{
|
"conclusion": {
|
"base_midpoint": "295.8862499998623684709612044",
|
"price_label": "当前价格处于基准合理区间",
|
"price_position": "WITHIN_BASE_RANGE",
|
"safety_margin_to_base_midpoint": "-0.1238778415697068756178702459"
|
},
|
"engine_version": "1.0.0",
|
"holding_period": {
|
"cumulative_dividend_per_share": "0",
|
"required_exit_price": "535.5589954",
|
"required_profit_by_exit_pe": [
|
{
|
"exit_pe": "20",
|
"required_profit": "18240244865.91193315"
|
},
|
{
|
"exit_pe": "25",
|
"required_profit": "14592195892.72954652"
|
},
|
{
|
"exit_pe": "30",
|
"required_profit": "12160163243.94128876666666667"
|
},
|
{
|
"exit_pe": "35",
|
"required_profit": "10422997066.23539037142857143"
|
},
|
{
|
"exit_pe": "40",
|
"required_profit": "9120122432.955966575"
|
},
|
{
|
"exit_pe": "50",
|
"required_profit": "7296097946.36477326"
|
},
|
{
|
"exit_pe": "60",
|
"required_profit": "6080081621.970644383333333333"
|
},
|
{
|
"exit_pe": "75",
|
"required_profit": "4864065297.576515506666666667"
|
},
|
{
|
"exit_pe": "100",
|
"required_profit": "3648048973.18238663"
|
}
|
],
|
"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": "7.97",
|
"profit": "5428897762.15"
|
},
|
"2027": {
|
"eps": "11.036111111111",
|
"profit": "7517430227.597146"
|
},
|
"2028": {
|
"eps": "14.702352941177",
|
"profit": "10014751691.429773"
|
}
|
},
|
"included": true,
|
"institution": "东方财富公开一致预期汇总（覆盖池18家）",
|
"report_date": "2026-08-04",
|
"source_id": "SRC-EM-CONSENSUS-20260804",
|
"statuses": [
|
"CURRENT"
|
]
|
}
|
],
|
"summary": {
|
"2026": {
|
"eps_mean": "7.97",
|
"eps_profit_reconciliation_gap": "0.0",
|
"institution_count": 1,
|
"pe_on_mean": "41.72396486825595984943538269",
|
"profit_max": "5428897762.15",
|
"profit_mean": "5428897762.15",
|
"profit_median": "5428897762.15",
|
"profit_min": "5428897762.15"
|
},
|
"2027": {
|
"eps_mean": "11.036111111111",
|
"eps_profit_reconciliation_gap": "0.00000000000000007143997133867111672428667788",
|
"institution_count": 1,
|
"pe_on_mean": "30.13199093883745628795138644",
|
"profit_max": "7517430227.597146",
|
"profit_mean": "7517430227.597146",
|
"profit_median": "7517430227.597146",
|
"profit_min": "7517430227.597146"
|
},
|
"2028": {
|
"eps_mean": "14.702352941177",
|
"eps_profit_reconciliation_gap": "0.00000000000000006167751523271318911883854860",
|
"institution_count": 1,
|
"pe_on_mean": "22.61814835560452943902818275",
|
"profit_max": "10014751691.429773",
|
"profit_mean": "10014751691.429773",
|
"profit_median": "10014751691.429773",
|
"profit_min": "10014751691.429773"
|
}
|
}
|
},
|
"meta": {
|
"as_of_date": "2026-08-04",
|
"code": "002916.SZ",
|
"company": "深南电路",
|
"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": "1.171749142309155140885535363",
|
"annual_fcf": "72910845.31",
|
"book_value_per_share": "26.55802904584597839828008595",
|
"current_fcf": "-1741472195.46",
|
"deduct_pe": "65.13220744854395635156425404",
|
"diluted_shares": "681166595.0",
|
"enterprise_value": "229258148690.3299998",
|
"market_cap": "226515139501.300",
|
"normalized_eps": "5.105615378731248410676979836",
|
"normalized_pe": "65.13220744854395822437701898",
|
"normalized_profit": "3477774642.9099999",
|
"pb": "12.52126049813224323549731150",
|
