【中航证券】精研科技（300709）-首次覆盖：折叠屏+散热业务弹性可期-250815（5页）.pdf

1、 1 收入（亿元）2023年报 2024年报2025E2026E2027EMIM零部件及组件14.5113.1015.4619.3222.22传动、散热类组件及其他4.065.197.269.5912.94精密塑胶零部件及组件2.011.972.072.272.50终端产品0.700.760.800.880.97其他业务0.680.580.580.580.58合计21.9621.5926.1632.6439.21 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

2、年度会计年度20232023202420242025E2025E2026E2026E2027E2027E货币资金645.81765.591226.901834.522518.72营业收入2195.582159.142616.103263.623920.53应收票据及账款720.13666.16814.111015.611220.03营业成本1549.181537.361857.142278.912779.95预付账款10.293.138.9311.1413.39税金及附加25.8222.0327.6334.4741.41其他应收款3.754.495.116.377.65销售费用31.9233.

3、0239.2448.9558.81存货305.52396.69413.90507.90619.56管理费用165.64180.75222.37261.09313.64其他流动资产78.7863.4168.2372.0075.82研发费用180.78178.07209.29261.09294.04流动资产总计流动资产总计1764.291899.472537.183447.534455.18财务费用16.360.19-1.32-5.11-8.25 长期股权投资0.458.648.307.967.62资产减值损失-131.22-113.72-78.48-65.27-39.21 固定资产1168.56

4、1078.07777.59476.52174.86信用减值损失5.917.274.125.146.18在建工程15.2322.3218.6014.8811.16其他经营损益0.000.000.000.000.00无形资产121.19115.9985.5955.1924.80投资收益-0.30 5.518.878.878.87长期待摊费用41.7855.7127.850.000.00公允价值变动损益9.320.040.000.000.00其他非流动资产106.41107.92107.92107.92107.92资产处置收益0.54-1.62-0.42-0.42-0.42 非流动资产合计非流动资产

5、合计1453.621388.641025.85662.47326.36其他收益22.1917.0920.5620.5620.56资产总计资产总计3217.913288.113563.034110.004781.53营业利润132.33122.30216.40353.08436.91短期借款118.1239.100.000.000.00营业外收入0.341.140.960.960.96应付票据及账款637.37762.85846.891039.231267.71营业外支出1.350.780.850.850.85其他流动负债299.58216.00278.66342.37416.27其他非经营损益

6、0.000.000.000.000.00流动负债合计流动负债合计1055.071017.961125.551381.601683.98利润总额131.32122.65216.51353.19437.02长期借款56.7638.8915.36-5.04-21.10 所得税-2.49-7.10-0.66-1.08-1.34 其他非流动负债58.3583.3983.3983.3983.39净利润133.81129.75217.17354.28438.36非流动负债合计非流动负债合计115.11122.2798.7578.3562.29少数股东损益-8.83 10.079.1914.9918.55负债