附：财务预测摘要2021A202242023E2024E2025E2021A2022A2023E2024E2025E47028112705284335674296589461375578087821288营业成本20218729841656621926100营业税金及附加其他应收款112223385580预付寒款152935582432466696存货163241497729研发费用86118164189275其他流动资产14851485148514853-8-25-29-195136858409951246-15008953固定资产1314215557540无形资产1512116113715其他非流动资产2802993203464030-00349635453839481312211744527819644588营业外收入00007000542营业外支出0000应付票据及应付寒款180142122117315445其他流动负债524246所得税72686464646411920031445000000少数股东损益0000其他非流动负债6864664119200314450346108106652EBITDA14712922135751600000EPS(元)0.850.88332股本10213613613613636628792879287928792021A2022A2023E2024E2025E17022240067010426373236343737334162营业收入%)73.6-10.170.543.945.3负债和股东杖益983349%6354538394813향业利润(%)415.166.561.241.0340.53.467.856.743.452.851.654.756.158.926.930.930.433.132.7现金流量表（百万元）2021A2022A2023E2024E2025EROE(%)18.13.7588.410.8经营活动现金流-55156236245ROIC(%)21.510.616.021.423.3净利润1151192003144502436486535.27.42.713.53-25-29-19净负债比率%)-22.6-16.4-37-11-13-15流动比率68.26.1-153-20757-100256速动比率1.013.051.055.14.7其他经营现金流334100授资活动现金流-120-1614-193-207-3210.50.20.30.31321972032203362.72.1000.00.010-1454000应付寒款周转率2.18.40.00.0其他授资现金流2371315筹资活动现金流552420120.850.882313.324705420.16-0.411.151.74181000004.7023.8725.3427.5330.69034000251400P/E111.6107.964.341.028.6-8112-544P/B20.24.03.73.43.1-44751-26-78EV/EBITDA87.682.948.329.820.8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