还有 4 页未读 ，您可以 继续阅读 或 下载文档
报告派所有资源均由用户上传分享，仅供网友学习交流，未经上传用户书面授权，请勿作商用。
1、本文档共计 4 页，下载后文档不带水印，支持完整阅读内容或进行编辑。
2、当您下载文档后，并不意味着拥有了版权，文档仅供网友学习交流，不得用于其他商业用途。
3、本站所有内容均由合作方或网友上传，本站不对文档的完整性、权威性及其观点立场正确性做任何保证或承诺！
4、本本所有内容不构成任何投资建议，不具有任何指导和买卖意见。
5、如文档内容存在违规，或者侵犯商业秘密、侵犯著作权等，请点击“违规举报”。
国金证券公司点评2020202120222023E2024E2025E2020202120222023E2024E2025E3,3103,5076,0312,6709431,050152%57.0%45.0540.0%应收款项6871,329264345482-373-1,245504-799-1,158-1,6223434855996579521,33323.4%35.0%35.0%其他流动资产283525322472652640毛利1,2222,7809491.4842.1513.012流动资产5.8452164.14465.3%65.0%53.0%5743.2%35.139.1-8-10-13-17-234231,4851,4031.4031,4030.5%0.20.723212,6840393.1363.230-735-716-761-78829.031.7%34.3%18.3%33.0%23.0%17.0%175293339400459515管理费用-440-642-571-596非流动资产5,1905,3425,4465.5985,74425.0%18.0%47.0%42.560.9%-1.778-2,069-2.384-2.482-2,5029.50售收入11151164.0%108.0%540%27845435754401,741-1,691-672-2,730-2,318-1,704904应付款项9271,6161,1007021,0021,338n.an.an.an.an.a341231188184212-21318117-351.4722,0011,7669651,6253.3411.3%0.8%6-0.7%2.3%542490840840840840-4-13-220015522717615715046113-90002.1702,7192.7821,9712,6224,331-47-4220205,8287,9459,4847,3265.7124,806872911983983983-1,656-558-2,666-2,214-1,652923-3,668-4,389-6,777-8,935-10,543-11,454n.an.an.an.an.a0371293293293293-16-37-11-11-11-119.50-1.672-595-2.677-2,225-1,664934n.an.an.an.an.a-1369350282020202120222023E2024E2025En a-1,669-731-2,584-2-1,614906-1.9120.792-2.430-2.189-1637-0.919-10-19606.6798.7247.4325.7954.876-721-906-1.807-2.547-1.674-0.706n an.an.an.an.an.a0.0000.0000.0000.0000.000n.a.n.3.n.a.n.a.n.3.2020202120222023E2024E2025En.a.n.a.n.a.n.a.n.a.-1,669-731-2.584-2,15-1,614906n.a.n.a.n.a.n.a.n.a.0-10-19600非现金支出159278318249255261n.a.152%-6457.03%-14-125-1871343185109.83%306.2-15-26.46-46.9%-28678-729-318-135123.25-57%231.2-10%-25.228-43.8-605-1.645-69481.27%37.98%13.819.31资本开支902-394-434-386-386-172-1,046-104086285419234545030202020256.7121.4392.1300.0300.0300.0-74043-414-366366550.8349.956.1300.0300.0300.04,5273,0174,177004362170.7475.8271.1164.6101.3272937273651,301其他86-58-291-73-72-126-44.02-35.73-48.6-23.05.61%30.01%4.613-431293-79.8-21.433.7135.4-48.412011527.13%24.64%22.15%20.56%30.39%45.93%2
转换为Word/PPT