附：财务预测摘要2021A2022A2023E2024E2025E2021A2022A2023E2024E2025E2101124747265063149933419586916301073644838179497070465577722174198784营业成本5413058233677977718087401177812344972519营业税金及附加232216291331376其他应收款2430384279782995710481140预付寒款39425267402402442503570存货1254916799173692152822520研发费用3131394450其他流动资产117614871487148714872672041681901264125811321086105200000-120-180-225104127100100100固定资产343334377405430-18-103无形资产58564431171466-1206045其他非流动资产863867831830831304002227526005276383258534472323230173904457352891010213463122101421412567营业外收入131277146893689385906893营业外支出3333应付票据及应付寒款524815744103197932423028391445835298其他流动负债18635754457345934695所得税7947609781146132513155615114884572447226829353437397490020012897少数股东损益571568734859993其他非流动负债415360360360360187617002201257829801141614023127211470213025EBITDA3625336644185083578516681853258734464440EPS(元)3.593254214.935.70股本5235235235235234674674674674672021A2022A2023E2024E2025E81959137111591362716611919110128123291443617007营业收入%)13.57.416.913.813.3负债和股东杖益2227526005276383258534472향业利润(%)15.6-6.729.417.115.718.329.517.115.67.87.67.97.98.04.23.64.04.14.22021A2022A2023E2024E2025EROE(%)22.518.919.719.218.519909643219-7783761ROIC(%)24.819.627.324.228.4净利润24472268293534373974677576506051.353.946.045.137.8267204184168190净负债比率%)20.123.97.7-146612045流动比率2.11.82.22.7-663-2027-974492-508速动比率0.80.50.60.60.8其他经营现金流-114378000-53-71-64-722.82.62.72.82.8资本支出557572358.5203.4203.4203.4203.4-72121206045应付寒款周转率107.887.087.087.087.0其他授资现金流14310-120-60-45-560-2359-15056576283.593254214.935.701464-82101697-16973.801.846.15-1497.190-700-23-3117.5719.3623.5727.6032510000000000P/E17.118.814.512.410.7其他筹资现金流-2024-838-1455-23311100P/B3.53.22.62.21448-14691644-14993062EV/EBITDA9.810.87.87.26.0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