国金证券公司点评附录：三张报表预测摘要2019202020212022E2023E2024E2019202020212022E2023E2024E6037029901,371,7186461,0261,1851,50816.5%6.5%31.5%23.9应收款项219282381354378412-412-481-650-684-864-1,02818127225127830168.3%62.3%59.9%1224295291291292毛利1912213403705236905601,1331,1371.9212,1332,51231.4%35.1%37.7%40.1感资产55.65868.3%70.7-700000.7%3914227788793225-25-28-25-32-3838.332802624.2%2.8%2.3%456120116111-25-2729-36-43443488796894881,043销售收入3.9%2.9%研发费用-31-33-4951-65-795.1%4.7%4.9%4.7%4642230106130230260383521应付款项9210112611513315717.6%18.523.224.7%30.3%其他流动负债1051382532582678-6-11223282392633613904251.30.13为-465500031436939943311111.3074942.4462.7223,1230.0%0.2100100113113113100121244277405548未分配利润160245418582858126016.6%17.324.7%26.3%29.2%31.9%00000营业外收支12112221.00716210112325527940755016.8%17.6线25.26.5%29.4%-13-16-36-52-702019202020212022E2023E2024E12.8%12.8%12.8%1072222443554801.179107422224353.5504.7990009.04213.07314.9452445527.21731.2271072222444801.2461.6153.0933.6034.79214.7%15.3%22.4%27.9%0.0000.0000000.7000.7000.70013.04%8.22%14.87%13.0415.372019202020212022E2023E2024E8.76.63%11.50%8.65%11.38%13.50%1072222443554812.07%8.489.2512.2214.5200000516090321645541.645315423EBIT增长率34.40%22.90%76.41%13.34%47.0436.27%124-2831.81%21.50%106.8245.78%35.18%12411623484065409.360.97%19.19%45.62%10.86线13.95%资本开支82345-168-138产力0-2400058.256.47044040.036.000111143.7128.9127.3135.0120.0110.0-82-87-584-167-167-13789.855.055.0050788226.8206.1175.1169.9128.2其他-79-79-13.31-48.43-29.1-6245-48-79-7913.422.9384.5-21.3-16.9-18.8-21487-47183615932332.68%19.39%22.68%13.12%12.78%12.18%2