【中航证券】海南华铁（603300）-全面拥抱AI，智算订单有望逐步释放-250422（4页）.pdf

1、 1 收入（亿元）2023年报 2024年报 2025E 2026E 2027E高空作业平台31.0739.4447.3354.4359.87建筑安全支护设备租赁服务13.0511.2711.2711.2711.27其他业务0.310.880.880.880.88算力租赁0.1210.0120.0123.35合计44.4451.7169.4886.5995.36 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20232023202420242025

2、E2025E2026E2026E2027E2027E货币资金85.40179.76694.86865.90953.68营业收入4443.585171.326948.618659.029536.79应收票据及账款3714.244370.095975.937446.928201.82营业成本2377.102938.954081.445169.195812.84预付账款25.6838.7545.7557.0162.79税金及附加14.9421.2624.6230.6933.80其他应收款83.18793.38450.37561.23618.12销售费用397.90553.21658.06820.04

3、903.17存货22.4523.9243.3154.8561.68管理费用178.52171.75229.30285.75314.71其他流动资产306.00253.33269.84336.26370.35研发费用83.3289.46104.23129.89143.05流动资产总计流动资产总计4236.955659.237480.079322.1810268.44财务费用487.65622.58507.15519.89442.60长期股权投资830.79207.67217.57227.47237.37资产减值损失-21.19-16.79-69.49-86.59-95.37 固定资产13598.

4、8116528.1418921.3719527.6618941.03信用减值损失-93.15-107.54-138.97-173.18-190.74 在建工程6.63314.56262.14209.71157.28其他经营损益0.000.000.000.000.00无形资产16.5924.9018.7712.636.50投资收益-1.28 17.109.769.769.76长期待摊费用7.468.724.360.000.00公允价值变动损益156.24-0.00 0.000.000.00其他非流动资产523.81560.58523.88487.19450.49资产处置收益1.320.583.6

5、23.623.62非流动资产合计非流动资产合计14984.0817644.5819948.0920464.6619792.67其他收益34.4348.470.000.000.00资产总计资产总计19221.0323303.8127428.1529786.8430061.11营业利润980.52715.941148.711457.181613.88短期借款919.061114.223729.094671.104766.35营业外收入5.597.235.315.315.31应付票据及账款1145.871057.531118.201416.221592.56营业外支出9.7612.839.419.4

6、19.41其他流动负债3475.424850.036158.597781.288723.74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5540.347021.7811005.8913868.5915082.65利润总额976.35710.341144.611453.081609.78长期借款6716.898742.317890.396126.853791.70所得税136.1582.20135.29171.76190.28其他非流动负债1301.031234.931234.931234.931234.93净利润840.20628.141009.321281.