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恒立油缸:2014年年度呈文摘要

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恒立油缸:2014年年度报告摘要 公告日期 2015-03-31 公司代码:601100 公司简称:恒立油缸
                       江苏恒立高压油缸股份有限公司
                           2014 年年度报告摘要一 重要提示1.1 本年度报告摘要来自年度报告全文,投资者欲了解详细内容,应当仔细阅读同时刊载于上海
       证券交易所网站等中国证监会指定网站上的年度报告全文。1.2 公司简介
                                    公司股票简况
      股票种类       股票上市交易所   股票简称             股票代码      变更前股票简称
    A股                上海证券交易所 恒立油缸             601100
       联系人和联系方式                 董事会秘书                    证券事务代表
             姓名              汪立平(代)                     张小芳、周佳立
             电话              0519-86163673                  0519-86163673
             传真              0519-86153331                  0519-86153331
           电子信箱            hlzqb@hengli-mail.cn           hlzqb@hengli-mail.cn二 主要财务数据和股东情况2.1 公司主要财务数据
                                                                 单位:元 币种:人民币
                                                       本期末比上年同
                    2014年末           2013年末                           2012年末
                                                       期末增减(%)
    总资产           4,059,411,320.40   3,854,076,994.73             5.33 3,814,705,524.21归属于上市公
    司股东的净资     3,443,760,897.82   3,434,141,859.29              0.28   3,306,472,343.66产
                                                       本期比上年同期
                     2014年             2013年                               2012年
                                                           增减(%)经营活动产生
    的现金流量净       251,964,181.46     253,084,569.98             -0.44     238,552,480.93额
    营业收入          1,093,289,087.66    1,229,739,895.36            -11.10      1,045,146,077.19归属于上市公
    司股东的净利          91,907,176.79     221,401,303.63            -58.49        275,227,958.51润归属于上市公司股东的扣除
                      31,204,768.88     189,961,650.25            -83.57        257,378,063.13非经常性损益的净利润加权平均净资
                                                         减少3.92个百分
    产收益率(%                   2.68                6.60                                   8.54
                                                                     点)基本每股收益
                              0.15                0.35            -57.14                 0.44(元/股)稀释每股收益
                              0.15                0.35            -57.14                 0.44(元/股)
    2.2    截止报告期末的股东总数、前十名股东、前十名流通股东(或无限售条件股东)持股情况
      表
                                                                                      单位: 股
    截止报告期末股东总数(户)                                                              14,104
    年度报告披露日前第五个交易日末的股东总数(户)                                          11,786截止报告期末表决权恢复的优先股股东总数(户)年度报告披露日前第五个交易日末表决权恢复的优先股股东总数(户)
                                前 10 名股东持股情况
                                                             持有有限
                            股东性    持股比      持股                   质押或冻结的股份数
           股东名称                                          售条件的
                              质      例(%)       数量                           量
                                                             股份数量
    常州恒屹实业投资有限       境内非         42   264,600,000           0   无       264,600,000
    公司                       国有法
                           人
    申诺科技(香港)有限公       境外法      18.75   118,125,000          0    无       118,125,000
    司                         人
    江苏恒立投资有限公司       境内非      14.25   89,775,000           0    无
                           国有法
                           人
    兴业银行股份有限公司       其他         3.18   20,015,731           0    未知-兴全趋势投资混合型证券投资基金
    兴业银行股份有限公司       其他         1.74   10,940,729           0    未知-兴全全球视野股票型证券投资基金
    资本国际公司               其他         1.60   10,079,794           0    未知
    中国建设银行股份有限       其他         0.81    5,089,709           0    未知公司-光大保德信动态优选灵活配置混合型证券投资基金
    招商银行股份有限公司    其他         0.51    3,228,895          0   未知-兴全合润分级股票型证券投资基金
    钱佩新                  其他         0.48    3,001,467          0   未知
    阳光人寿保险股份有限    其他         0.46    2,878,998          0   未知公司-传统保险产品
    上述股东关联关系或一致行动的说   常州恒屹实业投资有限公司与江苏恒立投资有限公司同为
    明                               公司实际控制人汪立平先生及钱佩新女士控制;申诺科技
                                 (香港)有限公司实际控制人汪奇先生系汪立平与钱佩新夫
                                 妇之子;兴业银行股份有限公司-兴全趋势投资混合型证券
                                 投资基金、兴业银行股份有限公司-兴全全球视野股票型证
                                 券投资基金、招商银行股份有限公司-兴全合润分级股票型
                                 证券投资基金和兴业全球基金-中国银行-平安人寿-平
                                 安人寿委托投资 1 号资产管理计划同属兴业全球基金管理有
                                 限公司管理;阳光人寿保险股份有限公司-分红保险产品和
                                 阳光人寿保险股份有限公司-传统保险产品同属阳光人寿
                                 保险股份有限公司管理。除以上股东之间的关联关系外,公
                                 司未知其他股东之间是否存在关联关系,也未知是否属于
                                 《上市公司收购管理办法》规定的一致行动人。表决权恢复的优先股股东及持股数量的说明2.3 公司与实际控制人之间的产权及控制关系的方框图注:上图为截至 2014 年 12 月 31 日的公司与实际控制人之间的产权及控制关系三、 董事会关于公司报告期内经营情况的讨论与分析
    2014 年,工程机械行业发展面临的国际国内市场环境复杂严峻。全球经济复苏艰难曲折,主要经济体走势分化。国内经济下行压力持续加大,固定资产投资增速放缓,中国经济发展进入新常态,工程机械行业多重困难和挑战相互交织。
    在面对错综复杂的外部经营环境,公司转变经营思路,适应市场变化,坚持强基础、练内功、求创新,适应中国经济新常态和世界经济新格局。一手抓液压核心系统泵阀研制工作不动摇,在液压系统研制领域取得重大进展,以尖端技术研发打造核心制造能力;一手抓海外市场和国外客户开拓不放松,在稳定内资品牌市场份额的同时,通过积极开拓国际市场,不断开拓国外市场客户,取得了国外销售同比增长 23%的成绩,全年营业收入虽仍出现一定程度下降,但整体好于行业平均水平,同时实现了公司核心客户的持续优化,现金流质量显著提升。公司液压油缸产品市场地位稳固,国际业务快速增长,新产品研发加大投入,公司整体经营情况继续走在行业前列。
    报告期内,实现营业收入 109,328.91 万元,同比下降 11.10%。报告期共销售油缸 189,758 只,其中挖掘机专用油缸 142,634 只;重型装备用非标准油缸 47,124 只。公司实行大客户战略,保证了挖掘机专用油缸市场龙头地位,重型装备用非标准油缸对公司主营业务收入贡献程度持续提升,特别是盾构机专用油缸销售增速加快,成为公司新的业绩增长点。
    报告期内,利润总额 10,816.37 万元,归属于上市公司股东的净利润 9,190.72 万元,同比下降58.49%。按照国际一流水准建设的铸件和泵阀工厂前期固定资产投入很大,2014 年产品尚处于研发、试制阶段,尚未大规模量产对外销售,而上述项目固定成本开支较大;子公司上海立新由于受到下游行业低迷影响以及并购后企业尚处于整合关键时期,协同效应尚未充分发挥,这些因素使得公司净利润水平出现下降。
    报告期经营活动产生的现金流量净额 25,196.42 万元,同比下降 0.04%,与上年相比变化不大。为实现有质量的经营,公司重视风险控制工作和现金流管理,全年坚持适度从紧的销售政策,同时由于公司实施重大科技创新项目政府拨付我及时到位,因此全年在营业收入、利润出现下降的情况下,经营活动产生的现金流量净额变化不大,现金流质量很高。
