摘要：近年来，环境问题随着经济的发展而日益加剧。在国家政策的推动下，我国节能环保产业逐渐成为拉动经济增长的重要力量。与此同时，节能环保型上市公司亦在不断发展壮大，对节能环保型上市公司进行全面、合理的盈利质量分析，不但可以为投资者、债权人、管理者及相关利益者做出正确决策提供重要依据，还可以帮助管理者了解公司经营过程中存在的问题，提出改善这些问题的对策，提高公司整体盈利水平。本文通过对我国节能环保型上市公司进行盈利质量分析，总结出我国节能环保型上市公司在盈利质量方面盈利能力、盈利的安全性和成长性较差，现金保障性较好，盈利持续稳定性一般的共性和特征。并以中材节能股份有限公司为案例，发现影响其盈利质量的因素以及在盈利质量方面存在的问题。根据这些问题，提出提高节能环保型上市公司盈利质量的建议及对策。74089

毕业论文关键词：  盈利质量；节能环保；盈利能力

Analysis on the Profit Quality of Energy - saving and Environment - friendly Listed Companies----Take Sinoma Energy Co。, Ltd。 as an example

Abstract：In recent years, environmental problems have been increasing with economic development。 In the national policy, driven by China's energy conservation and environmental protection industry has gradually become an important force to stimulate economic growth。 At the same time, energy-saving environment-friendly listed companies are also growing and growing, energy-saving environment-friendly listed companies to conduct a comprehensive and reasonable analysis of profitability, not only for investors, creditors, managers and stakeholders to make the right decision to provide important Basis, but also can help managers understand the problems in the course of the company, put forward the improvement of these problems, improve the company's overall profitability。 This paper analyzes the profitability of China's energy-saving and environment-friendly listed companies, and draws the profitability of profit-making and environment-friendly listed companies in China。 The profitability and profitability of profitability are poor, the cash security is good and the profitability is stable。 And to Sinoma Energy Co。, Ltd。 as a case, found the factors that affect the quality of its profitability and the quality of the existence of the problem。 Based on these problems, the paper puts forward suggestions and countermeasures to improve the profitability of energy - saving and environment - friendly listed companies。

KeyWords：Profit quality; Energy saving and environmental protection; Profitability

目  录

引言 1

一、节能环保型上市公司盈利质量分析理论基础 2

（一）盈利质量概念 2

（二）节能环保型上市公司概念 2

二、我国节能环保型上市公司产业及财务特征 3

（一）我国节能环保产业特征 3

1、产业规模不断扩大 3

2、政策导向性强 3

3、高新技术需求大 3

4、产业关联度高 4

（二）我国节能环保型上市公司财务特征 4

1、股权高度集中 4

2、应收账款占比高 4

3、流动负债率高