{
|
"conclusion": {
|
"base_midpoint": "37.35128571425526280574668315",
|
"price_label": "当前价格高于乐观情景上限",
|
"price_position": "ABOVE_OPTIMISTIC_RANGE",
|
"safety_margin_to_base_midpoint": "-1.842740161939753305549477561"
|
},
|
"engine_version": "1.0.0",
|
"holding_period": {
|
"cumulative_dividend_per_share": "0",
|
"required_exit_price": "171.0039518",
|
"required_profit_by_exit_pe": [
|
{
|
"exit_pe": "20",
|
"required_profit": "3529818530.61469588"
|
},
|
{
|
"exit_pe": "25",
|
"required_profit": "2823854824.491756704"
|
},
|
{
|
"exit_pe": "30",
|
"required_profit": "2353212353.743130586666666667"
|
},
|
{
|
"exit_pe": "35",
|
"required_profit": "2017039160.351254788571428571"
|
},
|
{
|
"exit_pe": "40",
|
"required_profit": "1764909265.30734794"
|
},
|
{
|
"exit_pe": "50",
|
"required_profit": "1411927412.245878352"
|
},
|
{
|
"exit_pe": "60",
|
"required_profit": "1176606176.871565293333333333"
|
},
|
{
|
"exit_pe": "75",
|
"required_profit": "941284941.4972522346666666667"
|
},
|
{
|
"exit_pe": "100",
|
"required_profit": "705963706.122939176"
|
}
|
],
|
"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": "0.754571428571",
|
"profit": "311513293.4889659"
|
},
|
"2027": {
|
"eps": "1.253857142857",
|
"profit": "517635777.5376553"
|
},
|
"2028": {
|
"eps": "1.8282",
|
"profit": "754744457.0424"
|
}
|
},
|
"included": true,
|
"institution": "东方财富公开一致预期汇总（覆盖池7家）",
|
"report_date": "2026-08-04",
|
"source_id": "SRC-EM-CONSENSUS-20260804",
|
"statuses": [
|
"CURRENT"
|
]
|
}
|
],
|
"summary": {
|
"2026": {
|
"eps_mean": "0.754571428571",
|
"eps_profit_reconciliation_gap": "0.00000000000000008979392078813739324857539927",
|
"institution_count": 1,
|
"pe_on_mean": "140.7156380159830014491248607",
|
"profit_max": "311513293.4889659",
|
"profit_mean": "311513293.4889659",
|
"profit_median": "311513293.4889659",
|
"profit_min": "311513293.4889659"
|
},
|
"2027": {
|
"eps_mean": "1.253857142857",
|
"eps_profit_reconciliation_gap": "0.00000000000000001801266528436923524846095310",
|
"institution_count": 1,
|
"pe_on_mean": "84.68269340322259269471309352",
|
"profit_max": "517635777.5376553",
|
"profit_mean": "517635777.5376553",
|
"profit_median": "517635777.5376553",
|
"profit_min": "517635777.5376553"
|
},
|
"2028": {
|
"eps_mean": "1.8282",
|
"eps_profit_reconciliation_gap": "0.0",
|
"institution_count": 1,
|
"pe_on_mean": "58.07898479378623782955912920",
|
"profit_max": "754744457.0424",
|
"profit_mean": "754744457.0424",
|
"profit_median": "754744457.0424",
|
"profit_min": "754744457.0424"
|
}
|
}
|
},
|
"meta": {
|
"as_of_date": "2026-08-04",
|
"code": "688322.SH",
|
"company": "奥比中光",
|
"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": "0.6467366692051705612025408326",
|
"annual_fcf": "19607730.75",
|
"book_value_per_share": "7.253295638967701971354483808",
|
"current_fcf": "-134657738.20",
|
"deduct_pe": "491.4529100135566889124502186",
|
"diluted_shares": "412834732.0",
|
"enterprise_value": "43148775508.520",
|
"market_cap": "43834791843.760",
|
"normalized_eps": "0.2160532531938228249652211917",
|
"normalized_pe": "491.4529100135567440115969470",
|
"normalized_profit": "89194286.87999999",
|
"pb": "14.63886284043864910651800195",
|