    报告期内,公司在产品研发、市场开拓、质量管理、人才培养、品牌建设等各项管理工作取得较大提升,保证了公司的竞争优势。(1)在产品研发方面,公司紧紧把握行业技术发展趋势以及客户需求的变化,坚持应用型研究和前瞻性研究相结合的管理理念,在持续改进和升级现有主导产品的同时,加大新产品和新技术的研发投入力度,打破国外对相关液压技术的垄断。
    挖掘机油缸新品开发方面,在不断拓展国内主机厂新机型油缸的同时,还开发了外资品牌 7种机型。
    特种油缸新品开发方面,不断加大投入,公司全年共设计新图纸 2681 套,新方案 3470 份,新图总张数达 24177 张。特种油缸覆盖的行业范围不断扩大,特别是海事、盾构机、汽车吊行业尤为突出,如:浮式海上钻井平台:钻杆升降补偿装置、隔水套管张紧装置、天然气压缩油缸、石油钻机井架起升及伸缩油缸、汽车吊机油缸等。全年承担了多项重大项目,主要有:1800T 架桥机项目、1000T 自升式风电安装船油缸 400 尺平台项目,TBM 硬岩盾构项目、东京 16m 盾构项目等。目前,公司已成为全球盾构机油缸研制领军企业。
    精密铸件研发方面,全年度公司新开发产品共计 257 种,截至 2014 年,累计开发产品合计462 种,产品涵盖端盖、导向套、球铁棒类、传动件、组合壳体等;2014 年度铸件产出数量为 34万件,同比增长 35.42%。
    液压阀方面,相关液压挖掘机用多路阀已经完成台架性能测试、脉冲测试、主机搭载测试及产品优化改进,获得授权国家发明专利 1 项,实用新型专利 10 余项,通过自主研发成功打破国外对挖掘机高性能液压阀核心技术的垄断,目前主机搭载性能、复合操控性能、油耗、效率相关技术参数已经达到或超越同类外国品牌产品水平。
    液压泵方面,完成多型号图纸设计、台架性能测试及台架耐久测试,,并在相关挖掘机主机厂完成样机装机性能测试和寿命考核,性能参数已得到客户认可;HLPV80 泵取得相关专利,同时开始在其它工程配套领域拓展。
    (2)在市场开拓方面,公司不断加强销售人才队伍的建设,始终秉承"服务营销"的理念,确立配套直销的销售模式,依托优质的产品和售后服务,将进入主机厂的供应商体系作为销售工作的核心;同时积极参加各种行业展会,不断拓展新的客户群。目前,公司在内资挖掘机品牌方面保持了较高的市场占有率;特种油缸覆盖的行业范围不断扩大,特别是盾构机、海事、汽车吊行业尤为突出;在外资品牌方面,公司通过在海外设立的子公司,不断积累、拓展客户群,在维持欧洲市场现有需求的同时,重点开拓日本与北美市场。
    (3)在质量管理方面,系统性地梳理质量管理模式,以全员参与、全过程参与的全面质量管理模式来寻找、封堵质量工作中的漏洞;加强员工的标准化作业培训,减少因为员工操作中的过失而导致的质量损失;跟踪市场质量反馈信息,不断采取改进措施,努力提高产品质量。
    (4)在人才培养方面,公司不断完善并发展人力资源管理体系建设。根据公司发展需要,坚持“以人为本,关注员工发展需求,赛马不相马,帮助员工成功”的用人理念,不断引入各类优秀人才。在晋升通道方面,公司通过管理岗位外灵活设置更多的助理、担当等职位,让符合晋升条件的员工在这些职位上进行过渡,享受等同于主管、经理等管理岗位的待遇,并为其制定管理岗位的专门培养方案。在薪酬绩效方面,公司在加强绩效考核管理的同时,通过提供车补、房补、节日礼品、结婚礼金等其他福利方式大幅提升员工整体薪酬福利水平和幸福满意度,有效地吸引和留住了高素质人才。
    (5)在品牌建设方面,公司在保持主业产品业绩稳定、产品市场占有率不断提升的同时,不断坚持高端定位,重视品牌建设, 2014 年度,公司获得了卡特彼勒公司 SQEP 银奖的认证,获得了杭州神钢、三一集团、广西柳工、山河智能、住友建机等公司的优秀供应商称号。通过不断开拓国外客户以及股票标的沪港通带来的国际化平台机遇,让客户因为产品质量而了解、相信公司,让国内外投资者因为资本市场而更好的了解、宣传公司,为成为“走向世界,引领行业,成为全球领先的液压系统集成服务商第一品牌”而不断努力。(一) 主营业务分析
    1   利润表及现金流量表相关科目变动分析表
                                                                  单位:元 币种:人民币
               科目                   本期数           上年同期数      变动比例(%)
    营业收入                         1,093,289,087.66   1,229,739,895.36           -11.10
    营业成本                           824,296,072.38     809,032,179.09              1.89
    销售费用                            53,548,406.12      42,196,141.36             26.90
    管理费用                           172,059,677.95     169,562,316.64              1.47
    财务费用                            -7,582,916.08     -19,905,246.91             61.90
    经营活动产生的现金流量净额         251,964,181.46     253,084,569.98             -0.44
    投资活动产生的现金流量净额        -469,898,246.87    -784,876,532.02             40.13
    筹资活动产生的现金流量净额         -59,523,166.97     -94,287,279.00             36.87
    研发支出                            69,267,486.15      70,750,012.37             -2.10
    2       收入(1) 驱动业务收入变化的因素分析油缸产品销售对比
                                  2014 年                          2013 年
        产品
                       数量(只)        金额(元)       数量(只)        金额(元)
    挖掘机专用油缸        142,634      558,906,244.16      175,318       750,090,533.73
    重型装备用非标油缸       47,124      415,151,706.73      42,908        326,878,946.202014 年度,由于国内工程机械装备市场持续不振,同时公司加强信用风险控制,导致公司挖机油缸销售数量下降 18.64%,销售收入下降 25.49%;同时公司积极开拓其它领域市场,重型装备用非标油缸的销售数量同比上升 9.83%,销售收入上升 27.00%。(2) 以实物销售为主的公司产品收入影响因素分析
    产品                                2014 年                       2013 年
                          产量    销量      库存      产量        销量        库存
    挖掘机专用油缸(只)      142,236 142,634     25,963    184,652     175,318     26,361
    重型装备用非标油缸(只) 49,330      47,124    9,132     44,975      42,908      6,926期末有部分未提货油缸,公司年末非标油缸产成品库存较同期增加。(3) 订单分析
    产品                            年初订单                  本年新增订单            年末订单
                      订单金额(万 销售金额(万 订 单 金 额 销 售 金 额           订单金额
                      元)            元)          (万元)      (万元)        (万元)
    挖掘机专用油缸            21,366.48       21,366.48   50,010.66     34,524.14       15,486.52
    重型装备用非标油缸         8,520.34        8,520.34   41,515.32     32,994.83        9,995.12本年挖掘机专用油缸新增订单较去年下降,而非标油缸订单较去年增长。(4) 主要销售客户的情况前五大客户
    序号      客户名称
    1         Caterpillar_Ltd
    2         三一集团有限公司
    3         广西柳工集团有限公司
    4         徐工集团工程机械有限公司
    5         中铁工程装备集团有限公司公司对前五大客户 2014 年度累计销售收入 50,415 万元,占总收入比例为 46.13%, 占母公司销售收入比例为 50.42%。
    3     成本(1) 成本分析表
                                                                                        单位:元
                                            分行业情况
                                                                            本期金
                                                                  上年同
                                       本期占                               额较上
             成本构                                               期占总                        情况
    分行业               本期金额      总成本     上年同期金额              年同期
             成项目                                               成本比                        说明
                                       比例(%)                              变动比
                                                                  例(%)
                                                                            例(%)
    机械装备     原材料                                                                       产量下降,原材
                      467,505,000.68   58.47%    495,146,872.63    61.68    -5.58%
    制造业                                                                                    料消耗下降
             直接人                                                                       铸件等项目投
             工                                                                           产,人员增加,
                      89,001,103.65    11.13%     86,073,737.88    10.73        3.40%
                                                                                          人工总成本上
                                                                                          升
             制造费                                                                       铸件等项目投
             用       243,010,035.65   30.39%    221,509,660.61    27.59        9.71%     产,折旧、能源
