Huajin Securities华发集团旗下企业动态分析/中成药Ⅲ财务报表预测和估值数据汇总资产负债表（百万元）会计年度2021A2022A2023E2024E2025E会计年度2021A2022A2023E2024E2025E流动责产2182271235744550668721392555347744465701现金7641140151225954056营业成本223147139133171应收票据及应收账款5374488928221376营业税金及附加2833415369预付账款1310211832营业费用11551409189524013079存货137100191186管理费用99132122133171共他流动瓷产7311015102410241037研发费用61104133171非流动资产16211387153116811891财务费用717长期投瓷11011010910910845900488396542689880153-000无形瓷产4564184083963837000共他非流动瓷产56646447248752025746511791586205838034099510562318578营业外收入g02流动负债11101026121611591898营业外支出33短期借款5354864864864862554631584应付票据及应付账款1014237130所得税42177238308其他流动负债47446366371282213375100113471748非流动负黄4843434345101317长期借款001209379913331730共他非流动负债424242EBITDA346529123116302081115810691258120219411519294360主要财务比率2482482482482482021A2022A2023E2024E2025E资本公积12651266126612661266成长能力11691455200427943770营业收入%)55.719538.127.928.226303012381849866577营业利润%)45.680.9153.734.529.838034099510562318578归属于母公司净利润(%)50.077.0168.034.529.8现金流量表（百万元）毛利率(%89.694396.097.097.02021A2022A2023E2024E2025E净利率(%)9.814.528.530.030.436783777214931898ROE(%)8.112428.026.826.32133100113471748ROIC(%)7.010.623.024.123.9827164789517-8瓷产负债率(%)30.426.124.619.322.67000流动比率2.02.62.93.93.5营运资金变动-2193-30051速动比率1.7232.63.3其他经营现金流27735000.561-208-228-3050.60.60.80.80.8377-145-193-181-132应收账款周转率4.6525.2525.2应付账款周转率4.12.02.02.02.0估值比率0.841.494.005.386.98P/E65.637.113.810.37.91.483.383.126.027.66P/B5.24.63.62.72.110.6112.1515.4020.1126.53EV/EBITDA37.42329.76.74.5请务必阅读正文之后的免责条款部分