民生证券INSHENG SECURITIES中际旭创(300308)/通信公司财务报表数据预测汇总2022A2023E2024E2025E主要财务指标2022A2023E2024E2025E营业总收入9642111531439417063成长能力(%)营业成本681678671009412073营业收入增长率25.2915.6829.0618.54营业税金及附加6394111EBT增长率47.8431.2332.4118.42销售费用91105135137净利润增长率39.5722.6135.2819.41管理费用507586757870盈利能力(%)研发费用76788111231280毛利率29.3129.4729.8729.24EBIT1332174823152741净利润率12.6913.4514.1014.21财务费用-2228总资产收益率ROA7.398.2610.2710.77资产减值损失-340-193-207-227净资产收益率ROE10.2511.3013.4414.04投资收益103112137171偿债能力1327165722422677流动比率2943.023.683.80营业外收支24000速动比率1.691.781.952.03利润总额1352165722422677现金比率0.870.950.901.01所得税118145195233资产负债率(%)27.1126.1422.7922.51净利润1234151320462443经营效率归属于母公司净利润1224150120302424应收账款周转天数57.1357.1357.1357.13EBITDA1825227829233439存货周转天数208.21208.21208.21208.21总资产周转率0.580.640.760.81资产负债表（百万元）2022A2023E2024E2025E每股指标（元）2831340529873923每股收益1.531.872.533.03应收账款及票据1565179323162748每股净资产14.9116.5818.8621.56647495114每股经营现金流3.061.991.702.483888429555516660每股股利0200.250.330.40其他流动资产1239124912861317估值分析流动资产合计9587108161223514762PE51413126长期股权投资6367478841055PB5.24.74.13.6固定资产3217349835953696EV/EBITDA33.5226.5920.561721无形资产322325315303股息收益率(%)0260.320.430.51非流动资产合计6970734375327743资产合计16557181591976722504短期借款385385385385现金流量表（百万元）2022A2023E2024E2025E应付账款及票据1378159120412441净利润1234151320462443其他流动负债150116008981060折旧和摊销493530608698流动负债合计3264357633253886营运资金变动394-556-1427-1277长期借款696673673673经营活动现金流2449159313621985其他长期负债528498507506资本开支-784-762-647-735非流动负债合计1224117111801179投资-801000负债合计4488474745055065投资活动现金流-775-735股本80180180180133000少数股东权益124136152171-699-21-8900股东权益合计12069134121526217439筹资活动现金流-1641-244-1134-314负债和股东权益合计16557181591976722504现金净流量-681574936资料来源：公司公告、民生证券研究亮预测本公司具备证券投资咨询业务资格，请务必阅读最后一页免责声明证券研究报告