1、07上07下08上08下09上09下亩序号物业定位、规划设计99.880513137.86214.67%120.64524.09%4.09%79.32753101.475488.228557.18%91.0395646.752746.752890.306985.963510115.97251199.1365121203.341建设比例4.09%4.09%7.18%4.67%建筑面积983319.8402154021570582.8图例开发开发、销售销售开发时序图例正开发待开发已开发08年131234567 8910111209年131213345367 8961011121010年1312132、345367 8961011101011年131213345367 8961011121012年131213345367 8961011121013年131213345368961011121014年131213345368961011121011年10上10下11上11下12上12下13上13下14上6.77%4.67%6.45%8.26%9.26%4.75%9.18%11.79%10.08%4.67%8.26%6.77%6.45%9.18%10.08%4.75%11.79%9.26%45954459548118066587634629030699136.546752 115972.51243、57 89111012457 89111212457 89111212457 8911121245891112124589111214下15上8.74%8.74%0.00%100.00%91039.585963.5基基础础指指标标表表地块序号占地面积亩规划容积率规划建筑面积权属1366,58799.881.066,587191,908137.861.091,908海南成燕280,430120.651.080,430海南成燕352,88579.331.263,462海南成燕467,650101.481.281,180海南成燕558,81988.231.270,583海南成燕660,69391.04、41.591,040 海南燕成731,16846.750小学831,16846.751.546,752960,20490.311.590,306海南成燕1057,30985.961.585,964 海南燕成1177,315115.971.5115,973海南成燕1266,09199.141.599,137海南成燕小小计计802,227802,2271,2031,203983,320983,3202.2567.511.25独栋（0.3)联排(0.8)多层(1.0)（小）高层(1.5)商业总建筑面积04,80061,7870066,58704,80087,1080091,9086,0007,2005、13,00054,230080,43007,20026,00011,45218,81063,46207,20039,00016,17018,81081,18007,20039,0005,57318,81070,58300072,23018,81091,040000037,3479,40546,75200071,49618,81090,30600085,964085,964000115,9730115,97300099,137099,1376,00038,400265,895569,571103,454983,3202 2号号地地块块独独栋栋（0.3)0.3)联联排排(0.8)(0.8)多多层层6、(1.0)(1.0)（小小）高高层层(1.2)(1.2)商商业业总总计计容积率0.30.81.01.21.0套数2436100542702单套面积250200130100建筑面积600072001300054,23080,430占比3.42%5.13%14.24%77.22%0.00%100.00%占地面积20,0009,00013,00045,19287,1921 1号号地地块块独独栋栋（0.3)0.3)联联排排(0.8)(0.8)多多层层(1.0)(1.0)（小小）高高层层商商业业总总计计容积率0.30.81.01.21.0套数24670694单套面积250200130100建筑面积4807、087,10891,908占比3.46%96.54%100.00%占地面积06,00087,108093,1081313号号地地块块独独栋栋（0.3)0.3)联联排排(0.8)(0.8)多多层层(1.0)(1.0)（小小）高高层层商商业业总总计计容积率0.30.81.01.21.0套数24475499单套面积250200130100建筑面积480061,78766,587占比4.81%95.19%0.00%100.00%占地面积06,00061,787067,7873 3号号地地块块独独栋栋（0.3)0.3)联联排排(0.8)(0.8)多多层层(1.0)(1.0)（小小）高高层层商商业业总总计8、计容积率0.30.81.01.21.2套数36200115351单套面积250200130100建筑面积072002600011,45218,81063,462占比0.00%10.27%57.06%32.67%100.00%占地面积09,00026,0009,54344,5434 4号号地地块块独独栋栋（0.3)0.3)联联排排(0.8)(0.8)多多层层(1.0)(1.0)（小小）高高层层商商业业总总计计容积率0.30.81.01.21.2套数36300162498单套面积250200130100建筑面积720039,00016,17018,81081,180占比60.28%32.49%929、.77%占地面积09,00039,00013,47561,4755 