.00│ 80863100.00│ 80317600.00│ 79379600.00│ 79746800.00│ 80293700.00│
│资产总计 │120250300.00│115156300.00│109855900.00│112647400.00│111895700.00│110270600.00│
│应付票据及应付账款 │ 7225100.00│ 6806900.00│ 5963100.00│ 7185000.00│ 7064400.00│ 6605000.00│
│预收款项 │ ---│ ---│ ---│ ---│ ---│ ---│
│合同负债 │ 60700.00│ 72500.00│ 80400.00│ 130900.00│ 88600.00│ 148500.00│
│流动负债 │ 14066800.00│ 10830700.00│ 9125300.00│ 14359700.00│ 13614600.00│ 12531900.00│
│长期借款 │ 457800.00│ 477000.00│ 510200.00│ 517300.00│ 548800.00│ 547600.00│
│长期应付款 │ 301500.00│ 305500.00│ 313300.00│ 320800.00│ 322400.00│ 321700.00│
│非流动负债 │ 20327600.00│ 20368000.00│ 20212200.00│ 19530900.00│ 19443600.00│ 19160300.00│
│负债合计 │ 34394400.00│ 31198700.00│ 29337500.00│ 33890600.00│ 33058200.00│ 31692200.00│
│实收资本 │ 7518000.00│ 7518000.00│ 7518000.00│ 7518000.00│ 7518000.00│ 7518000.00│
│资本公积金 │ 285700.00│ 285600.00│ 285100.00│ 285600.00│ 285400.00│ 285300.00│
│盈余公积 │ 7000000.00│ 7000000.00│ 7000000.00│ 7000000.00│ 7000000.00│ 7000000.00│
│未分配利润 │ 71496500.00│ 69101300.00│ 65186900.00│ 63175700.00│ 63093600.00│ 62663900.00│
│少数股东权益 │ 250500.00│ 247400.00│ 243400.00│ 200700.00│ 190700.00│ 196000.00│
│归属母公司权益 │ 85605400.00│ 83710200.00│ 80275000.00│ 78556100.00│ 78646800.00│ 78382400.00│
│股东权益合计 │ 85855900.00│ 83957600.00│ 80518400.00│ 78756800.00│ 78837500.00│ 78578400.00│
└──────────┴──────┴──────┴──────┴──────┴──────┴──────┘
【8.利润表摘要】
┌──────────┬──────┬──────┬──────┬──────┬──────┬──────┐
│利润表指标(万元) │ 2026-06-30│ 2025-12-31│ 2024-12-31│ 2023-12-31│ 2022-12-31│ 2021-12-31│
├──────────┼──────┼──────┼──────┼──────┼──────┼──────┤
│营业总收入 │ 24266000.00│ 39822000.00│ 42050600.00│ 41660900.00│ 42223000.00│ 24611100.00│
│营业总成本 │ 13008000.00│ 22563200.00│ 23055700.00│ 24608900.00│ 23126800.00│ 14611100.00│
│营业税金及附加 │ 1268000.00│ 1819400.00│ 2027600.00│ 2433100.00│ 1877800.00│ 1117200.00│
│销售费用 │ 24700.00│ 392600.00│ 353200.00│ 350100.00│ 335500.00│ 269400.00│
│财务费用 │ 14000.00│ 82300.00│ 283200.00│ 84600.00│ 302900.00│ 393600.00│
│管理费用 │ 342300.00│ 776900.00│ 721300.00│ 701200.00│ 635600.00│ 521800.00│
│资产减值损失 │ -300.00│ -380900.00│ -804700.00│ -352300.00│ -67700.00│ -796300.00│
│公允价值变动净收益 │ 15500.00│ 68200.00│ 459700.00│ 30000.00│ -70500.00│ 77900.00│
│投资收益 │ 78700.00│ -94300.00│ 249700.00│ 471500.00│ 467400.00│ 241700.00│
│营业利润 │ 11363700.00│ 16911300.00│ 18996400.00│ 17289100.00│ 19492500.00│ 9580400.00│
│营业外收入 │ 19800.00│ 88800.00│ 39800.00│ 51000.00│ 16100.00│ 20600.00│
│营业外支出 │ 32200.00│ 36200.00│ 38600.00│ 42700.00│ 31600.00│ 18900.00│
