{
|
"conclusion": {
|
"base_midpoint": "8.662499999944626849403506025",
|
"price_label": "当前价格处于基准合理区间",
|
"price_position": "WITHIN_BASE_RANGE",
|
"safety_margin_to_base_midpoint": "0.06147186146586213449303342267"
|
},
|
"engine_version": "1.0.0",
|
"holding_period": {
|
"cumulative_dividend_per_share": "0",
|
"required_exit_price": "13.0934463",
|
"required_profit_by_exit_pe": [
|
{
|
"exit_pe": "20",
|
"required_profit": "1034505476.849767725"
|
},
|
{
|
"exit_pe": "25",
|
"required_profit": "827604381.47981418"
|
},
|
{
|
"exit_pe": "30",
|
"required_profit": "689670317.89984515"
|
},
|
{
|
"exit_pe": "35",
|
"required_profit": "591145986.7712958428571428571"
|
},
|
{
|
"exit_pe": "40",
|
"required_profit": "517252738.4248838625"
|
},
|
{
|
"exit_pe": "50",
|
"required_profit": "413802190.73990709"
|
},
|
{
|
"exit_pe": "60",
|
"required_profit": "344835158.949922575"
|
},
|
{
|
"exit_pe": "75",
|
"required_profit": "275868127.15993806"
|
},
|
{
|
"exit_pe": "100",
|
"required_profit": "206901095.369953545"
|
}
|
],
|
"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": "0.25",
|
"profit": "395047053.75"
|
},
|
"2027": {
|
"eps": "0.34",
|
"profit": "537263993.1"
|
},
|
"2028": {
|
"eps": "0.54",
|
"profit": "853301636.1"
|
}
|
},
|
"included": true,
|
"institution": "东方财富公开一致预期汇总（覆盖池2家）",
|
"report_date": "2026-08-04",
|
"source_id": "SRC-EM-CONSENSUS-20260804",
|
"statuses": [
|
"CURRENT"
|
]
|
}
|
],
|
"summary": {
|
"2026": {
|
"eps_mean": "0.25",
|
"eps_profit_reconciliation_gap": "0.0",
|
"institution_count": 1,
|
"pe_on_mean": "32.52",
|
"profit_max": "395047053.75",
|
"profit_mean": "395047053.75",
|
"profit_median": "395047053.75",
|
"profit_min": "395047053.75"
|
},
|
"2027": {
|
"eps_mean": "0.34",
|
"eps_profit_reconciliation_gap": "0.00",
|
"institution_count": 1,
|
"pe_on_mean": "23.91176470588235294117647059",
|
"profit_max": "537263993.1",
|
"profit_mean": "537263993.1",
|
"profit_median": "537263993.1",
|
"profit_min": "537263993.1"
|
},
|
"2028": {
|
"eps_mean": "0.54",
|
"eps_profit_reconciliation_gap": "0.00",
|
"institution_count": 1,
|
"pe_on_mean": "15.05555555555555555555555556",
|
"profit_max": "853301636.1",
|
"profit_mean": "853301636.1",
|
"profit_median": "853301636.1",
|
"profit_min": "853301636.1"
|
}
|
}
|
},
|
"meta": {
|
"as_of_date": "2026-08-04",
|
"code": "002373.SZ",
|
"company": "千方科技",
|
"currency": "CNY",
|
"latest_operating_info_date": "2026-04-28",
|
"market": "深圳证券交易所",
|
"report_period_end": "2026-03-31"
|
},
|
"metrics": {
|
"annual_cash_conversion": "2.892222642559815389392933695",
|
"annual_fcf": "613299799.68",
|
"book_value_per_share": "7.287993327111352997908543445",
|
"current_fcf": "-503144645.07",
|
"deduct_pe": "180.8666581798863489774001425",
|
"diluted_shares": "1580188215.0",
|
"enterprise_value": "9533089830.540",
|
"market_cap": "12846930187.950",
|
"normalized_eps": "0.04495024169636654960118152761",
|
"normalized_pe": "180.8666581798862725869763699",
|
"normalized_profit": "71029842.19000003",
|
"pb": "1.115533403379553068472035152",
|
"price": "8.13",
|
