【中航证券】三晖电气（002857）-机器人商业化先锋，引领康养产业智能升级-250629（12页）.pdf

1、 1 “”ifind ifind ifind ifind ifind ifind 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%205501100165022002750330038504400184959901485198024752970346539601644088013201760220026403080352014385770115515401925231026953080123306609901320165019802310264010275550825110013751650192522008220440660880110

2、0132015401760ifind 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335.28285.72210.57300.08418.09营业收入326.16680.711020.531412.781889.30应收票据及账款166.59309.66552.88765.391023.54营业成本244.62527.56804.461106.59

3、1430.46预付账款1.021.293.735.166.90税金及附加3.123.698.8412.2416.37其他应收款3.827.2010.4214.4219.28销售费用40.6354.1776.5498.89132.25存货56.21117.49223.90307.99398.13管理费用23.8940.6356.1366.4075.57其他流动资产39.63254.91257.97261.27265.28研发费用20.3226.2230.6242.3856.68流动资产总计流动资产总计602.54976.261259.471654.312131.23财务费用-2.00-0.93-

4、0.24-0.55-1.11 长期股权投资2.498.548.899.249.59资产减值损失5.41-4.39 0.000.000.00固定资产129.81136.58111.8586.9061.72信用减值损失-6.82 0.150.000.000.00在建工程4.768.527.105.684.26其他经营损益-0.00 0.000.000.000.00无形资产16.3015.4511.838.204.57投资收益3.223.850.350.350.35长期待摊费用3.272.731.360.000.00公允价值变动损益-0.05 0.340.000.000.00其他非流动资产13.18

5、17.0715.3513.6411.93资产处置收益0.000.070.000.000.00非流动资产合计非流动资产合计169.82188.89156.39123.6692.08其他收益3.641.410.000.000.00资产总计资产总计772.371165.151415.851777.972223.31营业利润0.9630.8144.5387.17179.43短期借款0.003.000.000.000.00营业外收入0.890.660.690.690.69应付票据及账款185.30511.18644.69886.821146.37营业外支出0.090.150.090.090.09其他流动

6、负债41.9288.12184.95254.80332.84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227.22602.29829.641141.621479.21利润总额1.7631.3245.1487.77180.03长期借款15.4913.949.325.041.21所得税0.484.505.5010.7021.95其他非流动负债0.013.693.693.693.69净利润1.2826.8239.6377.07158.08非流动负债合计非流动负债合计15.5117.6313.018.734.90少数股东损益-4.63 8.720.000.000.0