5号号地地块块独独栋栋（0.3)0.3)联联排排(0.8)(0.8)多多层层(1.0)(1.0)（小小）高高层层商商业业总总计计容积率0.30.81.01.21.2套数3630056392单套面积250200130100建筑面积720039,0005,57318,81070,583占比76.58%14.23%90.81%占地面积09,00039,0004,64452,6446 6号号地地块块独独栋栋（0.3)0.3)联联排排(0.8)(0.8)多多层层(1.0)(1.0)（小小）高高层层(1.5)(1.5)商商业业总总计计容积10、率0.30.81.01.51.5套数722722单套面积250200130100建筑面积0072,23018,81091,040占比100.00%100.00%占地面积00048,15348,1538 8号号地地块块独独栋栋（0.3)0.3)联联排排(0.8)(0.8)多多层层(1.0)(1.0)（小小）高高层层(1.5)(1.5)商商业业总总计计容积率0.30.81.01.51.5套数373373单套面积250200130100建筑面积0037,3479,40546,752占比100.00%100.00%占地面积00024,89824,8989 9号号地地块块独独栋栋（0.3)0.3)联联排11、排(0.8)(0.8)多多层层(1.0)(1.0)（小小）高高层层(1.5)(1.5)商商业业总总计计容积率0.30.81.01.51.5套数715715单套面积250200130100建筑面积0071,49618,81090,306占比100.00%100.00%占地面积00047,66447,6641010号号地地块块独独栋栋（0.3)0.3)联联排排(0.8)(0.8)多多层层(1.0)(1.0)（小小）高高层层(1.5)(1.5)商商业业总总计计容积率0.30.81.01.51.5套数860860单套面积250200130100建筑面积0085,96485,964占比100.00%1012、0.00%占地面积00057,30957,3091111号号地地块块独独栋栋（0.3)0.3)联联排排(0.8)(0.8)多多层层(1.0)(1.0)（小小）高高层层(1.5)(1.5)商商业业总总计计容积率0.30.81.01.51.5套数11601,160单套面积250200130100建筑面积00115,973115,973占比100.00%100.00%占地面积00077,31577,3151212号号地地块块独独栋栋（0.3)0.3)联联排排(0.8)(0.8)多多层层(1.0)(1.0)（小小）高高层层(1.5)(1.5)商商业业总总计计容积率0.30.81.01.51.5套数9913、1991单套面积250200130100建筑面积0099,13799,137占比100.00%100.00%占地面积00066,09166,091商业地块分摊103454 18809.818面积比例6.77%9.35%8.18%6.45%8.26%7.18%9.26%0.00%4.75%9.18%8.74%11.79%10.08%100.00%规划建面80,430规划占地80,430120.58471规划建面91,908规划占地91,908137.7931规划建面66,587规划占地66,587规划建面63,462规划占地52,885规划建面81,180规划占地67,650规划建面70,58314、规划占地58,819规划建面91,040规划占地60,693规划建面46,752规划占地31,168规划建面90,306规划占地60,204规划建面85,964规划占地57,309规划建面115,973规划占地77,315规划建面99,137规划占地66,091用用地地规规划划指指标标序序号号 项项 目目总总用用地地规规划划指指标标指指标标功功能能比比例例1 1用用地地面面积积()802,227802,2272 2容容积积率率1.231.233覆盖率18%4 4总总建建筑筑面面积积983,320983,3205 5其其中中：计计容容积积率率面面积积()983,320983,320100.00%15、100.00%5.1公寓：(小)高层569,57157.92%5.2别墅：独栋6,0000.61%0.00%联排38,4003.91%多层265,89527.04%5.3商业103,45410.52%5.4会所及其他0.00%6 6不不计计容容积积率率面面积积()253,621253,6218,4548,454住宅地面车位62,0592,069住宅半地下车库170,8715,696商业地面车位10,345345商业地下车位10,345345可可租租售售面面积积序序号号物物业业类类型型建建筑筑面面积积可可售售面面积积可可租租面面积积5.1公寓：高层00 小高层569,571569,5715.2别16、墅：独栋6,0006,000 双拼00 联排38,40038,400 洋房265,895265,8955.3 商业103,4540103,454合计983,320879,866103,454占比89.48%10.52%项项目目总总投投资资估估算算表表序序号号项项目目名名称称总总额额（万万元元）单单价价(元元/)占占总总投投资资比比例例1土地成本51,00051921.10%2前期工程费10,4721074.33%3建安工程136,4781,38856.46%4管理费1,979200.82%5不可预见费5,938602.46%6其他费用10,8171104.47%7行政规费000.00%8财务费17、用16,3481666.76%9销售费用8,681883.59%10公用设施专用基金000.00%11合 