長江 & 黃埔 業績一問 (急)

Cheong Kong
Net profit ratio (profit attributable to shareholders / turnover)
= 13,995 / 14,358
= 0.9747

Debt to equity ratio (non-current bank and other loans / total equity)
= 18,683 / 189,923
= 0.0984

Hutchison
Net profit ratio (profit attributable to shareholders / revenue)
= 14,343 / 182,584
= 0.0786

Debt to equity ratio [(long term borrowing+personal obligation+other non-current liabilities) / total equity]
= 244,679 / 253,629
= 0.9647

Net profit ratio cannot be compared as the business of these two companies are different.

The debt to equity ratio (D/E) is a financial ratio indicating the relative proportion of equity and debt used to finance a company's assets. It is important to realize that if the ratio is greater than 1, the majority of assets are financed through debt. If it is smaller than 1, assets are primarily financed through equity. Thus, it means that Hutchison has much high risk than Cheong Kong by considering this ratio only; the banker will prefer to grant a large loan to Cheung Kong.

HKD(K$)
2006/12 變 動 HKD(K$)
2005/12 HKD(K$)
2004/12
營 業 額 10,951,000 77.459% 6,171,000 12,149,000
經 營 溢 利 / (虧 損) 7,608,000 93.686% 3,928,000 3,554,000
特 殊 項 目 0 - 0 0
攤 佔 聯 營 公 司 及
共 同 控 制 公 司 溢 利 / (虧 損) 11,884,000 12.794% 10,536,000 7,448,000
稅 前 溢 利 / (虧 損) 19,492,000 34.762% 14,464,000 11,002,000
稅 項 (1,213,000) - (259,000) (230,000)
少 數 股 東 權 益 (204,000) - (210,000) (72,000)
股 東 應 佔 溢 利 / (虧 損) 18,075,000 29.153% 13,995,000 10,700,000

淨 利 息 收 入 / (支 出) - - 82,000 (77,000)
折 舊 與 攤 銷 172,000 3.614% 166,000 202,000
董 事 酬 金 - - 146,260 130,110

每 股 盈 利 / (虧 損)(仙) 780.000 29.139% 604.000 462.000
每 股 派 息 (仙) 220.000 10.000% 200.000 180.000

派 息 比 率 (％) 28.205% 33.113% 38.961%
每 股 帳 面 資 產 淨 值 ($) 86.532 8.241% 79.943 75.902

主 要 財 務 比 率
經 營 邊 際 利 潤 率 (％) 69.473% 63.653% 29.253%
利 息 盈 利 率 (x) 34.093 42.683 32.434
資 產 回 報 率 (％) 7.757% 6.635% 5.319%
股 東 資 金 回 報 率 (％) 9.375% 7.754% 6.161%