                                                                                          成本上升
                                            分产品情况
                                                                            本期金
                                                                  上年同
                                       本期占                               额较上
             成本构                                               期占总                        情况
    分产品               本期金额      总成本     上年同期金额              年同期
             成项目                                               成本比                        说明
                                       比例(%)                              变动比
                                                                  例(%)
                                                                            例(%)
                                                                                          产量下降,原材
             原材料   237,735,097.88   59.21%    289,506,253.52    61.53    -17.88%
                                                                                          料消耗下降
    挖掘机专                                                                                  产量下降,用人
             直接人
    用油缸                41,877,673.89    10.43%     50,184,901.14    10.67    -16.55%       减少,人工成本
               工
                                                                                          下降
             制造费   121,898,962.54   30.36%    130,841,963.81     27.8    -6.83%        产量下降,相应
             用                                                                   机物料维修费
                                                                                  下降
           原材料                                                                 产销量上升较
                     193,663,083.52   58.14%   139,117,528.24   58.87    39.21%   多,材料消耗上
                                                                                  升
           直接人                                                                 产销量上升较重型装备
           工        35,641,468.76    10.70%    28,280,840.66   11.97    26.03%   多,人工成本上非标油缸
                                                                                  升
           制造费                                                                 产量上升,相应
           用        103,793,286.60   31.16%    68,912,152.13   29.16    50.62%   机物料维修费
                                                                                  上升
           原材料                                                                 液压元器件产
                                                                                  品品种结构调
                     33,799,126.97    54.74%    59,058,637.94   66.79   -42.77%
                                                                                  整,液压成套系
                                                                                  统下降较多液压元器
           直接人                                                                 产量虽然下降,件及成套
           工        10,712,730.23    17.35%    7,607,996.08     8.6     40.81%   但上调工资,人
    装置
                                                                                  工成本上升
           制造费                                                                 产量下降,相应
           用        17,232,985.63    27.91%    21,755,544.68   24.61   -20.79%   机物料维修费
                                                                                  下降
           原材料                                                                 恒立液压试产
                      2,307,692.31    72.99%                                      产品,上年无产
                                                                                  品
           直接人                                                                 恒立液压试产
    液压泵阀   工          769,230.77     24.33%                                      产品,上年无产
                                                                                  品
           制造费                                                                 恒立液压试产
           用          84,800.88      2.68%                                       产品,上年无产
                                                                                  品(2) 主要供应商情况前五大供应商
    序号    供应商名称
    1       石家庄钢铁有限责任公司
    2       天津钢管钢铁贸易有限公司
    3       常州市雅浦锻件有限公司
    4       佛山市泰臣贸易有限公司
    5       特瑞堡密封系统(中国)有限公司公司 2014 年度前五大供应商采购金额为 12,004 万元, 占总采购额的比例为 24.84%。
    4   费用
      费用项目          2014 年(元)         2013 年(元)         增减(%)
      销售费用               53,548,406.12        42,196,141.36               26.90
      管理费用              172,059,677.95       169,562,316.64                1.47
      财务费用               -7,582,916.08       -19,905,246.91               61.90销售费用上升主要是由于主要原因是本年出口较上年同期增加,相应的出口运保费增加以及进出口所承担的代理、商检等费用增加。财务费用的上升主要是存款利息收入下降,液压泵阀项目投入较大,银行存款减少导致利息收入减少所致。
    5     研发支出(1) 研发支出情况表
                                                                              单位:元
    本期费用化研发支出                                                        69,267,486.15
    研发支出合计                                                              69,267,486.15
    研发支出总额占净资产比例(%)                                                      1.99
    研发支出总额占营业收入比例(%)                                                    6.34(2) 情况说明
            项目                      2014 年                     2013 年
    研发费用金额(元)                     69,267,486.15               70,750,012.37
    占净资产比例(%)                               1.99                        2.04
    占营业收入比例(%)                             6.34                        5.75本年度研发费用主要用于特大型挖掘机专用油缸及工程装备用非标油缸的研发、挖掘机用主阀、高压柱塞泵等液压元件和高精密铸件的研发,目前已取得阶段性成果,挖掘机主阀已进入样品测试阶段。
    6     现金流
            现金流项目               2014 年度(元)    2013 年度(元)    增减(%)
    经营活动产生的现金流量净额          251,964,181.46      253,084,569.98       -0.44
    投资活动产生的现金流量净额         -469,898,246.87     -784,876,532.02       40.13
    筹资活动产生的现金流量净额           -59,523,166.97     -94,287,279.00       36.87
