浙商证券鲁商发展(600223)公司点评表附录：三大报表预测值资产负债表利润表(百万元)20222023E2024E2025E(百万元)20222023E2024E2025E5562926095173161768712951458055616628现金431888381121412442营业成本9759229827793257000营业税金及附加539220278331应收账项3511264935031313109913631624其它应收款15982748278133管理货用350137195265预付账款15245741112130313492139232存货460471205641693257财务货用35322215565其他1790175350335272845280221142032公允价值变动损益0000000投资净收益116116116116长期投资720720180198其他经营收益272626261279135612341153311636773970无形资产197161140营业外收支(50)(15)(15)在建工程73584737261621758955其他576483491503所得税19693114143584742889719429197195286458125060620675117711245220132161203短期借款227000045396483609应付款项92662044618724EBITDA52794610231134216868245133EPS(最新摊薄)0.040.390.470.59其他17384103861104111595230123251321322主要财务比率长期借款22152215121521520222023E2024E2025E其他86110106107成长能力52907230001309212774营业收入4.76%-64.63%21.42%19.18%少数殿东权益1850198221432346营业利润-54.13%104.67%21.55%25.46%3717391541944598归属母公司净利润-87.44%77123%22.07%25.96%58474288971942919719毛利率24.65%49.84%50.03%50.87%现金流量表净利率0.50%11.53%11.59%12.25%(百万元)20222023E2024E2025EROE0.75%6.91%7.90%9.17%998771130252271ROIC0.88%7.93%9.36%11.09%净利润6552864581212411211811990.48%79.59%67.38%64.78%财务货用3532221556514.58%21.62%30.40%24.52%投资损失(116(116(116)(116流动比率1.101.261.471.42营运资金变动(338)(27115)(5688)459速动比率0.190.681.121.16其它9113408079119331(42)69087总资产周转率0.220.100230.34(152)43(2)应收账款周转率41.1818.7517.44长期投资540应付账款周转率1.300.502.455.69其他14107107(1618)(3150)(1339)(11290.040.390.470.59短期借款(2270)000.977.532.952.22长期借款(15360(1000)(1000)3.663.824.104.49其他867(880)(339)(129618)452023761229P/E246.0028.2423.1318.36P/B2.992.862.672.43EV/EBITDA30.429.886.003.76http://www.stocke.com.cn请务必阅读正文之后的免责条款部分