附：财务预测摘要2021A2022A2023E2024E2025E2021A2022A2023E2024E2025E52255715662484091065340225014656183881058220352514352750327029营业成本965124316142054257424727000营业税金及附加5673118其他应收款13203816812048262433554233预付寒款46427474112245343584671751存货46367180210721276研发费用113255197294370其他流动资产24202198219821982198-10-14-10-10-105871004107111461264083832750固定资产113206317420-610无形资产6588961011981505050其他非流动资产4106375485580-0-058126719769595551191810161212156820202635900992609720801营业外收入101000000营业外支出9应付票据及应付寒款3623720010181214157020222637其他流动负债538619609720801所得税154163211272355134125125125864105013591749228200000少数股东损益1-1000其他非流动负债134125125125125863105113591749228210341117734845926EBITDA9911199154519802541235050050EPS(元)2.042.483214.13539股本42424424424284628462846284628462021A2022A2023E2024E2025E14862283344048666789475555526911866110942营业收入%)52.624.630.927.826.2581267197695955511918향业利润(%)56.319.329.428.830.558.821.829.328.830.476.075.275.475.575.721.521.020.720.921.62021A2022A2023E2024E2025EROE(%)18.118.820.120.81153769113715972131ROIC(%)40.161.968.377.388.5净利润864105013591749228235616517.816.68.87.8-10-14-10-10-10净负债比率%)40.4-42.6-57.0-63.419-81-50-50-50流动比率13.3224-317-212-164-161速动比率3.54.58.69.410.9其他经营现金流5970-15-15-15-2558-18-72-102-1431.10.8101.0资本支出27135313216220318.519.40.00.02300262000应付寒款周转率4.74.110.40.00.0其他授资现金流1373606026642.042.483214.130002.721.822.683.775.0300000112313.1116.3120.4525.83640000282000P/E53.043.533.726.220.1其他筹资现金流-220-320-521010P/B9.68.26.65.34.21258431101215051997EV/EBITDA43.435.026.519.914.7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