机器人商业化先锋，引领康养产业智能升级

◆◆ ”ifindifind “ ifindifind ifindifind 550康养缺口渗透率市场空间单价（亿元）（万元）5%10%15%20%25%30%35%40%2055011001650220027503300385044001849599014851980247529703465396016440880132017602200264030803520143857701155154019252310269530801233066099013201650198023102640102755508251100137516501925220082204406608801100132015401760 ifind 资料 来源：ifind，中航证 券研究所资产负债表会计年度202320242025E货币资金335.28285.72应收票据及账款166.59309.66预付账款1.021.29其他应收款3.827.20存货56.21117.49其他流动资产39.63254.91流动资产总计602.54976.26长期股权投资2.498.54固定资产129.81136.58在建工程4.768.52无形资产16.3015.45长期待摊费用3.272.73其他非流动资产13.1817.07非流动资产合计169.82188.89资产总计772.371165.15短期借款0.003.00应付票据及账款185.30511.18其他流动负债41.9288.12流动负债合计227.22602.29长期借款15.4913.94其他非流动负债0.013.69非流动负债合计15.5117.63负债合计242.73619.93股本128.00129.17资本公积116.07125.85留存收益286.10272.26归属母公司权益530.17527.28少数股东权益-0.5317.95股东权益合计529.63545.23负债和股东权益合计772.371165.15现金流量表会计年度202320242025E税后经营利润1.2826.82折旧与摊销10.7112.98财务费用-2.00-0.93投资损失-3.22-3.85营运资金变动40.86136.46其他经营现金流-0.37-68.37经营性现金净流量47.27103.11资本支出12.212.11长期投资49.19-220.00其他投资现金流3.37-0.49投资性现金净流量40.35-222.60短期借款0.003.00长期借款15.49-1.55普通股增加0.001.17资本公积增加0.009.79其他筹资现金流-18.09-17.50筹资性现金净流量-2.59-5.09现金流量净额85.02-124.58