公司点评报告SOOCHOW SECURITIES东山精密三大财务预测表2022A2023E2024E2025E2022A2023E2024E2025E2227326.01432.0453844731.5803636343.08851375货币资金及交易性金融资产7.70711,82113245营业成含金融类)26.02129.9153527542.004经营性应收款项10.15411,23014280税金及附加10699118存货6,1667,237843810352销售费用353382488合同资产0000管理费用8168739911,130其他流动资产5405525565709401.091129315411825817.76817,22816.620财务费用200607602552长期股权投资140140140140加其他收益319319319319因定资产及使用权资产11.62511.16910,6149.963投资净收益ソソ在建工程1,8131,6921,619公允价值变动67无形资产303390477564减值损失544-249-2492492,1922,1922,1922,192资产处置收益6-10-10长期特摊费用5025025025022.84734754.4605.603其他非流动资产1.6841.6841,6841.684营业外净收支63405314378349,27255067284134725.600流动负债18.06819,13420,914减所得税474411528663短期借款及一年内到期的非流动负债8,9849,484893789372,36730613.9294.937经营性应付款项7.995845810.94312159减少数股东损益0000合同负债262738归属母公司净利润23683.0613.9294937其他流动负债1,0631,1651,003931非流动负债6,0446,163每股收益-最新股本摊薄（元）1381.792.302.893,1983,1983,1983,198应付债券0003,150439853786.471租赁负债1.6471,6471,6475,16358786.926其他非流动负债1,2121,1981318负债合计24.1252517827,07828360毛利率%)17.6017.7318.1318.24归属，母公司股东权益16,3591855822,14826.6617.508.429.129.6147474716,4061860522,19526708收入增长%0.6715.1418.5019234053143.78349.27255067归母净利润增长率%27.1229.3028.3625.662022A2023E2024E2025E2022A2023E2024E2025E经营活动现金流4,6302,38062543,445每股净资产元9.5710.8512.951559投资活动现金流-3.759-1016最新发行在外股份（百万股）1710筹资活动现金流504-1,4899.1112.2713.7614.92现金净增加额89%3,74914.4716.4917.7418.52折旧摊销2,0131.4811.5481.61559.5257.5154.9%51.50资本开支-3366-1.020-1.20PE(现价&最新股本摊薄)18.9214.6311.409.07营运资本变动-570-3,0492.742.411.68数据来源：Wd,东吴证券研院所，全文如无特殊注明，相关数据的货币单位均为人民币，预测均为东吴证券研究所预测。2/3东吴证券研究所请务必阅读正文之后的免责声明部分