长城军工-公司深度报告：弹药赛道核心公司央地合作典范-241220（33页）.pdf

1、1 iFind iFind iFind iFind iFind iFind iFind -A STUDY OF AMMUNITION CONSUMPTION iFind 利润表2023A2024E2025E2026E 资产负债表2023A2024E2025E2026E营业收入1614.621713.561922.032169.11 货币资金339.16685.43768.81867.64营业成本1245.161385.811517.041697.50 应收票据及账款1693.341512.311696.291914.36税金及附加7.856.857.697.59 预付账款51.6750.955

2、7.1464.49销售费用17.1918.1620.1826.03 其他应收款20.1822.6025.3428.60管理费用165.32171.53196.05221.25 存货663.76691.69757.19847.27研发费用129.16154.22182.59206.07 其他流动资产21.9411.4512.8514.50财务费用10.4616.5314.7615.15 长期股权投资0.000.000.000.00资产减值损失-16.68-13.71-9.61-10.85 固定资产1062.11909.16753.72595.77信用减值损失-37.57-17.14-19.22-

3、21.69 在建工程95.7079.7563.8047.85其他经营损益0.000.000.000.00 无形资产220.30183.58146.86110.15投资收益2.201.161.161.16 长期待摊费用0.000.000.000.00公允价值变动损益0.000.000.000.00 其他非流动资产325.90310.67295.45280.22资产处置收益-0.2022.8222.8222.82 资产总计4494.044457.594577.464770.85其他收益25.5933.8733.8733.87 短期借款362.60336.42359.22409.60营业利润12.8

4、1-12.5312.7420.85 应付票据及账款853.30900.80986.101103.40营业外收入5.863.333.333.33 其他流动负债221.63195.35215.30241.45营业外支出1.612.532.532.00 流动负债合计1437.541432.571560.621754.46其他非经营损益0.000.000.000.00 长期借款74.1254.3635.5217.63利润总额17.06-11.7313.5422.18 其他非流动负债355.41355.41355.41355.41所得税-8.060.000.000.00 非流动负债合计429.53409

5、.77390.93373.04净利润25.13-11.7313.5422.18 负债合计1867.061842.331951.552127.50少数股东损益-1.620.25-0.29-0.47 股本724.23724.23724.23724.23归属母公司股东净利润26.74-11.9813.8322.64 资本公积722.33722.33722.33722.33现金流量表2023A2024E2025E2026E 留存收益1166.241154.261165.201183.11经营性现金净流量-83.01384.7573.0862.24 归属母公司权益2612.802600.822611.762629.67投资性现金净流量-251.2023.9923.9923.99 少数股东权益14.1814.4314.1513.68筹资性现金净流量243.39-62.47-13.6812.61 股东权益合计2626.982615.252625.912643.35现金流量净额-90.81346.2783.3998.83 负债和股东权益合计4494.044457.594577.464770.85