{
|
"conclusion": {
|
"base_midpoint": "94.52024999994133397089515305",
|
"price_label": "当前价格处于基准合理区间",
|
"price_position": "WITHIN_BASE_RANGE",
|
"safety_margin_to_base_midpoint": "-0.1873646123457106595349244080"
|
},
|
"engine_version": "1.0.0",
|
"holding_period": {
|
"cumulative_dividend_per_share": "0",
|
"required_exit_price": "180.7475373",
|
"required_profit_by_exit_pe": [
|
{
|
"exit_pe": "20",
|
"required_profit": "21951821572.25809455"
|
},
|
{
|
"exit_pe": "25",
|
"required_profit": "17561457257.80647564"
|
},
|
{
|
"exit_pe": "30",
|
"required_profit": "14634547714.83872970"
|
},
|
{
|
"exit_pe": "35",
|
"required_profit": "12543898041.29033974285714286"
|
},
|
{
|
"exit_pe": "40",
|
"required_profit": "10975910786.129047275"
|
},
|
{
|
"exit_pe": "50",
|
"required_profit": "8780728628.90323782"
|
},
|
{
|
"exit_pe": "60",
|
"required_profit": "7317273857.41936485"
|
},
|
{
|
"exit_pe": "75",
|
"required_profit": "5853819085.93549188"
|
},
|
{
|
"exit_pe": "100",
|
"required_profit": "4390364314.45161891"
|
}
|
],
|
"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": "2.546",
|
"profit": "6184243343.82"
|
},
|
"2027": {
|
"eps": "3.738",
|
"profit": "9079615718.46"
|
},
|
"2028": {
|
"eps": "4.961",
|
"profit": "12050287206.87"
|
}
|
},
|
"included": true,
|
"institution": "东方财富公开一致预期汇总（覆盖池10家）",
|
"report_date": "2026-08-04",
|
"source_id": "SRC-EM-CONSENSUS-20260804",
|
"statuses": [
|
"CURRENT"
|
]
|
}
|
],
|
"summary": {
|
"2026": {
|
"eps_mean": "2.546",
|
"eps_profit_reconciliation_gap": "0.00",
|
"institution_count": 1,
|
"pe_on_mean": "44.08091123330714846818538885",
|
"profit_max": "6184243343.82",
|
"profit_mean": "6184243343.82",
|
"profit_median": "6184243343.82",
|
"profit_min": "6184243343.82"
|
},
|
"2027": {
|
"eps_mean": "3.738",
|
"eps_profit_reconciliation_gap": "0.00",
|
"institution_count": 1,
|
"pe_on_mean": "30.02407704654895666131621188",
|
"profit_max": "9079615718.46",
|
"profit_mean": "9079615718.46",
|
"profit_median": "9079615718.46",
|
"profit_min": "9079615718.46"
|
},
|
"2028": {
|
"eps_mean": "4.961",
|
"eps_profit_reconciliation_gap": "0.00",
|
"institution_count": 1,
|
"pe_on_mean": "22.62245515017133642410804273",
|
"profit_max": "12050287206.87",
|
"profit_mean": "12050287206.87",
|
"profit_median": "12050287206.87",
|
"profit_min": "12050287206.87"
|
}
|
}
|
},
|
"meta": {
|
"as_of_date": "2026-08-04",
|
"code": "600183.SH",
|
"company": "生益科技",
|
"currency": "CNY",
|
"latest_operating_info_date": "2026-04-29",
|
"market": "上海证券交易所",
|
"report_period_end": "2026-03-31"
|
},
|
"metrics": {
|
"annual_cash_conversion": "1.581795283188648246900243534",
|
"annual_fcf": "2897974029.08",
|
"book_value_per_share": "7.380706564292675605549826115",
|
"current_fcf": "-280345265.19",
|
"deduct_pe": "73.71377746606237603333586778",
|
"diluted_shares": "2429003670.0",
|
"enterprise_value": "276281780715.980",
|
"market_cap": "272607081884.100",
|
"normalized_eps": "1.522510497466642345583611243",
|
"normalized_pe": "73.71377746606237683063298138",
|
"normalized_profit": "3698183585.95999996",
|
"pb": "15.20586125764173048466868518",
