附：财务预测摘要2021A202242023E2024E2025E2021A2022A2023E2024E2025E193721413105390351785376657678779225756982120114391746营业成本31903189374643625016426472626689851营业税金及附加1414172023其他应收款1145415119314511575194023712804预付寒款178127246201323132171205240存货422581659766研发费用126149171205240其他流动资产4223232334505010081101122113281411-10-10-10691262116固定资产7177288349321014000无形资产108119121121-01500其他非流动资产1221951921850294540494433531424921467585795195140012631474营业外收入00200295461359295营业外支出21应付票据及应付寒款463516836247214502675857其他流动负债288184199343所得税3842134170791101081071042091724035426880171513少数股东损益00其他非流动负债9322718440354268810301105150913701578EBITDA3333005867749644842424242EPS(元)0.600.491.061431.82股本3873783783783783851571571571572021A2022A2023E2024E2025E1391157519642492316918672095249830213694营业收入%)17.422.319.817.1负债和股东杖益29453242404944335314향业利润(%)62.0-13.7134.134.626.9-59.3-19.1118.834.626.938.440.743.044.645.64.03.2616.97.52021A2022A2023E2024E2025EROE(%)10.98.015.917.718.4235373333630656ROIC(%)6.613.115.516.5净利润209172403542688969611313435.034.137.330.929.7净负债比率%)-24.8-28.7-33.637.6015000流动比率2.02.202.52.6-121-36-208-216速动比率1.41.51.81.9其他经营现金流17119000-151-184-213-220-2181.81.9资本支出22513820521321011.512.012.012.012.057-51-88应付寒款周转率9.69.09.09.09.0其他授资现金流1600-18914-67-70-670.600.491431.82-14295166-102-640.620.990.881.671.7317-124.935546.607.989.7699000109-22800P/E32.339.918.213.610.7其他筹资现金流-124-23133P/B3.93.52.92.42.0-123185340371EV/EBITDA20.822.611.48.26.2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