计241,713241,7132,4582,458100.00%100.00%注：单价为按计容积率建筑面积分摊计算的单价项项目目资资金金构构成成序序号号项项 目目资资金金(万万元元)比比例例1自有资金0.000.0%2投资方投入51000.0021.1%3银行融资16000.006.6%3销售收入174713.2572.3%4总总投投资资241713.25241713.25100.0%100.0%预预售售项项目目利利润润估估算算表表序序号号项项 目目计计算算公公式式金金额额（万万元元）1销18、售收入618,4392开发成本216,6843销售费用8,6814运营费用1,4865销售税金及附加32,1216出租税金及附加4677财务费用16,3488土土地地增增值值税税161,5549利利润润总总额额1-2-3-4-5-6-7-8181,098181,09810所得税所得额25%45,27511净净利利润润89135,824135,82412成成本本利利润润率率利润总额/总投资74.92%74.92%13税税后后成成本本利利润润率率净利润/总投资56.19%56.19%结结果果指指标标序序号号项项 目目单单位位指指标标1占地面积802,2272总建筑面积（含地下）983,3203项目19、总投资万元241,7134项目经营收入万元618,4395利润总额万元181,0986税后利润万元135,8247成本利润率（税前）74.92%8成本净利润率（税后）56.19%9财务净现值（FNPV）万元91,18910财务内部收益率（FIRR）30.0%11动态投资回收期年4.70项项目目开开发发成成本本估估算算表表 序序号号物物业业类类型型建建筑筑面面积积（）1 公寓：高层、小高层569,571 洋房265,8952别墅：独栋6,000 双拼0 联排38,4003 商业103,4544会所及其他0敏感性系数100%5合计983,320序序号号项项目目名名称称计计算算依依据据单单位位成成本20、本（元元/）成成本本高高层层、小小高高层层洋洋房房独独栋栋别别墅墅双双拼拼别别墅墅联联排排别别墅墅商商业业、会会所所等等（万万元元）1 1土土地地成成本本518.6551,00051,0002 2前前期期工工程程费费106.5010,4722.1勘察测量费1.501472.2规划设计费等45.004,4252.3临时供水供电10.009832.4场地平整、临时道路50.004,9173 3建建筑筑安安装装工工程程费费1,5001,2001,6001,5001,5001,200136,478136,4784 4管管理理费费用用(1+2+3)1%(1+2+3)1%1,9791,9795 5工工程程21、建建设设其其他他费费用用10,8175.1工程监理费10.009835.2其他（报建费等）100.009,8336 6不不可可预预见见费费(1+2+3)3%(1+2+3)3%5,9385,9387 7行行政政规规费费0 08 8公公用用设设施施专专用用基基金金0 09 9合合计计（不不含含地地价价）2+3+4+5+6+7+82+3+4+5+6+7+81,684.95165,684165,6841010总总开开发发成成本本1+91+92,203.60216,684216,684单单位位开开发发成成本本2 2,2 20 03 3.6 60 0项项目目投投资资计计划划估估算算表表 单单位位：万万元元22、序序号号项项目目名名称称投投资资金金额额20072007年年20082008年年20092009年年20102010年年20112011年年20122012年年20132013年年20142014年年上上半半年年下下半半年年上上半半年年下下半半年年上上半半年年下下半半年年上上半半年年下下半半年年上上半半年年下下半半年年上上半半年年下下半半年年上上半半年年下下半半年年上上半半年年下下半半年年1土地成本51,00051,0002前期费用10,4721,0471,0471,0471,0471,0471,0471,0471,0471,0471,0473开发成本155,2126,3486,34811,123、417,2547,25412,81410,51010,01714,25415,6487,38018,30614,37013,5694 4合合计计216,684216,68452,04752,0471,0471,0477,3957,3957,3957,39512,18812,1888,3018,3018,3018,30113,86113,86111,55811,55811,06411,06414,25414,25415,64815,6487,3807,38018,30618,30614,37014,37013,56913,569注：工程款的工程款按实际工程进度的情况进行支付；项项目目销销售售收收24、入入与与经经营营税税金金及及附附加加估估算算表表单位:万元22511402154021570582.84595445954序序号号项项目目合合计计20072007年年20082008年年20092009年年20102010年年上上半半年年下下半半年年上上半半年年下下半半年年上上半半年年下下半半年年上上半半年年下下半半年年1 