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350861161303247.994645.195,7083334535362.705084124502营业成本2303812.605233129.793.648444.4513926898.62412216725059营业税金及附加123312.6515061948存货516.67609858483480721125593销售费用2432330297403.954659757216其他97.41185.9312637633613157391104.601160131.7315469179481337.171744822586374998.46研发费用41234336593369688563132.97187281872818728财务费用24.14149337.6740335018固定资产784291014.93917.998210572411资产信用减值损失1559(2521)(2052)(18.99)在建工程21882218822188221882公允价值变动收益126(731)155无形资产95.0292448986872811.04254030.0035.0040.00其他52128579.46493015024643225其他4951,678.012,095511899.541709.7416104154.72186033,015.183,840335,550.18438585营业外收入175125150137144340.071,9916972944营业外支出335190154355.70112617.66150215943155511856237247其他14528145.6719490167.0422289所得税34624084587181948526684144914.132873.4012849120.8914479208.15290.53113.729105959810871496173724983486应付债券000651.940000.000.0011562105.93127.41183.17255.66其他87.1874.0160.9474040360.6220090770.821519974.042339.84988.173039.05126.92170001924822386202120222023E2024E2025E294.11294.11294112941129411资本公积1039311144.632.033382033382033382906%12722179%503.7471284877.70110779-17.99%-393%2024%4334%其他172929360000.00日属于母公司净利润-1429%2028%1945.802,220.843,210343397.673659.153,015.183,840335550.18438585毛利率2005%1979%2088%净利率401%325%322%39%ROE636%513%419%7.44%ROIC1047%753%779%604%12.61%202120222023E2024E2025E净利润12089127.411831725566资产负债率3547%4218%4216%2253%4537%103.59995299529952净负债率806%2134%3459%财务费用21.1037.6740335018流动比率154205167281174投资损失11042540(30.00)350040.000941341.92130营运资金动(20529(171859)1228.65(20956☑其它10382614930917901233123321266119.511542825405775435.61553资本支出4610413071310总资产周转率104095084103长期投资34254310000000.00其他(95121)169348100360430.62087(336.92)(43585)30.0035.0040.00-5.01525-576523.13100988194868618703103410.90152.9784491290周其他000000市盈率50513513251720071511.02(140542)1919.63市净率3543112122.011870.000000.000.00197520.55130613607844194.88411181724035.9328.451654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