中国银河证券CHINA GALAXY SECURITIES公司点评/旅游零售行业公司财务预测表2022E2023E2024E20212022E2023E2024E流动资产38541.6939830.1468817.3886650.94营业收入67675.5254462.9291620.59111933.30现金16856.2030182.7537132.2063357.59营业成本44882.3638645.1857720.9769398.65应收账款105.99475.69166.93793.94营业税金及附加1839.441416.042382.142910.27其它应收款839.53466.242397.911186.75营业货用3860.943763.397329.6510074.00预付账款347.99412.85600.63788.27管理货用2249.861688.353389.963581.87存货19724.707625.3033486.8227541.30财务货用42.520.000.000.00其他667.29667.32-4967.11-7016.92资严减值损失-498.93-1633.89-916.21-1119.3316932.0316932.0316932.0316932.03公允价值变动收益0.000.000.000.00长期投资991.69991.69991.69991.69投资净收益162.3354.4673.3089.551843301843.301843.301843.30营业利润14804477588.3920138.2125162.61无形资产2401322401.322401322401.32营业外收入17.1010.0010.0010.00其他11695.7311695.7311695.7311695.73营业外支出20.1620.0020.0020.0055473.7356762.1885749.42103582.97利润总额14801.407578.3920128.2125152.6117136.1314911.6632449.973182147所得税2436.771136.764025.645030.52短期借款411.34505.03598.73659.18净利润12364.636441.6316102.5720122.09应付账款5879.913857.5412278.358625.682710.891417.163542.564426.8610844.8910549.1019572.8922536.62归属母公司净利润9653.745024.9612560.0015695.233546203546.203546.203546.20EBITDA16120.319167.8220981.1226192.39长期借款0.000.000.000.00EPS(元)4.672.436.077.59其他3546.203546.203546203546.2020682.3418457.8631342.5429054.0120212022E2023E2024E5172.606589.7510132.3214559.18营业收入28.67%-19.52%68.23%22.17%29618.8031714.5644274.5659969.79营业利润52.72%48.74%16538%24.95%55473.7356762.1885749.42103582.97归属母公司净利润5723%47.95%149.98%24.96%毛利率33.68%29.04%37.00%38.00%2022E2023E2024E净利率14.26%9.23%13.71%14.02%8328.8216117.116792.4626085.38ROE32.59%15.84%28.37%26.17%净利润12364.636441.6316102.5720122.09ROIC30.31%17.77%27.96%26.12%1521.940.000.000.003728%32.52%36.55%28.05%财务货用206.030.000.000.00净负债比率59.45%48.19%57.61%38.98%-16233-54.46-733089.55流动比率2.252.672.483.40营运资金变动-6494.048086.05-10163.014923.511.042.091.422.54其它892.601643.89926211129.331.220.961.071.08-2317.5344.4663.3079.55应收帐款周转率638.53114.49769.3417194-2153.20-10.00-10.00-10.00应付帐款周转率11.5114.1289217.28长期投资-187.980.000.000.00每殿收益4.672.436.077.59其他23.6454.4673.3089.554.037.793.2812.61-3817.04-2835.0293.7060.4514.3215.3321.4028.99短期借款-6.0393.7093.7060.45P/E39.9476.7330.7024.56长期借款0.000.000.000.00P/B13.0212.168.716.43其他-3811.02-2928.710.000.00EV /EBITDA25.8748.8821.0315.851997.8513326.556949.4526225.38P/S6.598.194.873.99请务必阅读正文最后的中国银河证券股份有限公司免黄声明。2