附：财务预测摘要2020A2021A2022E2023E2024E2020A2021A2022E2023E2024E4133559555416475730262257354819191741042413381840182220542457营业成本4978586861477028814810641480149917771880营业税金及附加33414651其他应收款19719324326590105205239261预付寒款125150148192209364370483541573存货13071629160619082166研发费用191187238257271其他流动资产21829927330032432822616118020065936346728475997916-11765881628161924092879339955565253固定资产29492690291128782755.5000无形资产823806783747706131212463516其他非流动资产11931232118210941057601072611941128251407415218430714162156716552645168487079营业外收入6366635993548360036503700营业外支出10应付票据及应付寒款13701987185922562288426680139714921616其他流动负债70210179929421092所得税112223347373440455554344203314457105011191176366446254116少数股东损益242其他非流动负债9010897908732548110491117117461267106693971927282EBITDA651896185919862110246EPS(元)0.390.860.910.96股本12261226122612261226301030113011301130112020A2021A2022E2023E2024E52882514922238304345844835588468787930营业收入%)17.618.111.412.013.61072611941128251407415218향业利润(%)34.366.196.56.78.315.547.9118.26.45.120.020.225.023.421.85.06.212.812.211.32020A2021A2022E2023E2024EROE(%)6.89.417.816.314.811175041194829972ROIC(%)5.06.111.611.210.7净利润314457105011191176666235057.159.554.51.147.9328226161180200净负债比率%)58.750.73028.918.9-131-212413463-516流动比率0.70.90.91.0247-479-227速动比率0.40.60.60.60.7其他经营现金流29345133-14-18-419172-884-199-1560.60.607070.7资本支出2621704702001555.95.8565.7291790470-520应付寒款周转率9.29.29.39.4其他授资现金流3651376471519-486-358-328-3974130270.390.860.910.9611705250500.910.410.970.680.79-82780-138-1383.743.944.805.61647100000424000P/E20.714.06.46.05.7其他筹资现金流-1353-388-325-310-325P/B1.51.41.11.00.8187332-18232403EV/EBITDA14.510.24.94.43.9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