首页行业分类金融证券证券2023-03-03-申港证券-比亚迪-公司点评:出口强劲 2月产销恢复明显
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2023-03-03-申港证券-比亚迪-公司点评:出口强劲 2月产销恢复明显

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2023-03-03-申港证券-比亚迪-公司点评:出口强劲 2月产销恢复明显
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申港证券SHENGANG SECURITIES比亚迪(002594.SZ)公司点评2020A2021A2022E2023E2024E2020A2021A2022E2023E2024E普业收入156598216142420202748557111605166110282384477284552076126251187998356422627919722315144455045768427121897142408营业税金及附加2154303567231197713992应收账款412163825190537161284188419营业费用50566082128062170825360其他应收款104312742477441351554321571010085179652098872420373791688210437研发费用74657991151272694831482313964335585416150479173101时务费用37631787-252129943498其他流动资产73138525889494879715-908.53-857.48-882.00-869.7489412129670120594115641110801-51.2747.36-1.9622.7010.37长期股权投资54667905790579057905-272.81-57.13-164.97-111.05-138.0154584.6261221.3765107.6965262.7863594.554632200413755855261无形资产1180417105153941385512470营业外收入281.68337.65309.66316.686666666666营业外支出484.85451.64468.24459.94464.09108125211252112521125216883451819882374222010172957804029785929266628768695512465464010843117130427819746071452265760143967174173278248279164011020447796119733142531178092265711741741应付账款4298373160128243225929259893归属母公司净利润4234304516760316074653981358EBITDA31897344042247745508633041141212983129831298312983EPS(元)1.475.7610.8615.993013320232196221962219622长期借款1474587448744874487442020A2021A2022E2023E2024E88802046204620462046成长能力138563191536295820480336542279营业收入增长22.59%38.02%94.41%78.14%16.82%7580917598321100612747营业利润增长206.44%-34.63%332.67%87.41%47.13%实收资本(成股本)27282911291129112911归属于母公司净利润增长450.38%88.59%450.36%88.59%47.24%资本公积2469960807608076080760807未分配利润24457284566125-32217-88671毛利平(%)19.38%13.02%15.18%16.12%17.40%5687495070974401016971079643.84%1.84%4.14%4.38%5.52%201017295780402978592926662876总资产净利润(%)2.11%1.03%4.16%5.33%7.02%ROE(%)7.44%3.20%17.20%31.08%43.11%2020A2021A2022E2023E2024E4539365467-13834111074074268%65%73%81%82%净利润601439671741732782482791.050.971.021.041.0821048.9627984.870.003416.493459.020.750.720.710.710.731787-252129943498应付怅款减少00-54285-70747-271380.790.871.201.501.3900123应收账款周转平67-14444-4540461947717384.783.724.174.233.60公允价值变动收造51472310长期股权投资减少001232001.475.7615.99-27357-165-111-1380.7512.416.1718.37-28907160632561041592-2097120.8533.4734.9337.0900000长期借款增加00000180.61250.4746.1224.4516.6101830012.748.137.937.607.16资本公积增加168381090023.8721.9922.2217.46204138125179705347020509敬请参阅最后一页免责声明2/4