附：财务预测摘要2020A2021A2022E2023E2024E2020A2021A2022E2023E2024E18739210112268226161279235172258691630107152479263560570467564858%9515营业成本4748954130581346598373140150177174225217营业税金及附加142232249283313其他应收款252429356887978579661046预付寒款4339495160427402410443428存货1188212549136891609216919研发费用2031333842其他流动资产10331176117611761176289267315358396128712641241126312675-40000000104100固定资产359343351382399-52-18-140-100无形资产895846331824140其他非流动资产8388638448488503040200252227523923274232919027973232293733843848928010102105161229212044营业外收入121212625177148198100219469营业外支出35应付票据及应付寒款48052455567068827943242294433913855其他流动负债25491863176316021887所得税7227947368489641331131510999517692072244722082543289190068453635少数股东损益486571508585665其他非流动负债431415415415415158618761700195822261061111416116151324312813EBITDA3133362533033768424014501668217527603425EPS(元)3.033.593.253.74426股本5235235235235234674674674674672020A2021A2022E2023E2024E697381959453109311261979659191101331142012951营业收入%)4.213.57.413.510.8负债和股东杖益2002522275239232742329190향业利润(%)13.615.6-9.115.213.712.618.39.415.213.78.27.87.77.77.74.04.23.53.63.62020A2021A2022E2023E2024EROE(%)22.022.517.917.917.72348199019415762906ROIC(%)22.424.821.821.424.3净利润20722447220825432891686768465053.051.348.648.343.9289267315358396净负债比率%)28.620.115.5-24-14000流动比率2.02.12.12.3-74-663-827-2511532速动比率0.70.80.80.70.8其他经营现金流15-114176140100133-221-2082.82.82.72.82.8资本支出556855198.3358.5358.5358.5358.5-99000应付寒款周转率94.7107.8107.8107.8107.8其他授资现金流268143-176-140-100-1207-560-1684-1169-12713.033593253.74426-80514644831823-5524.493.803.711.105.56-1470-216-148-18215.2317.5719.3721.8324.7600000000P/E16.213.715.113.111.5其他筹资现金流-212-2024-1952-2844-538P/B3.22.82.52.01284144835-8011481EV/EBITDA9.48.08.88.06.9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