{
|
"conclusion": {
|
"base_midpoint": "29.73643750036342762571800252",
|
"price_label": "当前价格高于基准合理区间",
|
"price_position": "ABOVE_BASE_RANGE",
|
"safety_margin_to_base_midpoint": "-1.374864171242332197757133734"
|
},
|
"engine_version": "1.0.0",
|
"holding_period": {
|
"cumulative_dividend_per_share": "0",
|
"required_exit_price": "113.7342162",
|
"required_profit_by_exit_pe": [
|
{
|
"exit_pe": "20",
|
"required_profit": "1907031361.74498750"
|
},
|
{
|
"exit_pe": "25",
|
"required_profit": "1525625089.39599000"
|
},
|
{
|
"exit_pe": "30",
|
"required_profit": "1271354241.16332500"
|
},
|
{
|
"exit_pe": "35",
|
"required_profit": "1089732206.711421428571428571"
|
},
|
{
|
"exit_pe": "40",
|
"required_profit": "953515680.87249375"
|
},
|
{
|
"exit_pe": "50",
|
"required_profit": "762812544.69799500"
|
},
|
{
|
"exit_pe": "60",
|
"required_profit": "635677120.58166250"
|
},
|
{
|
"exit_pe": "75",
|
"required_profit": "508541696.46533000"
|
},
|
{
|
"exit_pe": "100",
|
"required_profit": "381406272.34899750"
|
}
|
],
|
"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": "0.9185",
|
"profit": "308017826.875"
|
},
|
"2027": {
|
"eps": "1.104833333333",
|
"profit": "370504477.2915549"
|
},
|
"2028": {
|
"eps": "1.1425",
|
"profit": "383135946.875"
|
}
|
},
|
"included": true,
|
"institution": "东方财富公开一致预期汇总（覆盖池6家）",
|
"report_date": "2026-08-04",
|
"source_id": "SRC-EM-CONSENSUS-20260804",
|
"statuses": [
|
"CURRENT"
|
]
|
}
|
],
|
"summary": {
|
"2026": {
|
"eps_mean": "0.9185",
|
"eps_profit_reconciliation_gap": "0.00",
|
"institution_count": 1,
|
"pe_on_mean": "76.88622754491017964071856287",
|
"profit_max": "308017826.875",
|
"profit_mean": "308017826.875",
|
"profit_median": "308017826.875",
|
"profit_min": "308017826.875"
|
},
|
"2027": {
|
"eps_mean": "1.104833333333",
|
"eps_profit_reconciliation_gap": "0.00000000000000004385911910914010065807266579",
|
"institution_count": 1,
|
"pe_on_mean": "63.91914315886677020701942746",
|
"profit_max": "370504477.2915549",
|
"profit_mean": "370504477.2915549",
|
"profit_median": "370504477.2915549",
|
"profit_min": "370504477.2915549"
|
},
|
"2028": {
|
"eps_mean": "1.1425",
|
"eps_profit_reconciliation_gap": "0.00",
|
"institution_count": 1,
|
"pe_on_mean": "61.81181619256017505470459519",
|
"profit_max": "383135946.875",
|
"profit_mean": "383135946.875",
|
"profit_median": "383135946.875",
|
"profit_min": "383135946.875"
|
}
|
}
|
},
|
"meta": {
|
"as_of_date": "2026-08-04",
|
"code": "301550.SZ",
|
"company": "斯菱智驱",
|
"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": "1.076522310779364913261407212",
|
"annual_fcf": "53500375.42",
|
"book_value_per_share": "5.570359868972226972666515083",
|
"current_fcf": "-1953077.32",
|
"deduct_pe": "148.8367804504960700533952155",
|
"diluted_shares": "335348750.0",
|
"enterprise_value": "22730863610.380",
|
"market_cap": "23682328725.000",
|
"normalized_eps": "0.4744794921406445379623451705",
|
"normalized_pe": "148.8367804504960981153153148",
|
"normalized_profit": "159116104.58999997",
|
"pb": "12.67781645372041605574371948",
|