│利润总额 │ 11351300.00│ 16963900.00│ 18997600.00│ 17297400.00│ 19477000.00│ 9582100.00│
│所得税 │ 2764400.00│ 4749100.00│ 5199400.00│ 4888400.00│ 5309300.00│ 2551400.00│
│净利润 │ 8586900.00│ 12214800.00│ 13798200.00│ 12409000.00│ 14167700.00│ 7030700.00│
│归属母公司净利润 │ 8581800.00│ 12208200.00│ 13793600.00│ 12384300.00│ 14170000.00│ 7032000.00│
└──────────┴──────┴──────┴──────┴──────┴──────┴──────┘
┌──────────┬──────┬──────┬──────┬──────┬──────┬──────┐
│利润表指标(万元) │ 2026-06-30│ 2026-03-31│ 2025-12-31│ 2025-09-30│ 2025-06-30│ 2025-03-31│
├──────────┼──────┼──────┼──────┼──────┼──────┼──────┤
│营业总收入 │ 24266000.00│ 11607900.00│ 39822000.00│ 31250300.00│ 20760800.00│ 10685400.00│
│营业总成本 │ 13008000.00│ 6413000.00│ 22563200.00│ 17259300.00│ 11189900.00│ 5653000.00│
│营业税金及附加 │ 1268000.00│ 543000.00│ 1819400.00│ 1358100.00│ 990300.00│ 500600.00│
│销售费用 │ 24700.00│ 12400.00│ 392600.00│ 277700.00│ 182600.00│ 93800.00│
│财务费用 │ 14000.00│ -10000.00│ 82300.00│ 46700.00│ -54800.00│ 15500.00│
│管理费用 │ 342300.00│ 169300.00│ 776900.00│ 540000.00│ 341100.00│ 164800.00│
│资产减值损失 │ -300.00│ -700.00│ -380900.00│ -6500.00│ -5900.00│ 200.00│
│公允价值变动净收益 │ 15500.00│ 9200.00│ 68200.00│ 51500.00│ 38300.00│ 19700.00│
│投资收益 │ 78700.00│ 26800.00│ -94300.00│ -119600.00│ -133100.00│ -63700.00│
│营业利润 │ 11363700.00│ 5235000.00│ 16911300.00│ 13941500.00│ 9481900.00│ 4992700.00│
│营业外收入 │ 19800.00│ 11700.00│ 88800.00│ 12000.00│ 9200.00│ 3700.00│
│营业外支出 │ 32200.00│ 10900.00│ 36200.00│ 40600.00│ 25200.00│ 13200.00│
│利润总额 │ 11351300.00│ 5235800.00│ 16963900.00│ 13912900.00│ 9465900.00│ 4983200.00│
│所得税 │ 2764400.00│ 1317400.00│ 4749100.00│ 3706800.00│ 2506600.00│ 1323100.00│
│净利润 │ 8586900.00│ 3918400.00│ 12214800.00│ 10206100.00│ 6959300.00│ 3660100.00│
│归属母公司净利润 │ 8581800.00│ 3914400.00│ 12208200.00│ 10197100.00│ 6953300.00│ 3656300.00│
└──────────┴──────┴──────┴──────┴──────┴──────┴──────┘
【9.现金流量表摘要】
┌──────────┬──────┬──────┬──────┬──────┬──────┬──────┐
│现金流量指标(万元) │ 2026-06-30│ 2025-12-31│ 2024-12-31│ 2023-12-31│ 2022-12-31│ 2021-12-31│
├──────────┼──────┼──────┼──────┼──────┼──────┼──────┤
│经营活动现金流入 │ 24855100.00│ 42993200.00│ 45456200.00│ 44656200.00│ 44703600.00│ 26314500.00│
│经营活动现金流出 │ 10692000.00│ 22089000.00│ 23367100.00│ 23681900.00│ 24146200.00│ 11525200.00│
│经营活动现金流量净额│ 14163100.00│ 20904200.00│ 22089100.00│ 20974300.00│ 20557400.00│ 14789300.00│
│投资活动现金流入 │ 11001800.00│ 17358300.00│ 9259200.00│ 16646000.00│ 18387400.00│ 8954500.00│
│投资活动现金流出 │ 16475100.00│ 29884700.00│ 26801800.00│ 24455500.00│ 28234700.00│ 18578000.00│