1销销售售收收入入578,752578,75224,20224,20228,33828,33834,83534,83532,40132,40132,40132,4011.11.1商商业业销销售售收收入入(万万元元)1.1.1商业销售面积()1.1.2商业平均售价(元/)1025、,00010,00010,00011,00011,00011,55011,5501.1.3商业销售率（%）1.21.2公公寓寓销销售售收收入入(万万元元)342,779.41342,779.4112,201.7512,201.7513,421.9313,421.932,758.632,758.631.2.1公寓销售面积()569,57127,115.0027,115.005,572.981.2.2公寓平均售价(元/)4,5004,5004,5004,9504,9505,1985,1981.2.3公寓销售率（%）1.31.3独独栋栋销销售售收收入入(万万元元)12,600.0012,600.0026、6,000.006,000.006,600.006,600.001.3.1独栋销售面积()6,0003,0003,0001.3.2独栋平均售价(元/)20,00020,00020,00022,00022,00023,10023,1001.3.3独栋销售率（%）1.41.4双双拼拼销销售售收收入入(万万元元)1.4.1双拼销售面积()1.4.2双拼平均售价(元/)10,00010,00010,00011,00011,00011,55011,5501.4.3双拼销售率（%）1.51.5联联排排销销售售收收入入(万万元元)35,796.3135,796.312,880.002,880.003,16827、.003,168.006,336.006,336.002,217.602,217.602,217.602,217.601.5.1联排销售面积()38,4003,6003,6007,2002,4002,4001.5.2联排平均售价(元/)8,0008,0008,0008,8008,8009,2409,2401.5.3联排销售率（%）1.61.6洋洋房房销销售售收收入入(万万元元)187,576.35187,576.353,120.003,120.005,148.005,148.0025,740.0025,740.0030,182.9230,182.9230,182.9230,182.921.6.28、1洋房销售面积()265,8955,2007,80039,00043,55443,5541.6.2洋房平均售价(元/)6,0006,0006,0006,6006,6006,9306,9301.6.3洋房销售率（%）2 2当当期期销销售售回回款款578,752578,75216,94116,94127,09727,09732,88632,88633,13133,13132,40132,4013 3销销售售税税金金及及附附加加32,12132,1219409401,5041,5041,8251,8251,8391,8391,7981,7983.1营业税28,9388471,3551,6441,6529、71,6203.2城市建设维护税2,02659951151161133.3教育费附加86825414950493.4地方教育费附加2898141617163.5水利基金4 4土土地地增增值值税税161,554161,5544,1122,5749,0198,7554,5175 5销销售售净净收收入入385,077385,07711,88911,88923,01923,01922,04122,04122,53722,53726,08526,08541339128116108118066587634629030699136.546752115972.591039.585963.520112011年年30、20122012年年20132013年年20142014年年20152015年年上上半半年年下下半半年年上上半半年年4 4季季度度上上半半年年下下半半年年上上半半年年下下半半年年上上半半年年下下半半年年44,18844,18849,61649,61633,76233,76240,96940,96959,64859,64822,47122,47173,26773,26745,63245,63257,02457,02412,12812,12812,73412,73413,37113,37114,03914,03914,74114,7418,824.678,824.676,562.386,562.331、840,969.0540,969.0559,648.0159,648.0122,470.8322,470.8373,266.7173,266.7145,631.7845,631.7857,023.6657,023.6616,170.1811,452.1871,496.1899,136.5037,347.09115,972.5072,229.6885,963.505,4575,4575,7305,7306,0176,0176,3186,3186,6336,63324,25524,25525,46825,46826,74126,74128,07828,07829,48229,48212,1281232、,12812,73412,73413,37113,37114,03914,03914,74114,7416,985.446,985.444,656.964,656.967,334.717,334.717,2004,8007,2009,7029,70210,18710,18710,69610,69611,