{
|
"conclusion": {
|
"base_midpoint": "52.67816666825794954831730085",
|
"price_label": "当前价格高于基准合理区间",
|
"price_position": "ABOVE_BASE_RANGE",
|
"safety_margin_to_base_midpoint": "-0.5158082570120053583632455760"
|
},
|
"engine_version": "1.0.0",
|
"holding_period": {
|
"cumulative_dividend_per_share": "0",
|
"required_exit_price": "128.5992235",
|
"required_profit_by_exit_pe": [
|
{
|
"exit_pe": "20",
|
"required_profit": "545499966.49532175"
|
},
|
{
|
"exit_pe": "25",
|
"required_profit": "436399973.19625740"
|
},
|
{
|
"exit_pe": "30",
|
"required_profit": "363666644.33021450"
|
},
|
{
|
"exit_pe": "35",
|
"required_profit": "311714266.5687552857142857143"
|
},
|
{
|
"exit_pe": "40",
|
"required_profit": "272749983.247660875"
|
},
|
{
|
"exit_pe": "50",
|
"required_profit": "218199986.59812870"
|
},
|
{
|
"exit_pe": "60",
|
"required_profit": "181833322.16510725"
|
},
|
{
|
"exit_pe": "75",
|
"required_profit": "145466657.73208580"
|
},
|
{
|
"exit_pe": "100",
|
"required_profit": "109099993.29906435"
|
}
|
],
|
"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": "1.976666666667",
|
"profit": "167694885.10002828"
|
},
|
"2027": {
|
"eps": "2.5",
|
"profit": "212093025.0"
|
},
|
"2028": {
|
"eps": "3.04",
|
"profit": "257905118.4"
|
}
|
},
|
"included": true,
|
"institution": "东方财富公开一致预期汇总（覆盖池3家）",
|
"report_date": "2026-08-05",
|
"source_id": "SRC-EM-CONSENSUS-20260805",
|
"statuses": [
|
"CURRENT"
|
]
|
}
|
],
|
"summary": {
|
"2026": {
|
"eps_mean": "1.976666666667",
|
"eps_profit_reconciliation_gap": "0.000000000000000005545786321659509966549501330",
|
"institution_count": 1,
|
"pe_on_mean": "40.39629005058340680968908992",
|
"profit_max": "167694885.10002828",
|
"profit_mean": "167694885.10002828",
|
"profit_median": "167694885.10002828",
|
"profit_min": "167694885.10002828"
|
},
|
"2027": {
|
"eps_mean": "2.5",
|
"eps_profit_reconciliation_gap": "0.0",
|
"institution_count": 1,
|
"pe_on_mean": "31.94",
|
"profit_max": "212093025.0",
|
"profit_mean": "212093025.0",
|
"profit_median": "212093025.0",
|
"profit_min": "212093025.0"
|
},
|
"2028": {
|
"eps_mean": "3.04",
|
"eps_profit_reconciliation_gap": "0.00",
|
"institution_count": 1,
|
"pe_on_mean": "26.26644736842105263157894737",
|
"profit_max": "257905118.4",
|
"profit_mean": "257905118.4",
|
"profit_median": "257905118.4",
|
"profit_min": "257905118.4"
|
}
|
}
|
},
|
"meta": {
|
"as_of_date": "2026-08-05",
|
"code": "301529.SZ",
|
"company": "福赛科技",
|
"currency": "CNY",
|
"latest_operating_info_date": "2026-04-28",
|
"market": "深圳证券交易所",
|
"report_period_end": "2026-03-31"
|
},
|
"metrics": {
|
"annual_cash_conversion": "2.557248476731372243621189948",
|
"annual_fcf": "172872295.09",
|
"book_value_per_share": "16.59911324783075492463743209",
|
"current_fcf": "-21147198.45",
|
"deduct_pe": "53.33971857923398564443012884",
|
"diluted_shares": "84837210.0",
|
"enterprise_value": "6559074506.030",
|
"market_cap": "6774251218.500",
|
"normalized_eps": "1.497008273138638269693215984",
|
"normalized_pe": "53.33971857923397976455399068",
|
"normalized_profit": "127002005.240000014",
|
"pb": "4.810497934908369213960377232",
|
