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公司报告丨公司点评天风证券TF SECURITIES财务预测摘要202020212022E2023E2024E202020212022E2023E2024E货币资金7110.777.022576.9346916,75.101329845483928774.9465179347247142.6089853315164103675630542500759255.706234226670253222443346.07365713383241730营业税金及附加39911494.6560118存货4295268436.704.720119133.72575073销售费用6891397.672008896.151039182其他11459369.1429510006251151339管理费用619.161326891836.192.0182530,2314238327574808835研发费用1284852203.432539112.74825523.751436221.43622143622143622财务费用5666(7935)2179固定资产5189.754213183237.60226202资产信用减值损失398061.7224432029在建工程22889665.9666596公允价值变动收益20.70340619.1024622593无形资产1745.051644.451.416291189.1295995投资净收益195.66507.12707.1275712857.12其他5203.127313345339016,018.05620901其他(74788(139921)(2228438139)31022)115802116,248.7313,070.65125459511533.163,195482780.903361113719.584,289.7855,94855493982257.00859营业外收入30425191502073234362110622.03000营业外支出14.60558633.053450411318067212329324175273624726.8422840362916543535393919.444,459.70其他75295910.713.15130887611056.5112.72725所得税639.1057374705508027525,6188130.816.1135,783352848.032342803,213.9432391267.151370221536.941.65914184187应付债券0.000.000000.000.00157888972581554.801815.08其他2312.431223201407.141647591160711141332344821,223.201407.1416475927405.1240,35730318393137,1904937,215214627.405249.906324757.48652877606202020212022E2023E2024E1362.731362.731362731362.73136273资本公积2061.712009252.069252069252921%3961%1093%587%824%6317.106816817.7496988393910.109182086%10.67개其他935752496121日属于母公司净利润-11.97%-3840%3703%1667%16.74%1440852155912517558.901981810223963041,811.6455,94855493982257.00859毛利率2405%2094%2143%21.96%净利率326%144%178%2.11%ROE1615%940%1186%1334%ROIC17257%-8034%9033%202020212022E2023E2024E净利润2846.03234280133268155480181509资产负债率7213%652%1024211136891203741203.74120374净负债率-2540%财务费用120.732179流动比率113104119124135投资损失(1956司707.12)(757.1☑(857.1☑097082103119营运资金变动469584685983其它2734.783475301556041683.761867807.938386216.794313.78(1,70585)12421061113311451154资本支出2113.111.08923(1839总资产周转率128138147长期投资5.67912.460000000.00其他4892495.1386543080(4512☑116071133(3,90055)(4,423.29)3177.6-125债权融资20.652954.4692627598249.05(9547周其他0000.000.00市盈率15.451830156913441474.923,79420(86213)市净率2362171790.000000.000.0013107395(45030)138541(8788)9,85040166133552.03242资料来源：公司公告，天风证券研究所请务必阅读正文之后的信息披露和免责申明2
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