安信证券财务估值模型

资产负债表差额检查经营活动营业收入增长率营业成本/营业收入营业税率销售费用率管理费用率实际所得税率投资收益汇兑收益营业外收入资产处置利得政府补贴其他营业外收入营业外支出资产处置损失其他营业外支出利润分配法定盈余公积提取比例法定公益金提取比例任意盈余公积提取比例少数股东权益/股东权益分红比率营运资金营业现金/营业收入应收票据周转天数应收帐款周转天数其他应收款周转天数存货周转天数应付帐款周转天数应付票据周转天数其他应付款周转天数△预收帐款/营业收入△预付帐款/营业成本△其他流动资产/△营业收入△其他流动负债/△营业收入△其他非流动资产/△营业收入△其他非流动负债/△营业收入坏帐准备存货跌价准备长期股权投资减值准备固定资产减值准备在建工程减值准备无形资产减值准备其他资产减值准备资产减值损失其他资产&负债一年内到期非流动资产长期股权投资生物资产油气资产开发支出商誉2004历史年份2005200620072008E#NAME?预测年2009E#NAME?25.00%65.00%3.50%17.00%6.00%25.00% - - 1.00 - - 1.00 2.00 1.00 1.00#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?30.00%#NAME?65.00%#NAME?3.50%#NAME?17.00%#NAME?6.00%#NAME?25.00%#NAME? -#NAME? -#NAME? 2.00 1.00 - 1.00#NAME? 1.00 - 1.00#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?10.00%5.00%1.00%5.00%50.00%10.00%5.00%0.00%5.00%50.00%8.00%#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?8.00%#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?8.00%#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?8.00%#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?8.00% 0.50 50.00 15.00 80.00 50.00 6.00 20.000.40%0.10%0.00%10.00%0.00%0.00%6.80%0.00%0.00%0.00%0.00%0.00% -#NAME?8.00% 0.50 50.00 15.00 80.00 50.00 6.00 20.000.40%0.10%0.00%10.00%0.00%0.00%6.80%0.00%0.00%0.00%0.00%0.00% -#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME? - 20.00 - - - - - 20.00 - - - -长期待摊费用递延所得税资产一年内到期非流动负债应付债券递延所得税负债金融资产和负债发放贷款及垫款交易性金融资产持有至到期投资可供出售金融资产投资性房地产交易性金融负债公允价值变动△交易性金融资产△交易性金融负债

△其他公允价值变动收益公允价值变动收益

#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME? - 2.00 20.00 - - - 2.00 20.00 - -#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME? - - - - - - - - - - - -#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME?#NAME? -#NAME?#NAME? - - - -预测年份

2010E#NAME?20.00%65.00%3.50%17.00%6.00%25.00% - - 2.00 1.00 - 1.00 1.00 - 1.002011E

#NAME?15.00%65.00%3.50%17.00%6.00%25.00% - - 2.00 1.00 - 1.00 1.00 - 1.0010.00%5.00%0.00%5.00%50.00%10.00%5.00%0.00%5.00%50.00%8.00% 0.50 50.00 15.00 80.00 50.00 6.00 20.000.40%0.10%0.00%10.00%0.00%0.00%6.80%0.00%0.00%0.00%0.00%0.00% -#NAME?8.00% 0.50 50.00 15.00 80.00 50.00 6.00 20.000.40%0.10%0.00%10.00%0.00%0.00%6.80%0.00%0.00%0.00%0.00%0.00% -#NAME? - 20.00 - - - - - 20.00 - - - - - 2.00 20.00 - - - 2.00 20.00 - - - - - - - - - - - - - - - - - - - - - -