    汇率变动对现金及现金等价物的影响          -7,478,249.17      -3,939,210.22     -89.842014 年度为实现有质量的经营,公司重视风险控制工作和现金流管理,全年坚持适度从紧的销售政策,同时由于公司实施重大科技创新项目政府拨付相关经费及时到位,经营活动产生的现金流质量大幅提升。投资活动产生的现金流量变化主要系:本年度处置子公司收到的现金流入,以及提高资金利用效率,投资保本理财项目的收益也有所增加。筹资活动产生的现金流量变化主要系:子公司新增银行借款增加引起。
    7     其他
    (1)     公司利润构成或利润来源发生重大变动的详细说明1、公司 2014 年度经营利润较同期下降 17,728 万元,主要是由于产品毛利下降 15,171 万元和期间费用上升 2,617 万元所致。2、非经常性损益较同期增加 2,683 万元,由于公司处置智锐精密股权合并报表后增加收益 1,256万元,2014 年政府补助奖励等同比增加 1,317 万元。
    (2)     发展战略和经营计划进展说明根据公司《五年发展规划纲要(2013-2017 年)》,公司力争通过五年左右时间的努力,成为国内一流、世界知名的高端液压设备供应商和液压技术方案的提供商。高精密液压铸件项目已实现批量化生产,恒立液压项目厂房已封顶,设备陆续到位,安装调试,同时新产品液压泵、液压阀在试制之中,试制产品性能达到或超过同类产品。受国内宏观经济形势的影响,2014 年公司营业收入下降没实现年初制定的营收增长目标,但整体好于行业平均水平。(二) 行业、产品或地区经营情况分析1、 主营业务分行业、分产品情况
                                                                          单位:元    币种:人民币
                                      主营业务分行业情况
                                                             营业收入     营业成本    毛利率比
                                                    毛利率
    分行业        营业收入          营业成本                 比上年增     比上年增    上年增减
                                                    (%)
                                                             减(%)      减(%)       (%)
    机械装备                                                                              减少 9.80
               1,083,798,489.14   819,689,461.79     24.37     -11.57       1.61
    制造业                                                                                个百分点
                                      主营业务分产品情况
                                                             营业收入     营业成本    毛利率比
                                                    毛利率
    分产品        营业收入          营业成本                 比上年增     比上年增    上年增减
                                                    (%)
                                                             减(%)      减(%)       (%)
    挖掘机专                                                                              减 少 8.58
               558,906,244.16     401,511,734.31    28.16%     -25.49      -15.39
    用油缸                                                                                个百分点
    重型装备                                                                                减少 7.94
    用非标准       415,151,706.73     333,097,838.88    19.76%     27.00       40.96        个百分点油缸
    元件与液                                                                              减少 12.87
    压成套装        79,850,381.80     61,744,842.83     22.67%     -41.80      -30.17       个百分点置
    油缸配件                                                                              减少 11.83
                26,044,002.60     20,173,321.81     22.54%    128.99       170.26
                                                                                        个百分点
    液压泵阀        3,846,153.85    3,161,723.96     17.80%       100        100本期毛利率下降主要原因:营业收入下降 11.57%,原材料消耗下降 5.58%,但直接人工上升 3.40%,制造费用上升 9.71%。主要原因系高精密铸件项目全部转固,折旧费用同比大幅增加,但目前产能利用率不高(主要为液压项目配套);液压项目尚处于试制阶段,未大规模对外销售;上海立新收入下降,但上调人员工资导致人工成本上升,以及重型装备非标油缸产品结构和客户结构变化带来影响。2、 主营业务分地区情况
                                                                单位:元 币种:人民币
            地区                      营业收入              营业收入比上年增减(%)
    国内销售                                    845,504,729.95                      -18.12
    国外销售                                    238,293,759.19                        23.55受国内工程机械装备行业不景气的影响,国内销售下降 18.12%,公司加强了国外市场的开拓,出口销售较同期上升 23.55%。(三) 资产、负债情况分析
    1     资产负债情况分析表
                                                                                       单位:元
                                  本期期                     上期期     本期期
                                  末数占                     末数占     末金额
    项目名称      本期期末数      总资产       上期期末数    总资产     较上期       情况说明
                                  的比例                     的比例     期末变
                                  (%)                      (%)      动比例
                                                                (%)
                                                                         泵阀项目投入
    货币资金     436,255,858.46   10.75   704,899,536.12   18.29   -38.11
                                                                         资金较多
                                                                         销售回笼承兑
    应收票据     191,775,113.75   4.72    143,403,628.57   3.72    33.73
                                                                         汇票结算增加
                                                                         本公司 2013 年
                                                                         预付款项已于
    预付款项     28,971,553.03    0.71    202,195,850.35   5.25    -85.67
                                                                         2014 年到货转
                                                                         销
                                                                         定期存款及购
    应收利息      1,373,650.34    0.03     4,115,398.71    0.11    -66.62   买的理财产品
                                                                         减少
                                                                         缴纳的土地竣
    其他应收款     7,101,547.87    0.17     5,436,435.98    0.14    30.63    工履约保证金
                                                                         金额较大
                                                                         泵阀项目陆续
    在建工程     452,320,181.05   11.14   282,908,724.97   7.34    59.88
                                                                         购买设备安装
                                                                         收 购 德 国
    商誉        879,430.99      0.02          -            -     100.00   WACO 公司形
                                                                         成
    递延所得税                                                               上海立新亏损
               6,085,145.19    0.15     9,262,763.79    0.24    -34.31
