资本结构与资产结构的分析-贵州茅台2014年4月18日目录1. 贵州茅台基本情况概述2. 搜集贵州茅台2009年至2012年的年度报告3. 整理贵州茅台2009年至2012年的资产负债表的资料4.确定分析者立场5.计算贵州茅台2009年至2012年资本结构和资产结构指标6.撰写财务报告1.公司基本情况贵州茅台集团，其前身是中国贵州茅台酒厂，1997 年成功改制为有限责任公司（以下简称集团公司），1999 年，由有限责任公司联合中国食品发酵研究所发起的贵州茅台酒股份有限公司正式成立， 2001 年 8 月，贵州茅台股票在上交所挂牌上市股票代码（600519），属白酒行业，经营范围为：茅台酒系列产品的生产与销售；饮料、食品、包装材料的生产与销售；防伪技术开发；信息产业相关产品的研制、开发等。主要产品为茅台酒及其系列白酒。2012年总股本为1038180000股。2. 贵州茅台2009-2012年度报告汇总会计年度2009-12-312010-12-312011-12-312012-12-31货币资金9,743,152,155.2412,888,393,889.2918,254,690,162.0422,061,999,850.17交易性金融资产-应收票据380,760,283.20204,811,101.20252,101,396.08204,079,117.80应收账款21,386,314.281,254,599.912,225,396.4817,818,147.27预付款项1,203,126,087.161,529,868,837.521,861,027,424.033,872,870,407.89其他应收款96,001,483.1559,101,891.6347,287,488.89137,968,684.11应收关联公司款-应收利息1,912,600.0042,728,425.34225,182,760.05264,612,813.22应收股利-存货4,192,246,440.365,574,126,083.427,187,117,552.869,665,727,593.42其中：消耗性生物资产-一年内到期的非流动资产17,000,000.00-其他流动资产-流动资产合计15,655,585,363.3920,300,284,828.3127,829,632,180.4336,225,076,613.88可供出售金融资产-持有至到期投资10,000,000.0060,000,000.0060,000,000.0050,000,000.00长期应收款-长期股权投资4,000,000.004,000,000.004,000,000.004,000,000.00投资性房地产-固定资产3,168,725,156.294,191,851,111.975,426,012,349.616,807,333,231.09在建工程193,956,334.39263,458,445.10251,446,326.43392,672,323.95工程物资24,915,041.5318,528,802.464,918,294.642,676,942.59固定资产清理-生产性生物资产-油气资产-无形资产465,550,825.17452,317,235.72808,425,512.33862,615,899.20开发支出-商誉-长期待摊费用21,469,624.8118,701,578.1613,805,361.4410,177,029.43递延所得税资产225,420,802.14278,437,938.97502,628,950.53643,656,913.32其他非流动资产-非流动资产合计4,114,037,784.335,287,295,112.387,071,236,794.988,773,132,339.58资产总计19,769,623,147.7225,587,579,940.6934,900,868,975.4144,998,208,953.46短期借款-交易性金融负债-应付票据-应付账款139,121,352.45232,013,104.28172,343,585.06345,280,977.68预收款项3,516,423,880.204,738,570,750.167,026,648,776.805,091,386,269.55应付职工薪酬463,948,636.85500,258,690.69577,522,908.06269,657,755.58应交税费140,524,984.34419,882,954.10788,080,887.252,430,093,461.38应付利息-应付股利137,207,662.62318,584,196.29-其他应付款710,831,237.05818,880,550.55916,123,206.951,389,984,092.02应付关联公司款-一年内到期的非流动负债-其他流动负债-流动负债合计5,108,057,753.517,028,190,246.079,480,719,364.129,526,402,556.21长期借款-应付债券-长期应付款-专项应付款10,000,000.0010,000,000.0016,770,000.0017,770,000.00预计负债-递延所得税负债-其他非流动负债-非流动负债合计10,000,000.0010,000,000.0016,770,000.0017,770,000.00负债合计5,118,057,753.517,038,190,246.079,497,489,364.129,544,172,556.21实收资本（或股本）943,800,000.00943,800,000.001,038,180,000.001,038,180,000.00资本公积1,374,964,415.721,374,964,415.721,374,964,415.721,374,964,415.72盈余公积1,585,666,147.402,176,754,189.472,640,916,373.353,036,434,460.46减：库存股-未分配利润10,561,552,279.6913,903,255,455.6119,937,119,181.9628,700,075,247.50少数股东权益185,582,551.40150,615,633.82412,199,640.261,304,382,273.57外币报表折算价差-非正常经营项目收益调整-归属母公司所有者权益（或股东权益）14,465,982,842.8118,398,774,060.8024,991,179,971.0334,149,654,123.68所有者权益（或股东权益）合计14,651,565,394.2118,549,389,694.6225,403,379,611.2935,454,036,397.25负债和所有者（或股东权益）合计19,769,623,147.7225,587,579,940.6934,900,868,975.4144,998,208,953.46项目2009年2010年2011年2012年金额(元)百分比金额(元)百分比金额(元)百分比金额(元)百分比货币资金974315215562.23%1288839388963.49%1825469016265.59%2206199985060.90%交易性金融资产-0.00%-0.00%-0.00%-0.00%应收票据3807602832.43%204811101.21.01%252101396.10.91%204079117.80.56%应收账款21386314.30.14%1254599.910.01%2225396.480.01%17818147.270.05%预付款项12031260877.68%15298688387.54%18610274246.69%387287040810.69%其他应收款96001483.20.61%59101891.630.29%47287488.890.17%137968684.10.38%应收关联公司款-0.00%-0.00%-0.00%-0.00%应收利息19126000.01%42728425.340.21%225182760.10.81%264612813.20.73%应收股利-0.00%-0.00%-0.00%-0.00%存货419224644026.78%557412608327.46%718711755325.83%966572759326.68%其中：消耗性生物资产-0.00%-0.00%-0.00%-0.00%一年内到期的非流动资产170000000.11%-0.00%-0.00%-0.00%其他流动资产-0.00%-0.00%-0.00%-0.00%流动