【中航证券】希荻微（688173）-2025年一季报点评：战略并购助力业绩释放，卡位高景气应用领域-250503（4页）.pdf

1、 1 资料来源：ifind，中航证券研究所 资产负债表资产负债表利润表利润表会计年度会计年度20232023202420242025E2025E2026E2026E2027E2027E会计年度会计年度20232023202420242025E2025E2026E2026E2027E2027E货币资金621.13909.00554.38501.73488.03营业收入393.63545.51932.921160.991369.75应收票据及账款84.78149.88171.66213.62252.03营业成本249.34375.84626.18779.28918.83预付账款18.1413.18

2、27.6534.4140.60税金及附加0.640.240.770.961.13其他应收款25.2622.2942.1852.4961.93销售费用39.9262.6965.3069.6668.49存货204.46138.74388.43483.39569.96管理费用78.8594.5393.29104.49109.58其他流动资产663.2250.21250.84308.07360.45研发费用237.43252.61233.23243.81280.80流动资产总计流动资产总计1616.991283.291435.141593.721773.01财务费用-15.73-15.95-1.98-

3、1.84-1.79 长期股权投资0.000.00-2.48-4.95-7.43 资产减值损失-46.56-86.65-9.33-11.61-13.70 固定资产21.0266.4057.3547.0735.55信用减值损失-0.56-2.34-1.75-2.18-2.57 在建工程4.8847.3139.4331.5423.66其他经营损益0.000.000.000.000.00无形资产166.69225.13169.18113.2357.27投资收益12.739.878.148.148.14长期待摊费用1.571.070.540.000.00公允价值变动损益2.420.660.000.000

4、.00其他非流动资产205.22187.13187.13187.13187.13资产处置收益-0.05-0.04-0.03-0.03-0.03 非流动资产合计非流动资产合计399.39527.04451.15374.02296.19其他收益4.294.283.493.493.49资产总计资产总计2016.371810.341886.291967.742069.19营业利润-224.56-298.69-83.35-37.55-11.95 短期借款0.3322.230.000.000.00营业外收入137.210.0945.7745.7745.77应付票据及账款93.6679.74135.9616

5、9.21199.51营业外支出0.240.070.340.340.34其他流动负债83.38106.16188.48231.04270.69其他非经营损益0.000.000.000.000.00流动负债合计流动负债合计177.37208.12324.45400.24470.20利润总额-87.58-298.67-37.92 7.8733.48长期借款2.862.851.04-0.55-1.89 所得税-33.39-3.32 0.630.630.63其他非流动负债1.2030.5430.5430.5430.54净利润-54.18-295.35-38.56 7.2432.84非流动负债合计非流动负

6、债合计4.0733.3931.5829.9928.65少数股东损益0.00-4.76-0.21 0.040.18负债合计负债合计181.44241.51356.03430.23498.84归属母公司股东净利润-54.18-290.60-38.35 7.2032.67股本410.56410.31410.31410.31410.31EBITDA-59.58-258.87 33.5180.69107.04资本公积1470.941464.381464.381464.381464.38NOPLAT-146.26-320.63-85.41-39.47-13.82 留