{
|
"conclusion": {
|
"base_midpoint": "134.6152499999273861907224348",
|
"price_label": "当前价格处于基准合理区间",
|
"price_position": "WITHIN_BASE_RANGE",
|
"safety_margin_to_base_midpoint": "-0.3303841875277623022923407970"
|
},
|
"engine_version": "1.0.0",
|
"holding_period": {
|
"cumulative_dividend_per_share": "0",
|
"required_exit_price": "288.4262359",
|
"required_profit_by_exit_pe": [
|
{
|
"exit_pe": "20",
|
"required_profit": "26414183305.04243994"
|
},
|
{
|
"exit_pe": "25",
|
"required_profit": "21131346644.033951952"
|
},
|
{
|
"exit_pe": "30",
|
"required_profit": "17609455536.69495996"
|
},
|
{
|
"exit_pe": "35",
|
"required_profit": "15093819031.45282282285714286"
|
},
|
{
|
"exit_pe": "40",
|
"required_profit": "13207091652.52121997"
|
},
|
{
|
"exit_pe": "50",
|
"required_profit": "10565673322.016975976"
|
},
|
{
|
"exit_pe": "60",
|
"required_profit": "8804727768.34747998"
|
},
|
{
|
"exit_pe": "75",
|
"required_profit": "7043782214.677983984"
|
},
|
{
|
"exit_pe": "100",
|
"required_profit": "5282836661.008487988"
|
}
|
],
|
"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": "3.885",
|
"profit": "7115795261.82"
|
},
|
"2027": {
|
"eps": "8.023333333333",
|
"profit": "14695597765.079388"
|
},
|
"2028": {
|
"eps": "13.925",
|
"profit": "25505134883.100002"
|
}
|
},
|
"included": true,
|
"institution": "东方财富公开一致预期汇总（覆盖池12家）",
|
"report_date": "2026-08-04",
|
"source_id": "SRC-EM-CONSENSUS-20260804",
|
"statuses": [
|
"CURRENT"
|
]
|
}
|
],
|
"summary": {
|
"2026": {
|
"eps_mean": "3.885",
|
"eps_profit_reconciliation_gap": "0.00",
|
"institution_count": 1,
|
"pe_on_mean": "46.09781209781209781209781210",
|
"profit_max": "7115795261.82",
|
"profit_mean": "7115795261.82",
|
"profit_median": "7115795261.82",
|
"profit_min": "7115795261.82"
|
},
|
"2027": {
|
"eps_mean": "8.023333333333",
|
"eps_profit_reconciliation_gap": "0.00000000000000009963228603597333096141503906",
|
"institution_count": 1,
|
"pe_on_mean": "22.32114665558879828317797704",
|
"profit_max": "14695597765.079388",
|
"profit_mean": "14695597765.079388",
|
"profit_median": "14695597765.079388",
|
"profit_min": "14695597765.079388"
|
},
|
"2028": {
|
"eps_mean": "13.925",
|
"eps_profit_reconciliation_gap": "0.00000000000000007841558216283824406358274149",
|
"institution_count": 1,
|
"pe_on_mean": "12.86104129263913723206846610",
|
"profit_max": "25505134883.100002",
|
"profit_mean": "25505134883.100002",
|
"profit_median": "25505134883.100002",
|
"profit_min": "25505134883.100002"
|
}
|
}
|
},
|
"meta": {
|
"as_of_date": "2026-08-04",
|
"code": "002384.SZ",
|
"company": "东山精密",
|
"currency": "CNY",
|
"latest_operating_info_date": "2026-05-23",
|
"market": "深圳证券交易所",
|
"report_period_end": "2026-03-31"
|
},
|
"metrics": {
|
"annual_cash_conversion": "3.828922320766520035823780054",
|
"annual_fcf": "923887530.64",
|
"book_value_per_share": "12.35947083886527717117948606",
|
"current_fcf": "-1033299099.90",
|
"deduct_pe": "201.4232198904089425573213340",
|
"diluted_shares": "1831607532.0",
|
"enterprise_value": "341346602290.970",
|
"market_cap": "328022592905.880",
|
"normalized_eps": "0.8891229129265232241903665637",
|
"normalized_pe": "201.4232198904089301888703832",
|
"normalized_profit": "1628524224.1900001",