"price": "106.18",
|
"ps": "46.01723542208836740477704508",
|
"reported_pe": "325.6875999153199897643750934",
|
"ttm_attributable_profit": "134591528.37",
|
"ttm_deduct_profit": "89194286.88",
|
"ttm_eps": "0.3260179387474598430831638458",
|
"ttm_revenue": "952573344.35"
|
},
|
"normalization_adjustments": [
|
{
|
"amount": "-45397241.49000001",
|
"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": "5.309",
|
"implied_margin": "2.300861771104418370238852254",
|
"implied_profit": "2191739592.188",
|
"pe": "20"
|
},
|
{
|
"implied_eps": "4.2472",
|
"implied_margin": "1.840689416883534696191081803",
|
"implied_profit": "1753391673.7504",
|
"pe": "25"
|
},
|
{
|
"implied_eps": "3.539333333333333333333333333",
|
"implied_margin": "1.533907847402945580159234836",
|
"implied_profit": "1461159728.125333333333333333",
|
"pe": "30"
|
},
|
{
|
"implied_eps": "3.033714285714285714285714286",
|
"implied_margin": "1.314778154916810497279344146",
|
"implied_profit": "1252422624.107428571428571429",
|
"pe": "35"
|
},
|
{
|
"implied_eps": "2.6545",
|
"implied_margin": "1.150430885552209185119426127",
|
"implied_profit": "1095869796.094",
|
"pe": "40"
|
},
|
{
|
"implied_eps": "2.1236",
|
"implied_margin": "0.9203447084417673480955409016",
|
"implied_profit": "876695836.8752",
|
"pe": "50"
|
},
|
{
|
"implied_eps": "1.769666666666666666666666667",
|
"implied_margin": "0.7669539237014727900796174181",
|
"implied_profit": "730579864.0626666666666666667",
|
"pe": "60"
|
},
|
{
|
"implied_eps": "1.415733333333333333333333333",
|
"implied_margin": "0.6135631389611782320636939344",
|
"implied_profit": "584463891.2501333333333333333",
|
"pe": "75"
|
},
|
{
|
"implied_eps": "1.0618",
|
"implied_margin": "0.4601723542208836740477704508",
|
"implied_profit": "438347918.4376",
|
"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": "-0.28937650336559895",
|
"cagr_low": "-0.39666012127711425",
|
"equity_value_high": "7943588984.0",
|
"equity_value_low": "3504524551.75",
|
"method": "pe",
|
"name": "悲观",
|
"price_high": "19.24157142863648400590481326",
|
"price_low": "8.488928571421650637669700717",
|
"role": "pessimistic",
|
"upside_to_high": "-0.8187834674266671312308832807",
|
"upside_to_low": "-0.9200515297473945127362054933"
|
},
|
{
|
"assumption": "以TTM归一化利润与7家机构覆盖池预期为锚，按行业成长和周期属性定价。",
|
"cagr_high": "-0.13283578969151288",
|
"cagr_low": "-0.2658990634835554",
|
"equity_value_high": "21494417250.60",
|
"equity_value_low": "9345398804.80",
|
"method": "pe",
|
"name": "基准",
|
"price_high": "52.06542857106315366896019785",
|
"price_low": "22.63714285744737194253316845",
|
"role": "base",
|
"upside_to_high": "-0.5096493824537280686667903762",
|
"upside_to_low": "-0.7868040793233436434118179652"
|
},
|
{
|
"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": "-0.005555643384286046",
|
"cagr_low": "-0.1161473215667631",
|
"equity_value_high": "42630594214.20",
|
"equity_value_low": "23643858975.60",
|
"method": "pe",
|
"name": "乐观",
|
"price_high": "103.2631000005106159527294811",
|
"price_low": "57.27197142802413242691993270",
|
"role": "optimistic",
|
"upside_to_high": "-0.0274712751882594089967085977",
|
"upside_to_low": "-0.4606143207004696512815979215"
|
}
|
]
|
}
|
