{
|
"conclusion": {
|
"base_midpoint": "111.5899342104531883987781047",
|
"price_label": "当前价格处于基准合理区间",
|
"price_position": "WITHIN_BASE_RANGE",
|
"safety_margin_to_base_midpoint": "-0.001613638280377657362841489349"
|
},
|
"engine_version": "1.0.0",
|
"holding_period": {
|
"cumulative_dividend_per_share": "0",
|
"required_exit_price": "180.0067027",
|
"required_profit_by_exit_pe": [
|
{
|
"exit_pe": "20",
|
"required_profit": "17319916754.573972495"
|
},
|
{
|
"exit_pe": "25",
|
"required_profit": "13855933403.659177996"
|
},
|
{
|
"exit_pe": "30",
|
"required_profit": "11546611169.71598166333333333"
|
},
|
{
|
"exit_pe": "35",
|
"required_profit": "9897095288.327984282857142857"
|
},
|
{
|
"exit_pe": "40",
|
"required_profit": "8659958377.2869862475"
|
},
|
{
|
"exit_pe": "50",
|
"required_profit": "6927966701.829588998"
|
},
|
{
|
"exit_pe": "60",
|
"required_profit": "5773305584.857990831666666667"
|
},
|
{
|
"exit_pe": "75",
|
"required_profit": "4618644467.886392665333333333"
|
},
|
{
|
"exit_pe": "100",
|
"required_profit": "3463983350.914794499"
|
}
|
],
|
"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": "3.005789473684",
|
"profit": "5784231663.055911"
|
},
|
"2027": {
|
"eps": "4.598947368421",
|
"profit": "8850046624.371479"
|
},
|
"2028": {
|
"eps": "6.862352941176",
|
"profit": "13205661778.0238"
|
}
|
},
|
"included": true,
|
"institution": "东方财富公开一致预期汇总（覆盖池19家）",
|
"report_date": "2026-08-04",
|
"source_id": "SRC-EM-CONSENSUS-20260804",
|
"statuses": [
|
"CURRENT"
|
]
|
}
|
],
|
"summary": {
|
"2026": {
|
"eps_mean": "3.005789473684",
|
"eps_profit_reconciliation_gap": "0.00000000000000005872724672658334723898661361",
|
"institution_count": 1,
|
"pe_on_mean": "37.18490632113725468237334238",
|
"profit_max": "5784231663.055911",
|
"profit_mean": "5784231663.055911",
|
"profit_median": "5784231663.055911",
|
"profit_min": "5784231663.055911"
|
},
|
"2027": {
|
"eps_mean": "4.598947368421",
|
"eps_profit_reconciliation_gap": "0.0000000000000001508379624039330783715597004",
|
"institution_count": 1,
|
"pe_on_mean": "24.30338750286134107419868118",
|
"profit_max": "8850046624.371479",
|
"profit_mean": "8850046624.371479",
|
"profit_median": "8850046624.371479",
|
"profit_min": "8850046624.371479"
|
},
|
"2028": {
|
"eps_mean": "6.862352941176",
|
"eps_profit_reconciliation_gap": "0.00000000000000002268057481969081234175550597",
|
"institution_count": 1,
|
"pe_on_mean": "16.28741642379676275009878093",
|
"profit_max": "13205661778.0238",
|
"profit_mean": "13205661778.0238",
|
"profit_median": "13205661778.0238",
|
"profit_min": "13205661778.0238"
|
}
|
}
|
},
|
"meta": {
|
"as_of_date": "2026-08-04",
|
"code": "002463.SZ",
|
"company": "沪电股份",
|
"currency": "CNY",
|
"latest_operating_info_date": "2026-04-23",
|
"market": "深圳证券交易所",
|
"report_period_end": "2026-03-31"
|
},
|
"metrics": {
|
"annual_cash_conversion": "1.012992553831646487170874203",
|
"annual_fcf": "673472033.0",
|
"book_value_per_share": "8.724895094496898067134806660",
|
"current_fcf": "-956211076.0",
|
"deduct_pe": "51.48044160695825987384652652",
|
"diluted_shares": "1924363537.0",
|
"enterprise_value": "217062183213.490",
|
"market_cap": "215086112530.490",
|
"normalized_eps": "2.171115796817345328862360376",
|
"normalized_pe": "51.48044160695825987384652652",