23111,23111,79311,79328,378.3528,378.3544,959.3144,959.3119,864.8519,864.8539,00061,78726,000单位:万元7,2777,2777,6407,6408,0228,0228,4238,4238,8458,84533、40,65240,65247,98847,98838,51838,51838,80738,80754,04454,04433,62433,62458,02858,02853,92253,92253,60653,60617,10717,1072,2562,2562,6632,6632,1382,1382,1542,1542,9992,9991,8661,8663,2213,2212,9932,9932,9752,9759499492,0332,3991,9261,9402,7021,6812,9012,6962,68085514216813513618911820318918860617258534、8815087818026202419192717292727911,93515,5844,8527,99426,28723,96711,43730,52226,46126,46129,74129,74131,52931,52928,65928,65924,75824,75831,75831,75830,84030,84039,49339,49320,10920,10916,15816,158项项目目商商业业租租金金收收入入与与经经营营税税金金及及附附加加估估算算表表225114133912序序号号项项目目合合计计20072007年年20082008年年20092009年年20102010年年35、20112011年年20122012年年20132013年年上上半半年年下下半半年年上上半半年年下下半半年年上上半半年年下下半半年年上上半半年年下下半半年年上上半半年年下下半半年年上上半半年年下下半半年年下下半半年年1 1房房地地产产租租金金收收入入8,257.518,257.510.000.000.000.000.000.000.000.000.000.00188.10188.10206.91206.91206.91206.91413.82413.82413.82413.82744.87744.87993.16993.16993.16993.161.11.1商商业业租租金金收收入入8,25736、.518,257.510.000.000.000.000.000.000.000.000.000.00188.10188.10206.91206.91206.91206.91413.82413.82413.82413.82744.87744.87993.16993.16993.16993.161.1.1出租面积()103,454.00103,454.000.000.000.000.000.0018,809.8218,809.8218,809.8237,619.6437,619.6456,429.4575,239.2775,239.271.1.2平均月租金(元/)100.00100.00100.37、001001001001001101101101101321321321.1.3租金递增率10%20%1.1.4出租比例（%）2 2出出租租经经营营税税金金及及附附加加466.55466.550.000.000.000.000.000.000.000.000.000.0010.6310.6311.6911.6911.6911.6923.3823.3823.3823.3842.0942.0956.1156.1156.1156.112.1营业税（租金的5%）412.880.000.000.000.000.009.4010.3510.3520.6920.6937.2449.6649.662.2城市建38、设维护费及教育费附加（营业税的11%）45.420.000.000.000.000.001.031.141.142.282.284.105.465.462.3印花税（租金的0.1%）8.260.000.000.000.000.000.190.210.210.410.410.740.990.993 3出出租租营营运运成成本本1,486.351,486.350.000.000.000.000.000.000.000.000.000.0033.8633.8637.2437.2437.2437.2474.4974.4974.4974.49134.08134.08178.77178.77178.771739、8.772.1房产税（租金的12%）990.900.000.000.000.000.0022.5724.8324.8349.6649.6689.38119.18119.182.2房屋租赁管理费（租金的2%）165.150.000.000.000.000.003.764.144.148.288.2814.9019.8619.862.3维修费用（租金的2%）165.150.000.000.000.000.003.764.144.148.288.2814.9019.8619.862.4广告营销费(租金的1%)82.580.000.000.000.000.001.882.072.074.144.14740、.459.939.932.5管理费（租金的1%）82.580.000.000.000.000.001.882.072.074.144.147.459.939.934 4出出租租净净收收入入6,304.616,304.610.000.000.000.000.000.000.000.000.000.00143.61143.61157.97157.97157.97157.97315.95315.95315.95315.95568.71568.71758.28758.28758.28758.285 5净净转转售售收收入入31,429.6631,429.66注：1、净转售收入为2015年至土地使用年限结41、束时的租金纯收益折现至2014年底的值。