附：财务预测摘要2021A2022A2023E2024E2025E2021A2022A2023E2024E2025E3211546358876587664231057035413342395405现金12172850559453025971营业成本18213380217024373108应收票拇及应收账款10351457000营业税金及附加14633339其他应收款61146335营业货用97203165165205预付账款336205716管理货用290604496496存货7579021631034492264520372373465其他流动资产102130116131127财务货用-2-39-102-144-152非流动资产3351468223492273286423-1800长期投资377373368364359其他收益0017482120179734公允价值变动收益611无形资产131267273289310投资净收益-12-300其他非流动资产1095192215401442146100656210144823688619506566226588911402119301612081137营业外收入200短期借款390303303303303营业外支出1900应付票摄及应付账款1111178800549224610128891140其他流动负债618925783905834所得税73309110145非流动贵债2576563853172834761936897995长期借款2442-26-60483936其他非流动负债2333433433435242005936814105223763672147115251421EBITDA706244111219691260205469430394338EPS(元)0.963.671.71544546546546546179919581958195819582021A2022A2023E2024E2025E留存收益17283628429948915640成长能力39826003633669427747营业收入%)49.9126.62.627.5656210144823688619506营业利润%)60.6300.5-12.228.361.5282.8-53.3-13.029.1毛利率(%)41.452.047.542.542.515.327.521.718.418.42021A2022A2023E2024E2025EROE(%)29.913.310.612.348025641425-211641ROIC%)16.554.9109.341.551.1净利润4761936897995佳债能力折旧摊销16824121122527236.236.217.917.214.9财务货用2-102-144152净负债比率%)-15.9-32.066.869.2投资损失30000流动比率1.518555.8-296238427-8705371.11.55.2455.3其他经营现金流121156-10-916-14362129-139-8520.60.8040.50.6资本支出7771173-2117153868应收账款周转率4.35.60.00.0长期投资16-27444应付账款周转率4.15.56.80.00.0其他投资现金流-155-2371011350261-811-132-1200.963.671.711491.93短期借款245000.884.702.610.043.00长期借款-83289271-68-3310.9911.6012.7114.192000查本公积增加16415900P/E44.211.524.728.422.023-103-539-64-87P/B5.83.93.73.33.0-9514382743291669EV/EBITDA32.116.519.214.2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拔露和法律声明2/4