20230320_华安证券_机械行业一带一路出口专题研究_28页.pdf

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S0010522070003 S00105221100032023年3 月20日 2 2022 32.9%2022 50%2022 2017-2021 CAGR 12.6%23.9%11.8%10.6%10.9%1.2%0YCXuNmRmPoPpRtQnQpQrQbRdN6MnPpPpNoNiNqQmPeRoMpOaQpPuMvPpMqONZnRnR 1 2 3 4 2022 32.9%4 2022 420678 7.7%239654 10.5%181024 4.3%58630 15330 138339 19.4%78877 20.0%59461 18.7%1641291723741792792169082396541408811432541429361736081810240500001000001500002000002500003000003500004000004500002018 2019 2020 2021 2022 1 2018-2022 5 2021 3 5.67 9486.6 8121.3 19.7%26.6%33.9%64.1%21.3%36.7%60.1%10.7%2021 3.55 1.25 18.8%15.2%72.9%1 2 3 4 50%7020,000,00040,000,00060,000,00080,000,000100,000,000120,000,0002020-012020-022020-032020-042020-052020-062020-072020-082020-092020-102020-112020-122021-012021-022021-032021-042021-052021-062021-072021-082021-092021-102021-112021-122022-012022-022022-032022-042022-052022-062022-072022-082022-092022-102022-112022-122023-012023-02;2022 101072 8%13432 19.4%11.45 2022 47.78%2 2022 2022 8050000010000001500000200000025000003000000350000040000002022 2021 3 2022 1 2021 2 20223 4 2022 10050000001000000015000000200000002500000030000000350000004000000045000000500000002022 2021 4 2022 1101,000,0002,000,0003,000,0004,000,0005,000,0006,000,0002022 2021 5 2022 120100000200000300000400000500000600000700000800000 2022 2021 6 2022 13050000100000150000200000250000 2022 2021 7 2022 1401000020000300004000050000600007000080000 2022 2021 8 2022 15 050000100000150000200000250000300000 2022 2021 9 2022 16020000400006000080000100000120000140000 2022 2021 10 1 2021 2 2022 3 4 4.1 2017-2021 CAGR 12.56%CAGR 23.78%2017-2021 755.76 897.77 932.68 2021 28.59%2022 H1 28.42%18 11 2017-2022 H1 iFIND 2017-2021 379 234 12 2017-2022 H1-20.00%-10.00%0.00%10.00%20.00%30.00%40.00%50.00%60.00%70.00%80.00%2018 2019 2020 2021 2022 H1 755.76 897.77 932.68 943.43 1213.12 1233.07 18.79%3.89%1.15%28.59%28.42%0%5%10%15%20%25%30%35%02004006008001,0001,2001,4002017 2018 2019 2020 2021 2022 H1 iFIND 4.2192017-2021 GAGR 10.62%2022H1 26.40%2021 713.81 2020 24.54%2021 2019-2020 2021 75%17.86%2022H1 38.51%iFIND 13 2017-2022 H1 14 2017-2022 H1 476.69 545.21 549.30 573.14 713.81 317.95 0%5%10%15%20%25%30%01002003004005006007008002017 2018 2019 2020 2021 2022 H1%-40%-20%0%20%40%60%80%100%2018 2019 2020 2021 2022 H1 iFIND 4.3202017-2021 GAGR 11.83%2022H1 20.55%2020 2018 2019 2021 76-77 2021 12.87%2021 2017-2021 2021 2020 49.12%2022H1 14%-23%15 2017-2022 H1 16 2017-2022 H1 494.40 768.05 779.01 684.96 773.14 352.37-20%-10%0%10%20%30%40%50%60%01002003004005006007008009002017 2018 2019 2020 2021 2022 H1%-40%-20%0%20%40%60%80%100%2018 2019 2020 2021 2022 H1 iFIND iFIND 4.421 2017-2021 GAGR 1.20%2022H1 6.28%2018 2019 2021 6 2020 5.35 2019 10%iFIND 17 2017-2022 H1 3.86 6.00 6.09 5.35 6.04 3.86-15%-10%-5%0%5%10%15%20%012345672017 2018 2019 2020 2021 2022 H1%4.5222017-2021 GAGR 23.78%2022H1 61.15%2021 645.15 2020 74.42%2021 50%2017-2021 2021 75.39%2022H1 61.72%iFIND 18 2017-2022 H1 19 2017-2022 H1 274.86 358.21 380.28 369.88 645.15 401.18-10%0%10%20%30%40%50%60%70%80%01002003004005006007002017 2018 2019 2020 2021 2022 H1%-10%0%10%20%30%40%50%60%70%80%2018 2019 2020 2021 2022 H1 iFIND 4.6232017-2021 GAGR 10.92%2022H1 1.23%2017 117.70 2021 178.18 2019 10%-20%2020 20.32%2021 2018-2021 2021 29.86%2021 2022H1 38.29%iFIND 20:2017-2022 H1 21:2017-2022 H1-60%-40%-20%0%20%40%60%80%2018 2019 2020 2021 2022 H1 117.70 135.54 131.21 157.88 178.18 63.48-5%0%5%10%15%20%25%0204060801001201401601802002017 2018 2019 2020 2021 2022 H1%iFIND 4.7 24 iFIND 2022 EPS 22 70%2021A 2022Q1-Q3 2021A 2022Q1-Q3 2021 2022H1 2021A 2022E 2021A 2022E600031.SH 17.22 1068.73 591.65 120.33 35.97 23.41 41.68 1.42 0.59 12 29 000425.SZ 6.74 843.28 751.10 56.15 46.76 15.35 32.69 0.48 0.47 14 14 000157.SZ 6.39 671.31 306.49 62.70 21.69 8.62 18.25 0.72 0.32 9 20 601100.SH 62.48 93.09 59.20 26.94 17.49 13.26/2.01 1.58 31 40 002097.SZ 6.38 114.08 54.08 3.18-0.97 17.45 36.13 0.29/22/600150.SH 24.68 597.40 385.92 2.14 14.63 35.38 45.86 0.05 0.26 516 94 000039.SZ 7.52 1636.96 1091.33 66.65 31.18 7.19 9.78 1.24/6/603699.SH 13.27 39.62 29.54 3.77 3.47 46.91/0.50 0.63 26 21 688789.SH 181.72 9.43 6.97 2.27 1.86 37.09 54.50 2.73 3.18 67 57 2023/3/20 EPS 251 2 3 4;5 26 6 A 300 500 6 5%;6-5%5%;6 5%;6-12 15%6-12 5%15%6-12-5%5%6-12 5%6-12 15%27 前沿报告库是中国新经济产业咨询报告共享平台。行业范围涵盖新一代信息技术、5G、物联网、新能源、新材料、新消费、大健康、大数据、智能制造等新兴领域。为企事业单位、科研院所、投融资机构等提供研究和决策参考。扫一扫免费获取海量报告
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