"price": "79.85",
|
"ps": "4.009406732724105459936089372",
|
"reported_pe": "49.98201853997663574261124235",
|
"ttm_attributable_profit": "135533766.27",
|
"ttm_deduct_profit": "127002005.24",
|
"ttm_eps": "1.597574534452512052199736413",
|
"ttm_revenue": "1689589425.59"
|
},
|
"normalization_adjustments": [
|
{
|
"amount": "-8531761.029999986",
|
"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": "3.9925",
|
"implied_margin": "0.2004703366362052729968044686",
|
"implied_profit": "338712560.925",
|
"pe": "20"
|
},
|
{
|
"implied_eps": "3.194",
|
"implied_margin": "0.1603762693089642183974435749",
|
"implied_profit": "270970048.740",
|
"pe": "25"
|
},
|
{
|
"implied_eps": "2.661666666666666666666666667",
|
"implied_margin": "0.1336468910908035153312029791",
|
"implied_profit": "225808373.950",
|
"pe": "30"
|
},
|
{
|
"implied_eps": "2.281428571428571428571428571",
|
"implied_margin": "0.1145544780778315845696025535",
|
"implied_profit": "193550034.8142857142857142857",
|
"pe": "35"
|
},
|
{
|
"implied_eps": "1.99625",
|
"implied_margin": "0.1002351683181026364984022343",
|
"implied_profit": "169356280.4625",
|
"pe": "40"
|
},
|
{
|
"implied_eps": "1.597",
|
"implied_margin": "0.08018813465448210919872178744",
|
"implied_profit": "135485024.370",
|
"pe": "50"
|
},
|
{
|
"implied_eps": "1.330833333333333333333333333",
|
"implied_margin": "0.06682344554540175766560148953",
|
"implied_profit": "112904186.975",
|
"pe": "60"
|
},
|
{
|
"implied_eps": "1.064666666666666666666666667",
|
"implied_margin": "0.05345875643632140613248119163",
|
"implied_profit": "90323349.580",
|
"pe": "75"
|
},
|
{
|
"implied_eps": "0.7985",
|
"implied_margin": "0.04009406732724105459936089372",
|
"implied_profit": "67742512.185",
|
"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": "-0.19069489921205696",
|
"cagr_low": "-0.3008144274466662",
|
"equity_value_high": "2351920763.50",
|
"equity_value_low": "1131940474.5",
|
"method": "pe",
|
"name": "悲观",
|
"price_high": "27.72274999967584978336746340",
|
"price_low": "13.34250000088404604536146344",
|
"role": "pessimistic",
|
"upside_to_high": "-0.6528146524774470910035383419",
|
"upside_to_low": "-0.8329054477033932868458176150"
|
},
|
{
|
"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": "-0.018475222463846808",
|
"cagr_low": "-0.16395723581521626",
|
"equity_value_high": "6171171771.84",
|
"equity_value_low": "2766965604.26",
|
"method": "pe",
|
"name": "基准",
|
"price_high": "72.74133333521929823010445534",
|
"price_low": "32.61500000129660086653014638",
|
"role": "base",
|
"upside_to_high": "-0.0890252556641290140249911667",
|
"upside_to_low": "-0.5915466499524533391793344223"
|
},
|
{
|
"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": "0.12393030541295724",
|
"cagr_low": "0.00041410064653857326",
|
"equity_value_high": "12149494425.45",
|
"equity_value_low": "6788288948.80",
|
"method": "pe",
|
"name": "乐观",
|
"price_high": "143.2094999994695723727831219",
|
"price_low": "80.01546666610087719763533006",
|
"role": "optimistic",
|
"upside_to_high": "0.793481527858103598907741038",
|
"upside_to_low": "0.002072218736391699406829431"
|
}
|
]
|
}
|
