附：财务预测摘要2021A202242023E2024E2025E2021A2022A2023E2024E2025E243531803388433846952623366643535229619844373186810431236营业成本198628723400407348229711421142019922053营业税金及附加36495567其他应收款1191420や373946预付寒款23203042234279324378存货463593841933研发费用97128155180211其他流动资产52540639841941262617150815358597966817333-16200920502306258728862735313131固定资产1947195623182779321497无形资产27528128927826827421722247266其他非流动资产8511070106710379640751585389367110191202845954495027173326369047355057营业外收入564469970096412731346营业外支出0应付票据及应付寒款14111937202727222900463549683819954其他流动负债608688699740810所得税52467689684576569562518411503625743865471312306298254少数股东损益17其他非流动负债21426326326326342051264276088434023901425952975574EBITDA8339581039126514861343-30-49EPS(元)1.111351.692.00233股本361380380380380183520142014201420142021A2022A2023E2024E2025E1860223926763197380241014633512157536503营业收入%)18.339.718.820.118.57515853893671101912028향业利润(%)21.125.019.916.516.221.825.418.416.324.321.721.922.122.216.014.014.714.514.32021A2022A2023E2024E2025EROE(%)10.010.912.213.013.4341415278891211ROIC(%)8.59.210.010.511.0净利润41150362574386530936831839547645.345.745.48.146.3净负债比率%)21.610.812.789-274-217-228-247-266流动比率0.91.00.90.9-210-313-3698速动比率0.70.80.70.70.7其他经营现金流4225-2-27-32-126-705-844-8550.40.50.50.5资本支出209330683816828333.33.33.33.3844025281-3002.8323.232其他授资现金流123234253273-31-249-1802361.111351.692.002.33-314264309730.901.092.183.19-108-1586-710.6712.1913.4815.1417.111819000158179000P/E16.613.710.99.27.9其他筹资现金流-177-73-507482-265P/B1.71.51.41.2-86260-127-135120EV/EBITDA9.47.87.36.15.1数据来源：聚源、开源证券研究所请务必参阅正文后面的信息被露和法律声明