|
"pb": "14.49010255656238517108567657",
|
"price": "179.09",
|
"ps": "7.344843695031232315702373694",
|
"reported_pe": "160.7877255860065450060964425",
|
"ttm_attributable_profit": "2040097225.77",
|
"ttm_deduct_profit": "1628524224.19",
|
"ttm_eps": "1.113828803456787706636270810",
|
"ttm_revenue": "44660255074.97"
|
},
|
"normalization_adjustments": [
|
{
|
"amount": "-411573001.5799999",
|
"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": "8.9545",
|
"implied_margin": "0.3672421847515616157851186847",
|
"implied_profit": "16401129645.294",
|
"pe": "20"
|
},
|
{
|
"implied_eps": "7.1636",
|
"implied_margin": "0.2937937478012492926280949478",
|
"implied_profit": "13120903716.2352",
|
"pe": "25"
|
},
|
{
|
"implied_eps": "5.969666666666666666666666667",
|
"implied_margin": "0.2448281231677077438567457898",
|
"implied_profit": "10934086430.196",
|
"pe": "30"
|
},
|
{
|
"implied_eps": "5.116857142857142857142857143",
|
"implied_margin": "0.2098526770008923518772106770",
|
"implied_profit": "9372074083.025142857142857143",
|
"pe": "35"
|
},
|
{
|
"implied_eps": "4.47725",
|
"implied_margin": "0.1836210923757808078925593424",
|
"implied_profit": "8200564822.647",
|
"pe": "40"
|
},
|
{
|
"implied_eps": "3.5818",
|
"implied_margin": "0.1468968739006246463140474739",
|
"implied_profit": "6560451858.1176",
|
"pe": "50"
|
},
|
{
|
"implied_eps": "2.984833333333333333333333333",
|
"implied_margin": "0.1224140615838538719283728949",
|
"implied_profit": "5467043215.098",
|
"pe": "60"
|
},
|
{
|
"implied_eps": "2.387866666666666666666666667",
|
"implied_margin": "0.09793124926708309754269831592",
|
"implied_profit": "4373634572.0784",
|
"pe": "75"
|
},
|
{
|
"implied_eps": "1.7909",
|
"implied_margin": "0.07344843695031232315702373694",
|
"implied_profit": "3280225929.0588",
|
"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": "-0.172836082436982",
|
"cagr_low": "-0.29374596654852947",
|
"equity_value_high": "127016945423.48",
|
"equity_value_low": "57637941620.76",
|
"method": "pe",
|
"name": "悲观",
|
"price_high": "69.34724999999617822056433867",
|
"price_low": "31.46850000000982743283455770",
|
"role": "pessimistic",
|
"upside_to_high": "-0.6127798872075706168933813241",
|
"upside_to_low": "-0.8242866715058918564250680792"
|
},
|
{
|
"assumption": "以TTM归一化利润与12家机构覆盖池预期为锚，按行业成长和周期属性定价。",
|
"cagr_high": "0.00937690460252738",
|
"cagr_low": "-0.14550840295857304",
|
"equity_value_high": "343692911145.78",
|
"equity_value_low": "149431700498.08",
|
"method": "pe",
|
"name": "基准",
|
"price_high": "187.6454999999312079701580961",
|
"price_low": "81.58499999992356441128677342",
|
"role": "base",
|
"upside_to_high": "0.047772069908600189682048669",
|
"upside_to_low": "-0.5444469261269553609286572482"
|
},
|
{
|
"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": "0.15946958988900328",
|
"cagr_low": "0.028802238464954666",
|
"equity_value_high": "687385822291.80",
|
"equity_value_low": "378062202260.4",
|
"method": "pe",
|
"name": "乐观",
|
"price_high": "375.2909999999934483781102949",
|
"price_low": "206.4100499999472594437878737",
|
"role": "optimistic",
|
"upside_to_high": "1.095544139817932036284048774",
|
"upside_to_low": "0.152549276899588248611245037"
|
}
|
]
|
}
|
