附：财务预测摘要2021A2022A2023E2024E2025E2021A2022A2023E2024E2025E29791275043267338853460635609928822423355752766151782013154193212625430191营业成本51957270423909852937603476435644000营业税金及附加21998212288331其他应收款117195137245990321593805926预付寒款133258317464434287264423460662存货5000359188307987研发费用602433635748860其他流动资产102874011401140114011464032528256876868749582848546-134-136115-132000001010固定资产32224424495457553112无形资产87685092310131125820202020其他非流动资产158915931618168416663354783437240168471385461020395781296183125892009319345240192951134740营业外收入123328600501157282053624914营业外支出应付票据及应付寒款1316912735002087586132518502613其他流动负债63236109829189769826所得税41961106148209410436436436436166952612191702240400000少数股东损益631312402425433其他非流动负债4104364364364361038214816127619712050219780244542994735175EBITDA21245441884292138941063851125316792112EPS(元)0.880.180.691.09股本11751175117511751175493049304930493049302021A2022A2023E2024E2025E7847770884459427108471391213740144601551217323营业收入%)-6.4-48.646.935.915.03547834372401684713854610향业利润(%)-34.3-71.7124.341.341.444.8-79.4282.056.354.47.46.27.68.03.01.82.93.03.62021A2022A2023E2024E2025EROE(%)3.67.89.912.420637030-79434007896ROIC(%)21.814.811.721.524.1净利润166952612191702240423432247257466857.857.560.963.564.4-46-95-40325282净负债比率%)45.5-83.8-20.-30.8-24.9-20-20-20-20流动比率1.51.36055-94871495-2357速动比率1.21.21.01.01.0其他经营现金流183242-87-69-81-450-349-1061-13338961.50.81.3资本支出4624561099136493011.94.90.00.00.0080000应付寒款周转率5.33.511.00.00.0其他授资现金流122831343111-1507-5494420.880.180.691.68-90015227480843781.765.98-6.763.410.76000011.6912.3113.2014.74504000044980000P/E19.192.924.315.510.1其他筹资现金流-990-1408-15283-53574820P/B1.41.41.41.347245174-90602125442EV/EBITDA6.615.69.55.64.4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