{
|
"conclusion": {
|
"base_midpoint": "55.44",
|
"price_label": "当前价格处于基准合理区间",
|
"price_position": "WITHIN_BASE_RANGE",
|
"safety_margin_to_base_midpoint": "-0.1002886002886002886002886003"
|
},
|
"engine_version": "1.0.0",
|
"holding_period": {
|
"cumulative_dividend_per_share": "0",
|
"required_exit_price": "98.241110",
|
"required_profit_by_exit_pe": [
|
{
|
"exit_pe": "20",
|
"required_profit": "628362812.6631900"
|
},
|
{
|
"exit_pe": "25",
|
"required_profit": "502690250.1305520"
|
},
|
{
|
"exit_pe": "30",
|
"required_profit": "418908541.7754600"
|
},
|
{
|
"exit_pe": "35",
|
"required_profit": "359064464.3789657142857142857"
|
},
|
{
|
"exit_pe": "40",
|
"required_profit": "314181406.3315950"
|
},
|
{
|
"exit_pe": "50",
|
"required_profit": "251345125.0652760"
|
},
|
{
|
"exit_pe": "60",
|
"required_profit": "209454270.8877300"
|
},
|
{
|
"exit_pe": "75",
|
"required_profit": "167563416.7101840"
|
},
|
{
|
"exit_pe": "100",
|
"required_profit": "125672562.5326380"
|
}
|
],
|
"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": "1.12",
|
"profit": "143273289.60000002"
|
},
|
"2027": {
|
"eps": "1.55",
|
"profit": "198279999.0"
|
},
|
"2028": {
|
"eps": "1.883333333333",
|
"profit": "240920858.99995735"
|
}
|
},
|
"included": true,
|
"institution": "东方财富公开一致预期汇总（覆盖池4家）",
|
"report_date": "2026-08-04",
|
"source_id": "SRC-EM-CONSENSUS-20260804",
|
"statuses": [
|
"CURRENT"
|
]
|
}
|
],
|
"summary": {
|
"2026": {
|
"eps_mean": "1.12",
|
"eps_profit_reconciliation_gap": "0.0000000000000001395933607432155812532748961",
|
"institution_count": 1,
|
"pe_on_mean": "54.46428571428570668286160238",
|
"profit_max": "143273289.60000002",
|
"profit_mean": "143273289.60000002",
|
"profit_median": "143273289.60000002",
|
"profit_min": "143273289.60000002"
|
},
|
"2027": {
|
"eps_mean": "1.55",
|
"eps_profit_reconciliation_gap": "0.00",
|
"institution_count": 1,
|
"pe_on_mean": "39.35483870967741935483870968",
|
"profit_max": "198279999.0",
|
"profit_mean": "198279999.0",
|
"profit_median": "198279999.0",
|
"profit_min": "198279999.0"
|
},
|
"2028": {
|
"eps_mean": "1.883333333333",
|
"eps_profit_reconciliation_gap": "0.00000000000000003793776943158590533610150020",
|
"institution_count": 1,
|
"pe_on_mean": "32.38938053097918518993677614",
|
"profit_max": "240920858.99995735",
|
"profit_mean": "240920858.99995735",
|
"profit_median": "240920858.99995735",
|
"profit_min": "240920858.99995735"
|
}
|
}
|
},
|
"meta": {
|
"as_of_date": "2026-08-04",
|
"code": "301413.SZ",
|
"company": "安培龙",
|
"currency": "CNY",
|
"latest_operating_info_date": "2026-04-24",
|
"market": "深圳证券交易所",
|
"report_period_end": "2026-03-31"
|
},
|
"metrics": {
|
"annual_cash_conversion": "0.7748722830886601052482315155",
|
"annual_fcf": "-42952174.43",
|
"book_value_per_share": "9.929503101954322684861421651",
|
"current_fcf": "-47317801.48",
|
"deduct_pe": "116.8586517427659736800888667",
|
"diluted_shares": "127922580.0",
|
"enterprise_value": "8141833756.66000005",
|
"market_cap": "7803277380.00",
|
"normalized_eps": "0.5219981498184293617280076746",
|
"normalized_pe": "116.8586517427659465546735773",
|
"normalized_profit": "66775350.0800000155",
|
"pb": "6.143308418725806430050261754",
|
"price": "61.0",
|
"ps": "6.590743336037808115395017348",
|
