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”。
国联证券公司报告|年报，点评202120222023E2024E2025E202120222023E2024E2025E货币资金483431213.718134管业收入2,54543,046.94007.55115276437.1278.10479.97623.18784.19营业成本734.301,150.91,487.51,781.834.16208040.1251.21税金及附加10.1315472485839331,331.6营业费用458.79623.04其他3.093.04管理费用444.03588.31744.134.497.14822.35,7398.22180财务费用29.09781长期股权授资0.000.000.000.00资产减值损失0.000.000.000.00a.0069131719.77公允价值变动收益0.000.00在建工程605.70800.0887832822.636133573257325732无形资产17248143.7348217.2428.7724.72227其他非流动资产409.506942159183527.991,13741,995.9252393,185.21.63832192.1235232,54552,729.680营业外净收益1902.042046,135.57,014.58,126.29,400.610,95141,135.51,5012252183,18310.000.000.000.000.00181.8317328337.84428.1817135176.68239.59305.50370.92973.701,32791,726.921842其他333.5840726639.95816.180.000.000.00507.9458394879.551,121.61369.63973701327.91726.9218422.756.9长期带息负债0880.660.51长期应付款0.000.000.000.000.00其他302230.2230.223022202120222023E2024E2025E155731.1231.0130.73523.5161506910.561,400.36营业收入1597%1970%31.53%2584%少数股东权益0.000.000.000000.00EBIT3.71%22.87%2840%26.18%788.13786.13EBITDA4.78%4270%28.57%25.50%资本公积1,450.01,342134a2134828归母净利润3.68%36.38%30.05%28.48%2622%留存收益3,37526,113897418.745,61203994824809,551.12毛利率71.15%7026%71.28%7131%7232%6.135.58.126.29400610,9514净利率3025%43.58%43.09%2.70%4283%ROE1735%2075%23.93%28.87%现金流量表ROIC5426%202120222023E2024E2025E净利润973.701,32791,728.92,184.28.77%1121%1228%12.79%107.04127.55229.65294.04351.9流动比率836.0财务费用29.0972552.93-528781连动比率735.14.7193.95205.0128728285.1237238307.9974.31288.819283其它2184778.80212.71241.78239.621769.862,03572,786.7648729536.02长期授资834.54281.500.000.000.00123.5其他46.96554745.5045.5045.503.5924.5739749441.79490.527.19210.512.1债权融资0.880.010.11-0.130.15374310.530.000.000.0047.634.921.2其他496.9290781-1146621448.13市净率7264564.928743EV/EBITDA24.723219.114.9456.14.1425173029599.71849.97EV/EBIT25221313.0数据来源：公司公告，D,国联证泰研究所预测，股价取2023年4月6日收盘价2请务必阅读报告末页的重要声明
转换为Word/PPT