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”。
国联证券202120222023E2024E2025E202120222023E2024E2025E1,2351,2622,0984,5238,147管业收入2,0636,01311,19617,28922,6546543,0914,7736255营业成本1,4433.9266,87410,85914,302247092税金及附加2571936871,4163,918营业费用95162233283其他4241,2711,7752,3512,859管理费用C2194841,3831,7903,1785,9599,27014.99421,271财务费用13-801-14长期股权投资000资产减值损失-24-896791,3391,5822.00012,394公允价值变动收益000在建工程154444322200投资净收益222无形资产24141127113其他1256-132154其他非流动资产2312842181521523591,4903,0564,5345,9581,0882,1302,3712,5882,845营业外净收益44A4,2668,09011,64117,58224,1163561,4823,0524,5315.955130399002103807412,5654,0676,430A8,4613161,2732,6725213其他179454128500001,1393,4174,8847,71610,1503161,2732,6725213长期带息负债150287247201154长期应付款50505050其他82424202120222023E2024E2025E157362322293,7805,2067.99210,379营业收入84.14%19155%54.42%31.03%少数股东权益00EBIT2.27%308.34%118.77%31.15%股本15515517176176EBITDA7.34%288.14%113.63%46.08%29.07%资本公积2,2072,37023502,3502,350归母净利润15.19%302.53%109.95%48.44%3143%6081,7853,91011,2112,9704,3106,4359,59013,73730.03%34.70%38.60%37.13%3687%4,26618.09017,58224,11615.33%21.17%23.87%22.94%23.01%ROE10.65%29.53%41.52%41.36%37.95%现金流量表ROIC43.5%56.64%68.62%71.55%72.85%202120222023E2024E2025E净利润31612732,6725213资产负债30.38%46.72%44.72%45.45%43.04%108184143流动比率2.791.741.901942.10财务费用-801-141241.261351.54存货减少497728-844643营运资金变动559-6103.683.033.633.633.63其它5679078441,0156422.102.773.043.65-3479205,1230.480.740.960.980.94456709400400长期投资00000每股收益180725152122.5829.68其他4291每股经营现金流52412.7320.9629.171,649280399399399每股净资产16.9124.5436.6454.6078.21224406438647002100118.1529.3513.989.427.17其他250215583-81112.588.675.813.902.72-251911,001-857-1,10076.21321011.307415278362,4253,623EV/EBIT86.3634.5811897.715.392请务必阅读报告末页的重要声明
转换为Word/PPT