公司报告丨公司点评天风证券TF SECURITIES财务预测摘要202120222023E2024E2025E202120222023E2024E2025E货币资金4435151225517.935915984691804.7485297948.751044.94502638.97569626183151营业本428.1041250427.61469905141516.1112.7317.7914212167营业税金及附加5075955976.63731存货21982130.14180.641904418970销售费用216.4025343234.572584628213其他76.10122.907942105499646管理费用77.4776.778047835980579873.13847.0685428931.13研发费用30.78346534.12378741800.000000.00财务费用482052)固定资产5139436733972259资产信用减值损失1.01)在建工程138010.33129714771509公允价值变动收益073010023无形资产6248927.61687投资净收益6215.13352其他998493.1078107295其他3320(2255)1712715.95125.23133.71116821194049.519954120.35142.77977.061,039.0897229987.961047.951051881301413000.00118.67000营业外支出3361170000.00000110.5662.0212539824614016117.095021100.84121.77145.77其他78.9781.707816101488798所得税3246057311895326240203.55183.94228.151084946.97947911446137.020.000000000000000.000.00应付债券0.000.000000.001084946.979479114.46137.02其他538245.3035664493419601403504245.3035.6644.93419628024239.21270.110.000000000.00202120222023E2024E2025E217.4032634326343263432634资本公积1578415784157842084%599%1037%232.13248892749129356142%10106%2091%18.62%其他0.000.000000000.00日属于母公司净利润811%-5671%10182%2075%19.71%7168271632733.08759.0977785977.061039.08972291047.95毛利率487%4387%5037%净利率1281%584%1111%1209m13.11%ROE1513%656%1293%17.62%ROIC12473%2917%8201%11100%202120222023E2024E2025E净利润46.9794791144613702资产负债率2450%2317%25.77%175225.1117.6818.061838净负债率-6636%-6370%-71.74%财务费用459流动比率3903154164.64投资损失080(35☑速动比率2843273.61325营运资金变动(125203122139其它50.700231831180417.78227736166522153.85126.9095.74201484995.10550资本支出26.66总资产周转率09508005103长期投资0.000.000000000.00其他2300903188☑0330140290355357刀27.760200A70293183125.199072202192252385243(78.04)(11827其他73610(1756司0000000.00市盈率6927343228432374(9022210807930(11850)市净率454454444180.000000.000.002.9130792227182610.0573.7625.173966324526312105资料来源：公司公告，天风证券研究所请务必阅读正文之后的信息披露和免责申明