{
|
"conclusion": {
|
"base_midpoint": "30.91399999997936509709205771",
|
"price_label": "当前价格处于基准合理区间",
|
"price_position": "WITHIN_BASE_RANGE",
|
"safety_margin_to_base_midpoint": "0.3161674322308950372439281766"
|
},
|
"engine_version": "1.0.0",
|
"holding_period": {
|
"cumulative_dividend_per_share": "0",
|
"required_exit_price": "34.0461814",
|
"required_profit_by_exit_pe": [
|
{
|
"exit_pe": "20",
|
"required_profit": "2639890794.88390641"
|
},
|
{
|
"exit_pe": "25",
|
"required_profit": "2111912635.907125128"
|
},
|
{
|
"exit_pe": "30",
|
"required_profit": "1759927196.58927094"
|
},
|
{
|
"exit_pe": "35",
|
"required_profit": "1508509025.64794652"
|
},
|
{
|
"exit_pe": "40",
|
"required_profit": "1319945397.441953205"
|
},
|
{
|
"exit_pe": "50",
|
"required_profit": "1055956317.953562564"
|
},
|
{
|
"exit_pe": "60",
|
"required_profit": "879963598.29463547"
|
},
|
{
|
"exit_pe": "75",
|
"required_profit": "703970878.635708376"
|
},
|
{
|
"exit_pe": "100",
|
"required_profit": "527978158.976781282"
|
}
|
],
|
"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": "1.16",
|
"profit": "1798893853.08"
|
},
|
"2027": {
|
"eps": "1.368",
|
"profit": "2121454130.1840003"
|
},
|
"2028": {
|
"eps": "1.556153846154",
|
"profit": "2413237576.1148543"
|
}
|
},
|
"included": true,
|
"institution": "东方财富公开一致预期汇总（覆盖池15家）",
|
"report_date": "2026-08-04",
|
"source_id": "SRC-EM-CONSENSUS-20260804",
|
"statuses": [
|
"CURRENT"
|
]
|
}
|
],
|
"summary": {
|
"2026": {
|
"eps_mean": "1.16",
|
"eps_profit_reconciliation_gap": "0.0",
|
"institution_count": 1,
|
"pe_on_mean": "18.22413793103448275862068966",
|
"profit_max": "1798893853.08",
|
"profit_mean": "1798893853.08",
|
"profit_median": "1798893853.08",
|
"profit_min": "1798893853.08"
|
},
|
"2027": {
|
"eps_mean": "1.368",
|
"eps_profit_reconciliation_gap": "0.0000000000000001414124376914904443590465238",
|
"institution_count": 1,
|
"pe_on_mean": "15.45321637426900366267621871",
|
"profit_max": "2121454130.1840003",
|
"profit_mean": "2121454130.1840003",
|
"profit_median": "2121454130.1840003",
|
"profit_min": "2121454130.1840003"
|
},
|
"2028": {
|
"eps_mean": "1.556153846154",
|
"eps_profit_reconciliation_gap": "0.0000000000000001389411483223324431063982127",
|
"institution_count": 1,
|
"pe_on_mean": "13.58477508650384539130106823",
|
"profit_max": "2413237576.1148543",
|
"profit_mean": "2413237576.1148543",
|
"profit_median": "2413237576.1148543",
|
"profit_min": "2413237576.1148543"
|
}
|
}
|
},
|
"meta": {
|
"as_of_date": "2026-08-04",
|
"code": "600699.SH",
|
"company": "均胜电子",
|
"currency": "CNY",
|
"latest_operating_info_date": "2026-04-28",
|
"market": "上海证券交易所",
|
"report_period_end": "2026-03-31"
|
},
|
"metrics": {
|
"annual_cash_conversion": "4.040986376608299484343786622",
|
"annual_fcf": "1089890657.32",
|
"book_value_per_share": "11.30146621839119666085640033",
|
"current_fcf": "-148839343.50",
|
"deduct_pe": "21.30814652049551523590967526",
|
"diluted_shares": "1550770563.0",
|
"enterprise_value": "54832095428.970",
|
"market_cap": "32783289701.820",
|
"normalized_eps": "0.9921088152677292727280121837",
|
"normalized_pe": "21.30814652049552188374196692",
|
