附：财务预测摘要2020A2021A2022E2023E2024E2020A2021A2022E2023E2024E603365206749815797904530583766287996957414241321188627724586营业成本22663029337941985074148129000营业税金及附加30404857其他应收款2214718691559938132615591857预付寒款142920393183119159160191存货381860776研发费用263441524520622其他流动资产40434298430443004305-32-52-19767-10818493287327132343168-31-30-20-304512121267194854固定资产611022893874091106261无形资产6667849191245466其他非流动资产177031682964282827400078819807100201139112958155715981354171220167351298458520512营业外收入00000000营业外支出0000应付票据及应付寒款37782000015561598135917122016其他流动负债358478458520512所得税18719616620924532171717171369140211931503177100000少数股东损益0-0-0其他非流动负债171717136914021193150317717671315475537528EBITDA155515961376177120930111EPS(元)14.6214.9712.7316.0518.90股本6794494150585032503250322020A2021A2022E2023E2024E211433804453580674007114849295441085312429营业收入%)7.728.813.620.619.778819807100201139112958향业利润(%)68.32.7-15.326.517.874.92.4-14.926.017.850.048.149.047.547.030.224.018.018.82020A2021A2022E2023E2024EROE(%)19.216.512.513.914.2151815196079881892ROIC(%)257.569.647.150.363.7净利润1369140211931503177137631271859.713.44.74.1-32-197-67-108净负债比率%)-19.8-15.4-25.5-49-19124-66流动比率8.215.719.1229266496460172速动比率7.44.413.113.517.1其他经营现金流-415620-61-62-5543-1461-91250.90.70.70.70.8资本支出9894394711927.144.70.00.00.04608-1252000应付寒款周转率6.98.20.00.0其他授资现金流1151284234-155-127-8714.6214.9712.7316.0518.90000016.2016.216.4810.5420.190000075.9390.63101.87115.84132.6517000438811800P/E25.024.428.722.719.3其他筹资现金流-170-27249-127-87P/B4.84.03.63.22.8202-1035651814EV/EBITDA18.020.515.412.2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被露和法律声明