附附表表4 4811620142014年年下下半半年年上上半半年年下下半半年年1,117.301,117.301,340.761,340.761,638.711,638.711,117.301,117.301,340.761,340.761,638.711,638.7184,644.1884,644.18103,454.0013215815820%63.1363.1375.7575.7592.5992.5955.8767.0481.946.157.379.011.121.341.64201.11201.11241.34241.34294.97294.9742、134.08160.89196.6522.3526.8232.7722.3526.8232.7711.1713.4116.3911.1713.4116.39853.06853.061,023.671,023.671,251.161,251.1631,429.6631,429.6620132013年年项项目目资资金金来来源源与与运运用用表表 单位：万元序序号号项项目目合合计计20072007年年20082008年年20092009年年20102010年年20112011年年20122012年年上上半半年年下下半半年年上上半半年年下下半半年年上上半半年年下下半半年年上上半半年年下下半半年年上上半半43、年年下下半半年年上上半半年年一一资资金金来来源源 685,439685,43954,00054,0003,0003,00010,00010,00016,94116,94127,09727,09733,07433,07433,33833,33832,60732,60741,06641,06648,40248,40239,26339,2631 1经经营营活活动动产产生生的的现现金金来来源源618,439618,43916,94116,94127,09727,09733,07433,07433,33833,33832,60732,60741,06641,06648,40248,40239,2633944、,2631.1销售收入578,75216,94127,09732,88633,13132,40140,65247,98838,5181.2商业出租收入8,2581882072074144147451.3商业净转售收入31,4301.4 其他收入2 2 筹筹资资活活动动产产生生的的现现金金来来源源 67,00054,00054,0003,0003,00010,00010,0002.1自有资金或自筹资金2.2银行借款16,0003,0003,00010,0002.3投资方投入51,00051,0003 3其其它它来来源源二二资资金金运运用用 549,615549,61553,89453,8942,45、9972,9979,6869,68616,99216,99226,89626,89632,63232,63234,01334,01331,84031,84041,24341,24339,43739,43728,78828,7881开发成本投资216,684216,68452,0471,0477,3957,39512,1888,3018,30113,86111,55811,06414,2542商业经营成本1,4861,48634373774741343销售费用8,6818,681254406493497486610720578土土地地增增值值税税161,554161,5544,1122,574946、,0198,7554,51711,93515,5844,8524商业出租经营税金及附加4674671112122323425销售税金及附加32,12132,1219401,5041,8251,8391,7982,2562,6632,1386所得税45,27545,2756,7907盈余公积8应付利润9银行借款本金偿还16,00016,0002,0008,0006,00010投资方借款本金偿还51,00051,0005,00013,00010,00014,0009,00011借款利息支付(财务费用)16,34816,3481,8471,9492,2912,2912,2231,9491,5731,47、1297873080三三盈盈余余资资金金135,824135,8241061063 331431451512022024424426766767687681771778,9658,96510,47510,475四四累累计计盈盈余余资资金金1061061091094234233723725735731,0151,0153393391,1071,1079299299,8949,89420,37020,370附附表表10.610.6项项目目一一期期损损益益及及利利润润分分配配表表单位：万元损损益益与与利利润润分分配配表表 单位：万元20072007年年20082008年年20092009年年201048、2010年年20112011年年序序号号项项 