"reported_pe": "106.2141622311434706299643639",
|
"ttm_attributable_profit": "73467390.94",
|
"ttm_deduct_profit": "66775350.08",
|
"ttm_eps": "0.5743113603556150915655390940",
|
"ttm_revenue": "1183975309.33"
|
},
|
"normalization_adjustments": [
|
{
|
"amount": "-6692040.8599999845",
|
"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": [
|
{
|
"action": "拆解营运资本、资本开支与回款持续性。",
|
"field": "metrics.annual_fcf",
|
"issue_id": "QA-NEGATIVE-FCF",
|
"message": "最近完整年度简化自由现金流为负。",
|
"recalc_scope": "DCF 与现金流交叉验证",
|
"severity": "WARNING"
|
}
|
],
|
"status": "PASS_WITH_WARNINGS",
|
"warning_count": 1
|
},
|
"reverse_pe": [
|
{
|
"implied_eps": "3.05",
|
"implied_margin": "0.3295371668018904057697508674",
|
"implied_profit": "390163869.00",
|
"pe": "20"
|
},
|
{
|
"implied_eps": "2.44",
|
"implied_margin": "0.2636297334415123246158006939",
|
"implied_profit": "312131095.20",
|
"pe": "25"
|
},
|
{
|
"implied_eps": "2.033333333333333333333333333",
|
"implied_margin": "0.2196914445345936038465005783",
|
"implied_profit": "260109246.00",
|
"pe": "30"
|
},
|
{
|
"implied_eps": "1.742857142857142857142857143",
|
"implied_margin": "0.1883069524582230890112862100",
|
"implied_profit": "222950782.2857142857142857143",
|
"pe": "35"
|
},
|
{
|
"implied_eps": "1.525",
|
"implied_margin": "0.1647685834009452028848754337",
|
"implied_profit": "195081934.50",
|
"pe": "40"
|
},
|
{
|
"implied_eps": "1.22",
|
"implied_margin": "0.1318148667207561623079003470",
|
"implied_profit": "156065547.60",
|
"pe": "50"
|
},
|
{
|
"implied_eps": "1.016666666666666666666666667",
|
"implied_margin": "0.1098457222672968019232502891",
|
"implied_profit": "130054623.00",
|
"pe": "60"
|
},
|
{
|
"implied_eps": "0.8133333333333333333333333333",
|
"implied_margin": "0.08787657781383744153860023131",
|
"implied_profit": "104043698.40",
|
"pe": "75"
|
},
|
{
|
"implied_eps": "0.61",
|
"implied_margin": "0.06590743336037808115395017348",
|
"implied_profit": "78032773.80",
|
"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": "-0.14081700349670856",
|
"cagr_low": "-0.2705288139688542",
|
"equity_value_high": "3653468884.80",
|
"equity_value_low": "1611824508.00",
|
"method": "pe",
|
"name": "悲观",
|
"price_high": "28.56",
|
"price_low": "12.6",
|
"role": "pessimistic",
|
"upside_to_high": "-0.5318032786885245901639344262",
|
"upside_to_low": "-0.7934426229508196721311475410"
|
},
|
{
|
"assumption": "以TTM归一化利润与4家机构覆盖池预期为锚，按行业成长和周期属性定价。",
|
"cagr_high": "0.04844935215830337",
|
"cagr_low": "-0.11243148396021141",
|
"equity_value_high": "9885856982.40",
|
"equity_value_low": "4298198688.0",
|
"method": "pe",
|
"name": "基准",
|
"price_high": "77.28",
|
"price_low": "33.6",
|
"role": "base",
|
"upside_to_high": "0.266885245901639344262295082",
|
"upside_to_low": "-0.4491803278688524590163934426"
|
},
|
{
|
"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": "0.20233806822059863",
|
"cagr_low": "0.06862663044342066",
|
"equity_value_high": "19606949682.10",
|
"equity_value_low": "10874442680.40",
|
"method": "pe",
|
"name": "乐观",
|
"price_high": "153.2720000026578575885508250",
|
"price_low": "85.00799999812386523161118233",
|
"role": "optimistic",
|
"upside_to_high": "1.512655737748489468664767623",
|
"upside_to_low": "0.393573770461046971010019382"
|
}
|
]
|
}
|