    资产                                                                   所致
                                                                         恒立液压向建
    短期借款     40,000,000.00    0.99          -            -     100.00
                                                                         行贷款
                                                                         较多采用票据
    应付票据     45,089,000.00    1.11    25,324,525.00    0.66    78.04
                                                                         支付材料款
                                                                         与供应商的结
    应付账款     195,575,730.71   4.82    142,064,622.54   3.69    37.67
                                                                         算期间变长
                                                                         恒立液压新增
    应付利息       12,000.00                    -            -     100.00
                                                                         贷款的利息
                                                                         德国 WACO 公
    长期借款      8,366,773.49    0.21      3,000,000      0.08    178.89
                                                                         司贷款
                                                                         政府补助比上
    递延收益     180,726,673.45   4.45    113,483,651.63   2.94    59.25
                                                                         年大幅增加
    递延所得税                                                               上海立稀注销
                 5,803.94               255,658.17      0.01    -97.73
    负债                                                                   所致(四) 核心竞争力分析
    公司在核心技术和创新能力、品牌知名度和客户资源、管理模式和人才建设方面有着较为突出的竞争优势,并形成了较强的核心竞争力。
    1、核心技术和创新能力
    公司为国家级高新技术企业,为国内少数几家系统性掌握挖掘机专用液压油缸制造技术企业和重型装备用特种液压油缸制造企业,打破国外品牌对该行业的垄断,实现了进口替代,并保持较高市场占有率。
    公司以“生产一代、储备一代、研发一代”的理念,指导公司的创新工作。建立有江苏省唯一的超高压油缸研究中心,并在日本、德国和美国设立了研发机构。研发创新工作与全球液压系统研发保持同步,不断提升产品竞争力。
    2、品牌知名度和客户资源
    “恒立”品牌和“立新”品牌在液压行业具有较高知名度和市场声誉。依靠产品质量的稳定性与可靠性以及“先进服务促合作”的售后服务理念,获得了深厚的客户资源。
    国内工程机械领域优秀上市公司包括三一、柳工、徐工、中铁等,以及国际著名企业卡特彼勒、神钢、挪威 TTS 集团等为公司主要客户。
    3、管理模式和人才建设
    公司以生产和技术为核心,工作权责直接划分到团队,单部门负责、多部门协助并相互监督,确保了管理的高效与执行力。
    在管理团队建设方面,根据“能者上”的竞争原则,加强对工作能力、创新能力突出的员工进行内外部培训,适时提拔。加快人才国际化进程,从国外引进一批液压领域的国际知名专家加盟,同时强化自身研发人员培养,进军液压泵阀领域。(五) 投资状况分析1、 对外股权投资总体分析报 告 期 内 , 公 司 累 计 对 外 股 权 投 资 总 额 为 242,419,511.90 元 , 比 上 年 对 外 股 权 投 资 总 额431,649,828.00 减少了 43.84%。主要原因是 1)本年度对恒立液压投资比上年减少 1.08 亿元;2)上年对上海立新投资 1.72 亿元。本年度主要投资活动包括其中:(1)收购德国 WACO 公司 51%的股权
      注册资本:15.00 万欧元。
      公司在被投资单位的持股比例:51%。
      经营范围:液压油缸、液压泵和相似类型的零部件、金属加工业产品的生产、销售、研发与维修。(2)增加对恒立液压的投资,对恒立液压的出资比例调整为 98%。
      注册资本:60,000.00 万元。
      公司在被投资单位的持股比例:98%。
      经营范围:液压机械科技研发,液压元件、液压阀、液压泵、液压马达、液压总成、液压机械装备、液压船舶的制造、农机液压机械、成套液压系统、航空液压件、铁路车辆液压件等生产与相关技术支持服务;机械零部件制造,销售自产产品。
    2、 非金融类公司委托理财及衍生品投资的情况
    (1) 委托理财情况
                                                                                                                               单位:元 币种:人民币
                                                                                                                               是     计
                                                                                                                               否     提 是
                                                                                                                                                   资金来
                                                                                                                               经     减 否 是
                                                                          报酬                                                                     源并说
    合作方名   委托理财产品类                      委托理财     委托理财                           实际收回本金金                  过     值 关 否
                              委托理财金额                                确定      预计收益                    实际获得收益                       明是否
    称             型                            起始日期     终止日期                                 额                        法     准 联 涉
                                                                          方式                                                                     为募集
                                                                                                                               定     备 交 诉
                                                                                                                                                     资金
                                                                                                                               程     金 易
                                                                                                                               序     额
    平安银行   卓越计划滚动型                      2013 年 11   2014 年 2     按   实                                              是        否   否 募集资
           AGS131430保本理    200,000,000.00   月4日        月7日         际   收              200,000,000.00   2,082,191.78                       金
           财                                                             益   计
    建行鸣凰   “乾元”保本型理                    2013 年 11   2014 年   3   算   报                                              是        否   否   非募   集
                              20,000,000.00                                                     20,000,000.00    383,342.47
    支行       财                                  月8日        月20日        酬                                                                       资金
    鸣凰建行   “乾元”保本型理                    2013 年 12   2014 年   3                                                        是        否   否   非募   集
                              30,000,000.00                                                     30,000,000.00    441,205.48
           财                                  月6日        月4日                                                                                  资金