目目合合计计上上半半年年下下半半年年上上半半年年下下半半年年上上半半年年下下半半年年上上半半年年下下半半年年上上半半年年1经营收入618,43916,94127,09733,07433,33832,60741,0661.1 销售收入578,75216,94127,09732,88633,13132,40140,6521.2商业出租收入8,2581882072074141.3商业净转售收入31,4301.4 其他收入2开发成本216,68452,0471,0477,3957,39512,1888,3018,30113,86111,5583商业经营成本49、1,486343737744销售费用8,6812544064934974866105商业经营税金及附加467111212236销售税金及附加32,1219401,5041,8251,8391,7982,2567财务费用16,3481,8471,9492,2912,2912,2231,9491,5731,129787土土地地增增值值税税161,5544,1122,5749,0198,7554,51711,9358营业利润181,09853,8942,9979,6861,9498,20211,44212,32410,76813,8239补前期亏损66,5771,9498,20211,44212,350、2410,76813,82310利润总额181,09811所得税45,27512净利润135,824 税前成本利润率=利润总额/总投资=74.92%税后成本利润率=净利润/总投资=56.19%项项目目现现金金流流量量表表（全全部部投投资资）单位：万元序序号号项项目目合合计计20072007年年20082008年年20092009年年20102010年年20112011年年上上半半年年下下半半年年上上半半年年下下半半年年上上半半年年下下半半年年上上半半年年下下半半年年上上半半年年下下半半年年1 1现现金金流流入入618,439618,43916,94116,94127,09727,09733,051、7433,07433,33833,33832,60732,60741,06641,06648,40248,4021.1销售收入578,75216,94127,09732,88633,13132,40140,65247,9881.2商业出租收入8,2581882072074144141.3商业净转售收入31,4302 2现现金金流流出出466,268466,26852,04752,0471,0471,0477,3957,39512,70112,70116,67316,67319,68319,68319,44019,44020,71120,71126,45726,45730,12930,1292.52、1开发成本投资216,68452,0471,0477,3957,39512,1888,3018,30113,86111,55811,0642.2商业经营成本1,48634373774742.3销售费用8,6812544064934974866107202.4商业经营税金及附加46711121223232.5销售税金及附加32,1219401,5041,8251,8391,7982,2562,663土土地地增增值值税税161,5544,1122,5749,0198,7554,51711,93515,5842.6所得税45,2753净现金流量152,17152,0471,0477,3954,24053、10,42513,39113,89811,89614,60918,2734累计净现金流量52,04753,09460,48956,24945,82532,43418,5366,6407,96926,2425净现值91,18950,0829706,5893,6358,60010,63010,6168,74410,33312,4366累计净现值50,08251,05257,64154,00645,40634,77524,16015,4165,0837,353计算指标：123456789财务内部收益率=30.0%财务净现值（I=8%)=91,188.86万元动态投资回收期=4.70年2012201254、年年上上半半年年39,26339,26338,51874528,78828,78814,254134578422,1384,8526,79010,47536,7176,86014,214单位：万元序序号号项项目目1 1现现金金流流入入1.1销售收入1.2商业出租收入1.3商业净转售收入2 2现现金金流流出出2.1开发成本投资2.2商业经营成本2.3销售费用2.4商业经营税金及附加2.5销售税金及附加土土地地增增值值税税2.6所得税3净现金流量4累计净现金流量5净现值6累计净现值计算指标：财务内部收益率=财务净现值（I=8%)=动态投资回收期=项项目目敏敏感感性性分分析析表表因因素素变变化化情情55、况况部部分分指指标标变变化化敏敏感感性性分分析析结结果果销销售售收收入入（万万元元）总总投投资资（万万元元）税税后后利利润润（万万元元）成成本本利利润润率率财财务务净净现现值值（万万元元）内内部部收收益益率率动动态态投投资资回回收收期期（年年）基基本本方方案案670,248670,248236,543236,543131,612131,61274.19%74.19%92,62192,62131.23%31.23%4.454.45销售收入变化销销售售收收入入下下降降5%5%销销售售收收入入上上升升5%5%租金收入变化租租金金收收入入下下降降10%10%租租金金收收入入上上升升10%10%工程成本变化工工程程成成本本增增加加10%10%工工程程成成本本减减少少10%10%