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24
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2005 =1,695,113.0 - 307,694.7=1,387,418.3
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: 2006
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25
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2005 =1,695,113.0
307,694.7= 5,50
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26
2005 =1,695,113.0 1,077,655.3
307,694.7= 2,006
2006 = 1,809,070.5 1,274,575.7
478,012.5= 1,118
:
2005 2,006 , 2006
1,118 . 1-.
2006
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2005 =4,197,200,4
1,077,655.3= 3,894//
2006 =4,098,924.8
1,274,575.7= 3,215//
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27
:
2005 3,894 2006 3,215 .
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3,894 = 93,733//
2006 =365
3,293= 110,841//
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110,841
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28
2005 93,733 2006
110,841.
.
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2005 =5,151,207.9
543,781.1= 9,472 //
2006 =4,919045.2
394,723.9= 12,461 //
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2006 12,461
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9,472= 38,53//
2006 =365
12,461= 29,29 //
2005
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www.zaluu.comwww.zaluu.com
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29
: 2006
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2005 38,53
2006 29,29 .
1.
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2005 =5,151,207.9
4,026,643.8= 1,279//
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30
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2006 2005 .
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2005 =5,151,207.9
2,321,942.4= 2,218//
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www.zaluu.comwww.zaluu.com
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31
2005 =808,304.7
4,026,643.8= 0,201 = 20,1%
2006 =850,812.5
4,035,072.0= 0,210 = 21,08%
: 2005 20,1%-
2006
21,1%-
.
2.
=
2005 =500,610.0
3,218,339.1= 0,156 = 15,6 %
2006 =37,800.0
3,184,259.6= 0,117 = 11,7%
0,201
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32
:2005
15,6%- 2006
11,7% .
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2005 =5,151,207.9 4,197,200.4
5,151,207,9= 0,185 = 18,5%
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4,919,045.2= 0,167 = 16,7%
: 2006
2005 . 2006
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2.
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2005 =272,788.5
5,151,207,9= 0,052 = 5,2%
0,185
0,167
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www.zaluu.comwww.zaluu.com
[Type text]
33
2006 =69,390.1
4,919,045.2= 0,014 = 1,4%
: 2005
5,2% 2006 1,4 .
=
/%/
2005 =138,706.4
5,151,207,9= 0,026 = 2,6%
2006 =8,282.6
4,919,045.2= 0,002 = 0,2%
0,052
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0 0
www.zaluu.comwww.zaluu.com
[Type text]
34
: 2005 2,5%
2006 -0,2% .
.
/ROA/
=
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2005 =138,706.4
4,026,643.8= 0,034 = 3,44%
2006 =8,282.6
4,035,072.1= 0,002 = 0,205%
-0,005 0 0,005 0,01 0,015 0,02 0,025 0,03
2005
2006
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www.zaluu.comwww.zaluu.com
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35
:
2005 3,44% 2006 0,205%-.
/ROE/
=
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2005 =138,706.4
3,218,339.1= 0,043 = 4,309%
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3,184,259.6= 0,0026 = 0,26%
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.
=
//
2005 =138,706.4
174,136= 796.54
2006 =8,282,6
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-0,01 0 0,01 0,02 0,03 0,04 0,05
2005
2006
www.zaluu.comwww.zaluu.com
[Type text]
36
:
2005 2006
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/2005 =1026
796.540= 1.288
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47.563= 40.55
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37
2006 -
40,55 .
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Du-Pont
Du- Pont
: 4919045.2
: 4098924.8
: 750730.3
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: 3184259.6
: 3184259.6
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: 84154.9
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: 4919045.2
: 4035072.1
ROA: -0.205
: -0.002
: 1.219
: 4919045.2
ROE: -0.26
www.zaluu.comwww.zaluu.com
[Type text]
38
//
2005 :
1 =199,820.1
4,026,643.8= 0,050
2 =5,151,207.9
4,026,643.8= 1,279
3 =3,218,339.1
4,026,643.8= 0,799
4 =138,706.4
4,026,643.8= 0,034
5 =1,387,418.3
4,026,643.8= 0,345
Z = 3,3 1 + 1,0 2 + 0,6 3 + 1,4 4 + 1,2 5
Z2005 =3,3*0,050 + 1,0*1,279 + 0,6*0,799 + 1,4*0,034 + 1,2*0,345= 2,385
Z2006=3,3*0,001 + 1,0*1,219 + 0,6*0,789 + 1,4*0,317 + 1,2*0,330= 3,7545
Z2005 2,385> 1,8 2005
.
Z2006 3,7545 > 1,8 2006 2005
. -
, .
1 =2,667.3
4,035,072.0= 0,001
2 =4,919,045.2
4,035,072.0= 1,219
3 =3,184,259.6
4,035,072.0= 0,789
4 =1,280,342.9
4,035,072.0= 0,317
5 =1,331,058.0
4,035,072.0= 0,330
2006 :
www.zaluu.comwww.zaluu.com
39
2005 2006
:
-
-
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9,472
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42
2005
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307,694.7 478,012.5 170,407.8 55,38
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5,496,423.0
9,588.4 8,067.4
/+/ 4,026,643.8 4,035,072,0
.
307,694.7 478,012.5
65,715.6 27,048.7
2,818.6
26,876.8 23,949.9
311.4 21,246.9
- 1,244.7 2,029.1
2,421.1
207,570.0 400000.0
2,605.6 228.7
552.0 1,088.0
. 500,610.0 372,800.0
500,610.0 372,800.0
/+/
808,304.7 850,812.5
. 3,218,339.1 3,184,259.6
17,413.6 17,413.6
-250.9 -250.9
-2,490.2 -2,490.2
3,064,960.1 1,889,244.2
// 138,706.4 -8,282.6
// 1,288,625.5
www.zaluu.comwww.zaluu.com
52
/+/ 4,026,643.8 4,035,072.0
2005
2006
1. 5,151,207.9 4,919,045.2
5,151,207.9 4,946,992.3
9,070.2
18,876.9
2. 4,197,200.4 4,098,924.8
3./1-2/ 954,007.6 820,120.4
4. 681,219.1 750,730.3
223,276.7 262,096.9
42,782.4 60,179.2
35,804.7 42,015.2
4,476.8
17,352.3 21,629.1
11,209.4 13,439.6
68,529.6 53,919.6
4,308.3
10,828.9 15,143.7
25,480.6 23,853.2
135,768.5 144,960.4
105,877.7 109,016.5
5. // /3-4/ 272,788.5 69,390.1
6. 211.6 8,716.0
7,337.4
1,378.7
7. 284.5 75,438.9
75,438.9
8. // 272,715.5 2,667.3
www.zaluu.comwww.zaluu.com
53
/5+6-7/
9. 0.0 0.0
10. 0.0 0.0
11. /8+9+10/ 199,820.1 2,667.3
12. 61,113.7 10,949.9
13. // /11-
12/
138,706.4 -8,282.6
www.zaluu.comwww.zaluu.com