    鸣凰建行   “乾元”保本型理                    2013 年 12   2014 年   1                                                        是        否   否   非募   集
                              20,000,000.00                                                     20,000,000.00    103,452.05
           财                                  月6日        月7日                                                                                  资金
    建行鸣凰   “乾元”保本型理                    2013 年 12   2014 年   3                                                        是        否   否   非募   集
                              30,000,000.00                                                     30,000,000.00    455,671.23
    支行       财                                  月20日       月18日                                                                                 资金
    建行鸣凰   “乾元”保本型理                    2014 年 1    2014 年   2                                                        是        否   否   非募   集
                              50,000,000.00                                                     50,000,000.00    325,890.41
    支行       财                                  月3日        月11日                                                                                 资金
    建行鸣凰   “乾元”保本型理                    2014 年 1    2014 年   2                                                        是        否   否   非募   集
                              20,000,000.00                                                     20,000,000.00    104,876.71
    支行       财                                  月23日       月25日                                                                                 资金
    建行鸣凰   “乾元”保本型理                    2014 年 2    2014 年   3                                                        是        否   否   募集   资
    支行(专   财                 154,000,000.00   月14日       月27日                             154,000,000.00    899,528.77                        金户)
    建行鸣凰   “乾元”保本型理                    2014 年 2    2014 年 3                                                          是        否   否   非募集
                              80,000,000.00                                                     80,000,000.00    467,287.67
    支行       财                                  月14日       月27日                                                                                 资金
    建行鸣凰   “乾元”保本型理                    2014 年 2     2014 年 4     按   实                                   是   否   否   非募集
                              20,000,000.00                                          20,000,000.00     94,027.40
    支行       财                                  月28日        月2日         际   收                                                  资金
    建行鸣凰   “乾元”保本型理                    2014 年 4     2014 年 6     益   计                                   是   否   否   募集资
    支行(专   财                 154,900,000.00   月2日         月26日        算   报   154,900,000.00   1,810,844.66                  金
    户)                                                                       酬
    中国银行   人民币“按期开                      2014 年   3   2014 年   5                                             是   否   否   非募   集
                              80,000,000.00                                          80,000,000.00    557,589.04
    武进支行   放”理财产品                        月28日        月20日                                                                 资金
    建行鸣凰   “乾元”保本型理                    2014 年   4   2014 年   5                                             是   否   否   非募   集
                              30,000,000.00                                          30,000,000.00    152,260.27
    支行       财                                  月4日         月13日                                                                 资金
    中国银行   人民币“按期开                      2014 年   4   2014 年   6                                             是   否   否   非募   集
                              20,000,000.00                                          20,000,000.00    115,397.26
           放”理财产品                        月30日        月23日                                                                 资金
    中国银行   人民币“按期开                      2014 年   4   2014 年   6                                             是   否   否   非募   集
                              60,000,000.00                                          60,000,000.00    346,191.78
    武进支行   放”理财产品                        月30日        月23日                                                                 资金
    广发银行   “广赢安薪”保本                    2014 年   5   2014 年   8                                             是   否   否   非募   集
                              30,000,000.00                                          30,000,000.00    336,575.34
    常州分行   理财                                月16日        月15日                                                                 资金
    上海银行   “赢家”保本保收                    2014 年   6   2014 年   7                                             是   否   否   非募   集
                               6,000,000.00                                           6,000,000.00     28,479.45
           益理财                              月11日        月14日                                                                 资金
    工商银行   挂钩汇率双边不                      2014 年   6   2014 年   9                                             是   否   否   非募   集
    武进支行   触型法人人民币                      月13日        月9日                                                                  资金
                              20,000,000.00                                          20,000,000.00    241,095.89
           结构性理财(保本
           浮动收益型)
    建行鸣凰   “乾元”保本型理                    2014 年 6     2014 年 8                                               是   否   否   非募集
                              100,740,000.00                                         100,740,000.00   482,227.20
    支行       财                                  月28日        月11日                                                                 资金
