附：财务预测摘要2021A2022A2023E2024E2025E2021A2022A2023E2024E2025E78262582882710701190896115213861597220288371446514营业成本5154505195966716200营业税金及附加5467其他应收款484468482461568663预付寒款47387261924144465564存货206140259200316研发费用4757其他流动资产1805252520178174161151138-10-940-13-202014222124固定资产181512000无形资产4211-3-1其他非流动资产1531531481470-009617999771209106-147125147260277389307450营业外收入1221091337256391营业外支出121应付票据及应付寒款00106-147125147其他流动负债10787所得税14-23214650505092-1257810612600000少数股东损益0-000其他非流动负债5092-124106126306327439357500EBITDA119-13310814016200000EPS(元)149-2.021271.732.04股本6262623653653652021A2022A2023E2024E2025E2301792546554620709营业收入%)43.9-24.728.620.315.2961999891209향业利润(%)26.2-239.1162.036.618.029.9-235.5162.935.818.456.749.855.057.058.07.7-13.96.87.77.92021A2022A2023E2024E2025EROE(%)14.1-26.414.317.217.8-128171-48ROIC(%)26.8-47.617.228.323.5净利润92-1257810612619171391031.840.944.436.541.3>0-22-17净负债比率%)-23.7-32.8-30.6-17.321流动比率3.02.32.72.4-10530-208的-161速动比率2.01.61.31.81.5其他经营现金流7473-7-7-22168011.51.41.5资本支出2719应收寒款周转率15.012.70.00.00.0-300677应付寒款周转率3.53.911.40.00.0其他授资现金流-16487221734-15-20-2.021271.732.04-3581246-80135141-0.04-2.072.770.79000010.637.678.9410.0611.500000340000P/E31.0-22.936.426.822.6其他筹资现金流-107-126-28065-155P/B4.46.05.24.64.0-163156-67EV/EBITDA21.2-19.925.718.716.5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