{
|
"conclusion": {
|
"base_midpoint": "30.21666666666666666666666666",
|
"price_label": "当前价格高于基准合理区间",
|
"price_position": "ABOVE_BASE_RANGE",
|
"safety_margin_to_base_midpoint": "-0.7513513513513513513513513517"
|
},
|
"engine_version": "1.0.0",
|
"holding_period": {
|
"cumulative_dividend_per_share": "0",
|
"required_exit_price": "85.2281892",
|
"required_profit_by_exit_pe": [
|
{
|
"exit_pe": "20",
|
"required_profit": "2003927798.56500000"
|
},
|
{
|
"exit_pe": "25",
|
"required_profit": "1603142238.85200000"
|
},
|
{
|
"exit_pe": "30",
|
"required_profit": "1335951865.71000000"
|
},
|
{
|
"exit_pe": "35",
|
"required_profit": "1145101599.18000000"
|
},
|
{
|
"exit_pe": "40",
|
"required_profit": "1001963899.28250000"
|
},
|
{
|
"exit_pe": "50",
|
"required_profit": "801571119.42600000"
|
},
|
{
|
"exit_pe": "60",
|
"required_profit": "667975932.85500000"
|
},
|
{
|
"exit_pe": "75",
|
"required_profit": "534380746.28400000"
|
},
|
{
|
"exit_pe": "100",
|
"required_profit": "400785559.71300000"
|
}
|
],
|
"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": "0.933333333333",
|
"profit": "438899999.99984324"
|
},
|
"2027": {
|
"eps": "1.286666666667",
|
"profit": "605055000.0001568"
|
},
|
"2028": {
|
"eps": "1.703333333333",
|
"profit": "800992499.9998432"
|
}
|
},
|
"included": true,
|
"institution": "东方财富公开一致预期汇总（覆盖池3家）",
|
"report_date": "2026-08-04",
|
"source_id": "SRC-EM-CONSENSUS-20260804",
|
"statuses": [
|
"CURRENT"
|
]
|
}
|
],
|
"summary": {
|
"2026": {
|
"eps_mean": "0.933333333333",
|
"eps_profit_reconciliation_gap": "0.00000000000000002278423331055723776808786273",
|
"institution_count": 1,
|
"pe_on_mean": "56.70000000002025129186603594",
|
"profit_max": "438899999.99984324",
|
"profit_mean": "438899999.99984324",
|
"profit_median": "438899999.99984324",
|
"profit_min": "438899999.99984324"
|
},
|
"2027": {
|
"eps_mean": "1.286666666667",
|
"eps_profit_reconciliation_gap": "0.00000000000000008263711563409449141031571342",
|
"institution_count": 1,
|
"pe_on_mean": "41.12953367874581796550590055",
|
"profit_max": "605055000.0001568",
|
"profit_mean": "605055000.0001568",
|
"profit_median": "605055000.0001568",
|
"profit_min": "605055000.0001568"
|
},
|
"2028": {
|
"eps_mean": "1.703333333333",
|
"eps_profit_reconciliation_gap": "0.00000000000000006242255701521523342221055222",
|
"institution_count": 1,
|
"pe_on_mean": "31.06849315069101338617531169",
|
"profit_max": "800992499.9998432",
|
"profit_mean": "800992499.9998432",
|
"profit_median": "800992499.9998432",
|
"profit_min": "800992499.9998432"
|
}
|
}
|
},
|
"meta": {
|
"as_of_date": "2026-08-04",
|
"code": "002222.SZ",
|
"company": "福晶科技",
|
"currency": "CNY",
|
"latest_operating_info_date": "2026-04-29",
|
"market": "深圳证券交易所",
|
"report_period_end": "2026-03-31"
|
},
|
"metrics": {
|
"annual_cash_conversion": "1.260000654492149214595930833",
|
"annual_fcf": "7899188.21",
|
"book_value_per_share": "3.887623486762360446570972887",
|
"current_fcf": "-201890206.23",
|
"deduct_pe": "90.47893450554038952087216349",
|
"diluted_shares": "470250000.0",
|
"enterprise_value": "25170268485.440",
|
"market_cap": "24885630000.000",
|
