国元证券GUOYUAN SECURITIES2021A2023E20222023E2024e2025E1740.161693.061713.212140.722650.98555.21450.92974.681174.961030.711205.551649.952062.562561.71116.33111.83152.92191.48227.120.000.003753.055177.941.971.135.417.496.76160.96144.68221.7828266340.74141610.21443555.5365.8588.4382.56155.95187.992682.756.508.149.6532.5828.1930.5938.99640.63473427.007.007.00-17.79-32.55-17.32-7.96-8.72267.31257.59235.17247.70257.38-0.350.04-0.13-0.051.380.591.001.201.5018.432.45Q.000.00179.08171.26182.73193.15202.577.086.344471.083.570.632.262.262.262.26200.57129.55313.89371.1386.21834850.1751.0951.052.370.751.471.531.252007.471950.661949.372388.422908.350.811.171.291.45859.31887.811051.721245.96202.13128.42314.14370.930.000.0029.1616.3533.0940.0047.2313.3211.3915.5719.5023.1317297112.07226.79274.14323.70847.92872241032.221223.832161.212963.5028.7521.527.007.00170.81110.85224.34271.17320.200.000.00EBITDA196.62111.61250.97315.60373.0428.7521.527.007.007.002030.941.902302.71925.40830.84894811058.721253.96少数股东权益4.253625.079.0312.5384.34118.08118.08118.032021A2023E2024E2025502.72470.16470.16470.16470.16475.32459.06447.25718.421038.6246.62-18.7827.4520.551077.811056.201641.8555.53-35.4120.9218.232007.471950.66194.372388.4260.05-35.10102.3720.8818.0379.0575.1980.0080.3580.672021A2023E30.7624.5929.3327.8227.25377.3571.63207.70423.7815.8510.4021.4020.5319.50172.97112.07226.79274.14323.70134.4864.93116.69131.84143.9113.8414619.6的10.63-17.79-3255-17.32-7.96-8.7246.1045.1645.9044.3343.12-7.08-634447-3.571.021.100.000.00213.57-30.28-37.80-10.981.941.971.932.131.8414.1231.80160.00192.001.941.971.922032.12-1071.51147.96471.36-20.12-16733598.3120.0020.0020.000.350.230.390.44618701.200.301919.24801.532131.582131.582131.58-449.224.00483.321.083.5710.369.0611.3410.92452.06-142.48-234668.969.72.000.000.001.450.941.902302.710.000.003.200.611.763.5921.0933.740.000.009139.0311.1813.909433-32.560.000.00-143.65-234.669.72P/E27.2842.0320.7717.1814.55-242.1077.11444.4041262499.14P/B4324.374443.532.8415.0126.4411.769.357.91请务必阅读正文之后的免责条款部分