|
"normalized_profit": "4178016074.0",
|
"pb": "12.81046921360662753301282503",
|
"price": "111.77",
|
"ps": "10.18315792735124047912776171",
|
"reported_pe": "49.99767559268753207233414151",
|
"ttm_attributable_profit": "4301922239.0",
|
"ttm_deduct_profit": "4178016074.0",
|
"ttm_eps": "2.235503924433380073964683524",
|
"ttm_revenue": "21121749664.0"
|
},
|
"normalization_adjustments": [
|
{
|
"amount": "-123906165.0",
|
"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": "5.5885",
|
"implied_margin": "0.5091578963675620239563880857",
|
"implied_profit": "10754305626.5245",
|
"pe": "20"
|
},
|
{
|
"implied_eps": "4.4708",
|
"implied_margin": "0.4073263170940496191651104686",
|
"implied_profit": "8603444501.2196",
|
"pe": "25"
|
},
|
{
|
"implied_eps": "3.725666666666666666666666667",
|
"implied_margin": "0.3394385975783746826375920572",
|
"implied_profit": "7169537084.349666666666666667",
|
"pe": "30"
|
},
|
{
|
"implied_eps": "3.193428571428571428571428571",
|
"implied_margin": "0.2909473693528925851179360490",
|
"implied_profit": "6145317500.871142857142857143",
|
"pe": "35"
|
},
|
{
|
"implied_eps": "2.79425",
|
"implied_margin": "0.2545789481837810119781940429",
|
"implied_profit": "5377152813.26225",
|
"pe": "40"
|
},
|
{
|
"implied_eps": "2.2354",
|
"implied_margin": "0.2036631585470248095825552343",
|
"implied_profit": "4301722250.6098",
|
"pe": "50"
|
},
|
{
|
"implied_eps": "1.862833333333333333333333333",
|
"implied_margin": "0.1697192987891873413187960286",
|
"implied_profit": "3584768542.174833333333333333",
|
"pe": "60"
|
},
|
{
|
"implied_eps": "1.490266666666666666666666667",
|
"implied_margin": "0.1357754390313498730550368229",
|
"implied_profit": "2867814833.739866666666666667",
|
"pe": "75"
|
},
|
{
|
"implied_eps": "1.1177",
|
"implied_margin": "0.1018315792735124047912776171",
|
"implied_profit": "2150861125.3049",
|
"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": "-0.12451854620172487",
|
"cagr_low": "-0.2470343513231119",
|
"equity_value_high": "110623430556.0",
|
"equity_value_low": "52058084967.60",
|
"method": "pe",
|
"name": "悲观",
|
"price_high": "57.48572368423544911514294609",
|
"price_low": "27.05210526320630445410481710",
|
"role": "pessimistic",
|
"upside_to_high": "-0.4856784138477637191093947742",
|
"upside_to_low": "-0.7579663123986194465947497799"
|
},
|
{
|
"assumption": "以TTM归一化利润与19家机构覆盖池预期为锚，按行业成长和周期属性定价。",
|
"cagr_high": "0.06833813843717484",
|
"cagr_low": "-0.09559456142592859",
|
"equity_value_high": "299333988562.95",
|
"equity_value_low": "130145212418.70",
|
"method": "pe",
|
"name": "基准",
|
"price_high": "155.5496052630465113619537471",
|
"price_low": "67.63026315785986543560246226",
|
"role": "base",
|
"upside_to_high": "0.391693703704451206602431306",
|
"upside_to_low": "-0.3949157809979434066779774335"
|
},
|
{
|
"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": "0.2299133291561819",
|
"cagr_low": "0.08889817396277877",
|
"equity_value_high": "605319843538.80",
|
"equity_value_low": "329267387419.65",
|
"method": "pe",
|
"name": "乐观",
|
"price_high": "314.5558684210300540526194765",
|
"price_low": "171.1045657895616216926895555",
|
"role": "optimistic",
|
"upside_to_high": "1.814313934159703445044461631",
|
"upside_to_low": "0.530863074076779294020663465"
|
}
|
]
|
}
|
