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国金证券公司点评附录：三张报表预测摘要2020202120222023E2024E202562020202120222023E2024E2025E59.74051,26152,86457.38856.72460.99761,79511.5%27.3%应收款项7,7915,8754.7355,9847.6208.476-49.325-53,409-55,032-57,082-67,611-73,09631,36632,68732,16834,40540,75244,05889.379.9%77.7%其他流动资产19.53527,05524,27023.91329,48531.96毛利5,9186,3324,5269.34216.97521,001109,953118,481118.562121.026133,853146.12510.710.6线20.1%223%72.173.9%73.073.475.8%76.5%-173-195-191-219-279-3116.40714.51313.89013.89013.8900.3%0.3%0.3%26,34021,04021,34421,50521,713-402-616-257-332-423-4701712911.7%0.7%0.5%0.5%0.54.6114,5014,3874.680-2.548-2,769-3,658-3,3214,229-4.70542,55641,92143,87643,9074434944,8225.0%27.27.024.2%研发费用-3,263-3,121-3,072-3,454-4,398-4,8935.9%5.2%5.2%5.2%5.2%5.2%13,41710,58314,8839,1678,2605,345-3692,0157,64510,622应付款项27,12930,52527,50827,52532,60933.254n.an.a3.0%9.0%11.3%其他流动负债52,00951.75362.955397591,30812115026990,14293,11794,14392,098103,256101,554-2.2%4.0807.93210.94315.04315.04315.043-1,584-1,446-1,5270005,4626,2496,8715,6306,545229381-14-19-19-1999,684107,298111,953112,772124,535123.143735232.35130303045,77746,04145.96147,64454,14963.287236.7%7.0%108.250.44,4724,4724,4724,4724,4721762504122,1477,80610,903未分配利润6,4737,86014,36523,5030.3%0.4%0.7%3.2%9.2%7,0497,0634,5184,5184,5184,518营业外收支134791,761555152,510160,40m162,4164,93413,20190,9g3113282,1732,1527,81110,9080.5%55-96-1,301-323-1,172-1,6362020202120222023E2024E2025E17.7%29.4%5915.0%15.0%256232721,8306,6399,2720.0480.40914852.073507010010.23510.29410.27710.65312.10714.1503062141729,220.2180.453-0.0090.8771.9401.6400.3%0.0000.0350.0300.0300.0300.0300.670.373.84%12.26%14.65%2020202120222023E2024E2025E0.200.13%0.111.11362%2562328721.8306.6399,272-0.36%-1.350187010003,7693,6121.7161.8792,046主营业务收入增长率138.7-0.31115327.341124-302-1,007-2.1341.0151,011942N/A-20.9638.94%-2.749-812-2670-638854-4,928-24.45-30.0-19.62964.46262.9139.597441243.87%5.18%1.27%11.08%4.23%-2.087-1,154,204-2,315-2.5151,057-1,4801,168541-19-1921.627.123.123.023.023.0-1,527-1,923-8,30483030141.1218.9215.1220.0220.0220.0-8341-2,304103.0156.8150.8150.0150.014003,8310000149.5143.6116.7105.883.375.37,985-1661-907-2,915其他-1,174-268-600-1,162-1.093-65.5-70.0-62.94w-62.73-61.36767,3-2,06811.90.52.0-16.7-51.0-39.4-693-62182165.36%66.89%68.92%68.37%67.98%64.49%2
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