附：财务预测摘要2021A2022A2023E2024E2025E2021A2022A2023E2024E2025E7851930299971210515152118411581117033198472246522723358361842156933营业成本91101175013045150601702128203301329343914307营业税金及附加29444858其他应收款487077269346392496562预付寒款52735759651474258684193811221258存货18672084230227622961研发费用374498518615672其他流动资产316132132132132-24610811512852525491697170767101-168-2-2200000232323固定资产337540734921496349303-814040无形资产49261566968170339-106404040其他非流动资产1385804138014321468113102147931696819181222531444214721992611300657245761633365597156营业外收入566662763001000700600营业外支出14应付票据及应付寒款3247338439784521508414402135219126022997其他流动负债22002077135513381472所得税2173403313934504324932432422401223179618602209254825325330少数股东损益132其他非流动负债1792402402402401222179418592207254661556254657668017396EBITDA19842712280833203737346810EPS(元)3.945.796.007.12821股本3103103103103105925925925925922021A2022A2023E2024E2025E593675299390115991414669448535103871237214847营业收入%)20.433.57.716.513.21310214793169681918122253향业利润(%)0.748.72.418.815.11.046.83.618.715.323.125.723.424.124.210.311.410.911.111.32021A2022A2023E2024E2025EROE(%)17.621.017.917.516.814542124212720013800ROIC(%)14.818.516.216.315.6净利润1223179618602209254857964261074383747.042.338.835.533.2-246108115128净负债比率%)-16.4-29.4-27.041.1106-40-40-40流动比率2.1-113227-263-860510速动比率0.91.21.11.31.6其他经营现金流-294-400-149-165-182-1138-1469-2008-768-7811.01.11.11.1资本支出1332116720908488627.06.70.00.00.065-114000应付寒款周转率6.07.616.60.00.0其他授资现金流128-1878081-142-507-553-114-1303.945.796.007.12821-17524700-300-1004.696.856.866.461226-3000-250322.4127.5433.5440.6648.8800000000P/E23.215.815.312.911.2其他筹资现金流379-531-1002186-28P/B4.13.32.71.914725643311202889EV/EBITDA13.79.69.27.55.9数据来源：聚源、开源证券研究所请务必参阅正文后面的信息被露和法律声明