附：财务预测摘要2021A202242023E2024E2025E2021A2022A2023E2024E2025E24812529276532163813875114114178152274595555145718782406营业成本29338645055867243372900营业税金及附加6101219其他应收款91122143200241300371预付寒款2242732404959存货154145205229294研发费用137191220281341其他流动资产12871087108710871087-18-15-12-18221430457494542-1000000001920固定资产14120166210252163无形资产666417341721其他非流动资产2462162042050-0027022958322237094356337357644845178174103105105营业外收入01000000营业外支出0100应付票据及应付寒款6700337357488644845其他流动负债90107103105105所得税34688495530332543957676100000000其他非流动负债95303325439576761187179108111110EBITDA32534747461680800000EPS(元)2482.663.604.72624股本122122122170416981698169816982021A2022A2023E2024E2025E72995912921693223025152779311435994245营业收入%)36.230.424.228.125.227022958322237094356향业利润(%)20.05.936.632.131.224.07.335.131.232.166.566.268.269.370.434.628.531.031.733.52021A2022A2023E2024E2025EROE(%)12.011.714.116.017.9173451021538674ROIC(%)41.725.966.277.587.4净利润303325439576761661520256.93.02.5-1819-12-18净负债比率%)23.4-19.852.2-56.7-17-34-14-17-21流动比率14.014.530.536.4-117-2846126-43速动比率13.113.624.928.333.5其他经营现金流1651-16-23-31-110511-26-370.30.40.6资本支出134222425774应收寒款周转率2.42.3000.0-989198000应付寒款周转率4.55.013.40.00.0其他授资现金流1835162499-93-792.482.663.604.7240001.420.374.405.520000020.6022.7725.5129.4834.78000000P/E54.340.230.623.2其他筹资现金流-96-132-97P/B7.06.35.74.94.2-1030-41902422528EV/EBITDA48.646.331.923.917.6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