公司报告丨年报点评报告天风证券TF SECURITIES财务预测摘要202120222023E2024E2025E202120222023E2024E2025E193.131505.961.733831584.51189555833832,159.451773768432691618456营业成本46380940941284363516.737.17126214743965617.7110364765552186762921043.65142227销售费用92731265616159其他1985390240425324管理费用7192938412244157.97817.712,95036357037460764.64759389090.000000.000.00502(1720)(18.04)固定资产31153307326026141958资产信用减值损失(1194)1190(1254)(13.77)0.005.105105105.10公允价值变动收益000(328)481)无形资产0440210060.00投资净收益0410060.06其他56837023404341984132其他13840.008842114.6078.1973.211465171.7334.59455.592359.213,023583636.46营业外收入0040.169.610000.00营业外支出0440000.15005206.0716737341253739460227114561717724273334.60455.71其他28.745157405950314750所得税16.99258036.46492667.082348838183424.259757145.97208272853438.630.000000000.000.00000000000应付债券0.000.000000.009757145.9729534其他27.7133.99205627.42273215022531844059927.7133.9820.56274227727283.0540239677.100.000.000.00202120222023E2024E2025E64.92649264926492资本公积483241776.001.776001776.00177600营业收入5486%3755%4030%34.40%9651242.444875734101122736187%4980%4125%37.93瑞其他043(72251)3110(429日属于母公司净利润6537%4131%3620%2.076.15257191295936906132359213,02358363646毛利率4438%4280%414%40.52%净利率1610%1753%18.00%ROE1552%7.03%902%1109m13.13%ROIC4788%3450%3911%202120222023E2024E2025E净利润9757145.972062728534资产负债率3050%1200%1496%1494%18.62%114014436616526.46净负债率-30.70%-7207%-7581%-6161%-64.05%财务费用2301433(1583)17201804328901549投资损失速动比率13769248444的331营运资金变动1685(44330其它203034843.00)552952952952210.851741671821.78175资本支出(82012513420.10总资产周转率051046056长期投资0.000000000.00其他375512919.96150225440293610.06每股经营现金流-1000A6325-26543822002741622172018043198352339624558167.03130132474(118其他000000市盈率91516117432931292298137,44131045市净率14204303903.47302汇率变动影响0.000.000000.00EV/EBITDA00017.5428.1521061489101921297.7122787(14931)311.03000180428.9121461510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