"price": "332.54",
|
"ps": "8.897018434849508817795076122",
|
"reported_pe": "62.32324812486375600095316356",
|
"ttm_attributable_profit": "3634520765.79",
|
"ttm_deduct_profit": "3477774642.91",
|
"ttm_eps": "5.335729603401940167074693380",
|
"ttm_revenue": "25459668445.11"
|
},
|
"normalization_adjustments": [
|
{
|
"amount": "-156746122.8800001",
|
"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": "16.627",
|
"implied_margin": "0.4448509217424754408897538061",
|
"implied_profit": "11325756975.065",
|
"pe": "20"
|
},
|
{
|
"implied_eps": "13.3016",
|
"implied_margin": "0.3558807373939803527118030449",
|
"implied_profit": "9060605580.052",
|
"pe": "25"
|
},
|
{
|
"implied_eps": "11.08466666666666666666666667",
|
"implied_margin": "0.2965672811616502939265025374",
|
"implied_profit": "7550504650.043333333333333333",
|
"pe": "30"
|
},
|
{
|
"implied_eps": "9.501142857142857142857142857",
|
"implied_margin": "0.2542005267099859662227164606",
|
"implied_profit": "6471861128.608571428571428571",
|
"pe": "35"
|
},
|
{
|
"implied_eps": "8.3135",
|
"implied_margin": "0.2224254608712377204448769031",
|
"implied_profit": "5662878487.5325",
|
"pe": "40"
|
},
|
{
|
"implied_eps": "6.6508",
|
"implied_margin": "0.1779403686969901763559015224",
|
"implied_profit": "4530302790.026",
|
"pe": "50"
|
},
|
{
|
"implied_eps": "5.542333333333333333333333333",
|
"implied_margin": "0.1482836405808251469632512687",
|
"implied_profit": "3775252325.021666666666666667",
|
"pe": "60"
|
},
|
{
|
"implied_eps": "4.433866666666666666666666667",
|
"implied_margin": "0.1186269124646601175706010150",
|
"implied_profit": "3020201860.017333333333333333",
|
"pe": "75"
|
},
|
{
|
"implied_eps": "3.3254",
|
"implied_margin": "0.08897018434849508817795076122",
|
"implied_profit": "2265151395.013",
|
"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": "-0.14445437545578033",
|
"cagr_low": "-0.2641803394432325",
|
"equity_value_high": "103827669701.10",
|
"equity_value_low": "48860079859.40",
|
"method": "pe",
|
"name": "悲观",
|
"price_high": "152.4262499999724736941922409",
|
"price_low": "71.73000000007340348215402430",
|
"role": "pessimistic",
|
"upside_to_high": "-0.5416303301859250806092733479",
|
"upside_to_low": "-0.7842966259695874075835868638"
|
},
|
{
|
"assumption": "以TTM归一化利润与18家机构覆盖池预期为锚，按行业成长和周期属性定价。",
|
"cagr_high": "0.04401071651303612",
|
"cagr_low": "-0.11618902670163311",
|
"equity_value_high": "280945459191.15",
|
"equity_value_low": "122150199648.30",
|
"method": "pe",
|
"name": "基准",
|
"price_high": "412.4474999998348421651534453",
|
"price_low": "179.3249999998898947767689635",
|
"role": "base",
|
"upside_to_high": "0.240294400673106520013091494",
|
"upside_to_low": "-0.4607415649248514621496091793"
|
},
|
{
|
"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": "0.20190663407331155",
|
"cagr_low": "0.06410257380817952",
|
"equity_value_high": "568134150808.90",
|
"equity_value_low": "309040005110.40",
|
"method": "pe",
|
"name": "乐观",
|
"price_high": "834.0604999998568632097996526",
|
"price_low": "453.6922500000165157834846555",
|
"role": "optimistic",
|
"upside_to_high": "1.508150899139522653544835667",
|
"upside_to_low": "0.364323840741013158668084006"
|
}
|
]
|
}
|
