附：财务预测摘要2020A2021A2022E2023E2024E2020A2021A2022E2023E2024E12855235402187828682779209719072085228522552435108531261314880营业成本35064562865969247127营业税金及附加134744其他应收款1701821382121722063032预付寒款1168118586103存货7829907611173765412110研发费用0000其他流动资产153311091271137313833233933784165002097924396255222716128846-00039613512348634502029固定资产107202314209627286372无形资产52222312487144363511其他非流动资产1561720364219022347125079000328203725149062490385752825581073100215201824104938765211392164830807营业外收入01126692831144411367222829营业外支出190201128147应付票据及应付寒款576118802523688739313931677其他流动负债72494746669874697953所得税636224217323389781513978129311161599731733648717106912886417124291133399668271少数股东损益-8992-10517-145其他非流动负债139815491598164917021822741822118614331830822744340703326340780EBITDA2769158114802031243837073614350933923247EPS(元)1.180.480530.770.93股本15491549154915491549263626362636263626362020A2021A2022E2023E2024E673269157410814590321080510893114831238313501营业收入%)47.2169.19.49.63282037251490624903857528향业利润(%)199.5-58.1-6.651.720.0212.6-59.411.044.320.855.169.367.168.469.7233.835.343.156.962.72020A2021A2022E2023E2024EROE(%)11.94.54.86.87.7165-428-26855294-3964ROIC(%)8.74.32.83.93.8净利润1733648717106912881418223355.861.169.467.870.9323378416500净负债比率%)70.093.1119.090.7-2312487144-363-511流动比率1.11.51.00.9-232-1587-362543854957速动比率0.40.40.60.60.5其他经营现金流639-387-316-236-318-2807-1669-1039-1062-7900.00.10.00.0资本支出5429902222051576.746.626.736.731.72484-1116450419360.80.72.62.62.6其他授资现金流4749-1795-3674385973284228%450-1662-21561.180.480.530.770.93162-81-200.11-0.28-1.733.42-2567166012-1096-1367-16966.987.037418.008.720000000000P/E10.425.623.116.013.2其他筹资现金流2568-38881627-336440P/B1.81.71.71.51.4633183-327325696910EV/EBITDA11.422.426.717.616.9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2/4