附：财务预测摘要2020A2021A2022E2023E2024E2020A2021A2022E2023E2024E97161472014390223551654814687202741801421573235588502287705369527592营业成本107541483714324168481793948896120366180534739营业税金及附加104120108129141其他应收款43384021620179231313373400预付寒款20243219720910739884966存货25194520227657172793研发费用711964757906989其他流动资产13961385138513851385114102389410686429711760885008603-7216192135845646647648656固定资产6374707158176708688430无形资产435399383366350761515其他非流动资产147417869439508832250183572443121998308552515120903316178423863062680472535347137557083营业外收入66621571693100068362170营业外支出121414应付票据及应付寒款3040410727935322331820833310177323783054其他流动负债16071453155415971595所得税28338521130038091023121595983346180029251562207826746051890126064811少数股东损益12095314253其他非流动负债30542233533533516812830153120372621771495656942147387429EBITDA270540522335304638237541770180118431896EPS(元)0.721220.660.881.13股本22912312232723272327279540784078407840782020A2021A2022E2023E2024E48126723752085799943988913096132551427415826营业收入%)10.938.0-11.219.89.21835724431219983085525151향业利润(%)15.858.646.233.828.316.068.445.933.028.726.826.820.521.923.911.414.08.59.411.12020A2021A2022E2023E2024EROE(%)16.919.710.412.915.1175817765747-27117933ROIC(%)13.817.39.49.314.3净利润1800292515622078267453165457463472842.039.247.829.5114106净负债比率%)27.313.69-25.3-76-36-14-15-15流动比率1.42.02.3-812-18983586-55024439速动比率0.91.22.01.11.8其他经营现金流2012800-1833-18801543-15108160.90.90.8资本支出17611787-1547881933.13.7373.73.75-91-100-10应付寒款周转率3.84.24.24.24.2其他授资现金流-67185-14629-733-2151398-2524-1715-18110.721220.660881.13638-46569300.760.762.47-1.17341-12712856126374.255.635.696.136.80211500290128200P/E25.415.127.921.016.3其他筹资现金流-1030-726-1216-1103-1174P/B4.33.33.23.02.7-23212874767-59375306EV/EBITDA17.111.417.415.110.5数据来源：聚源、开源证券研究所请务必参阅正文后面的信息被露和法律声明