{
|
"conclusion": {
|
"base_midpoint": "25.200",
|
"price_label": "当前价格处于基准合理区间",
|
"price_position": "WITHIN_BASE_RANGE",
|
"safety_margin_to_base_midpoint": "0.2384920634920634920634920635"
|
},
|
"engine_version": "1.0.0",
|
"holding_period": {
|
"cumulative_dividend_per_share": "0",
|
"required_exit_price": "30.9056869",
|
"required_profit_by_exit_pe": [
|
{
|
"exit_pe": "20",
|
"required_profit": "33060292587.04699472"
|
},
|
{
|
"exit_pe": "25",
|
"required_profit": "26448234069.637595776"
|
},
|
{
|
"exit_pe": "30",
|
"required_profit": "22040195058.03132981333333333"
|
},
|
{
|
"exit_pe": "35",
|
"required_profit": "18891595764.02685412571428571"
|
},
|
{
|
"exit_pe": "40",
|
"required_profit": "16530146293.52349736"
|
},
|
{
|
"exit_pe": "50",
|
"required_profit": "13224117034.818797888"
|
},
|
{
|
"exit_pe": "60",
|
"required_profit": "11020097529.01566490666666667"
|
},
|
{
|
"exit_pe": "75",
|
"required_profit": "8816078023.212531925333333333"
|
},
|
{
|
"exit_pe": "100",
|
"required_profit": "6612058517.409398944"
|
}
|
],
|
"required_return": "0.1",
|
"years": 5
|
},
|
"institutions": {
|
"coverage_status": "available",
|
"detail": [
|
{
|
"core_assumption": "汇总接口未提供逐家报告日期；估值日仅作为C1汇总快照日期，不替代单家研报。",
|
"estimates": {
|
"2026": {
|
"eps": "1.575",
|
"profit": "33696038527.2"
|
},
|
"2027": {
|
"eps": "1.7555",
|
"profit": "37557711513.968"
|
},
|
"2028": {
|
"eps": "1.940588235294",
|
"profit": "41517546629.776306"
|
}
|
},
|
"included": true,
|
"institution": "东方财富公开一致预期汇总（覆盖池20家）",
|
"report_date": "2026-08-04",
|
"source_id": "SRC-EM-CONSENSUS-20260804",
|
"statuses": [
|
"CURRENT"
|
]
|
}
|
],
|
"summary": {
|
"2026": {
|
"eps_mean": "1.575",
|
"eps_profit_reconciliation_gap": "0.000",
|
"institution_count": 1,
|
"pe_on_mean": "12.18412698412698412698412698",
|
"profit_max": "33696038527.2",
|
"profit_mean": "33696038527.2",
|
"profit_median": "33696038527.2",
|
"profit_min": "33696038527.2"
|
},
|
"2027": {
|
"eps_mean": "1.7555",
|
"eps_profit_reconciliation_gap": "0.00",
|
"institution_count": 1,
|
"pe_on_mean": "10.93135858729706636285958416",
|
"profit_max": "37557711513.968",
|
"profit_mean": "37557711513.968",
|
"profit_median": "37557711513.968",
|
"profit_min": "37557711513.968"
|
},
|
"2028": {
|
"eps_mean": "1.940588235294",
|
"eps_profit_reconciliation_gap": "0.00000000000000001328941724134273015207750778",
|
"institution_count": 1,
|
"pe_on_mean": "9.888754167930275290807591609",
|
"profit_max": "41517546629.776306",
|
"profit_mean": "41517546629.776306",
|
"profit_median": "41517546629.776306",
|
"profit_min": "41517546629.776306"
|
}
|
}
|
},
|
"meta": {
|
"as_of_date": "2026-08-04",
|
"code": "603993.SH",
|
"company": "洛阳钼业",
|
"currency": "CNY",
|
"latest_operating_info_date": "2026-04-25",
|
"market": "上海证券交易所",
|
"report_period_end": "2026-03-31"
|
},
|
"metrics": {
|
"annual_cash_conversion": "1.024795520446184184306052608",
|
"annual_fcf": "13259580828.20",
|
"book_value_per_share": "4.167378769355091451582402261",
|
"current_fcf": "9534700054.11",
|
"deduct_pe": "17.13128875870641438528382805",
|
"diluted_shares": "21394310176.0",
|
"enterprise_value": "401563263876.980004",
|
"market_cap": "410556812277.440",
|
"normalized_eps": "1.120172584228218937924778454",
|
"normalized_pe": "17.13128875870641329158376021",
|
"normalized_profit": "23965319717.63000153",
|
"pb": "4.604813016065175971015721427",
