公司简评报告·证券研究报告CAPITAL SECURITIES财务报表和主要财务比率20222023E2024E2025E20222023E2024E2025E11735.425797.734832.84298.85935.08481.29656.210890.0现金5531.518224.025977.3337232净利润3062.04546.66671.977633675.9822.01062.3111731753.72259.92150.021045其它应收款137.71855218.7230.0财务费用989.07134771.1934.1预付账款463.4562.8643.56623-3990-150.0-270.0-300.03876.6469825371555285514.51089.0251.0其他1022.7128021509.51587.6其它0.10548.7-37444650.035540.038215343735.7-2718.87011.94610.5-732552238.62250.02100.02200.0-2492.4-2005.0-2505.019032.218768.1190280197%3.42855150.0-100.01309.71183.71070.49683其他85283-2755.5-4720.5其他15376.27000.010000.015000.0-7982.1-2800.62707.54381456385.461337.873048.186664.57587.5-1552.02000.03000.010067.011683.814700.117208.6长期倍款-2593.2725.92000.02000.01076.61500.03000.05000.0其他689.23236.5-21.4应付账款5537.4751158588.18839.0-4765.812692.57753.27745.9其他1046.61271.11453320222023E2024E2025E25168.025618.629628.634608.6成长能力10548.612548.614548.61658.6营业收入29.7%25.2%52%其他14519.113000.015000.018000.0-50.69%513%46.7%负债合计35235.037302.444328.7518172归属母公司净利润-49.0%48.5%46.7%16.4%33.956.7902129221116.623978.728629234708.0165%19.0%21.5%23.1%56385.461337.873048.186664.5净利率83%9.8%12.2%13.5%20222023E2024E2025EROE145%19.0%23.3%22.4%37044.046372.654678.057505.4ROIC11.1%13.5%15.8%152%30925.037557.642940.344195.0营业税金及附加324.6382.7402.562.5%60.8%60.7%59.8%88.1139.1164.0172.522.9%22.9%24.0%24.9%1238.11623.01913.72012.71.172.212.37249管理费用533.8927.51093.61150.10.781.812002.17849.1713.4771.1934.1营运能力-14.8-20.0-30.0-40.00.660.760.750.66-290.6-50.0-30.0-100.061.9258.0452.77462.6200.0300.0400.06.485.745.335.073448.05217376525每股指标元)营业外收入15.025.030.00.911.351.98230营业外支出14.210.015.020.01.762.522.873.173444.95222.37662.5890846.277.128.501030368.2652.9957.11106.13076.84569.46705.478023PE16.010.87.36314.822.833.539.0P/B2.322.041.71141归属母公司净利润3062.04546.66671977633EBITDA5770.0810.610573.611937.00.91135