国金证券扫码获取更多服务公司点评附录：三张报表预测摘要2020202120222023E2024E2025E2020202120222023E2024E2025E4,2872.3172,9452,8423.28629.816.79.8应收款项3.7033.5293,3154.7815.333-13,253-15,372-14,691-17680-20,244-21,9572,8754,5344,4725,3285,5465,77582.7%80178.6线77.7%其他流动资产1.163817814875933毛利5,1303.2072,3154,3945,5066.30411,90111,54311,54913,76515.04015,87727.9%17.3%13.621.4%223%感资产40.33.8%30.9%33.234.7%-105-100-82-110-129-1414978688488488480.60.5%0.5%0.5%13,42917,56020,90222,79123,376-963-529505-662-79890445.51.4%55.%53.9%53.5%5.2%2.8%3.03.2%770902933915896878-509-642594-773-90198917,39822,595,83327,73628,30028,7712.8%3.5%3.5%3.53.5%66.2%66.8%53研发费用-763-934-748-1,184-1,3285.0%4.5%4.7%2,9266,4656,8957,2686.2504,8702,7901,0023861,8552,4932.941应付款项7,3059,0997,5339,85311,23912.14115.2%5.4%2.3%9.7%10.4其他流动负债935578820392-134-56-479-465-39711,16616,14214,95617,82718,30917,9100.7%1.0787191.9982.14821482.148-197-310-284000538901,1801,1721,1671,163525012.78717,75118.13421,14721,62421,222-29-70016.50616,38319,24220.34821.71123.420n.an.a0.01,3741,3721,4771,4771,4772,3197301571,3772,0282,544未分配利润8,2198,3248,3869,31110,67312.6%3.9%0.9%7.9%营业外收支-8-16000043.340446482,3117141571,3772,0282,54412.6线3.8%0.9%7.9%9113555-81-1022020202120222023E2024E2025E3.9%-10.5%4.0%2,2207892921,3221,9472,4421.6170.57501970.895131815400000012.01811.94013.03013.77914.70215.8502,2202921,321,93.0570.3240.1392.2713.0853.2954.2%1.7%0.4900.1600.0600.2680.3960.49613.45%4.816.49%8.97%10.432020202120222023E2024E2025E7.50.75.47%2.2207892921,3221.9472.44213.07%4.70%5.987.95%9.270000001.3591,5041,5421,3311.4351,5301.07-841665256-20-73521513452EBIT增长率30.45%-61.45330.1334.37%17.95%82755517966044233.13%-64.4-63.0347.3225.43%445,35的10.23%16.52%9.5011.02%4.43%-2,426-4.784481-3.234-1.991-2.000产力12-199-680054.357.161.560.058.056.06-1524400077.688.0111.9110.0100.0792-262966.06401,97902,38518100234.6244.0283.3216.4179.6157.1-2.6963,2032,318523-1,018-1,37其他-428-919-1.097-1.18529.57%30.7732.18%23.43%14.56-215-2,1157.17.56.93.95.47.4570-9644930243.64%52.00%48.51%50.96%49.89%47.53%2