公司报告引季报点评天风证券TF SECURITIES财务预测摘要202120222023E2024E2025E202120222023E2024E2025E421.942512292544400572035176292.65410.00550.02715.0223.472743323751176124营业成本228.7421728287.00371264719213.119.121405187223960840410.611702418952175943417033712销售费用11.75141088210621251其他251.62224.942528724908管理费用5621402723.73338342907012458242708.46728.60研发费用75.62697446.13580372930.000000.00财务费用(490)0.000.00固定资产90244509555729(1028)(1282)108.023925392539253925公允价值变动收益000a.000.00无形资产12811251924597投资净收益7.64546.50611其他70.72775062726312其他239020990.00000281795575234787189107.191,139.94137368营业外收入2110320891.100.00500610311328营业外支出0507327690.771282889965290)3506723710731其他19.65263618952753所得税7.772134751117.1353.03216.84134155.02)3523107.750.000.00500155124381162.62253应付债券a000.000000.00124254.93)340770.0410521其他8.77111612961435023(103)13119687718.9416.1628.4638.735820137.9324531270351721.632554706.91202120222023E2024E2025E53.435359535953595359资本公积892.16896.578965789657657%-1680%4010%30.00%156.6697.75124701824027410-90.45%-139502%-16627%10671%43.10%其他0.00日属于母公司净利洞-70.16%16203%5022%1,103.971029551,070.751,128381219331,139.94137368毛利率3497%2575%3000%3250%34.00%净利率353%-1877%1273%14.71%ROE113%319%623%ROIC-158%-1304%653%11.55%202120222023E2024E2025E净利润1341550☑3407700410521资产负债率501%607%18.15%20.7425.62417049325694净负债率6.94%财务费用1310000.00流动比率1781589327315投资损失544)速动比率14374317.67169营运资金变动18.43(97.06)其它490(4601162622.5314.72115013.7113171272115.122441632252.13211资本支出114.501902716017150.5915100总资产周转率031025044050长期投资0.000000.00其他(3249930711)023-103131196(27253)(134.72(14628028-040215债权融资10.557876756611520.57191819.9320972262154☑59615031679其他⑤3640000.00市盈率-451372.7635402356(16.09)13.83525344.35市净率225232221204汇率变动影响0.000.000000.00EV/EBITDA5251313823311618123413.2067.1347.09248517.65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