民生证券INSHENG SECURITIES厦钨新能688778)/电力设备及新能原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28751317893640845843成长能力(%)营业成本26278290713278741243营业收入增长率80.5510.5614.5325.92营业税金及附加373246EBT增长率80.4720.4045.3927.64销售费用26323646净利润增长率93.6626.2548.1828.42管理费用155159182229盈利能力(%)研发费用7578279471192毛利率8.608.559.9410.03EBIT1366164523913053净利润率3.904.455.765.87财务费用13230140总资产收益率ROA7298.3710.761144资产减值损失-150-72-81-102净资产收益率ROE13.6715.1018.7920.10投资收益5161823偿债能力1240155923152974流动此率1841.922.062.12营业外收支15速动比率1271.551.691.74利润总额1241156423182976现金比率0.170.390.520.58所得税111141209268资产负债率(%)45.7143.6141.8642.28净利润1130142321092708经营效率归属于母公司净利润1121141520962692应收账款周转天数629070.0070.0070.00EBITDA1672198627803469存货周转天数46.5630.0030.0030.00总资产周转率2.211.972.002.13资产负债表（百万元）2022A2023E2024E2025E每股指标（元）1017248837155199每股收益3.734.716.978.96应收账款及票据4955591467738528每股净资产27.2831.1737.1244.5617293341每股经营现金流-5.209.946.697.363352231826143288每股股利0.500.500.500.50其他流动资产1712143915791865估值分析流动资产合计11052121881471318921PE1915108长期股权投资100100100100PB2.62.3191.6固定资产3637386638483605EV/EBITDA13.1410.056.744.97无形资产280324365405股息收益率(%)0.700.700.700.70非流动资产合计4328470847724609资产合计15380168961948623530短期借款70170170170现金流量表（百万元）2022A2023E2024E2025E应付账款及票据5134597367378475净利润1130142321092708其他流动负债798197222276折旧和摊销306341389416流动负债合计6002634071298921营运资金变动-3351947-801-1297长期借款871871871871经营活动现金流-1561298720102212其他长期负债157158158158资本开支-651-649-450-251非流动负债合计1028102910291029投资-347000负债合计7030736981589949投资活动现金流-995-228股本3013013013013580000少数股东权益151159172188-79-52700股东权益合计835095271132813581筹资活动现金流3135-815-500负债和股东权益合计15380168961948623530现金净流量588147212271484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