附：财务预测摘要2021A202242023E2024E2025E2021A2022A2023E2024E2025E5056603178609328121184613694799781326617044799758499663852营业成本373355767992105731355014302035294236754826营业税金及附加26445772其他应收款152897133178236303预付寒款166357395605680214312429564716存货14821750288332464609研发费用225306429557716其他流动资产1167112311231123112328-0-28101123503302431353906537-390000013202124固定资产168221273057405851372无形资产228276297313335522其他非流动资产4419591019106627117406933312173147181865531153791012161623327147526674819510780营业外收入0000032752690010701566营业外支出1013620应付票据及应付寒款2574369252906592863630252489411991603其他流动负债370534534579所得税165189120160383452632644473805144347654355少数股东损益22其他非流动负债6789898928447180110741435365452037238882711424EBITDA49377711741597212947505467EPS(元)0.580.971.642202.95股本375487487487487222121082108210821082021A2022A2023E2024E2025E1115147320122780385637054079488058327164营业收入%)25.350.643.633.028.574069333121731471818655향业利润(%)8.172.569.433.733.410.265.770.234.033.719.119.719.920.320.56.26.88.08.42021A2022A2023E2024E2025EROE(%)7.611.516318.320.021175551314121328ROIC(%)6.59.614.815.8净利润2864738051079144317422023833544749.355.85960.061.2-281011净负债比率%)3.99.020.221.5流动比率1.51.1-291-39-540642速动比率1.00.80.70.70.6其他经营现金流191036971-836-814-1237-1400-15780.70.81.01.0资本支出6119891249141315944.24.4444.44.4-270170000应付寒款周转率2.52.5252.5其他授资现金流461316-151-167436-18-580580.971.642202.95-154193751694970.431.551052.902.73-1764768127.6010.0111.9714.70112000-112000P/E75.445.526.720.014.9其他筹资现金流61-412-923-567P/B5.85.34.43.73.0-780-215-11595EV/EBITDA43.328.019.114.110.8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