中国银河证券CHINA GALAXY SECURITIES公司点评报告附录：公司财务预测表（百万元）2022A2023E2024E2025E2022A2023E2024E2025E1403.541701.002078.452517.01流动资产1007.401059.371388.731767.23营业成本947.771080.141317.741595.78现金552.51535.07797.801073.13营业税金及附加13.5815.4319.5423.620.781.091.241.56174.53199.02245.92301.76其它应收款1.601.502.102.38管理货用58.1169.0485.34103.24预付寒款14.73104.0773.72121.51-24.93-6.62-9.92-13.91存货289.60269.46365.69420.47资产减值损失0.00-0.09-0.05-0.07其他148.18148.18148.18148.180.520.000.000.00非流动资产1369.431581.601967.101.521.281.952.33长期授资0.000.000.000.00营业利润279.64386.94479.82574.30固定资产673.05790.26869.35967.503.553.003.003.00无形资产139.68171.06187.45211.34营业外支出2.700.000.000.00其他56.71620.28711.08788.26280.49389.94482.82577.302376.832640.973156.613734.33所得税59.4685.98105.61125.31流动负债566.14526.31664.75790.48净利润221.03303.96377.21451.9975.000.000.000.00少数股东损益0.000.000.000.00应付寒款212.46213.53277.95326.03归属母公司净利润221.03303.96377.21451.99其他278.68312.79386.80464.45EBITDA262.53379.40450.30526.74非流动负债81.8081.8081.8081.80EPS(元)0.731.001.241.490.000.000.000.00其他81.8081.8081.8081.80责债合计647.93608.11746.54872.28少数股东杖益0.000.000.000.002022A2023E2024E2025E1728.902032.862410.072862.06经营活动现金流259.52326.35505.69529.582376.832640.973156.613734.33净利润221.03303.96377.21451.99折旧摊销68.3958.6361.4460.032022A2023E2024E2025E1.911.500.000.00营业收入-4.50%21.19%22.1%21.10%-1.52-1.28-1.95-2.33营业利润-17.90隋38.37%24.00%19.69%营运资金变动-27.50-34.2371.7922.57归母净利润37.52%24.10%19.82%其它-2.79-2.23-2.79-2.68毛利率32.47%36.50%-209.02-267.29-242.97-254.25净利率17.87%-190.55-268.57-244.92-256.58ROE12.78隋14.95%15.79%0.000.000.000.00ROIC12.30%其他-18.471.281.952.3327.2623.03%23.36-25.19-76.500.000.000.731.001.241.4975.00-75.000.000.00每股经营现金0.861.081.671.750.000.000.000.005.706.707.949.43其他-100.19-1.500.000.00P/E32.1623.8919.2516.0625.31-17.44262.72275.33P/B4.113.573.012.54EV/EBITDA25.2617.7314.3511.755.174.273.49请务必阅读正文最后的中国银河证券股份有限公司免责声明。2