民生证券INSHENG SECURITIES中天科技(600522)/通信公司财务报表数据预测汇总2022A2023E2024E2025E主要财务指标2022A2023E2024E2025E营业总收入40,27146,07053,19859.920成长能力(%)营业成本32,90937,05042,68647,973营业收入增长率-13.1014.4015.4712.64营业税金及附九加174193218240EBT增长率461.4330.7619.3515.02销售费用9051.0371,1861,330净利润增长率1663.9829.0621.5915.59管理费用7018299151.019盈利能力(%)研发费用1,6401,86621282,367毛利率18.2819.5819.7619.94EBIT3,9635,1826,1857,114净利润率7.989.009.489.73财务费用-451219664总资产收益率ROA6.607.868.538.83资产减值损失-122-84-93-99净资产收益率ROE10.7112.1412.9713.14投资收益153161176180偿债能力3,9055,1256,1617,122流动此率2.072.442.632.85营业外收支4666速动比率1.621.972.152.39利润总额3,9095,1316,1677,129现金比率0.841.071.22144所得税496718802927资产负债率(%)35.6832.2731.0229.39净利润3,41344125,3656,202经营效率归属于母公司净利润3,2144.1485.0435,830应收账款周转天数96.8595.0093.0090.00EBITDA5,1056,3987,4908,516存货周转天数60.3255.0053.0050.00总资产周转率0.850.910.950.96资产负债表（百万元）2022A2023E2024E2025E每股指标（元）13,69816,40520,300每股收益0.941.221.48171应收账款及票据11,91313,1331475815,970每股净资产8.7910.0111.3913.00755815896959每股经营现金流1341.631.662.075,4385,4996,1056,473每股股利0.100.100.100.10其他流动资产1,9341,6531,6861700估值分析流动资产合计33,73937,50543,74650.593PE1512108长期股权投资1,2681,4291,6051,784PB1.61.4121.1固定资产8,8209,2239,5909,955EV/EBITDA7.765.574.243.12无形资产1,0021,0171,004992股息收益率(%)0.710.710.710.71非流动资产合计14,93115,27515,36115,444资产合计48,67052,78059,10766,037短期借款3,6833,3023,3023,302现金流量表（百万元）2022A2023E2024E2025E应付账款及票据8,3469,03410,05810,909净利润34134,4125,3656,202其他流动负债3,0133,294折旧和摊销1,1421.2161,3051.402流动负债合计16,27415,34916,65317,724营运资金变动-240-497-1.256-803长期借款134554554554经营活动现金流4,5655,5785,676其他长期负债9601,1311,1301,128资本开支-1901-1,184-1,214-1,300非流动负债合计1,0941.6851,6831.682投资-474300负债合计17,36817,03418,33619,406投资活动现金流-2,265股本3,4133,4133,4133,413456000少数股东权益1,3061,5702,264-114-1,28000股东权益合计31,30235,74740,77146,631筹资活动现金流-645-581负债和股东权益合计48,67052,78059,10766,037现金净流量1,7872,7073,8955,190资料来源：公司公告、民生证券研究亮预测本公司具备证券投资咨询业务资格，请务必阅读最后一页免责声明证券研究报告