|
"price": "112.23",
|
"ps": "8.804790371944463594792795332",
|
"reported_pe": "69.39310134118768812281143360",
|
"ttm_attributable_profit": "3928446439.42",
|
"ttm_deduct_profit": "3698183585.96",
|
"ttm_eps": "1.617307741416463154211701953",
|
"ttm_revenue": "30961223421.37"
|
},
|
"normalization_adjustments": [
|
{
|
"amount": "-230262853.46000004",
|
"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": "5.6115",
|
"implied_margin": "0.4402395185972231797396397666",
|
"implied_profit": "13630354094.205",
|
"pe": "20"
|
},
|
{
|
"implied_eps": "4.4892",
|
"implied_margin": "0.3521916148777785437917118133",
|
"implied_profit": "10904283275.364",
|
"pe": "25"
|
},
|
{
|
"implied_eps": "3.741",
|
"implied_margin": "0.2934930123981487864930931777",
|
"implied_profit": "9086902729.470",
|
"pe": "30"
|
},
|
{
|
"implied_eps": "3.206571428571428571428571429",
|
"implied_margin": "0.2515654391984132455655084381",
|
"implied_profit": "7788773768.117142857142857143",
|
"pe": "35"
|
},
|
{
|
"implied_eps": "2.80575",
|
"implied_margin": "0.2201197592986115898698198833",
|
"implied_profit": "6815177047.1025",
|
"pe": "40"
|
},
|
{
|
"implied_eps": "2.2446",
|
"implied_margin": "0.1760958074388892718958559066",
|
"implied_profit": "5452141637.682",
|
"pe": "50"
|
},
|
{
|
"implied_eps": "1.8705",
|
"implied_margin": "0.1467465061990743932465465889",
|
"implied_profit": "4543451364.735",
|
"pe": "60"
|
},
|
{
|
"implied_eps": "1.4964",
|
"implied_margin": "0.1173972049592595145972372711",
|
"implied_profit": "3634761091.788",
|
"pe": "75"
|
},
|
{
|
"implied_eps": "1.1223",
|
"implied_margin": "0.08804790371944463594792795332",
|
"implied_profit": "2726070818.841",
|
"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": "-0.15380554321774342",
|
"cagr_low": "-0.2722228948503015",
|
"equity_value_high": "118273653950.70",
|
"equity_value_low": "55658190094.40",
|
"method": "pe",
|
"name": "悲观",
|
"price_high": "48.69225000005866602910484693",
|
"price_low": "22.91400000000823382864629431",
|
"role": "pessimistic",
|
"upside_to_high": "-0.5661387329585791140594774398",
|
"upside_to_low": "-0.7958299919806804434763762424"
|
},
|
{
|
"assumption": "以TTM归一化利润与10家机构覆盖池预期为锚，按行业成长和周期属性定价。",
|
"cagr_high": "0.03259961338121853",
|
"cagr_low": "-0.12584913651267515",
|
"equity_value_high": "320034593042.55",
|
"equity_value_low": "139145475235.80",
|
"method": "pe",
|
"name": "基准",
|
"price_high": "131.7554999999444216566375134",
|
"price_low": "57.28499999993824628515279271",
|
"role": "base",
|
"upside_to_high": "0.173977546110170379191281417",
|
"upside_to_low": "-0.4895749799524347653465847571"
|
},
|
{
|
"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": "0.188769718580728",
|
"cagr_low": "0.05247186540589288",
|
"equity_value_high": "647181065930.75",
|
"equity_value_low": "352038052346.85",
|
"method": "pe",
|
"name": "乐观",
|
"price_high": "266.4388999999946480113799087",
|
"price_low": "144.9310499999573899367554270",
|
"role": "optimistic",
|
"upside_to_high": "1.374043482134853853794706484",
|
"upside_to_low": "0.291375300721352489857929493"
|
}
|
]
|
}
|
