附：财务预测摘要2020A2021A2022E2023E2024E2020A2021A2022E2023E2024E3423448359535602664724414404375051797092现金24482452306236833949营业成本1874276429223697505272135457431433营业税金及附加1620202838其他应收款35931922营业费用5265717893预付寒款1263104150135179197存货4437407217581015193161224277其他流动资产4131102164864511372447373228103649364145224883资产减值损失55658367474738414318122172244531243265公允价值变动收益0201无形资产18723726523其他非流动资产759122591310781286180222833623481329595101231153032612855471015148814181943336332264079营业外收入258496541500723营业外支出3139应付票据及应付寒款66498020312130271232512865480161488其他流动负债258596644所得税38161681271869091632153815191259287112647989013028051466144514031138少数股东损益27160244386其他非流动负债104911612126196455847121623273575490147455338EBITDA571160883113671907442596620662749EPS(元)1.120.530.981416846846848908908718808808808802020A2021A2022E2023E2024E1906239328553022成长能力34643962407547165443향业收入(%)-3.780.4-14.938.136.96234813295951012311530향业利润(%)32.5294.3-57.485.646.510.9270.452.986.143.623.237.222.128.628.825.612.817.218.42020A2021A2022E2023E2024EROE(%)7.424.710.217.221.8551845123913562054ROIC(%)12.137.518.928.541.5净利润28711264798901302236266276364454资产负债率%)37.344.046.946.324473432-23.6-2.7-7.3-24.3-25.4授资损失-23-12-13流动比率242.31.81.6营运资金变动589306速动比率2.01.91.51.4其他经营现金流16-23-289-1134-707-205-1271总资产周转率0.50.60.40.50.7271777308123183634.545.114.014.019.0226-54616应付寒款周转率3.63.02.73.2其他授资现金流36189-39010364511015213-530-7400.301.120.530.9814149645309-3502230.640.981441.572386661-21-41-2654.014.594.725236.07普通股增加7402050资本公机增加627000P/E89.024.051.027.419.1-176-502-210-345P/B6.75.95.75.14.41553-8160962143EV/EBITDA31.411.421.313.09.0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