国金证券公司点评附录：三张报表预测摘要2019202020212022E2023E2024E2019202020212022E2023E2024E12.17215,248321,1455,9365.7866,19832.2%31.325.2%22.5%应收款项17635956451764793-3,9105,176-7,221-9,437-11,714-14,2761,7331,6912,4142,8443,5304,10774.2%77.9%其他流动资产1,276298317351毛利1,3571,7892,0512,7353,5304.3953,3314,1594.3619.59410,28111.44825.8%25.7%22.123.2%235%58.496564.0563.9%-39-59-96-118115112000.61,9972,4143,2154.00547195,359-647-644-1,035-1,372-1.68027.412.3%9.2%9.29.0%1722189911,0631,099-152-296-320-426-4575602,3532,9384,4115,0405791销售收入2.9%4.3%3.4%3.0%41.4研发费用-75-74-88-122-152-1871.4%1.10.9%1.034020904457307361,0761,4521,850应付款项1,4531,5422,1152,3272,8253,4437.9%9.5%其他流动负债9527587618541,045-8-4-1951741792,7452,5093.1503,0253,6794,438014161001500196903330552.9413,4133,6283,0894,49012991501501502.7443.6845,07311,45912,28713.3022.5%11.2%237293293237758601,3251,7812,185未分配利润1,3211,9062,3763,022,85048.9%11.1%9.3%10.9%11.7%11.7%7016103122营业外收支16197510104347818791,4001.7912.1959.2%11.29.5511.5%11.7%11.8%-111-178-193-308-394-4832019202020212022E2023E2024E22.9%22.7%21.9%22.0%22.0%22.0%3736046871,3971,7121.62325517913.6704.7045.7720016171911.92515.56520.75739.07041.89245.3553736046821.302.5052.8092.2022.92049177.0798.7%7.4%0.3760.4740.7421.4681.8812.30913.6116.3913.45%9.39%11.23%12.73%2019202020212022E2023E2024E6.578.51%7.77.36%8.58%3736046871.0921.71210.90%9.97.230051619153183265326401475主营业务收入增长率23.66%322533.1231.2724229122-250-163-16533.09%0.8546.09%34.97%27.46%07-312-19261.7313.0057.78%28.16线22.7166585624.57%24.84%23.60%66.84%9.82%11.47%资本开支-692908055-1,141-1,141产力-55266313.617.515015.015.0262430150150150135.2120.7103.8110.0110.0105.0-1,220-21-976-98684.474.062762.060.01702005,7400104.9105.6114.1101.691.181.0-100769126-454-61其他-101-145-202-442-554677-31644-76-615-67758.4179.41,032.9-11.4-8.4-10.3-22244-14941351.73%25.06%2