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2020202120222023E2024E2025E2020202120222023E2024E2025E8321.1455,5045,1265.2906,21831.4%27.3%23.7%21.8应收款项564659815-5,176-7,2219,508-12,026-14,724-17,7921,69123,1373,6244,4375,11874.3%78.0%775其他流动资产1,2762389499741,014毛利1,7892.0512,6753,4864.4585,5694,36110,29210,35711,51613,34225.7%22.1%22.0%22.5%23.2%238%感资产58.49.7%63.-59-90-121-1471120.60.60.7%2,4143,2154,1044,8525,5256,123-644-849-873-1,117-1,400-1,70528.9%2.629.0销售收入9.2%9.2%7.27.2%7.3%2189911,5781,6091,641-296-320-342-434-556-7014,4115,9016,4457,1497,778销售收入4.3%3.4%2.8%2.9%50.3%36.8研发费用-74-88-93-124-173-2340.9%0.9%2092754947917597307361,2771,7132,2082,782应付款项1,5422,1152,2012,9523,5364,27610.5%7.9%10.5%11.0%11.5%11.9%其他流动负债7619051,0941,338-4-1751481541712,5093,1503,8633,9365,673-0.6-105014122-15500903336430113023.4133,6284,2953,9394,6505,676183030305,07311.67912.62713,76215,17311.2%0.5%2372932932938601,3401,8962,3972,987未分配利润1,9062,3762634,1645,2997099.3%11.0%12.2%12.5%12.8%070220235252271营业外收支71987505050161947818791,4271,9462.4473.03711.2%9.5%13.05-178-193-309-428-538-6682020202120222023E2024E2025E22.7%21.21.7%22.0%22.0%22.0%6046871,1181,5181,9092,3692551279175451206.4508.0130516171915.56520.75739.82143.05446.92451.7316046822.8092.2024.7986.0296.9639.8538.7%9.7%0.3760.4740.7422.0482.5803.20516.39%13.454311.89%15.492020202120222023E2024E2025E8.517.78%808.94%10.14%11.13%6046871,1181.5181.90911.93%9.977.910.32%0516161918326541537444752132.25%331231392732666-24-14283EBIT增长率0.85%73.40%34.15%28.92%25.98%-407-101192318661.73%13.0061.37%36.40%25.97%24.23%66624.84%23.60%84.62%3.76%11.08%13.16线资本开支-908-1,070-1061-1,101-1,101产力-52662-3.733-313.617.519115015.015.024308300120.7103.8106.5110.0110.0105.0-1.220-2-174.062.762.060.060020470106.6114.1100.289.279.269.77266343其他-145-202261-612-759942-44.4-4241644-76-1,112-821-899179.41,082.9-16.9-11.6-14.3-16389-37816543.09%41.36%26.52%23.45%24.91%2