    中国银行   人民币“按期开                      2014 年 6     2014 年 8                                               是   否   否   非募集
                              60,000,000.00                                          60,000,000.00    453,698.63
    武进支行   放”理财产品                        月30日        月29日                                                                 资金
    工商银行   挂钩汇率双边不                      2014 年 7     2014 年 10                                              是   否   否   非募集
    武进支行   触型法人人民币                      月3日         月9日                                                                  资金
                              20,000,000.00                                          20,000,000.00    252,383.56
           结构性理财(保本
           浮动收益型)
    建行鸣凰   乾元保本型理财                      2014 年 7     2014 年 10                                              是   否   否   募集资
    支行(专   产品                6,000,000.00    月10日        月12日                   6,000,000.00     66,443.84                    金户)
    上海银行   “赢家”保本保收                    2014 年   7   2014 年 9    按   实                                             是   否   否   非募   集
                               6,000,000.00                                                      6,000,000.00    27,014.79
           益理财                              月30日        月1日        际   收                                                            资金
    建行鸣凰   乾元保本型理财                      2014 年   8   2014 年 9    益   计                                             是   否   否   非募   集
                              101,200,000.00                                                    101,200,000.00   375,133.15
    支行       产品                                月14日        月18日       算   报                                                            资金
    广发银行   “广赢安薪”保本                    2014 年   8   2014 年 11   酬                                                  是   否   否   非募   集
                              30,000,000.00                                                     30,000,000.00    381,452.05
    常州分行   理财                                月19日        月18日                                                                          资金
    中国银行   人民币“按期开                      2014 年   9   2014 年 9                                                        是   否   否   非募   集
                              20,000,000.00                                                     20,000,000.00    11,056.85
    武进支行   放”理财产品                        月5日         月12日                                                                          资金
    工商银行   工行掉期通                          2014 年   9   2014 年 10                                                       是   否   否   非募   集
                              20,000,000.00                                                     20,000,000.00    83,881.81
    武进支行                                       月16日        月15日                                                                          资金
    工商银行   工行掉期通                          2014 年   9   2014 年 10                                                       是   否   否   非募   集
                              30,000,000.00                                                     30,000,000.00    135,226.79
    武进支行                                       月19日        月20日                                                                          资金
    建行鸣凰   存汇盈2号产品                       2014 年   9   2014 年 12                                                       是   否   否   非募   集
                              69,999,999.99                                                     69,999,999.99    735,672.19
    支行                                           月22日        月22日                                                                          资金
    建行鸣凰   乾元保本型理财                      2014 年   9   2014 年 12                                                       是   否   否   募集   资
    支行(专   产品                1,000,000.00    月30日        月18日                              1,000,000.00     9,631.51                   金户)
    中国银行   人民币“按期开                      2014 年 9     2014 年 10                                                       是   否   否   非募集
                              50,000,000.00                                                     50,000,000.00    76,027.40
    武进支行   放”理财产品                        月30日        月15日                                                                          资金
    上海银行   “赢家”保本保收                    2014 年 10    2014 年 11                                                       是   否   否   非募集
                               5,000,000.00                                                      5,000,000.00    21,260.27
           益理财                              月9日         月10日                                                                          资金
    建行鸣凰   乾元保本型理财                      2014 年 10    2015 年 1                                                        是   否   否   募集资
    支行(专   产品                6,710,000.00    月14日        月11日                 73,626.16                                                金户)
    工商银行   工行掉期通                          2014 年 10    2014 年 11                                                       是   否   否   非募   集
                              45,000,000.03                                                     45,000,000.03    191,270.20
    武进支行                                       月17日        月17日                                                                          资金
    工商银行   工行掉期通                          2014 年 10    2014 年 11                                                       是   否   否   非募   集
                              30,000,000.02                                                     30,000,000.02    106,700.56
    武进支行                                       月22日        月17日                                                                          资金
