公司报告丨年报点评报告天风证券TF SECURITIES财务预测摘要202120222023E2024E2025E202120222023E2024E2025E1273.52851.751.9572318718719925065194716.95250.7852367490371996营业成本318.09350574612159543777.108526140.102645185.269105营业税金及附动加73613.001696400.78529.017521480260114016销售费用104.6997.43124841582819831其他5139624040437552095675管理费用82131008412662157.001.991244,59042125.4315879192.0723425237.470.000000.000.00475(12.01)(2526)(2542)固定资产7.68692725资产信用减值损失17.00(13.00)(13.00)0.000.000000.00公允价值变动收益0000000.000.00无形资产18.1540.00341228242236投资净收益33610.008.00600其他147.73217.10604760.006000其他41090.001758595.162657824715889224.192,444872,527.053,794.814,256004,690.02营业外收入0020590200.30161240000.00营业外支出032033020020263.047005376522278927378234158.99224.29其他122.91452284559681554所得税(1336)4127.95112145880496.9652233832481043.43329440.737822151.04213.090.000.000000000.00(3.76)(31.96)应付债券0.000.000.0011921245.04其他2084342125002500250003608613717834.2125.0025.0025.0065027547331088.4332824593202120222023E2024E2025E1378913789137881378813788资本公积1789.191796.433.123503123.50312350营业收入2258%997%3395%30.52%(18967刀(12351)430)184514295412952%20434%9267%41.09%其他(144(0.00144(144日属于母公司净利润13342%37.04%7524%29.78%1,794.801843.623398523611.592444872527.053,794.814,690.02毛利率5121%5110m5197%5298%净利率1491%1483%ROE286%356%6.64%ROIC1081%414%703%1032%1287%202120222023E2024E2025E净利润32.9440.73119211888124504资产负债率2650%27.04%1442%2015%2283%6908.75949964855净负债率-4091%-6027%548%财务费用252司254☑3607.075.00440投资损失(10.00)速动比率2972675.63331营运资金变动(32797刀(3535☑(10800其它8451465137.70319司218200225(115.61)82211941541501.63170资本支出15.7211213003.00总资产周转率029030031037长期投资0.000000.00其他(17198321)20003613717850.05)8.005.003.00每股经营现金流-143-188-108-0847027588司25261259131323.61249826761240.46132563000其他000000市盈率113.6682944733298823021304.891246.04252825.42市净率325312173153汇率变动影响0.00000000EV/EBITDA20.661535157794564(415.92(8535)110.632141159841.792449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