附：财务预测摘要2021A202242023E2024E2025E2021A2022A2023E2024E2025E21572191233930473917476552706100214121746969124117612480营业成本2182523364806791471790营业税金及附加3346其他应收款334356085预付寒款1219243770892127存货243291472608研发费用687781110141其他流动资产9278578578578512-284942360517549637764-8-17-21-20000002018固定资产160295336427552310无形资产3940373432000其他非流动资产18217518000025172707288836844681771382824071412092217711416营业外收入03281316391270营业外支出0000应付票据及应付寒款077147198285411其他流动负债8290133147所得税12205951422436512616924535200011少数股东损益-3-19其他非流动负债514242681271732513611922522638141459EBITDA55150212317476704-19EPS(元)0.751411.922.794.01股本909090223622422242224222422021A2022A2023E2024E2025E-811928853223192456262928803241营业收入%)32.216.028.041.940.8负债和股东杖益25172707288836844681향业利润(%)104.179.741.344.844.494.387.635.945.443.554.354.352.452.251.913.622.923.924.424.9现金流量表（百万元）2021A2022A2024E2025EROE(%)2.86.410.9经营活动现金流215103249ROIC(%)3.912.718.321.826.5净利润651261692453522929537.69.322.131.21228-27净负债比率%)72.0-35.8-37.936.500000流动比率15.310.52.8-14867-142-135速动比率14.09.23.32.3其他经营现金流636-13授资活动现金流-16-834-67-1331880.30.20.30.373162741411985.04.10.00.00.0-676000应付寒款周转率8.05.510.90.00.0其他授资现金流3610筹资活动现金流163147270.751.411.922.794.0127个5086310.460.172.391.142.770001025.7827.3029.2232.0136.02220000161300P/E144.777.156.739.027.27-40-30466604P/B4.24.03.73.43.01652-8241951288EV/EBITDA147.354.637.725.216.5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