"normalized_profit": "1538533146.00999952",
|
"pb": "1.870553748645311007872760246",
|
"price": "21.14",
|
"ps": "0.5425725006035602652058155347",
|
"reported_pe": "23.45922156644192152162932075",
|
"ttm_attributable_profit": "1397458547.76",
|
"ttm_deduct_profit": "1538533146.01",
|
"ttm_eps": "0.9011381703406759856067760554",
|
"ttm_revenue": "60421952209.80"
|
},
|
"normalization_adjustments": [
|
{
|
"amount": "141074598.24999952",
|
"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": "1.057",
|
"implied_margin": "0.02712862503017801326029077674",
|
"implied_profit": "1639164485.091",
|
"pe": "20"
|
},
|
{
|
"implied_eps": "0.8456",
|
"implied_margin": "0.02170290002414241060823262139",
|
"implied_profit": "1311331588.0728",
|
"pe": "25"
|
},
|
{
|
"implied_eps": "0.7046666666666666666666666667",
|
"implied_margin": "0.01808575002011867550686051782",
|
"implied_profit": "1092776323.394",
|
"pe": "30"
|
},
|
{
|
"implied_eps": "0.604",
|
"implied_margin": "0.01550207144581600757730901528",
|
"implied_profit": "936665420.052",
|
"pe": "35"
|
},
|
{
|
"implied_eps": "0.5285",
|
"implied_margin": "0.01356431251508900663014538837",
|
"implied_profit": "819582242.5455",
|
"pe": "40"
|
},
|
{
|
"implied_eps": "0.4228",
|
"implied_margin": "0.01085145001207120530411631069",
|
"implied_profit": "655665794.0364",
|
"pe": "50"
|
},
|
{
|
"implied_eps": "0.3523333333333333333333333333",
|
"implied_margin": "0.009042875010059337753430258912",
|
"implied_profit": "546388161.697",
|
"pe": "60"
|
},
|
{
|
"implied_eps": "0.2818666666666666666666666667",
|
"implied_margin": "0.007234300008047470202744207130",
|
"implied_profit": "437110529.3576",
|
"pe": "75"
|
},
|
{
|
"implied_eps": "0.2114",
|
"implied_margin": "0.005425725006035602652058155347",
|
"implied_profit": "327832897.0182",
|
"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": "-0.05103285799675561",
|
"cagr_low": "-0.18015574860459083",
|
"equity_value_high": "25229486289.48",
|
"equity_value_low": "12142533508.35",
|
"method": "pe",
|
"name": "悲观",
|
"price_high": "16.26900000002127974362381549",
|
"price_low": "7.830000000038690442952391791",
|
"role": "pessimistic",
|
"upside_to_high": "-0.2304162724682459913139160128",
|
"upside_to_low": "-0.6296121097427298749786001991"
|
},
|
{
|
"assumption": "以TTM归一化利润与15家机构覆盖池预期为锚，按行业成长和周期属性定价。",
|
"cagr_high": "0.1509068236806772",
|
"cagr_low": "-0.019681067448950818",
|
"equity_value_high": "66199293793.28",
|
"equity_value_low": "29681748575.82",
|
"method": "pe",
|
"name": "基准",
|
"price_high": "42.68799999995873019418411542",
|
"price_low": "19.14",
|
"role": "base",
|
"upside_to_high": "1.019299905390668410320913691",
|
"upside_to_low": "-0.0946073793755912961210974456"
|
},
|
{
|
"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": "0.3178873192548184",
|
"cagr_low": "0.17305588335620503",
|
"equity_value_high": "130329859655.70",
|
"equity_value_low": "72819223172.80",
|
"method": "pe",
|
"name": "乐观",
|
"price_high": "84.04200000003482139865715261",
|
"price_low": "46.95680000007841263105018070",
|
"role": "optimistic",
|
"upside_to_high": "2.975496688743369034941208733",
|
"upside_to_low": "1.221229895935591893616375624"
|
}
|
]
|
}
|
