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公司报告丨季报点评天风证券TF SECURITIES财务预测摘要202120222023E2024E2025E202120222023E2024E2025E218.011.920.502742.122995591319.961841.532,507313745.005,2055545822385357632195231143226营业成本872861.197.501692212.516643.47.72152324118.055189110515.04224731231623921557318524757862501销售费用11.93161930.0944194164其他739.4694877997.40103445管理费用5580208221599562442.045,1856661293051968811160.4723781249870.000.000000.00325230.00320035.00固定资产466.96920.611262.60147454资产信用减值损失1421357(300520)34528395.07499706187470990公允价值变动收益0070910000.00000无形资产260.9630731351114105720.64238425.00300040.00其他303344.06311634803631其他18280.000.00990711620.691,900.702,267252631.4233268476.4947363729.892590.274,082737,452918780.72营业外收入5910011001.0010040.0490.061200001400.00150000营业外支出125145654654423.01455.79463.04106142110910337.344748547318724.351,181.13其他36.568716866所得税42.5747.53473272441299253824582391,73175294784273251921,051200.00100.021.000001100.00120000(110312456736应付债券0.00752.07250693342644567424.204228864735其他5613646573031271821824493948950.421306.821,498901718.71587.921,534.174,028984406.45193522.47250729063548202120222023E2024E2025E2322323252232522325223252资本公积126634129921129821129821129821营业收入17958%3951%3615%39.00%893.781263091828.4527400816831%4323%-050%其他266435694797日属于母公司净利润17588%-031%6125%2.002352528572845543,423934354.272590274.082735,884.12745291毛利率3387%3497개3251%33.00%净利率2242%23.04%1687%20.05%ROE1492%1693%1499%24.17%ROIC3912%2230%2587%39.02%202120222023E2024E2025E净利润294.78427324228864735104384资产负债率2270%5154%5030%57.1689301068312675净负债率-790%10.00%1901%299%财务费用27935.70300032003500流动比率2924182302.05228投资损失(25.00)3000速动比率262381212205营运资金变动(64617刀312.19)22299(63239其它102.0629845673641743743743743729.06107.50207.98983.745405512.149749.43资本支出614.41424394612349101总资产周转率059055050056064长期投资0.000000000.00其他(470231271824492878)544.12)35720(439.75)(449.40)每股经营现金流0120A642323214.96850393511627328853107812.131460185726.62114.92其他344100000000.00市盈率42.92299430.0319621217930.8813798615242市净率6405074503.74294汇率变动影响0.000.000000000.00EV/EBITDA79.1327.1720.9613818967.73)494.271,230.8424357298124.641573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
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