附：财务预测摘要2021A2022A2023E2024E2025E2021A2022A2023E2024E2025E333144973102368254972330028430396555293575179现金14512158000营业成本1346619084261523402348415应收票拇及应收账款387181122167营业税金及附加3524125757671089其他应收款7765133132244营业货用607299132188预付账款3062995445811017管理货用59867694312591787存货9401348178822913513研发货用133151210281398其他流动资产520556556556556财务货用25923459110161509410425308269830887781192020000长期投资0000其他收益24202122固定资产2363026412418955897885403公允价值变动收益00000无形资产46004664524259466408投资净收益-00其他非流动资产128122200622693238542739135-102-20-244437457578729329246012469984217720110911546721798797611518187502767942774营业外收入4166短期借款0079751308423928营业外支出341419400400400应付票拇及应付账款16781847273981217307106971507321404其他流动负债7082984089281185615060所得税105010051427204228785708121861206511467118747070630392701303118527长期借款436110912107751018610588000其他非流动负债1347127412901282128670706303927013031185271368423704308143914654648EBITDA8478809113627196502809600000EPS(元)0.960.861261.782.5373337333733373337333资本公积726872687268726872682021A2022A2023E2024E2025E留存收益16193194242534034209472843069033875421185331370051营业收入%)46.322.039.533.542.044374575787293292460124699营业利润%)52.1-8.343.739.540.952.9-10.947.140.642.2毛利率(%)42.232.934.135.735.6净利率%)30.322.223.424.624.62021A2022A2023E2024E2025EROE(%)23.018.622.024.426.464886626118142036626809ROIC%)18.513.815.117.118.0净利润707063039270130311852711312923633594522830.841.242.342.343.8财务货用25923459110161509净负债比率%)23.440.453.751.956.8投资损失00369流动比率0.40.40.20.10.1营运资金变动-2533-179342627141530速动比率0.20.20.00.00.0其他经营现金流157817541824-5458-11177-19128-22553-356670.60.60.60.60.7资本支出53579977167481894830424应收账款周转率799.5520.7520.7520.7520.7长期投资0-435000应付账款周转率16.214.814.814.814.8-100-1635-2380-3606-5243-27304469-2486-3073-19860.960.861261.782.53短期借款-4000333-1510.880.901612.783.66长期借款-3176551-137-5894034.184.625.747279550000000P/E16.017.912.26.1-2013-2082-2682-2333-2389P/B3.73.32.72.11.6-1702-81-97995260-10844EV/EBITDA14.215.710.07.254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拔露和法律声明2/4