拓市场、活机制保障持续高增长，营收与归母净利润皆创历史同期新高

1 ◆ ◆ ◆ ◆ ◆ “” 利润表（百万元）2022A2023E2024E2025E 营业收入2236.252881.293682.204824.54 减:营业成本969.561263.351617.862130.36 营业税金及附加17.0819.6125.0632.83 销售费用446.54561.85699.62868.42 管理费用184.42201.69239.34289.47 财务费用-14.584.78-0.59-3.68 资产减值损失-4.71-14.91-14.83-19.73 加:投资收益23.5620.6720.6720.67 公允价值变动损益-7.135.005.005.00 其他经营损益0.000.000.000.00 营业利润349.20478.99615.46821.41 加:其他非经营损益0.000.000.000.00 利润总额353.25478.34614.81820.76 减:所得税-7.153.790.000.00 净利润360.40474.55614.81820.76 减:少数股东损益-0.71-1.82-2.36-3.14 归属母公司股东净利润361.11476.37617.16823.90资产负债表（百万元）2022A2023E2024E2025E 货币资金1087.991216.071506.531844.54 应收账款和预付款项834.761062.681358.071779.39 存货425.12520.24666.22877.26 其他流动资产255.15257.23328.73430.71 长期股权投资58.3768.3478.3288.30 投资性房地产0.000.000.000.00 固定资产和在建工程641.10524.84408.49292.07 无形资产和开发支出213.04166.71120.3874.05 其他非流动资产58.2557.5256.7956.79 资产总计4017.564344.975028.535996.08 短期借款115.100.000.000.00 应付账款和预收款项326.07333.92427.62563.08 长期借款152.92107.3764.8125.30 其他负债147.43165.85190.74225.32 负债合计1438.071486.121807.772292.16 股本535.16535.16535.16535.16 资本公积1009.401009.401009.401009.40 留存收益987.971269.141633.422119.72 归属母公司股东权益2532.532813.703177.983664.28 少数股东权益46.9645.1442.7839.64 股东权益合计2579.492858.843220.763703.92 负债和股东权益合计4017.564344.975028.535996.08现金流量表（百万元）2022A2023E2024E2025E 经营活动现金流净额353.69472.55568.79695.18 投资活动现金流净额-283.0216.1516.5316.25 筹资活动现金流净额-51.80-360.63-294.86-373.43 现金流量净额47.97128.08290.46338.01报表预测