"normalized_eps": "0.5848875242530570547581073897",
|
"normalized_pe": "90.47893450554036320387688787",
|
"normalized_profit": "275043358.28000008",
|
"pb": "13.61242933637900712389159798",
|
"price": "52.92",
|
"ps": "20.02066442322994249656806659",
|
"reported_pe": "84.67371827237603863534589322",
|
"ttm_attributable_profit": "293900285.80",
|
"ttm_deduct_profit": "275043358.28",
|
"ttm_eps": "0.6249873169590643274853801170",
|
"ttm_revenue": "1242997208.98"
|
},
|
"normalization_adjustments": [
|
{
|
"amount": "-18856927.51999992",
|
"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": "2.646",
|
"implied_margin": "1.001033221161497124828403330",
|
"implied_profit": "1244281500.000",
|
"pe": "20"
|
},
|
{
|
"implied_eps": "2.1168",
|
"implied_margin": "0.8008265769291976998627226636",
|
"implied_profit": "995425200.000",
|
"pe": "25"
|
},
|
{
|
"implied_eps": "1.764",
|
"implied_margin": "0.6673554807743314165522688863",
|
"implied_profit": "829521000.000",
|
"pe": "30"
|
},
|
{
|
"implied_eps": "1.512",
|
"implied_margin": "0.5720189835208554999019447597",
|
"implied_profit": "711018000.000",
|
"pe": "35"
|
},
|
{
|
"implied_eps": "1.323",
|
"implied_margin": "0.5005166105807485624142016648",
|
"implied_profit": "622140750.000",
|
"pe": "40"
|
},
|
{
|
"implied_eps": "1.0584",
|
"implied_margin": "0.4004132884645988499313613318",
|
"implied_profit": "497712600.000",
|
"pe": "50"
|
},
|
{
|
"implied_eps": "0.882",
|
"implied_margin": "0.3336777403871657082761344432",
|
"implied_profit": "414760500.000",
|
"pe": "60"
|
},
|
{
|
"implied_eps": "0.7056",
|
"implied_margin": "0.2669421923097325666209075545",
|
"implied_profit": "331808400.000",
|
"pe": "75"
|
},
|
{
|
"implied_eps": "0.5292",
|
"implied_margin": "0.2002066442322994249656806659",
|
"implied_profit": "248856300.000",
|
"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": "-0.20638287193534055",
|
"cagr_low": "-0.32238908659951904",
|
"equity_value_high": "7834365000.0",
|
"equity_value_low": "3555090000.0",
|
"method": "pe",
|
"name": "悲观",
|
"price_high": "16.66",
|
"price_low": "7.56",
|
"role": "pessimistic",
|
"upside_to_high": "-0.6851851851851851851851851852",
|
"upside_to_low": "-0.8571428571428571428571428571"
|
},
|
{
|
"assumption": "以TTM归一化利润与3家机构覆盖池预期为锚，按行业成长和周期属性定价。",
|
"cagr_high": "-0.04096390136206962",
|
"cagr_low": "-0.19853669562178278",
|
"equity_value_high": "20189400000.0",
|
"equity_value_low": "8229375000.0",
|
"method": "pe",
|
"name": "基准",
|
"price_high": "42.93333333333333333333333333",
|
"price_low": "17.5",
|
"role": "base",
|
"upside_to_high": "-0.1887125220458553791887125221",
|
"upside_to_low": "-0.6693121693121693121693121693"
|
},
|
{
|
"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": "0.09325406622863985",
|
"cagr_low": "-0.022507370092934242",
|
"equity_value_high": "38864595000.0",
|
"equity_value_low": "22208340000.0",
|
"method": "pe",
|
"name": "乐观",
|
"price_high": "82.64666666666666666666666667",
|
"price_low": "47.22666666666666666666666667",
|
"role": "optimistic",
|
"upside_to_high": "0.561728395061728395061728395",
|
"upside_to_low": "-0.1075837742504409171075837742"
|
}
|
]
|
}
|
