附：财务预测摘要2021A202242023E2024E2025E2021A2022A2023E2024E2025E116215311984234230069481075163022262755136224340464574营业成本7348161239165720282093242535营业税金及附加61115其他应收款32738151733543预付寒款4310311818319049517183存货40493011331392研发费用2933415055其他流动资产358254546515777-0224868226287411514579-922-28011153固定资产181177297395456000无形资产231919191813其他非流动资产90013891818239528563585108139413637968136015581940营业外收入00006818811256营业外支出101应付票据及应付寒款22229600108140213313412其他流动负债415672679677684所得税161929435743333921211852693550000少数股东损益2-2其他非流动负债4393121186272358641971136315611943EBITDA128157255392519904-7EPS(元)0.340.440.680.99131股本2322322322322322402402402402402021A2022A2023E2024E2025E2673755437871114738847103412981649营业收入%)29.013.451.636.623.813891818239528563585향业利润(%)15.128.453.546.531.716.829.753.845.731.922.524.124.025.626.49.711.211.312.112.92021A2022A2023E2024E2025EROE(%)12.414.317.920.821.670-395120-71ROIC(%)14.820.715.118.417.7净利润92121185269355242446.253.456.54.754.20や4868净负债比率%)-17.7-26.132.441.7-13流动比率1.81.51.5-66-88-611-213-520速动比率1.10.80.70.70.7其他经营现金流15-15-22-281-20-149-141-1170.70.70.80.9资本支出1516148141117应收寒款周转率5.14.20.00.00.00444应付寒款周转率14.20.00.0其他授资现金流1643-16-55-760.340.440.680.99131006812003750220.26-1.440.440.26000002.703.093.774.746.02000000000P/E44.334.122.215.211.5其他筹资现金流3-16-703255451P/B5.64.94.03.22.5-566-76-265EV/EBITDA26.320.915.110.08.0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