资源描述
5 SAC S0850522120003 SAC S0850523020001 2024 6 20 940465 7.8 1%5%1-5 43.3 8%Wind 2024 2024 1-5 5 7.8 1%2 0500001000001500002000002500001 2 3 4 5 6 7 8 9 10 11 12 2018 2019 2020 2021 2022 2023 2024-100%-50%0%50%100%020406080100120140160180 YOY YWAZyRqNmPqRrPmPtOpQoPbR9R6MpNoOnPnRiNnNsMiNsQnMbRoOxOuOsOqPMYmMsQ 2024 1-5/53%/25%/22%2023 55%/26%/19%2024 1-5 2023 3pct Wind 3 0%10%20%30%40%50%60%70%80%90%100%5 4.3 2%4%1-5 22.8 10%Wind 5 4.3+2%4 0200004000060000800001000001200001400001 2 3 4 5 6 7 8 9 10 11 12 2018 2019 2020 2021 2022 2023 2024-100%-50%0%50%100%0102030405060708090 YOY B8UyxloYG4v25lW8z6jPs5DzSda0ryHb0G1WUCrSdD7FlY9wvo+uzCJA5LRAgvKw 5 1.9 10%3%1-5 10.8 4%Wind 5 5 1.9-10%0500010000150002000025000300003500040000450001 2 3 4 5 6 7 8 9 10 11 12 2018 2019 2020 2021 2022 2023 2024-50%0%50%100%05101520253035 YOY 5 1.6 14%10%1-5 9.6 18%Wind 6 5 1.6+14%010000200003000040000500006000070000800001 2 3 4 5 6 7 8 9 10 11 12 2018 2019 2020 2021 2022 2023 2024-100%-50%0%50%100%0102030405060 YOY 5 1.5 23%24%1-5 6.2 17%5 0.6 42%8%1-5 2.9 15%Wind 5 7 0200040006000800010000120001400016000180001 2 3 4 5 6 7 8 9 10 11 12 2018 2019 2020 2021 2022 2023 20240100020003000400050006000700080001 2 3 4 5 6 7 8 9 10 11 12 2018 2019 2020 2021 2022 2023 2024 5 1.9 76%14%1-5 8.7 136%Wind 5 1.9+76%8 0500010000150002000025000300001 2 3 4 5 6 7 8 9 10 11 12 2018 2019 2020 2021 2022 2023 20240%5%10%15%20%25%0246810121416 2024 1-5/97.6%/1.6%/0.8%2023 97.5%/1.4%/1.1%Wind 9 0%10%20%30%40%50%60%70%80%90%100%2018 2019 2020 2021 2022 20232024 5 1.8 73%15%1-5 8.4 139%Wind 5 1.8 10 0%5%10%15%20%25%30%35%40%0246810121416 0500010000150002000025000300001 2 3 4 5 6 7 8 9 10 11 12 2018 2019 2020 2021 2022 2023 2024 5 24%41%15 Wind 5 24%11 0%5%10%15%20%25%30%1 2 3 4 5 6 7 8 9 10 11 122018 2019 2020 2021 2022 2023 20240%5%10%15%20%25%30%35%40%45%50%1 2 3 4 5 6 7 8 9 10 11 122018 2019 2020 2021 2022 2023 2024 Wind 12 0%20%40%60%80%100%120%050001000015000200002500030000(Wind LNG LNG 13 012345678910LNG/kg:5 0.4 122%14%1-5 2.1 146%5 5%1-5 5%Wind 5 0.4 5%14 0%1%2%3%4%5%05000100001500020000250003000035000 0%1%2%3%4%5%6%7%2018 2019 2020 2021 2022 20232024 5 5 15 5/2024 89%2024 5/2024/2024 20405 2%120391 11%28%17584 4%94852 21%22%13541 5%66960 4%15%10041-9%71797 6%17%6748 0%32933-20%8%2666 6%11006 7%3%1900 0%7880 9%2%1235-16%6617-17%2%1063 6%4764 15%1%777 3%3664 2%1%2190 8%12250 35%3%5 5 16 5/2024 88%2024 5/2024/2024 11436 10%59723 30%26%11402 13%60467 11%26%6628-7%35352-1%15%4566-11%27056 12%12%3895-10%19453-29%9%2476 4%10553 8%5%589-18%2971-2%1%572 20%2688 70%1%467-22%2504 16%1%366 53%2240 0%1%1052-12%5363 45%2%5 17 5/2024 1-5 96%2024 2025 105/121 15%/15%2024 105+15%18 2019 2020 2021 2022 2023 2024E 2025E 56 83 68 30 50 58 67 61 78 72 37 41 47 54 117 162 139 67 91 105 121 7.6 12.9 4.9 2.4 14.1 26.2 33.5 0.8 0.7 0.3 0.2 0.4 2.3 3.8 8.4 13.5 5.2 2.6 14 29 37 14%15%7%8%28%45%50%1%1%0%1%1%5%7%7%8%4%4%16%27%31%19 20 SAC S0850522120003 Email SAC S0850523020001 Email 21 1.6 6 2.A 500 10%-10%10%-10%6 10%-10%10%-10%22
展开阅读全文