附：财务预测摘要2020A2021A2022E2023E2024E2020A2021A2022E2023E2024E249027872914376038103840515353896467750166879613021367营业成本23783285332739874617324256351377467营业税金及附加33404857其他应收款1589120713957475688811031286预付寒款654970393206232217263304存货329388338532475研发费用226282299343401其他流动资产867126912691269126937203-516392511248527142914214300032固定资产11911465144116391809无形资产136232251275294159其他非流动资产2737787597697834128529853996474672443655272484418142426221929102653营业外收入232108295295295295营业外支出866应付票据及应付寒款6488016671092945429550720840其他流动负债10571330125715221413所得税344466737886281241205167395506536648762016012386少数股东损益0000其他非流动负债818139550653664876219002707246031142820EBITDA52370574587198700000EPS(元)1271.621.722.08244股本2233123123123129198068068068062020A2021A2022E2023E2024E1214154118402210264922282591294033593904营业收入%)29.734.24.620.016.041285298539964746724향业利润(%)13.326.59.819.516.520.027.86.120.817.738.136.238.338.438.510.39.89.910.010.22020A2021A2022E2023E2024EROE(%)17.719.518.219.319.56494964451149668ROIC(%)15.916.415.416.517.0净利润39550653664876211214514116016646.051.48.141.933净负债比率%)-30.2-23.4-22.7-15-109流动比率1.411.499-243-237351-243速动比率0.90.50.60.70.8其他经营现金流5495-23-484-516-100-3761.1资本支出421524-242322039.817.817.817.8-5143应付寒款周转率4.34.54.54.54.5其他授资现金流114-37-121-140-148179-217-267-2491271.621.722.449718701.591433.682.140200-40-36-377.158319.4310.7712.52089000-13000P/E25.419.918.715.513.2其他筹资现金流-154-183-177-212P/B4.53.93.43.02.614515712850665EV/EBITDA17.313.812.910.49.1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