2024年报-2025Q1点评：背靠中核工业集团内外兼修，聚焦优势和新兴产业提质增效

1 ◆ ◆ ◆ ◆ ◆ ◆ ◆ 16801.78 18728.33 20893.23 23327.39 -41.73%11.47%11.56%11.65%140.62 66.68 229.19 374.54 118.38%-52.58%243.74%63.42%0.04 0.02 0.07 0.11 ⚫ 2020-2024 年公司年报主要财务数据 少数股东权益5,063.644,984.474,843.254,855.944,873.264,894.80 股东权益合计19,967.5119,252.5621,639.0021,959.3422,396.4122,940.26 负债和股东权益合计54,135.1555,084.4651,467.0246,110.0646,813.6347,946.39 投入资本(IC)30,727.7033,059.6531,466.4230,957.0430,226.4029,749.21现金流量表 经营性现金净流量-89.19 26.16453.471,488.831,915.851,896.74 投资性现金净流量3,016.46948.932,425.06711.6698.050.55 筹资性现金净流量-7,625.30 -778.18 -3,654.02 -3,670.26 -1,472.67 -1,288.75 现金流量净额-4,548.63 183.00-804.46 -1,469.77 541.23608.54报表预测单位:百万元会计年度2022202320242025E2026E2027E利润表 营业收入287.31301.76474.20585.82684.69860.39 减: 营业成本176.46167.06274.07298.10346.19432.54 税金及附加2.672.843.565.125.987.52 主营业务利润108.18131.86196.57282.60332.52420.34 减: 销售费用78.70104.95109.56135.35158.19198.79 管理费用37.5150.0857.5971.1583.16104.50 研发费用25.7338.3642.8852.9761.9177.80 财务费用-0.25 2.164.983.651.571.13 经营性利润-33.51 -63.70 -18.45 19.4827.6838.12 加: 资产减值损失-7.72 -11.96 -10.72 -17.40 -20.34 -25.56 信用减值损失-2.90 -5.27 -10.07 -9.53 -11.14 -13.99 其他经营损益-0.00 0.000.000.000.000.00 投资收益3.770.81-2.23 0.780.780.78 公允价值变动损益-0.01 0.180.130.000.000.00 资产处置收益1.240.880.871.001.001.00 其他收益10.2014.0811.3111.8611.8611.86 营业利润-28.93 -64.98 -29.15 6.199.8512.21 加: 其他非经营损益0.000.000.000.000.000.00 营业外收入0.119.340.273.243.243.24 减: 营业外支出3.947.623.605.065.065.06 利润总额-32.76 -63.27 -32.49 4.388.0410.40 减: 所得税-6.41 1.604.250.160.160.16 净利润-26.34 -64.87 -36.74 4.227.8810.24 减: 少数股东损益-0.14 -0.37 -0.95 0.050.100.13 归属母公司股东净利润-26.20 -64.50 -35.79 4.177.7810.12资产负债表 货币资金207.02187.58191.0158.5868.4786.04 交易性金融资产40.0430.1845.3145.3145.3145.31 应收票据0.744.970.183.794.435.57 应收账款122.17117.43171.79229.76268.54337.45 预付账款12.665.3811.5416.8419.6824.73 其他应收款10.306.185.0713.0915.3019.22 存货126.12132.86202.25223.38259.41324.12 其他流动资产38.2140.7830.6464.9775.9495.43 长期股权投资1.727.242.421.540.66-0.23 金融资产投资6.026.419.369.369.369.36 投资性房地产0.000.000.000.000.000.00 固定资产和在建工程308.27300.08268.33226.29184.26142.23 无形资产和开发支出35.4264.8988.9575.0660.9746.70 其他非流动资产41.0436.7230.5828.6026.6326.63 资产总计949.71940.711,057.43996.571,038.951,162.55 短期借款49.81102.0886.7220.558.0827.30 交易性金融负债0.000.000.000.000.000.00 应付票据24.079.0613.4523.8227.6634.56 应付账款111.3259.31142.86149.76173.92217.30 预收账款0.000.000.000.000.000.00 合同负债24.3543.51106.0488.37103.29129.79 其他应付款27.6034.0038.2549.6357.6472.02 长期借款15.5520.9642.4030.0218.417.70 其他负债24.6964.7257.3959.8867.5381.22 负债合计277.39333.65487.11422.03456.53569.89 股本87.5887.5887.5887.5887.5887.58