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”。
公司报告ㄧ年报点评报告天风证券TF SECURITIES财务预测摘要202120222023E2024E2025E202120222023E2024E2025E货币资金11765.1920.967.7115577.1215971.741553585188,185.48194,713.9621822.4021349.14273515219844.52291132515599182166.6994216238354163.11350165334124472.50154660509423196496营业税金及附加2312842363362389302.44880253529存货7254.006095815954.16666057销售费用43.70306030.9231713283其他7.962.935732.03703820640132724654管理费用1744271.7530917715918164718906352,718.576152137研发费用496.52608.136235464556136010412.92056129205612920.5612.92056财务费用7.935877551395963.135.78564582196固定资产266463.74259752572424407222512887207817.01资产信用减值损失(400.00400.00)400.00)在建工程458755961.400558640055116400551514005公允价值变动收益0000000.00000无形资产9763.4010.076879.759669442.45912524投资净收益3256.401.400461500.001.500001500009486.4910.084.159.008639033.44852659其他3120.410.00345,19025354,234.70360530.12372,92587389,789.94(1,58308)12295.7826,927.0731547.7141285189426,1918345131131营业外收入4790633581404494064543.045375059102616178074.97326营业外支出339.182.523991023.551295241.6142628924.4732.07321244699530805852722648(1,52265)10,2508421,980.8226,0363230339.90其他578273944.04251536778149901.6751.99472所得税1895.193394416594.197810909.1019712455035128,738.7814232532154194.4615398.4318,2254221237.931320192314964026139.04957118.659.421572494.0417784625410.02398应付债券8425.757.628.19653859753084723254(184535)2824.866,923.908,201449557.07其他21060.1025.447.9521907.0522805.03016039054182,71640167495.21148,99429147,8909.04286,738.41302,590.43296233.9929131961302003.5065309.9365210.72711345078151298632789202120222023E2024E2025E17835.6217835.62178356217.835.621783552资本公积1392.61543.19543195431954319446%145106%253%22812.6325285.64301323635873374256332-11510%-87670%8436%1879%17.16%其他1396282248322468.75203778-17008%-25307%14512%1845%16.53%111,17241110,27145121894.00134,8722214930781397,908.82426,1918345131131毛利率725%1650%20.01%净利率-110%147%356%4.62%ROE403%627%15.17%ROIC497%447%657%8.03%202120222023E2024E2025E净利润6.92390820144955707资产负债率7206%7329%7085%17.6553018.125.01176290617.629.0617.62906净负债率17499%17093%14725%140.11%财务费用8022.707.634575.963135785.64582196流动比率0420A9045037Q40投资损失325640129941)150000(150000036040033036营运资金变动228120914081其它7.457.42663.678.4625410023.9811.6阅0868518938008.4684424,179.9739,447.7528,700.8549,280.9435535.673251319733173277资本支出37564.79285409029102.0134.41836总资产周转率045047长期投资0000.00其他(513910刀(603892452041.66)(679213☑-0.1001603905420,52849)(39385.03)1362211612.7619914673.9410.935.60(682680)53337425725325353429660321470(376389)524720(680234其他(132768100000.00(000市盈率245610.02726(289947刀4,153.01(10,590.6920,39115)市净率151154137121100.000000.000.0010.017527286.6464375201539059394.62564.112337125111.671015942资料来源：公司公告，天风证券研究所请务必阅读正文之后的信息披露和免责申明2
转换为Word/PPT