摘要随着开放二胎政策等外部因素的影响，医药行业迎来新机遇的同时也面对着挑战，在日益激烈的竞争中，利润影响企业的生存与发展，而盈利能力可以反映企业的利润水平。本文以广西梧州三鹤药业股份有限公司作为探讨对象，通过分析三鹤药业2015-2018年盈利能力的相关财务数据，计算剖析其销售毛利率、总资产报酬率等盈利性指标，发现三鹤药业在生产经营过程中存在的问题有成本费用过高、销售渠道单一以及研发能力不足。本文结合医药制造业行业的发展现状及发展趋势，对企业盈利能力存在的不足提出了较具针对性的建议，分别是控制成本，改变营销方法并升级销售渠道以及加大研发投入，希望可以帮助企业提高盈利水平，增强企业市场竞争力。关键词：盈利能力三鹤药业医药行业AbstractWiththeinfluenceofexternalfactorssuchastheopentwo-childpolicy,thepharmaceuticalindustryisfacingnewopportunitiesandchallengesatthesametime.Nowthereismorecompetition,profitsaffectthesurvivalanddevelopmentofthecompany,andprofitabilitycanreflectthelevelofcorporateprofits.ThispapertakesGUANXIWUZHOUSANHEPHARMACEUTICALCO.,LTDastheobjectofdiscussion.ThroughanalyzingrelevantfinancialdataofSANHEpharmaceutical'sprofitabilityin2015-2018,calculateandanalyzeitsgrossprofitmarginonsales,returnontotalassetsandotherprofitabilityindicators,foundthat,theproblemsinSANHEpharmaceutical'sproductionandoperationwerefoundtobehighcost,singlesaleschannelandlackofr&dcapability.Thispapercombinedwithnowadaysconditionandtrendofpharmaceuticalmanufacturingindustry,giveadvicetoinsufficientcorporateprofitability.Theyarecostcontrol,changingmarketingmethodsandupgradingsaleschannels,andincreasinginvestmentinresearchanddevelopment.Itishopedthatitcanimprovetheprofitabilityofthecompanyandenhancetheirmarketcompetitiveness.Keywords:ProfitabilitySANHEPharmaceuticalPharmaceuticalindustryPAGE\*MERGEFORMAT2目录TOC\t"一级,1,二级,2"\hHYPERLINK\l"_Toc34860132"一、引言PAGEREF_Toc34860132\h1HYPERLINK\l"_Toc34860133"（一）研究背景PAGEREF_Toc34860133\h1HYPERLINK\l"_Toc34860134"（二）研究意义PAGEREF_Toc34860134\h1HYPERLINK\l"_Toc34860135"（三）国内外专家观点PAGEREF_Toc34860135\h1HYPERLINK\l"_Toc34860136"二、盈利能力概述PAGEREF_Toc34860136\h2HYPERLINK\l"_Toc34860137"（一）盈利能力的概念PAGEREF_Toc34860137\h2HYPERLINK\l"_Toc34860138"（二）盈利能力的分析方法PAGEREF_Toc34860138\h2HYPERLINK\l"_Toc34860139"（三）盈利能力分析的重要性PAGEREF_Toc34860139\h3HYPERLINK\l"_Toc34860140"三、广西梧州三鹤