{
|
"conclusion": {
|
"base_midpoint": "105.7941499999336520717254711",
|
"price_label": "当前价格处于基准合理区间",
|
"price_position": "WITHIN_BASE_RANGE",
|
"safety_margin_to_base_midpoint": "0.1795387552142114105191914846"
|
},
|
"engine_version": "1.0.0",
|
"holding_period": {
|
"cumulative_dividend_per_share": "0",
|
"required_exit_price": "139.792268",
|
"required_profit_by_exit_pe": [
|
{
|
"exit_pe": "20",
|
"required_profit": "3797790972.8755458"
|
},
|
{
|
"exit_pe": "25",
|
"required_profit": "3038232778.30043664"
|
},
|
{
|
"exit_pe": "30",
|
"required_profit": "2531860648.5836972"
|
},
|
{
|
"exit_pe": "35",
|
"required_profit": "2170166270.2145976"
|
},
|
{
|
"exit_pe": "40",
|
"required_profit": "1898895486.4377729"
|
},
|
{
|
"exit_pe": "50",
|
"required_profit": "1519116389.15021832"
|
},
|
{
|
"exit_pe": "60",
|
"required_profit": "1265930324.2918486"
|
},
|
{
|
"exit_pe": "75",
|
"required_profit": "1012744259.43347888"
|
},
|
{
|
"exit_pe": "100",
|
"required_profit": "759558194.57510916"
|
}
|
],
|
"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": "3.053222222222",
|
"profit": "1658961537.6635458"
|
},
|
"2027": {
|
"eps": "3.811444444444",
|
"profit": "2070939904.162092"
|
},
|
"2028": {
|
"eps": "4.750375",
|
"profit": "2581105743.670125"
|
}
|
},
|
"included": true,
|
"institution": "东方财富公开一致预期汇总（覆盖池9家）",
|
"report_date": "2026-08-04",
|
"source_id": "SRC-EM-CONSENSUS-20260804",
|
"statuses": [
|
"CURRENT"
|
]
|
}
|
],
|
"summary": {
|
"2026": {
|
"eps_mean": "3.053222222222",
|
"eps_profit_reconciliation_gap": "0.00000000000000007397037074941977462180285384",
|
"institution_count": 1,
|
"pe_on_mean": "28.42898213181181686924259446",
|
"profit_max": "1658961537.6635458",
|
"profit_mean": "1658961537.6635458",
|
"profit_median": "1658961537.6635458",
|
"profit_min": "1658961537.6635458"
|
},
|
"2027": {
|
"eps_mean": "3.811444444444",
|
"eps_profit_reconciliation_gap": "0.00000000000000007463857337885439884009050066",
|
"institution_count": 1,
|
"pe_on_mean": "22.77351835116727504200073304",
|
"profit_max": "2070939904.162092",
|
"profit_mean": "2070939904.162092",
|
"profit_median": "2070939904.162092",
|
"profit_min": "2070939904.162092"
|
},
|
"2028": {
|
"eps_mean": "4.750375",
|
"eps_profit_reconciliation_gap": "0.0",
|
"institution_count": 1,
|
"pe_on_mean": "18.27224166513170012893718917",
|
"profit_max": "2581105743.670125",
|
"profit_mean": "2581105743.670125",
|
"profit_median": "2581105743.670125",
|
"profit_min": "2581105743.670125"
|
}
|
}
|
},
|
"meta": {
|
"as_of_date": "2026-08-04",
|
"code": "300373.SZ",
|
"company": "扬杰科技",
|
"currency": "CNY",
|
"latest_operating_info_date": "2026-04-18",
|
"market": "深圳证券交易所",
|
"report_period_end": "2026-03-31"
|
},
|
"metrics": {
|
"annual_cash_conversion": "1.353245673936448855224774791",
|
"annual_fcf": "684606829.42",
|
"book_value_per_share": "18.23783241914630269764952590",
|
"current_fcf": "-84985883.56",
|
"deduct_pe": "37.71577908075358002046801899",
|
"diluted_shares": "543347787.0",
|
"enterprise_value": "46150275084.37",
|
"market_cap": "47162587911.60",
|
"normalized_eps": "2.301424022400591336171209988",
|
"normalized_pe": "37.71577908075358816399055999",
|
