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10.78229175183161462715267.041830158521917.99636.908.90763352.075633259459.178.9657913117.011335520456747.75512.43228627296.73751.90647901.4381615506.9121.64122238338730.674.6534.67398营业税金及附加304.9643588382.154580154905存货313515929265.92449393444003.4662.62799销售费用2184852281772547.642.90074329430其他17215.161536795183011821047.1624.90452管理费用304.02376195502180,4952193596.09112,186.45124,112321538983.47研发费用0.004907.178597.751.138.077.468077.46807746财务费用1.08407127882固定资产4472834702.57456625资产信用减值损失(6648(1456.00)(700.00800.00)900.00)在建工程194.61552.96110.591105911059公允价值变动收益50901)0.00000无形资产139.02302.67280.742588223689投资净收益1052.1.781151000.001.000.00其他6325236.793.077.771.648,96290其他1.7297410420)0.00172505519310.4720,9210821954.105,029805590.966450.857,7313797,745.7611289656132,26720145,03340175,817.57营业外收入95.502033920339203394079451481112100000012956.4213.98307营业外支出24391153611536115361153619699.6025.11731297455436.015.5742823A65,100.925678.995356336538.677,819.40其他163243918521.71492612949739.6369.91096所得税1337331.1640610979213402840.103.4458,450.1398,71062125717.503,763.594514.934259415,198406216.611513.151199.461.000001000.0010000092594638.767797693249应付债券0000000000.003588.994418.645,284.12其他472316472478984113481151631601.962362,983871,8467017898421348162,2013974,830.4690,796.67100,85727127,852316453.407849.028231288699.13925853202120222023E2024E2025E2117.672200.992200982200.98220098资本公积4624.944,723.164.723164723.164723163238%1230%2203%12418.7114.22.76165945519245.7322.416203485%-577%2244%1985%其他9929.658871.179.720559507.13936628520%085%2207%19.59%355443738.086.1041470.53443781447,9852697,745.76132,26720145,03340175,81757毛利率172%182%151%净利率073%057%ROE1173%1089%13.65%ROIC1220%2363%1856%2253%22.12%202120222023E2024E2025E净利润3763.594514.933.619654418.64529412资产负债率72.72%262.97313.18418244382445824净负债率-114%财务费用1014.42138725124903127882150281流动比率136126126122投资损失105269(1000.00)1.00000(100000088081营运资金变动396539115129361.75)(19295☑其它29309司63876779769324997.92691469146914787758351964,563.935248.141143172217.1717.161716资本支出260521157.401432011183总资产周转率440496520551570长期投资1.93464326330000000.00其他234341397913)362203584435012151601.96236(55199)519.60016207-051238(17.469106021.90(5935.11)2034.421322137315.1016211759229279(2527.49其他7.696.17185.79000000(000市盈率5764.79399(9999677.000.75®，78909市净率0.000000.000.001211A71831416,305.10(87923)3034.841251521932.01147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