"ps": "1.621809520304922195124326495",
|
"reported_pe": "250.9415307361190683549381873",
|
"ttm_attributable_profit": "51194914.41",
|
"ttm_deduct_profit": "71029842.19",
|
"ttm_eps": "0.03239798520456628009974115647",
|
"ttm_revenue": "7921355761.64"
|
},
|
"normalization_adjustments": [
|
{
|
"amount": "19834927.78000003",
|
"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": "0.4065",
|
"implied_margin": "0.08109047601524610975621632477",
|
"implied_profit": "642346509.3975",
|
"pe": "20"
|
},
|
{
|
"implied_eps": "0.3252",
|
"implied_margin": "0.06487238081219688780497305981",
|
"implied_profit": "513877207.518",
|
"pe": "25"
|
},
|
{
|
"implied_eps": "0.271",
|
"implied_margin": "0.05406031734349740650414421651",
|
"implied_profit": "428231006.265",
|
"pe": "30"
|
},
|
{
|
"implied_eps": "0.2322857142857142857142857143",
|
"implied_margin": "0.04633741486585491986069504273",
|
"implied_profit": "367055148.2271428571428571429",
|
"pe": "35"
|
},
|
{
|
"implied_eps": "0.20325",
|
"implied_margin": "0.04054523800762305487810816238",
|
"implied_profit": "321173254.69875",
|
"pe": "40"
|
},
|
{
|
"implied_eps": "0.1626",
|
"implied_margin": "0.03243619040609844390248652991",
|
"implied_profit": "256938603.759",
|
"pe": "50"
|
},
|
{
|
"implied_eps": "0.1355",
|
"implied_margin": "0.02703015867174870325207210826",
|
"implied_profit": "214115503.1325",
|
"pe": "60"
|
},
|
{
|
"implied_eps": "0.1084",
|
"implied_margin": "0.02162412693739896260165768660",
|
"implied_profit": "171292402.506",
|
"pe": "75"
|
},
|
{
|
"implied_eps": "0.0813",
|
"implied_margin": "0.01621809520304922195124326495",
|
"implied_profit": "128469301.8795",
|
"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": "-0.11305327039160351",
|
"cagr_low": "-0.2427018491237115",
|
"equity_value_high": "7051589909.56",
|
"equity_value_low": "3199881135.42",
|
"method": "pe",
|
"name": "悲观",
|
"price_high": "4.462500000077522410835091565",
|
"price_low": "2.025000000028477620306768330",
|
"role": "pessimistic",
|
"upside_to_high": "-0.4511070110605753492207759453",
|
"upside_to_low": "-0.7509225092215894685969534649"
|
},
|
{
|
"assumption": "以TTM归一化利润与2家机构覆盖池预期为锚，按行业成长和周期属性定价。",
|
"cagr_high": "0.08232905892828879",
|
"cagr_low": "-0.08375049808403812",
|
"equity_value_high": "19080772696.02",
|
"equity_value_low": "8295988128.68",
|
"method": "pe",
|
"name": "基准",
|
"price_high": "12.07499999993355221928420723",
|
"price_low": "5.249999999955701479522804820",
|
"role": "base",
|
"upside_to_high": "0.485239852390350826480222292",
|
"upside_to_low": "-0.3542435424408731267499625068"
|
},
|
{
|
"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": "0.2432696095587601",
|
"cagr_low": "0.10315834799003687",
|
"equity_value_high": "38161545392.40",
|
"equity_value_low": "20988849965.58",
|
"method": "pe",
|
"name": "乐观",
|
"price_high": "24.15000000009492540102256110",
|
"price_low": "13.28249999990032832892631084",
|
"role": "optimistic",
|
"upside_to_high": "1.970479704808723911564890664",
|
"upside_to_low": "0.633763837626116645624392477"
|
}
|
]
|
}
|