"normalized_profit": "1250473649.51999973",
|
"pb": "4.759337513644235667144785438",
|
"price": "86.8",
|
"ps": "6.140325698776327981627702908",
|
"reported_pe": "34.41190382467784125519440630",
|
"ttm_attributable_profit": "1370531201.99",
|
"ttm_deduct_profit": "1250473649.52",
|
"ttm_eps": "2.522382964982978756477386739",
|
"ttm_revenue": "7680795812.02"
|
},
|
"normalization_adjustments": [
|
{
|
"amount": "-120057552.47000027",
|
"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": "4.34",
|
"implied_margin": "0.3070162849388163990813851454",
|
"implied_profit": "2358129395.58",
|
"pe": "20"
|
},
|
{
|
"implied_eps": "3.472",
|
"implied_margin": "0.2456130279510531192651081163",
|
"implied_profit": "1886503516.464",
|
"pe": "25"
|
},
|
{
|
"implied_eps": "2.893333333333333333333333333",
|
"implied_margin": "0.2046775232925442660542567636",
|
"implied_profit": "1572086263.72",
|
"pe": "30"
|
},
|
{
|
"implied_eps": "2.48",
|
"implied_margin": "0.1754378771078950851893629402",
|
"implied_profit": "1347502511.76",
|
"pe": "35"
|
},
|
{
|
"implied_eps": "2.17",
|
"implied_margin": "0.1535081424694081995406925727",
|
"implied_profit": "1179064697.79",
|
"pe": "40"
|
},
|
{
|
"implied_eps": "1.736",
|
"implied_margin": "0.1228065139755265596325540582",
|
"implied_profit": "943251758.232",
|
"pe": "50"
|
},
|
{
|
"implied_eps": "1.446666666666666666666666667",
|
"implied_margin": "0.1023387616462721330271283818",
|
"implied_profit": "786043131.86",
|
"pe": "60"
|
},
|
{
|
"implied_eps": "1.157333333333333333333333333",
|
"implied_margin": "0.08187100931701770642170270544",
|
"implied_profit": "628834505.488",
|
"pe": "75"
|
},
|
{
|
"implied_eps": "0.868",
|
"implied_margin": "0.06140325698776327981627702908",
|
"implied_profit": "471625879.116",
|
"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": "-0.08888041530791824",
|
"cagr_low": "-0.22206243770704093",
|
"equity_value_high": "29612463447.28",
|
"equity_value_low": "13437588455.10",
|
"method": "pe",
|
"name": "悲观",
|
"price_high": "54.50001666663639139842489135",
|
"price_low": "24.73110000004472273667326080",
|
"role": "pessimistic",
|
"upside_to_high": "-0.3721196236562627719075473347",
|
"upside_to_low": "-0.7150794930870423647848702673"
|
},
|
{
|
"assumption": "以TTM归一化利润与9家机构覆盖池预期为锚，按行业成长和周期属性定价。",
|
"cagr_high": "0.11182686598393365",
|
"cagr_low": "-0.05877902494404896",
|
"equity_value_high": "80127842269.02",
|
"equity_value_low": "34838192291.00",
|
"method": "pe",
|
"name": "基准",
|
"price_high": "147.4706333330846896409647105",
|
"price_low": "64.11766666678261450248623171",
|
"role": "base",
|
"upside_to_high": "0.698970430104662323052588831",
|
"upside_to_low": "-0.2613172042997394642570710632"
|
},
|
{
|
"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": "0.27715369199782725",
|
"cagr_low": "0.13322383669956972",
|
"equity_value_high": "160255684538.40",
|
"equity_value_low": "88140626495.88",
|
"method": "pe",
|
"name": "乐观",
|
"price_high": "294.9412666668319383437555070",
|
"price_low": "162.2176966663158600478481382",
|
"role": "optimistic",
|
"upside_to_high": "2.397940860216957815020224735",
|
"upside_to_low": "0.868867473114238018984425555"
|
}
|
]
|
}
|
