附：财务预测摘要2021A2022A2023E2024E2025E2021A2022A2023E2024E2025E670681587330887710446121491405117095206222445914542357328745795879营业成本698876688678102931205818181997291440营业税金及附加137159193233276其他应收款22019731130242542154642572768678096预付寒款26528738542553680574088010411223存货22802171216824062417研发费用103106145186245其他流动资产668114911491149114921417920924228764646549725180488851286620003316-1954505050固定资产34223867457553796211-1310无形资产13691311129012641205-171000其他非流动资产16221338137114071455300013170147071458116925192974974301811232489971043892841028810958营业外收入2414161829883372318032763228营业外支出9应付票据及应付寒款24462053257625273145494443136718172332其他流动负债35635013352844854585所得税10334245458315711342134513221275339102513631749703504506483436少数股东损益-54-1092123157其他非流动负债868839839839839-523350933124015921056811780106291161012233EBITDA-11945184023232880-125-13778236EPS(元)0.940.631.682232.86股本557557557557557207420742074207420742021A2022A2023E2024E2025E17952815542917466627273064399752376829营业收入%)8.415.621.720.618.6负债和股东杖益1317014707145811692519297향业利润(%)417.5186.4216.832.9-891.9166.8166.932.928.442.545.449.250.150.7-4.32.56.06.52021A2022A2023E2024E2025EROE(%)22.211.625.925.624.85591801274226342940ROIC(%)-4.55.713.314.715.8净利润-5773391025136317492993363140248180.280.172.968.663.4214179209242287净负债比率%)148.094.10.2-19.2-10000流动比率070.80.91.02671226628422速动比率0.50.50.50.60.7其他经营现金流339273-5000601-349-983-1199-1284091.011.4资本支出5005301050121613026.97.40.00.00.0667171717应付寒款周转率4.64.95.05.25.4其他授资现金流10955000-1562-412-828-143-3560.940.631.682232.86-2143841.003234.924.73528-783-1993-23-474.905507.189.4012.2600000000P/E-57.285.632.124.118.8其他筹资现金流-574-597-639-216-261P/B11.09.87.55.74.4-401104093112921299EV/EBITDA-2957.434.216.812.89.9数据来源：聚源、开源证券研究所请务必参阅正文后面的信息被露和法律声明