资源描述
|2023 4%2019(300073)/2024 03 18 021-63325888*6118 S0860515100003 S0860517100003 S0860521080002 2024-02-27 2024 2023-11-19 2023 2023-11-09 2023-09-07 2023 2023-06-14 2.4.4.6.6.7.8.8.9.14.14.16.17 XVAZuNmRpMqRpRpMnQtMoPaQbPbRnPrRtRsOiNmMoNeRmOpQ8OrRuMwMnOyQMYoMpM 3 1.5 2.5 3.6 4.6 5 1978.7 6 2023.8 7 2022-2023.8 8.10 9.11 10.12 11.13 12.14 13.15 14.16 15.16 1.4 2.8 3.9 4.10 5.11 6.12 7.13 8 2012.14 9.15 10.15 4 21 A 1 PE TTM 166.94 7.35 143.40 27.02 115.37-92.69 71.08 69.22 Wind 2024 3 8 2010 REoOfHp9txVLQzO4gM2nObzkDSe1RnSOm2svFrHBRVnS/5KXpUIX2Jma7Rc1/s/F 5 1 数据来源：Wind，东方证券 研究所（截 至 2023 年三 季报）2019 2021 8 2 数据来源：Wind，东方证券 研究所（截 至 2023 年三 季报）()6 3 数据来源：Wind，东方证券 研究所（截 至 2023 年三 季报）IT 30.3%4 数据来源：Wind，东方证券 研究所（截 至 2023 年三 季报）1978-1984 1985-1992 1993-2002 2003-2012 2013 7 5 1978 FT 2015 2019 2020 2021 2022 2023 2022-40%-20%0%20%40%60%80%100%120%0100020003000400050006000700080002012 2013 2014 2015 2016 2017 2018 2019 2020 2021-8 2 1 2 2015 2019 2020 2021 2022 65%0.1 5%2023 GDP 2024 2022 CR10 79%2023 80%1 pct 2023 3 pcts 6 2023 7 2022-2023 9 SMM SMM 2017 2023 60%2020 3 2017 2018 2019 2020 2021 2022 2023Q1-3 41.9%24.9%25.4%35.9%34.8%46.7%32.1%80.7%85.4%70.7%71.0%63.9%45.7%37.2%63.9%74.1%59.3%69.9%57.9%63.1%56.4%61.5%23.2%21.2%32.0%30.6%54.0%49.6%62.0%51.9%44.2%52.2%46.8%52.4%43.8%29.5%26.5%26.2%26.8%63.0%66.7%58.1%42.4%43.8%38.7%51.3%56.0%32.6%43.0%55.5%51.2%42.2%42.1%55.3%63.4%61.6%1.9%33.1%35.1%44.1%69.0%78.4%58.6%32.3%38.6%35.5%41.1%60.8%60.2%55.3%Wind 0%10%20%30%40%50%60%70%80%90%CR3 CR5 CR102022 2023 10 8 数据来源：Wind，东方证券 研究所 ROE 2020 2023 2020-2022 ROE 2023 ROE 4 2017 2018 2019 2020 2021 2022 2023Q1-3 17.1%12.9%-6.6%11.3%16.5%21.6%12.4%43.3%11.3%13.3%15.4%20.3%18.8%5.0%38.4%10.1%7.2%3.5%14.4%20.3%0.9%8.5%7.7%2.9%-12.4%19.6%36.3%1.0%26.8%10.5%4.2%4.4%17.7%24.2%4.8%3.5%9.1%2.3%4.8%18.4%21.8%7.8%15.8%9.5%12.5%8.0%10.9%8.0%-4.6%26.3%21.9%13.9%-1.9%31.0%40.1%-12.0%0.2%3.3%11.8%3.7%56.0%71.4%18.2%11.5%11.0%10.1%3.7%29.1%35.3%2.3%Wind 0.00%10.00%20.00%30.00%40.00%50.00%60.00%70.00%2017 2018 2019 2020 2021 2022 2023Q1-3 11 9 数据来源：Wind，东方证券 研究所 2019 5 2017 2018 2019 2020 2021 2022 2023Q1-3 0.62 2.23 2.31 1.31 1.55 0.77 1.38 0.22 0.11 0.02 0.09 0.12 0.24 0.46 0.50 1.24 0.51 0.17 0.80 1.05 0.48 0.98 0.63 0.17 0.17 0.47 