公司报告丨公司点评天风证券TF SECURITIES财务预测摘要202120222023E2024E2025E202120222023E2024E2025E货币资金101312.994363.009.19370,6352249807,421408.952,1773116321180.91133093757035007营业成本250.47411.03727.5211475814.57681114616832142营业税金及附加38220480714092177存货187.0512559967125394销售费用27.09986315241其他84.99604.76109371496816349248541754037704597.98551142,010.413,64810339733研发费用45.78745314089195.960.000000.00财务费用09680714092177固定资产27334156423243.734544资产信用减值损失(12.71)(500)在建工程0000253686077.75公允价值变动收益1195.00无形资产12.9019.741907217523141382310.00其他429143294179其他2190.007272110.99107.98118.138279117.94199.05343.2853634631572,143.103,762953515.4601211510.0010.0010.00751135.135000000000营业外支出1270.62482116447483118.64208.33352.65其他64356455292429018所得税9031585268341522633634724543.31165.007283109.621924832582504.170000.00000000359(115)(20☑(342)530)应付债券0.000.000000.00110.7719451329.25509.47其他14.1417.70165216911678096444141417.7016.9116.78287.19363.76580223152.00147202120222023E2024E2025E615082.00114801148011480资本公积218.042.778852778852778854010%5453%7450%54.53%172.46222983085044082-16.67%424678%5624%其他0.000.00日属于母公司净利润-22.44%5995%7559%6927%54.74%344381,754313,118.103,202733333.87631572,143.103481853,762953515.46毛利率4315%4309%4723%净利率1858%2120%2409%2337개23.40%ROE2029%632%624%1528%ROIC132A6%6270%37133%500.43%202120222023E2024E2025E净利润7283103.62194513292550947资产负债率4547%181%10A5%1489%5.17%4217.176487.04757净负债率-9427%-9380%财务费用1002.9480714092177流动比率2059726.712059投资损失(16☑0000000.001364789351905营运资金变动(14970(1498☑240.71其它42.783681142)158(5303433045145546004.0444835343.9426623442012681242资本支出(554111813131248总资产周转率083038029长期投资0.000.000000.000.00其他446☑(5755709628444552,73)508.62(1225)-0270043913.0013122297152627.1527892905201.02121831117131(24120(3732☑其他61.700000.000.00市盈率181.091132138.0924621288714112230529)市净率36.757164023.923760.000000.000.00a0055212556172948141483(400.79)567445.021753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