附：财务预测摘要2021A2022A2023E2024E2025E2021A2022A2023E2024E2025E7851930299971210513805118411581117033198472246522723358361842155586营业成本91101175013045150601702128203301329343914307营业税金及附加29444858其他应收款487077269346392496562预付寒款52735759651474258684193811221258存货18672084230227622961研发费用374498518615672其他流动资产31613213213213299-24610811512852525491697070717090-168-2-2200000232323固定资产33754073494349964969340无形资产49261566968170339-106404040其他非流动资产1385804135813931418113102147931696719176208951444214721992611300657245761633365597156营业外收入566662763001000700600营业外支出14应付票据及应付寒款3247338439784521508414402135219126022997其他流动负债22002077135513381472所得税2173403313934504324932432422401223179618602209254825325330少数股东损益112其他非流动负债1792402402402401222179418592207254661556254657668017396EBITDA19842712280933243743346810EPS(元)3.945.796.007.12821股本3103104034034035925925925925922021A2022A2023E2024E2025E593675298972106851266169448535103851236713490营业收入%)20.433.516.513.21310214793169671917620895향业利润(%)0.748.72.418.815.11.046.83.618.715.323.125.723.424.124.210.311.410.911.111.32021A2022A2023E2024E2025EROE(%)17.621.018.618.918.614542124212920053805ROIC(%)14.818.516.817.517.1净利润1223179618602209254857964261274784247.042.335.535.4-246108128净负债比率%)-16.4-29.4-29.235.6106-40-40-40流动比率1.9-113227-263-860510速动比率0.9121.11.31.4其他经营现金流-294-400-149-165-182-1138-1469-2008-768-7811.01.11.11.1资本支出1332116720908488627.06.70.00.00.065-114000应付寒款周转率6.07.616.60.00.0其他授资现金流128-18781-142-507-862-6386543.945.796.007.12821-17524700-300-1004.696.856.876.471228-3000-250322.4127.5432.2437.6744.2000000000P/E27.018.417.714.912.9其他筹资现金流379-531-1405-337-551P/B4.73.93.32.82.4147256-7425992371EV/EBITDA21.014.914.411.910.1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