恒瑞医药（600276）:创新管线助力长期发展，出海已成第二增长引擎

1 ◆ ◆ ⅢⅡⅠ◆ ◆ ◆ ◆ 报表预测单位:百万元会计年度2022202320242025E2026E2027E利润表 营业收入21,275.2722,819.7827,984.6131,242.5935,101.0739,677.58 减: 营业成本3,486.643,525.253,848.184,290.414,615.394,996.01 税金及附加190.39219.26257.88289.23324.95367.31 主营业务利润17,598.2419,075.2823,878.5426,662.9530,160.7334,314.26 减: 销售费用7,347.897,577.188,336.079,372.7810,530.3211,903.28 管理费用2,306.482,416.972,555.692,843.083,194.203,610.66 研发费用4,886.554,953.896,582.927,342.018,248.759,324.23 财务费用-470.87 -478.39 -572.73 -87.85 -103.92 -128.58 经营性利润3,528.194,605.636,976.607,192.948,291.389,604.67 加: 资产减值损失-146.68 -107.22 -32.54 -132.84 -149.25 -168.71 信用减值损失-26.28 17.2529.005.806.527.37 其他经营损益-0.00 -0.00 -0.00 -0.00 -0.00 -0.00 投资收益387.36-49.16 4.28114.16114.16114.16 公允价值变动损益76.50-58.26 108.630.000.000.00 资产处置收益5.473.165.404.684.684.68 其他收益287.40498.49399.26395.05395.05395.05 营业利润4,111.964,909.907,490.637,579.798,662.549,957.22 加: 其他非经营损益0.000.000.000.000.000.00 营业外收入2.083.8010.455.445.445.44 减: 营业外支出145.55246.59331.39241.18241.18241.18 利润总额3,968.494,667.117,169.697,344.068,426.809,721.49 减: 所得税153.42389.29832.70583.15669.12771.93 净利润3,815.074,277.826,336.996,760.917,757.688,949.56 减: 少数股东损益-91.23 -24.62 0.47-66.69 -76.53 -88.29 归属母公司股东净利润3,906.304,302.446,336.536,827.607,834.219,037.85资产负债表 货币资金15,110.6820,746.1024,815.9126,972.9133,359.2240,467.56 交易性金融资产2,760.4999.05273.34273.34273.34273.34 应收票据502.79325.83149.87450.59506.23572.24 应收账款7,838.685,809.086,009.608,724.509,801.9811,079.97 预付账款1,054.791,221.081,147.241,500.511,685.831,905.63 其他应收款562.18438.2566.41499.90561.64634.87 存货2,450.572,314.032,417.122,842.233,057.523,309.66 其他流动资产653.86334.05435.44634.56712.93805.88 长期股权投资767.86694.99666.35613.93561.51509.08 金融资产投资739.71756.391,065.411,065.411,065.411,065.41 投资性房地产0.000.000.000.000.000.00 固定资产和在建工程6,675.746,629.476,928.166,063.075,153.914,200.68 无形资产和开发支出2,200.933,376.325,029.874,724.554,312.633,794.12 其他非流动资产1,036.721,039.871,130.92993.60856.28856.28 资产总计42,355.0143,784.5150,135.6555,359.1061,908.4369,474.73 短期借款1,260.940.000.000.000.000.00 交易性金融负债0.000.000.000.000.000.00 应付票据280.58239.910.00212.41228.50247.35 应付账款1,486.971,270.421,967.261,856.421,997.042,161.73 预收账款0.000.000.000.000.000.00 合同负债187.08198.09159.79241.44271.26306.63 其他应付款412.27833.001,461.901,050.341,129.901,223.08 长期借款98.8675.1869.0445.6223.012.45 其他负债215.15134.82387.41369.69372.78376.45 负债合计3,941.852,751.424,045.393,775.924,022.504,317.68 股本6,379.006,379.006,379.006,379.006,379.006,379.00 资本公积3,020.243,057.643,188.073,188.073,188.073,188.07 留存收益28,424.5731,029.1535,952.7941,512.4147,891.7055,251.09 归属母公司股东权益37,823.8140,465.8045,519.8651,079.4857,458.7764,818.17 少数股东