国联证券财务预测捕要位万元2021A2022A2023E2024E2025E2021A2022A2023E2024E2025E68484810231178280733844204507461469101394162419592374营业成本1836227127753386413117161923税金及附加9172010001230134416402001营业费用6184114其他915732731772822管理费用46755463170083635184059456454146398财务费用●1229A长期股权投资217319358396435334048582611528444356●公允价值变动收益4000在建工程5695796347148102686868无形资产1221311098765宾他2094其他非流动资产361817162624605647329011059133812361146966营业外净收益33334856529557096466736346356673590310611082540所得税366594110328419546636813428502658809951其他154163228278339少数股东损益3951650590836774945●1152389450593729857长期带息负债82长期应付款0969696其他384747472021A2022A2023E2024E2025E541515214814564499292610931297营业收入20.57%2424%20.68%21.14%少数股东权益131146211291385EBIT-25.98%13.08%3749%21.96%17.47%400404404404404EBITDA-21.48%12.34%2992%18.98%14.57%资本公积18941813181318131813归母净利润24.4%15.78%3181%22.92%17.49%178819402355346442114304478353736066毛利率34.56%32.89%34.00%3326%32.79%485652955709646673631524%14.82%15.66%15.95%15.47%ROE9.53%1083%12.98%1435%15.09%现金流量表ROIC15.01%14.97%17.91%21.04%2187%2021A2022A2023E2024E2025E净利润428502658809951资产负债1327%18.73%16.30%17.07%17.77%120131129132125流动比率6.04.95.95.7财务费用12-293344.03.1383.73.5319-230-115-296361营运资金变动-143678-151-505622372.9323232其它32128957239303存货周转率182.12.1418583375393总资产周转率0.60.60808资本支出-178-109000长期投资239193每股收益1.015182.1其他32-87191919每股经营现金流1.00.0140.993310.110.311.312.614.1债权融资142-25830400058.650.638.431.3其他-255-151-182-217-2545.65.54.54.0-2514-440-220-257EV/EBITDA52.539.125.421.418.724516217415565.848.729.924.520.9请务必阅读报告末页的重要声明