|
"price": "19.19",
|
"ps": "1.807975857820375963351422063",
|
"reported_pe": "16.99832545374721240508576526",
|
"ttm_attributable_profit": "24152779836.73",
|
"ttm_deduct_profit": "23965319717.63",
|
"ttm_eps": "1.128934732554472991669876405",
|
"ttm_revenue": "227080915102.70"
|
},
|
"normalization_adjustments": [
|
{
|
"amount": "-187460119.09999847",
|
"basis": "2025年报加2026年最新累计期减上年同期比较数",
|
"description": "以TTM扣非归母利润替代TTM归母利润作为核心盈利代理"
|
}
|
],
|
"qa": {
|
"error_count": 0,
|
"info_count": 0,
|
"issues": [],
|
"status": "PASS",
|
"warning_count": 0
|
},
|
"reverse_pe": [
|
{
|
"implied_eps": "0.9595",
|
"implied_margin": "0.09039879289101879816757110314",
|
"implied_profit": "20527840613.872",
|
"pe": "20"
|
},
|
{
|
"implied_eps": "0.7676",
|
"implied_margin": "0.07231903431281503853405688251",
|
"implied_profit": "16422272491.0976",
|
"pe": "25"
|
},
|
{
|
"implied_eps": "0.6396666666666666666666666667",
|
"implied_margin": "0.06026586192734586544504740211",
|
"implied_profit": "13685227075.91466666666666667",
|
"pe": "30"
|
},
|
{
|
"implied_eps": "0.5482857142857142857142857143",
|
"implied_margin": "0.05165645308058217038146920181",
|
"implied_profit": "11730194636.49828571428571429",
|
"pe": "35"
|
},
|
{
|
"implied_eps": "0.47975",
|
"implied_margin": "0.04519939644550939908378555157",
|
"implied_profit": "10263920306.936",
|
"pe": "40"
|
},
|
{
|
"implied_eps": "0.3838",
|
"implied_margin": "0.03615951715640751926702844126",
|
"implied_profit": "8211136245.5488",
|
"pe": "50"
|
},
|
{
|
"implied_eps": "0.3198333333333333333333333333",
|
"implied_margin": "0.03013293096367293272252370104",
|
"implied_profit": "6842613537.957333333333333333",
|
"pe": "60"
|
},
|
{
|
"implied_eps": "0.2558666666666666666666666667",
|
"implied_margin": "0.02410634477093834617801896084",
|
"implied_profit": "5474090830.365866666666666667",
|
"pe": "75"
|
},
|
{
|
"implied_eps": "0.1919",
|
"implied_margin": "0.01807975857820375963351422063",
|
"implied_profit": "4105568122.7744",
|
"pe": "100"
|
}
|
],
|
"scenarios": [
|
{
|
"assumption": "需求、验收或价格低于预期，利润下修且估值回归低位。",
|
"cagr_high": "-0.0741815634917391",
|
"cagr_low": "-0.21638702782109165",
|
"equity_value_high": "279255919294.17",
|
"equity_value_low": "121305738697.92",
|
"method": "pe",
|
"name": "悲观",
|
"price_high": "13.0528125",
|
"price_low": "5.67",
|
"role": "pessimistic",
|
"upside_to_high": "-0.3198117509119332985930171965",
|
"upside_to_low": "-0.7045336112558624283480979677"
|
},
|
{
|
"assumption": "以TTM归一化利润与20家机构覆盖池预期为锚，按行业成长和周期属性定价。",
|
"cagr_high": "0.1354988112160942",
|
"cagr_low": "-0.05878331233110168",
|
"equity_value_high": "775008886125.60",
|
"equity_value_low": "303264346744.8",
|
"method": "pe",
|
"name": "基准",
|
"price_high": "36.225",
|
"price_low": "14.175",
|
"role": "base",
|
"upside_to_high": "0.887701928087545596664929651",
|
"upside_to_low": "-0.2613340281396560708702449192"
|
},
|
{
|
"assumption": "订单、产品结构和规模效应超预期，利润与估值中枢同步上移。",
|
"cagr_high": "0.2990859870298992",
|
"cagr_low": "0.1332186747147892",
|
"equity_value_high": "1519017416806.12",
|
"equity_value_low": "767258797264.38",
|
"method": "pe",
|
"name": "乐观",
|
"price_high": "71.00099999999738248162528650",
|
"price_low": "35.86275000000168269038374439",
|
"role": "optimistic",
|
"upside_to_high": "2.699895779051452969339514669",
|
"upside_to_low": "0.868824908806757826492117998"
|
}
|
]
|
}
|