"price": "70.62",
|
"ps": "29.41127862812017622780272321",
|
"reported_pe": "143.2019220350087348247201397",
|
"ttm_attributable_profit": "165377170.84",
|
"ttm_deduct_profit": "159116104.59",
|
"ttm_eps": "0.4931498055084445670365552280",
|
"ttm_revenue": "805212484.11"
|
},
|
"normalization_adjustments": [
|
{
|
"amount": "-6261066.25000003",
|
"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": "3.531",
|
"implied_margin": "1.470563931406008811390136160",
|
"implied_profit": "1184116436.250",
|
"pe": "20"
|
},
|
{
|
"implied_eps": "2.8248",
|
"implied_margin": "1.176451145124807049112108928",
|
"implied_profit": "947293149.000",
|
"pe": "25"
|
},
|
{
|
"implied_eps": "2.354",
|
"implied_margin": "0.9803759542706725409267574402",
|
"implied_profit": "789410957.500",
|
"pe": "30"
|
},
|
{
|
"implied_eps": "2.017714285714285714285714286",
|
"implied_margin": "0.8403222465177193207943635202",
|
"implied_profit": "676637963.5714285714285714286",
|
"pe": "35"
|
},
|
{
|
"implied_eps": "1.7655",
|
"implied_margin": "0.7352819657030044056950680802",
|
"implied_profit": "592058218.125",
|
"pe": "40"
|
},
|
{
|
"implied_eps": "1.4124",
|
"implied_margin": "0.5882255725624035245560544641",
|
"implied_profit": "473646574.500",
|
"pe": "50"
|
},
|
{
|
"implied_eps": "1.177",
|
"implied_margin": "0.4901879771353362704633787201",
|
"implied_profit": "394705478.750",
|
"pe": "60"
|
},
|
{
|
"implied_eps": "0.9416",
|
"implied_margin": "0.3921503817082690163707029761",
|
"implied_profit": "315764383.000",
|
"pe": "75"
|
},
|
{
|
"implied_eps": "0.7062",
|
"implied_margin": "0.2941127862812017622780272321",
|
"implied_profit": "236823287.250",
|
"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": "-0.25327974203996306",
|
"cagr_low": "-0.36243085216221527",
|
"equity_value_high": "5498118209.64",
|
"equity_value_low": "2494944397.62",
|
"method": "pe",
|
"name": "悲观",
|
"price_high": "16.39522499976516984184375221",
|
"price_low": "7.439849999798717007294644754",
|
"role": "pessimistic",
|
"upside_to_high": "-0.7678387850500542361676047549",
|
"upside_to_low": "-0.8946495327131306002931939287"
|
},
|
{
|
"assumption": "以TTM归一化利润与6家机构覆盖池预期为锚，按行业成长和周期属性定价。",
|
"cagr_high": "-0.09763580239522729",
|
"cagr_low": "-0.2458972163895844",
|
"equity_value_high": "14168820036.40",
|
"equity_value_low": "5775334254.00",
|
"method": "pe",
|
"name": "基准",
|
"price_high": "42.25100000044729553934523388",
|
"price_low": "17.22187500027955971209077117",
|
"role": "base",
|
"upside_to_high": "-0.4017133956322954469081671781",
|
"upside_to_low": "-0.7561331775661348100808443618"
|
},
|
{
|
"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": "0.028650881494517444",
|
"cagr_low": "-0.08026991486248314",
|
"equity_value_high": "27274978569.85",
|
"equity_value_low": "15585702040.0",
|
"method": "pe",
|
"name": "乐观",
|
"price_high": "81.33317500020501045553323219",
|
"price_low": "46.47610000037274628278769490",
|
"role": "optimistic",
|
"upside_to_high": "0.151701713398541637716415069",
|
"upside_to_low": "-0.3418847351972140146872317346"
|
}
|
]
|
}
|
