浙商证券中国中免(601888)公司点评表附录：三大报表预测值资产负债表利润表(百万元)20212022E2023E2024E(百万元)20212022E2023E2024E38542425256225784992管业收入676765446389006124275现金16856251673467649027营业成本448823747156519755070000营业税金及附加1839152522803480应收账项10618633538438614451885616342其它应收款83885513211778管理货用2250247334184387预付账款3483954996830218312373存货19725155312497832616财务货用214)(458)(572)其他6693924485035221176269656非流动资产16932142131618818018公允价值变动损益0000000投资净收益162162162162长期投资992679821831其他经营收益2791882282321843239230541480477141820124497无形资产2401271627362817营业外收支(3)(3)(3)在建工程28902860313534151480177111819824494其他8806556564427188所得税2437151334264484554745673878445103009◆利满1236561981477220010171361428520911249382711117825113402短期借款411351393385965450201226016609应付款项58805188768710205EBITDA1504979171833224498443153EPS(最新摊薄)4.672.435.938.03其他10836870312799142953546134716582184主要财务比率长期借款000020212022E2023E2024E3546134716582184成长能力20682156322256827122营业收入28.67%-19.52%63.42%39.63%51736350886112263营业利润29.01%-47.89%135.94%34.59%归属母公司股东权29619347554701663624归属母公司净利润21.87%-48.00%144.22%35.46%554745673878445103009毛利率33.68%3120%36.50%39.24%现金流量表净利率18.27%1138%16.60%16.10%(百万元)20212022E2023E2024EROE31.67%1323%25.28%25.21%832999361020314995ROIC34.71%16.40%29.20%29.24%净利润1236561981477220010债债能力折旧摊销48041047251937.28%27.55%28.77%26.33%财务货用(43)(458)(572)9.46%5.54%4.79%4.80%投资损失(162)(162)(162)(162)流动比率2.252.982.983.41营运资金变动(477)2691)52872421速动比率1.101.891.782.10其它(3834)6397(9708)(7222)(2318)(873)(1367)(1433)总资产周转率1.390.971321.37(1910)(1119)(1228)应收账款周转率576.7974.2256.6658.27长期投资(116)222(109)应付账款周转率8.796.778.788.44其他292)(439(138)(3817)6737904.672.435.938.03(60)42(8)4.034.804.937.25长期借款000015.1716.8022.7230.75其他(3811)(692)63021948311950914351P/E39.9476.8031.4523.21P/B12.2811.098206.06EV/EBITDA28.0546.5819.7714.37http://www.stocke.com.cn请务必阅读正文之后的免责条款部分