山西证券股份有限公司SHANXI SECURITIES CO.,LTD.公司研究/公司快报财务报表预测和估值数据汇总资产负债表百万元2021A2022A2023E2024E2025E会计年度2021A2022A2023E2024E2025E流动资产478353327843906311248营业收入38084446555869499036现金15951631329734894066营业成本26633070382647646161应收票据及应收账款16762309267235564543营业税金及附加3442预付账款111192187306营业费用3428343947存货13621263166818092312管理费用284344476其他流动资产191423研发费用16320022728521392295260829603466财务费用12长期投资110127159资产减值损失4311521078138917442234公允价值变动收益0000无形资产497472450427120其他非流动资产61561962264670589111852070资产总计6923104521202314714营业外收入3354流动负债18941702351139375006营业外支出1短期借款100101013341106706894118815392073应付票据及应付账款93517914541952所得税126241319其他流动负债76713211947591767100212971753307309少数股东损巷02624长期借款0142459176599612951749其他非流动负债149286286286286EBITDA827979130017142304负债合计20431988381042445315392092216股本16801680168016801680会计年度2021A2022A2023E2024E2025E资本公积14501465146514651465成长能力2282298039435291营业收入%)30.816825.030.0归属母公司股东权益48415436643275679183营业利润%)38.226433.029.634.869237627104521202314714归属于母公司净利润%)37.329430230.035.0获利能力现金流量表百万元)30.130931231.531.8会计年度2021A2022A2023E2024E2025E净利率(%)15.517.217.918.619.438242011245721714ROE(%)12.115.116.718.7净利润767100212971753ROIC(%)10.812612.513.816.2163134155205270财务费用1212资产负债率%)29.526投资损失59252.2营运资金变动-932505928314速动比率1.7231.71.7其他经营现金流5845200064144456-545-768总资产周转率0.60.60.60.7-402-141应收账款周转率2.722222.22.2应付账款周转率2.73.6363.63.6每股指标（元）0.420.550.720.93126PE52.640.731224.017.80.270.300.810.41123P/B6.457484.13.43.483.904.625.436.59EV/EBITDA43.937.227521.015.2资料来源：最闻、山西证券研究所请务必阅读最后一页胶票评级说明和免责声明2