还有 3 页未读 ，您可以 继续阅读 或 下载文档
报告派所有资源均由用户上传分享，仅供网友学习交流，未经上传用户书面授权，请勿作商用。
1、本文档共计 3 页，下载后文档不带水印，支持完整阅读内容或进行编辑。
2、当您下载文档后，并不意味着拥有了版权，文档仅供网友学习交流，不得用于其他商业用途。
3、本站所有内容均由合作方或网友上传，本站不对文档的完整性、权威性及其观点立场正确性做任何保证或承诺！
4、本本所有内容不构成任何投资建议，不具有任何指导和买卖意见。
5、如文档内容存在违规，或者侵犯商业秘密、侵犯著作权等，请点击“违规举报”。
公司报告丨年报点评报告天风证券TF SECURITIES财务预测摘要202120222023E2024E2025E202120222023E2024E2025E6234.467,1986390512411255354,6398310,2553310470.7711020.0814,256.131816202451.152.493382465.65347440营业成本2582.405397.605491515.950907.79304221.95110.67309222480566510359134011396.121510.41184551146055265245销售费用150192644834215其他640.932434.652.40881262322294780管理费用476.1480552994.72991811283.0511,796.4814,2555615,7867320,71884708897853184855997.9329185277262972631726337267.038304135.02)固定资产2243843622373.97053399928资产信用减值损失2238(25.79)0.00000104726130985144722149458公允价值变动收益18.9683211960029200无形资产374.154732056121548364355127.106873004.00500其他933.50816368390273258其他(1546☑160.42)0.000.00)4,845.906378826,955207241356979213730.783,028363158.814,137.9715,1563018,239.2723,02808营业外收入233035600375390.000000.00营业外支出174619270354414551871.71924343922178441,192953,724.943.029.663159.164,136.91其他1146.50133087714471603.04126134所得税123.64303133326347.40455061999.772433.701,946953439.783294.632810,760.000.000000000.00000000应付债券0000.000000.003,301642810.76其他367.183157034145341448937297.609953414836718315.7034145341442,544.272,749.402,288403781220.004759475847.584758202120222023E2024E2025E26304369923699236992资本公积95643010.143.53101435310143.5310.14353营业收入4728%12109%210%3273.626363.9985211010,9592314232924596%21289%31.00%其他1230.00(7805(877.1☑日属于母公司净利润20877%-1833%42%30.99%12.810.01184613820,7396823916.83182392723,02808毛利率4433%4755%4534%净利率2305%3219%2575%2583%ROE2110%1454%15.43%ROIC3022%5087%3495%202120222023E2024E2025E净利润3294.632810.76资产负债率1680%1395%1296%994%13.65%207.1136199464624946651384净负债率-3352%46.9%财务费用1720(27730(83.04)(1350☑5458.11602投资损失27.10400速动比率404475510736525营运资金变动120.33)(858510其它264.74(33854489429200331481424480113153,286913,003.603378554377066246.67资本支出1400.411804271189627123933816总资产周转率0420530.500.56长期投资22.161459200020.002000其他3.627.70(2442.65)183854(127530893(2,20521)1233.00(917.15)每股经营现金流0318898129.1394337136139.056851112641368034.094230559464535485.096995(5324(50470其他35425000000000市盈率46.1314941829175513406210.7174253)138.46(41980)(36790)市净率391315239207汇率变动影响0.000.00000000000EV/EBITDA62.9511.5310507.714,118.85(2,127.03)1909.041,852602204.127153118313351220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
转换为Word/PPT