2021A2022E2023E2024E2021A2022E2023E2024E64.0878.31100.17126.0320.2924.8631.8140.97营业成本16.2619.2522.8727.45折旧与摊销1.191.361.501.63营业税金及附加11.0513.6617.4021.89-0.65-0.10-0.17-0.28销售货用9.6812.1416.5320.170.000.000.000.002583.134.015.04经营营运黄本变动12.450.946.265.96财务货用-0.65-0.10-0.17-0.28其他-3.04-2.89-0.84-3.800.000.000.000.0030.2424.1738.5644.481.211.731.731.73-5.69-1.00-0.50-0.300.981.221.181.16-6.472.952.912.89其他经营损益0.000.000.000.00-12.161.952.412.5927.1233.1742.4454.66-3.620.000.000.00-0.13-0.03-0.03-0.030.000.000.000.0026.9933.1442.4154.630.000.000.000.00所得税6.708.2910.6013.66支付股利-5.65-6.3620.2924.8631.8140.97.4.35-0.110.170.280.000.000.000.00-13.61-4.17-4.80-6.0820.2924.8631.8140.974.4821.9536.1740.992021A2022E2023E2024E2021A2022E2023E2024E39.5861.5397.70138.69成长能力应收和预付款项0.620.760.961.2125.13%22.19%27.91%25.83%存货31.9436.5141.8951.4729.62%22.31%27.94%28.77%27.1927.0027.0527.1129.50%22.51%27.97%28.79%0.240.240.240.24BTDA增长率26.74%24.50%27.10%27.94%0.000.000.000.00固定资产和在建工程20.2020.2419.6618.7974.62%75.41%77.16%78.22%无形资产和开发支出1.701.310.890.4418.11%19.38%20.33%19.78%22.8622.8522.8522.84净刹率31.66%31.75%31.76%32.51%144.34170.45211.25260.78ROE21.83%21.89%22.66%23.41%0.000.000.000.00ROA14.06%14.58%15.06%15.71%35.4638.3449.1160.00ROIC151.19%248.95%493.12%4224.99%长期借款0.000.000.000.0043.17%43.98%43.70%44.44%其他负债15.9118.5421.7325.77负债合计51.3756.8870.8485.760.490.500.520.53股本12.5512.5512.5512.555.565.726.607.727.177.177.177.17164.11159.69163.84162.3677.3998.19125.03159.64存货周转率0.560.560.570.5792.97113.57140.41175.02133.50%0.000.000.000.0092.97113.57140.41175.0235.59%33.37%33.53%32.89%144.34170.45211.25260.780.00%0.00%0.00%0.00%流动比率1.992.272.422.592021A2022E2023E2024E速动比率1.351.611.811.98EBITDA27.6634.4443.7756.01股利支付率27.82%16.33%15.63%15.53%PE37.1330.3123.6918.398.106.635.374.311.621.982.543.27PS11.769.627.525.987.419.0511.1913.95EV/EBITDA24.0118.6513.8510.09每股经营现金2.411.933.073.550.75%0.54%0.66%0.84%每股股利0.450.320.400.51请务必阅读正文后的重要声明部分