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公司报告丨公司点评天风证券TF SECURITIES财务预测摘要202020212022E2023E2024E202020212022E2023E2024E货币资金784.621229.041.041541281101473267588.7410,038.0013,019.2818415.77963.531153.201.665811005.01206643营业成本6294.17880564109973913307.40154140017252256642152229636营业税金及附加32.162825395148045432存货1989203329.002.644965044.14343563销售费用2343713210166.51728518416其他43247503.774757253318305403124632027438684342346318586,091158,021187,80487研发费用207.713087940034552470000.00000000财务费用102.9613071130.0512527固定资产2657812939393.042683125.62318820资产信用减值损失27.09(60.96)0000.00(15.00)在建工程1446252015.722.015722015.72201572公允价值变动收益0.00无形资产289.00281.0526137241692220110813.0025.00其他3673327028359163244630916其他108685544,760395,678.935,707.495735.0948871301.01947.939,102,7311825.0113539.96营业外收入34140.6917.400.0019361793.652780392.756493309.77222290营业外支出8946546.797.42977.791492.601361532311.0118918746319338.06958791846.741,643.90其他398.16950.726328489482所得税34.28278176.7013174131503,098304.671166,253624999.60428.90310.25882091515.00151230284.11704364942443424000000296.9367499应付债券0.000000000.00428903102558516840.011,118.01其他28439296822951629212234700540390741.06142588491,001.18789403,928.176,406.035788540.000.00167.765198879412202020212022E2023E2024E790.04790.04790047900479004资本公积2616372633.092.633092633.09263309-004%3227%2970%2300%15.00%1930.152106322.436932875.13365276129%21492%7444%-131%其他(1620011589)(11860日属于母公司净利润-254%4355%33.10%5,174.565418.985,911947,751429,1027311825.0111,770.0813,7286913,539.96毛利率1706%1553%1630%净利率555%309%6.07%ROE829%573%1019%1362%16.07%ROIC1128%633%1309%17.79%202020212022E2023E2024E净利润310255951684001111801资产负债率4315%5417%42.75%267.4729426323513438736423净负债率2784%4101%18.62%财务费用9759115.57130051362812527流动比率117120156投资损失(13.00)25000.00055营运资金动(54697(57384418.44)(9986224621其它67242594967499394298359489241199119931424128.00866.78971522248.004113774364.17434资本支出1292391119.11408794101740455总资产周转率091096110135长期投资0.000.000000.000.00其他2105480728.05)(79230039142(130890)(382.13)(407.13)04001611012334589)38841(1199146568672771991822640(7382(44957其他4559000市盈率272137.6119.94138910.44127540(34983)市净率2262152030.000000.000.009751952631805415.0318749239.55192.1613.0912.918.15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
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