│投资活动现金流量净额│ -5473300.00│-12526400.00│-17542600.00│ -7809500.00│ -9847300.00│ -9623500.00│
│筹资活动现金流入 │ 4200.00│ 65600.00│ 201300.00│ 28100.00│ 3310800.00│ 896400.00│
│筹资活动现金流出 │ 338400.00│ 8663900.00│ 9994800.00│ 8450900.00│ 9807000.00│ 4229600.00│
│筹资活动现金流量净额│ -334200.00│ -8598300.00│ -9793500.00│ -8422800.00│ -6496200.00│ -3333200.00│
│汇率变动对现金的影响│ -53500.00│ -40000.00│ 31500.00│ 38600.00│ 206200.00│ -91300.00│
│现金及等价物净增加额│ 8302100.00│ -260500.00│ -5215500.00│ 4780600.00│ 4420100.00│ 1741300.00│
└──────────┴──────┴──────┴──────┴──────┴──────┴──────┘
┌──────────┬──────┬──────┬──────┬──────┬──────┬──────┐
│现金流量指标(万元) │ 2026-06-30│ 2026-03-31│ 2025-12-31│ 2025-09-30│ 2025-06-30│ 2025-03-31│
├──────────┼──────┼──────┼──────┼──────┼──────┼──────┤
│经营活动现金流入 │ 24855100.00│ 10168000.00│ 42993200.00│ 32971900.00│ 21122400.00│ 10589800.00│
│经营活动现金流出 │ 10692000.00│ 4653200.00│ 22089000.00│ 15797000.00│ 10204200.00│ 4862400.00│
│经营活动现金流量净额│ 14163100.00│ 5514800.00│ 20904200.00│ 17174900.00│ 10918200.00│ 5727400.00│
│投资活动现金流入 │ 11001800.00│ 2594100.00│ 17358300.00│ 11057100.00│ 7245400.00│ 1933600.00│
│投资活动现金流出 │ 16475100.00│ 4768400.00│ 29884700.00│ 21194600.00│ 14623700.00│ 5474400.00│
│投资活动现金流量净额│ -5473300.00│ -2174300.00│-12526400.00│-10137500.00│ -7378300.00│ -3540800.00│
│筹资活动现金流入 │ 4200.00│ 1600.00│ 65600.00│ 15500.00│ 6100.00│ 4200.00│
│筹资活动现金流出 │ 338400.00│ 165500.00│ 8663900.00│ 5329200.00│ 2251200.00│ 183600.00│
│筹资活动现金流量净额│ -334200.00│ -163900.00│ -8598300.00│ -5313700.00│ -2245100.00│ -179400.00│
│汇率变动对现金的影响│ -53500.00│ -20800.00│ -40000.00│ -25600.00│ -9500.00│ 4700.00│
│现金及等价物净增加额│ 8302100.00│ 3155800.00│ -260500.00│ 1698100.00│ 1285300.00│ 2011900.00│
└──────────┴──────┴──────┴──────┴──────┴──────┴──────┘
【10.环比分析】
┌──────┬───────┬───────┬───────┬───────┐
│2025年度 │主营收入(万元)│ 占年度比重(%)│ 净利润(万元)│ 占年度比重(%)│
├──────┼───────┼───────┼───────┼───────┤
│一季报 │ 10685400.00│ 26.83│ 3656300.00│ 29.95│
│二季报 │ 10075400.00│ 25.30│ 3297000.00│ 27.01│
│三季报 │ 10489500.00│ 26.34│ 3243800.00│ 26.57│
│四季报 │ 8571700.00│ 21.53│ 2011100.00│ 16.47│
└──────┴───────┴───────┴───────┴───────┘
┌──────┬───────┬───────┬───────┬───────┐
│2024年度 │主营收入(万元)│ 占年度比重(%)│ 净利润(万元)│ 占年度比重(%)│
├──────┼───────┼───────┼───────┼───────┤
│一季报 │ 11146800.00│ 26.51│ 3971900.00│ 28.80│
│二季报 │ 11530200.00│ 27.42│ 4001200.00│ 29.01│
│三季报 │ 9925400.00│ 23.60│ 3692800.00│ 26.77│
│四季报 │ 9448200.00│ 22.47│ 2127700.00│ 15.43│
└──────┴───────┴───────┴───────┴───────┘
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