2024年报-2025年一季报点评：积极推进军民领域双布局，营收与归母净利润有所修复

2 www.avicsec.com 010-59219558 010-59562637 1 ⚫ ⚫ ⚫ ⚫ -30%-10%10%30%50%70%90%110%24-0524-0724-0924-1225-0225-05300 ⚫ ..................... ................................... .................. ................................ ...................................... ............................................................................ .......................................................................... ....................................................................... ................................... .......................................................................... ........................................................................ .............................................. ........................................... ................................................. .................................................... .................................................... .............................................. ........................................................................... 1 2 98.50%-2.87%-65.12%88.77%44.40%-100%-50%0%50%100%150%010020030040020202021202220232024-516.83%-10.99%-214.65%-9.79%112.08%-400%-200%0%200%400%600%(150)(100)(50)05010020202021202220232024- 3 4 0.01.02.03.04.0202020212022202320240%20%40%60%80%100%20202021202220232024 5 6 -1010305070202020212022202320240%10%20%30%40%50%02040608020202021202220232024 2024A 2025E 2026E 2027E 报表预测单位:百万元会计年度2022202320242025E2026E2027E利润表 营业收入110.89209.33302.27374.42449.05523.31 减: 营业成本74.21154.56174.21235.54285.68334.81 税金及附加0.430.661.392.252.692.09 主营业务利润36.2554.11126.68136.63160.67186.41 减: 销售费用14.9613.5912.867.496.745.23 管理费用42.9752.8642.3528.0826.9430.88 研发费用48.4372.6150.6133.7035.9236.63 财务费用-2.07 0.062.106.6612.0115.54 经营性利润-68.05 -85.02 18.7560.7079.0698.12 加: 资产减值损失-8.01 -23.00 -8.53 -26.25 -31.48 -36.69 信用减值损失-14.42 6.33-8.29 -15.88 -19.04 -22.19 其他经营损益-0.00 -0.00 0.00-0.00 -0.00 -0.00 投资收益0.000.000.000.000.000.00 公允价值变动损益0.000.000.000.000.000.00 资产处置收益0.050.331.040.470.470.47 其他收益3.105.214.394.234.234.23 营业利润-87.33 -96.14 7.3723.2833.2443.95 加: 其他非经营损益0.000.000.000.000.000.00 营业外收入3.230.000.151.131.131.13 减: 营业外支出0.000.180.220.140.140.14 利润总额-84.10 -96.32 7.3024.2734.2444.94 减: 所得税3.63-0.01 -4.34 -0.00 -0.00 -0.00 净利润-87.73 -96.32 11.6424.2734.2444.94 减: 少数股东损益0.000.000.000.000.000.00 归属母公司股东净利