0.55 0.40 0.58 1.05 0.75 0.43 0.74 0.65 0.68 0.60 0.89 1.18 1.18 0.34 0.39 0.65 0.69 0.36 0.50 0.28 0.20 0.73 0.83 0.53 0.88 0.45 0.78 0.42 0.25 0.39 0.60 0.29 0.67 0.14 0.10 0.27 0.60 0.68 0.61 0.73 0.28 0.36 0.53 Wind 0.0%5.0%10.0%15.0%20.0%25.0%30.0%35.0%40.0%2018 2019 2020 2021 2022 2023Q1-3 ROE ROE 12 10 数据来源：Wind，东方证券 研究所 2017 2020 2021 2020 6 2017 2018 2019 2020 2021 2022 2023Q1-3 4.80%4.35%4.34%4.66%4.07%4.05%3.44%4.10%4.73%3.52%3.27%2.90%2.63%2.47%3.24%4.48%5.97%5.08%4.19%3.67%3.28%3.80%2.13%2.75%6.27%2.71%1.80%1.36%3.98%3.92%4.14%4.82%3.47%3.04%2.64%4.10%3.94%3.94%3.85%3.50%1.62%1.19%3.28%3.42%3.36%3.13%3.96%3.16%2.96%4.48%4.22%4.66%5.47%3.38%1.92%3.11%0.00%2.43%3.00%2.53%1.14%1.07%0.85%2.96%3.50%3.74%3.74%3.00%1.94%2.03%Wind 0.000.200.400.600.801.001.202017 2018 2019 2020 2021 2022 2023Q1-3 13 11 数据来源：Wind，东方证券 研究所 2020 2022 2023 2019 7 2017 2018 2019 2020 2021 2022 2023Q1-3 171.94%24.46%-154.11%327.88%175.67%103.22%2.72%0.00%-64.73%34.35%132.60%133.32%95.03%-54.87%0.00%-5.78%11.84%-47.71%571.34%112.25%-94.32%752.32%48.62%-55.08%-694.77%326.53%214.18%-96.93%231.07%0.64%-40.75%-70.50%301.72%131.17%-60.85%325.78%472.47%-58.82%141.40%333.99%56.28%-24.04%54.95%-22.22%75.59%-20.93%40.02%67.10%-181.34%20.63%4.61%3.21%-137.66%2244.09%197.46%-166.10%0.00%0.00%412.46%-32.71%3117.28%152.41%-27.15%100.34%113.71%108.11%-12.47%1433.84%118.31%-99.66%Wind 0.00%1.00%2.00%3.00%4.00%5.00%6.00%2017 2018 2019 2020 2021 2022 2023Q1-3 14 12 数据来源：Wind，东方证券 研究所/2012 2015 2020 2022 2012 2012 10 4 75 2013 8 1.99%4%8 2012 2014 30%2014 6%75 2015 30%2015 7%75 2016 30%2016 8%75 Wind 2015 2015 4-200.00%0.00%200.00%400.00%600.00%800.00%1000.00%1200.00%1400.00%1600.00%2018 2019 2020 2021 2022 2023Q1-3 15 2015 100%2020 2020 3 135 4000 13 数据来源：Wind，东方证券 研究所 2022 2022 11 2021-2023 30%70%9 1 1.3 2 1 Wind=(*30%)/*Umicore()10 0.00%1.00%2.00%3.00%4.00%5.00%6.00%2017 2018 2019 2020 2021 2022 2023Q1-3 16 50%30%20%Wind 4%2019 14 15 Wind Wind(300073)-200%-150%-100%-50%0%50%100%150%200%250%300%350%-50510152025 0%5%10%15%20%25%17 1%18 Tabl e_Disclai mer 12 A 300 500 15%5%15%-5%+5%-5%5%-5%+5%-5%HeadertTabl e_Discl ai mer HeadertTabl e_Address 318 26 021-63325888 021-63326786 Tabl e_Disclai mer
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