附：财务预测摘要2021A2022A2023E2024E2025E2021A2022A2023E2024E2025E387736674555522562704451431353006082688319071443183624612849营业成本16061607190821772444574619753842987营业税金及附加3761其他应收款606610112717651711207823722678预付寒款479471117329279334380427存货11491179148315321911研发费用7683101116131其他流动资产111314287237279334149-572241232318001636140875-147-147-147248237282310126100100100固定资产446454444417-19-10-10无形资产2142241971761581913212428其他非流动资产1332144473352361185990635568617678625604994116517731832184519162148营业外收入1314131313278154170201营业外支出2211应付票据及应付寒款5075306848246166078369971168其他流动负债11861024106510611123所得税136131215252781109680479476656782917046342515少数股东损益172833其他非流动负债646546445963278831851194220092227EBITDA7167339491210105114138166199EPS(元)0.320.430.520.61股本145914591459145914597697697697697692021A2022A2023E2024E2025E1933170618752118237941613935427546865252营业收入%)17.5-3.122.914.813.261185990635568617678향业利润(%)21.2-3.538.219.217.226.7-1.237.819.217.263.962.764.064.264.510.410.611.912.412.82021A2022A2023E2024E2025EROE(%)11.814916.116.8619515464761533ROIC(%)10.010.413.915.015.6净利润47947665678291715215014810110930.332.430.629.329.0-497净负债比率%)39.7-24.645.347.1-19-13-21-24-28流动比率2.22.02.9-142-335-297-53416速动比率1.41.31.61.81.9其他经营现金流15227149235-48838213998080.70.90.9资本支出146199-123-377.97.27767.5310-266-21-28-28应付寒款周转率3.63.13.33.33.2其他授资现金流691-5562377520344-532452-276-2430320.310.430.520.61-2319817300.420.350.320.52037046-12-102.852.702.933213.60242000483000P/E18.218.413.411.29.6其他筹资现金流-357-776-316-263P/B2.02.12.01.81.61198-503394625388EV/EBITDA9.610.17.26.04.9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