公司报告引季报点评天风证券TF SECURITIES财务预测摘要202120222023E2024E2025E202120222023E2024E2025E1025.04903.901.046931200.49132082509.69919491302851963.13146.60216219660177.1423533营业成本62.127617105.451107312429252431424520541营业税金及加91092415.15214732353183545437.03销售费用260.1631091436.6464962其他200.11942789368731管理费用5065818011475171171408.091256.771296581,509221714.63研发费用55187827112011704756.6361.74617461746174财务费用固定资产96.0375406494资产信用减值损失177在建工程466364663646636公允价值变动收益000000(300(3.00无形资产612859.7456435477投资净收兰1726568其他23.1834.11230024952605其他4384(1713)0.0000041259707.80674.426634113363176402162431023501721818.691,981172,183642378.04营业外收入0000010.000.000.000.000.00营业外支出1071873272.07241101.67351810853527913256174.5321297308.1649932其他52.63762776847931所得税1822202724.74357957.991225511203140.7411435154.261882427237441320.000000.00(71)应付债券0.000.0011490154.671887344248其他863487388753879308310123786348738210,40270241994027537228.676315.90567534202120222023E2024E2025E186.94186.941869418694资本公积1020801042311.04231104231104231-994%2840m4169%39424459.175468491541-1124%3200%2258%4347개61.73%其他0.000.00000000-1142%3461%2202%4470%62.03%1,608.291781781,908282149371818.691,981172,183642378.04毛利率8781%8953%93.67%净利率2254%2362%2053%22.54%ROE916%1053%20.63%ROIC4111%4044%2706%4189m71.72%202120222023E2024E2025E114351887344248资产负债率1157%1006%1261%9.62%14.071384121112111211净负债率-63.73%-59.76%-6145%财务费用0.000.00(1223)1580流动比率113369311578.031218投资损失1720速动比率67511.091172231140481194其它162940383710305361952952150.56150.72219.92273.5289.0815.94203128463820资本支出183.13151总资产周转率0350.63086长期投资5.110000.00其他(47509101811841608083101146237333.15)08111814615512231580每服净资产85790395010181147233010080)(14580其他780☑0.00市盈率52243881318121981357(8973(1317(18443)市净率3753563.15汇率变动影响0.000000000.00EV/EBITDA18.431318152027232)(114.50)143.021535612033EWEBIT20.01139723.691582941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