首页行业分类生物医药生物2023-04-07-西南证券-荣昌生物-业绩符合预期,研发加速推进
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2023-04-07-西南证券-荣昌生物-业绩符合预期,研发加速推进

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2023-04-07-西南证券-荣昌生物-业绩符合预期,研发加速推进
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荣昌生物(688331)2022年年报点评2022A2023E2024E2025E2022A2023E2024E2025E772.111351.192134.882988.83998.83821.70.472.0123.05营业成本272.05472.92725.86956.43折旧与摊销126.8485.0185.0185.01营业税金及附加6.1010.6716.8623.6067.870.200.000.00销售货用440.70472.92640.46717.320.000.000.000.00266.31216.19213.49209.22经营营运黄本变动.306.69-150.66879.09-95.07研发货用99010001050其他-13.7112.9314.470.35财务货用-67.870.200.000.00.1260.25-874.21506.5613.340.000.000.000.00-834.540.000.000.0012.110.000.000.00-16.540.000.000.00公允价值变动损益0.000.000.000.00-851.090.000.000.000.000.000.000.000.000.000.000.00-995.25-811.7-461.7932.270.000.000.000.00-3.58-10-10.22-9.212544.580.000.000.00-998.83-821.7-472.0123.05支付股利0.00199.77164.3494.40所得税0.000.000.000.00-124.58-68.230.000.00-998.83-821.7.472.0123.052420.00131.54164.3494.400.000.000.000.00312.36-742.67670.90107.74-998.83-821.7.472.0123.052022A2023E2024E2025E2022A2023E2024E2025E2187.331444.652115.552223.30成长能力应收和预付款项418.67972.621030.541308.65销售收入增长率-45.87%75.00%58.00%40.00%存货522.67472.92433.52381.57.428.43%18.44%43.11%106.99%83.477.5411.9216.69.461.56%17.73%42.56%104.88%1.501.501.501.50BTDA增长率.360.59%22.41%48.14%131.13%0.000.000.000.002402.202315.052227.902150.74毛利率64.77%65.00%66.00%68.00%无形资产和开发支出55.8648.5941.3134.0482.78%51.01%40.00%31.00%其他非流动资产349.49348.90348.31347.73净利率-129.36%-60.81%-22.11%0.77%6021.195611.776210.556464.21ROE-20.06%-18.89%-11.68%0.55%短期借款0.000.000.000.00ROA-16.59%-14.64%-7.60%0.36%应付和预收款项367.231097.352003.802140.00ROIC-51.06%-30.73%-20.55%1.75%长期借款0.000.000.000.00-121.26%-53.77%-17.65%3.92%其他负债673.66163.94163.94163.941040.891261.282167.742303.94总资产周转率0.150.230.360.47544.26544.26544.26544.260.661.011.702.556233.476233.476233.476233.477.557.128.467.31-1342.28.1964.22-2271.89-2154.43存货周转率0.680.951.602.344980.304350.494042.824160.270.35少数股东权益0.000.000.000.004980.304350.494042.824160.270.170.220.350.366021.195611.776210.556464.210.000.000.000.00流动比率3.662.641.791.842022A2023E2024E2025E速动比率3.072.211.581.66EBITDA-936.27-726.49-376.77117.28股利支付率0.000.240.35PE-32.12-39.05-67.971391.75PB7.377.947.71-1.84-1.51-0.870.04PS41.5523.7515.0310.739.157.997.437.64EV/EBITDA-31.6341.7-78.63251.68每股经营现金-2.32-1.610.930.020.000.00-0.37-0.30-0.17请务必阅读正文后的重要声明部分