    中国银行   理财产品                            2014 年 10    2014 年 11                                                       是   否   否   非募   集
                              50,000,000.00                                                     50,000,000.00    180,821.92
    武进支行                                       月24日        月25日                                                                          资金
    工商银行   工行掉期通                          2014 年 11    2014 年 11                                                       是   否   否   非募   集
                              45,000,000.02                                                     45,000,000.02    42,627.53
    武进支行                                       月17日        月24日                                                                          资金
    工商银行   工行掉期通                         2014 年 11   2014 年 11   按   实                                            是   否   否   非募   集
                              30,000,000.01                                                    30,000,000.01   28,418.35
    武进支行                                      月17日       月24日       际   收                                                           资金
    上海银行   “赢家”保本保收                   2014 年 11   2014 年 12   益   计                                            是   否   否   非募   集
                              5,000,000.00                                                     5,000,000.00    21,020.55
           益理财                             月19日       月22日       算   报                                                           资金
    工商银行   工行掉期通                         2014 年 11   2014 年 11   酬                                                 是   否   否   非募   集
                              30,000,000.01                                                    30,000,000.01   28,426.10
    武进支行                                      月19日       月26日                                                                         资金
    交通银行   理财产品                           2014 年 12   2015 年 3                                                       是   否   否   非募   集
                              50,000,000.00                                       655,342.47
    武进支行                                      月4日        月6日                                                                          资金
    建行鸣凰   存汇盈理财产品                     2014 年 12   2015 年 1                                                       是   否   否   非募   集
                              30,000,000.00                                       130,200.16
    支行                                          月9日        月9日                                                                          资金
    工商银行   工行掉期通                         2014 年 12   2015 年 1                                                       是   否   否   非募   集
                              20,000,000.00                                       88,377.10
    武进支行                                      月15日       月15日                                                                         资金
    上海银行   “赢家易精灵”理                   2014 年 12   2015 年 1                                                       是   否   否   非募   集
                              1,000,000.00                                         4,257.33
           财产品                             月15日       月21日                                                                         资金
    上海银行   “赢家易精灵”理                   2014 年 12   2015 年 2                                                       是   否   否   非募   集
                               200,000.00                                          1,357.74
           财产品                             月15日       月12日                                                                         资金
    上海银行   “赢家易精灵”理                   2014 年 12   2015 年 3                                                       是   否   否   非募   集
                               600,000.00                                          5,384.95
           财产品                             月15日       月3日                                                                          资金
    上海银行   “赢家易精灵”理                   2014 年 12   2015 年 3                                                       是   否   否   非募   集
                               200,000.00                                          2,140.17
           财产品                             月15日       月18日                                                                         资金
           “赢家易精灵”理                   2014 年 12   2015 年 3                                                                      非募   集
    上海银行                       100,000.00                                          1,093.10                                是   否   否
           财产品                             月 15 日     月 20 日                                                                       资金
           “赢家易精灵”理                   2014 年 12   2015 年 3                                                                      非募   集
    上海银行                      1,300,000.00                                        14,659.03                                是   否   否
           财产品                             月 15 日     月 23 日                                                                       资金
    建行鸣凰                                      2014 年 12   2015 年 1                                                                      非募   集
           存汇盈理财产品     70,000,000.00                                       320,832.76                               是   否   否
    支行                                          月 22 日     月 22 日                                                                       资金
           “赢家易精灵”理                   2014 年 12   2015 年 3                                                                      非募   集
    上海银行                      4,800,000.00                                        58,544.06                                是   否   否
           财产品                             月 23 日